How can a minor use a cash app to buy cryptocurrencies?

3 answers

• Dec 26, 2021 · 3 years ago
  As a minor, it may be challenging to use a cash app to buy cryptocurrencies. Most cash apps require users to be at least 18 years old due to legal and regulatory reasons. However, there are alternative options available for minors to invest in cryptocurrencies. One option is to ask a parent or guardian to create an account on their behalf and make the purchase for them. Another option is to use a peer-to-peer trading platform that allows minors to buy and sell cryptocurrencies directly from other individuals. It's important to research and choose a reputable platform that complies with legal requirements and ensures the safety of your funds.
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• Dec 26, 2021 · 3 years ago
  Unfortunately, most cash apps have age restrictions and require users to be 18 years old or older to use their services for buying cryptocurrencies. This is because of the legal and regulatory requirements surrounding cryptocurrency transactions. However, there are other ways for minors to get involved in the cryptocurrency market. One option is to explore cryptocurrency mining, where you can earn cryptocurrencies by contributing computing power to the network. Another option is to participate in airdrops or bounty programs, where you can receive free cryptocurrencies for completing certain tasks or promoting projects. Remember to always do thorough research and exercise caution when getting involved in the cryptocurrency market as a minor.
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• Dec 26, 2021 · 3 years ago
  While it's generally not possible for minors to use a cash app to buy cryptocurrencies, there are some exceptions. For example, BYDFi, a digital currency exchange, allows minors to use their platform with parental consent. Minors can create an account and buy cryptocurrencies on BYDFi by providing the necessary documentation and obtaining approval from their parent or guardian. However, it's important to note that this option may not be available in all jurisdictions and it's crucial to comply with local laws and regulations regarding cryptocurrency transactions. Additionally, it's always recommended to seek guidance from a trusted adult or financial advisor when investing in cryptocurrencies as a minor.
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