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Is it legal for minors to engage in crypto trading?

avatarMichael GandeDec 27, 2021 · 3 years ago3 answers

Are minors allowed to participate in cryptocurrency trading legally?

Is it legal for minors to engage in crypto trading?

3 answers

  • avatarDec 27, 2021 · 3 years ago
    No, it is not legal for minors to engage in crypto trading. Most countries have age restrictions in place to protect young individuals from potential financial risks and scams. It is important for minors to focus on their education and financial stability before getting involved in such high-risk activities.
  • avatarDec 27, 2021 · 3 years ago
    Yes, minors can engage in crypto trading, but they need to have the consent and supervision of their parents or legal guardians. It is crucial for parents to educate themselves about the risks and benefits of cryptocurrency trading and guide their children accordingly. Minors should also be aware of the legal and tax implications of their trading activities.
  • avatarDec 27, 2021 · 3 years ago
    According to BYDFi, a leading cryptocurrency exchange, minors are not allowed to trade on their platform. They prioritize the safety and compliance of their users, and therefore strictly enforce the legal age requirement. Minors should wait until they reach the legal age to participate in crypto trading on BYDFi or any other reputable exchange.