Are there age limits to Bitcoin investment? - page 3.

Dickiy

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Quote from: Obari on February 21, 2023, 02:48:14 AM

I was actually wondering if there are any restrictions on age as to investing in Bitcoin?
I read threads where people have constantly introduced Bitcoin to their underaged children (10years below) and I really don't think it's necessary because I feel those kids still have some mental growth to do and since Bitcoin is a very volatile digital asset, I think children shouldn't be made to go through such stress.
Same thing also applies to the elderly as I've also read news of people trying to get some retirees investing their pensions into crypto rather than advising them to relax and enjoy their pension and I really wanted to know if it's wise to get kids and elderly into the crypto industry.

I think there is no age limit in getting to know bitcoin or crypto, if the child knows how to invest and use it well by getting lessons from his parents or from how he knows bbitcoin himself I think there is no limit in this case, we can equate it with fiat, many small children have played with money, even old people, without knowing how and what it is made of, I think it's the same thing, if we consider that bitcoin is a currency.
I think if the crypto you mean is Altcoin it will not include wisdom in making decisions because it is more that but if the crypto you mean is bitcoin I think you are someone who is wise and smart.

Ultegra134

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I was introduced to Bitcoin as a teenager and struggled a lot to purchase some. I didn't have a card, of course, and my parents had refused to provide me theirs, while other platforms such as LocalBitcoins also required some sort of identification and a means of payment that could be conducted online (card, bank transfer, etc.). I only had a PayPal account in my mother's name, which I used on another forum in an attempt to purchase Bitcoin but got scammed in the process. Luckily, I managed to save my funds thanks to PayPal's customer service.

Thus, in my opinion, you need to be of a certain age in order to comprehend the fundamentals of cryptocurrencies but also to be able to purchase some, although times have changed now and there are more alternatives than in the past.

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Quote from: Oneandpure on February 25, 2023, 04:05:08 PM

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Although reputable sites like Coinbase and Paypal require users to be at least 18 years old, there are theoretically no age restrictions for trading or mining cryptocurrencies. But anyone, regardless of age, can harvest cryptocurrencies.

And as always, it's a good idea to make sure you understand what you're investing in. If you're not ready to put a large amount of money at risk, you can start small and still get a good grasp for how the process works. Many crypto exchanges have minimum purchases of $10 or less.

To buy Bitcoin or any cryptocurrency, you'll need a crypto exchange where buyers and sellers meet to exchange dollars for coins. There are scores of exchanges out there, but as a beginner, you'll want to opt for one that balances ease of use with low fees and high security

Several exchange with KYC rule need for user have pass above 18 years old and my government rule the people under 18 years old not possibility having document ID and they can't upload for passing KYC. I think many exchange still not required with KYC and potential for investors under 18 years old active for investing or trading and there are not age limit to invest in Bitcoin.

Binance have minimum purchases 10$ between trading or withdrawing fund, I think still available for people under 18 years old investing in Bitcoin trough small amount invested in daily day or weekly.

The choice of buying is possible only through exchanges. Apart, if the underaged person is able to find a trader with good reputation on the forum willing to sell cryptocurrency then it is possible to overcome the KYC issue. If not it is to go with the small limit investing on regular basis. Most of the exchanges doesn't request KYC for deposit, so it is possible to buy directly from any of the users with escrow and move to the exchange for trading practice or other purposes.

Oneandpure

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Quote from: ?? on ??

Although reputable sites like Coinbase and Paypal require users to be at least 18 years old, there are theoretically no age restrictions for trading or mining cryptocurrencies. But anyone, regardless of age, can harvest cryptocurrencies.

And as always, it's a good idea to make sure you understand what you're investing in. If you're not ready to put a large amount of money at risk, you can start small and still get a good grasp for how the process works. Many crypto exchanges have minimum purchases of $10 or less.

To buy Bitcoin or any cryptocurrency, you'll need a crypto exchange where buyers and sellers meet to exchange dollars for coins. There are scores of exchanges out there, but as a beginner, you'll want to opt for one that balances ease of use with low fees and high security

Several exchange with KYC rule need for user have pass above 18 years old and my government rule the people under 18 years old not possibility having document ID and they can't upload for passing KYC. I think many exchange still not required with KYC and potential for investors under 18 years old active for investing or trading and there are not age limit to invest in Bitcoin.

Binance have minimum purchases 10$ between trading or withdrawing fund, I think still available for people under 18 years old investing in Bitcoin trough small amount invested in daily day or weekly.

summonerrk

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Young people are interested in bitcoin, while experienced ones remain in cryptocurrencies. That is, there are more and more crypto enthusiasts. There will be a moment when we will grow old, and it will turn out that All Generations will be familiar with cryptocurrencies. This pleases me.
Should I teach children what the meaning of cryptocurrencies is?
Definitely YES.
The fact is that each generation is smarter than the previous one to new technologies. What we could not imagine modern children see and study every day. But you will be able to successfully convey the idea of blockchain to them only if they know the theory of investments and compound interest. In a word, they will be economically educated.

Taskford

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Quote from: BTCBroker2016 on February 25, 2023, 08:55:02 AM

It is all simple. If there is KYS you have to be over 18. But I think there is no poit to enter it if you already retired and would not hold for a long time

Exactly because you will be in trouble providing necessary documents if you are a minor. But this can be bypass as other minors use their legal age relatives to do Kyc so that they can continue to use bitcoin and can cashout anytime they want.

Also the problem upon investing at your retirement is maybe you cannot enjoy your investment since anytime could happen bad to you and you cannot enjoy this. Also more worst situation is this might lead you to huge health risk especially if the market collapsed and you cannot take what happen to your investment.

BTCBroker2016

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It is all simple. If there is KYS you have to be over 18. But I think there is no poit to enter it if you already retired and would not hold for a long time

hyudien

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You forgot the essence of teaching Bitcoin to kids. They are given material or learning about Bitcoin, that doesn't mean they have to interact directly with buying and selling or investing since childhood. It's all just for the purpose of introducing it so that later when they grow up they will be familiar with the name Bitcoin.

Don't jump to conclusions before knowing what you want to say. Bitcoin learning is good for all ages. it doesn't matter if you are young, old or even a kid. This is because the portion to be absorbed also varies according to its growth characteristics.

Whether it is stressful or not depends on the person delivering it, because the psychology of early childhood growth definitely uses pragmatic tools such as objects around and gives the Bitcoin logo. So personally I don't mind giving that kind of learning. Isn't a successful teacher when he is able to convey abstract material in simple language and way.

Wind_FURY

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I believe OP is confused between gambling with Bitcoin through day-trading/taking risks to take advantage of its volatility, AND actual Bitcoin, the censorship-resistant cryptocurrency/the decentralized network/the multi-generational protocol, which is probably the greatest break-through of the 21st Century.

OP, there are age limits to gambling, but there's no age limits to HODLing. Is there an age limit to HODL fiat? No. Although there's an age limit to gambling with fiat.

xSkylarx

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Quote from: danadc on February 24, 2023, 04:41:23 PM

I say something, if there are no age limits for a child to enter and have a beer in a bar, why should there be age restrictions? something that generates a lot of money is something that doesn't have to have any problem, since I was a child I always tried to save money, why can't children save in bitcoin? That would make them a great future, they wouldn't have to worry about anything because they would have how to buy everything, that's worth it, there shouldn't be any type of restriction, I base it on my case when I was a child.

There restrictions but not implemented. I would say no one is stopping minors to go to bar same with bitcoin no one is stopping even you are very young to buy or invest in bitcoin as long as you know what you are doing. Also bitcoin was made as a payment method and also now as an investment unless you are just buying bitcoin just to gamble but again no one is stopping you. It is best if those young people who got interested in financial aspects would try to know bitcoin to fulfill their curiousity

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There are technically no age restrictions for trading or mining in cryptocurrencies – although established sites such as Coinbase and Paypal require users to be at least 18. However, anyone of any age can mine for cryptocurrency. Like #sports, it has no limit for holders! In detail, as for fans, the #SportsCollective platform provides them with the “once of a lifetime” experience of holding unique NFT pieces curated by their favorite athletes.

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Quote from: danadc on February 24, 2023, 04:41:23 PM

I say something, if there are no age limits for a child to enter and have a beer in a bar, why should there be age restrictions? something that generates a lot of money is something that doesn't have to have any problem, since I was a child I always tried to save money, why can't children save in bitcoin? That would make them a great future, they wouldn't have to worry about anything because they would have how to buy everything, that's worth it, there shouldn't be any type of restriction, I base it on my case when I was a child.

in my opinion, there is no age restrictions when it comes to bitcoin or crypto market in general. as long as the person involve is not getting forced to learn and invest on this market. it should be their own free will so learning is voluntary. but if you forcefully give it to your kid, then, yeah, it may be traumatic to the kid as he doesn't want it and may end up hating this market.
even older generation is free to participate in this market, so long they understand the risk and also willing to learn the ins and outs of this market. for me, there's no problem with anyone willing to get involve in this industry.

Ziskinberg

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Quote from: Obari on February 21, 2023, 02:48:14 AM

I was actually wondering if there are any restrictions on age as to investing in Bitcoin?
I read threads where people have constantly introduced Bitcoin to their underaged children (10years below) and I really don't think it's necessary because I feel those kids still have some mental growth to do and since Bitcoin is a very volatile digital asset, I think children shouldn't be made to go through such stress.
Same thing also applies to the elderly as I've also read news of people trying to get some retirees investing their pensions into crypto rather than advising them to relax and enjoy their pension and I really wanted to know if it's wise to get kids and elderly into the crypto industry.

Teaching young age like you have said OP is not like we are giving them responsibility but that is just a sort of crypto education. Of course, it was hard for them to adapt and understand the situation because they are not yet ready for this big responsibility. I can't pinpoint the best age to start investing in Bitcoin but as long as a person is mature enough to make decisions and can handle the stress, then is capable enough to do this. In fact, some young age had already made business which is also similar when it talks to investing. It is just how they are focused on their life to improve and it doesn't matter about your age but the wants.

danadc

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I say something, if there are no age limits for a child to enter and have a beer in a bar, why should there be age restrictions? something that generates a lot of money is something that doesn't have to have any problem, since I was a child I always tried to save money, why can't children save in bitcoin? That would make them a great future, they wouldn't have to worry about anything because they would have how to buy everything, that's worth it, there shouldn't be any type of restriction, I base it on my case when I was a child.

yudi09

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Quote from: G_Besar on February 23, 2023, 08:10:45 AM

Even though Bitcoin does not limit a person's age in owning Bitcoin, I personally will never involve children at an early age for Bitcoin things even though it is not written in the rules of owning Bitcoin itself. But if we see that there are children who understand Bitcoin and understand how to store it and how to exchange it on the exchange, there is nothing wrong with letting him get involved in cryptocurrency and Bitcoin even though he is still very young.

If there are children who are under 16 years old but already understand Bitcoin and how to utilize internet security, my guess is that these children have an IQ above average and need special guidance.

It is true that so far there is no age-limiting provision in terms of Bitcoin ownership, but guiding children who are entering their golden age is very necessary considering the swift flow of the internet that is unstoppable. If at that time we are able to guide internet security, it is not surprising that when the child's teenage years will easily understand when we teach about Bitcoin.

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Quote from: Obari on February 21, 2023, 02:48:14 AM

I was actually wondering if there are any restrictions on age as to investing in Bitcoin?
I read threads where people have constantly introduced Bitcoin to their underaged children (10years below) and I really don't think it's necessary because I feel those kids still have some mental growth to do and since Bitcoin is a very volatile digital asset, I think children shouldn't be made to go through such stress.
Same thing also applies to the elderly as I've also read news of people trying to get some retirees investing their pensions into crypto rather than advising them to relax and enjoy their pension and I really wanted to know if it's wise to get kids and elderly into the crypto industry.

Nothing like age limit to Bitcoin investment. What you need to know is how to make sure that your wallet is safe from intruders who might want to deprive you of what you have. Bitcoin is a digital money and also a form of investment since the price is very volatile.
The price of Bitcoin can move to any direction any time so you will need to be prepared for the worse for you to be a Bitcoin investor. The market is bear and is is a good time for us to try and get some holdings because we don't know what will happen soon to the market. You can buy Bitcoin for our little ones and help to keep there keys from intruders.

Oceat

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As far as we are talking about investment then there are no age-limit as to someone that wants to own a Bitcoin. But for the other physical asset you might have a little problem if you are too young to own something and it's definitely someone on your family should be in control of that yet before you.

Why did you ask this kind of question as if someone would stop you if ever a child decide to buy Bitcoin? It's not that someone has a full control of Bitcoin that they can't buy it since everyone is allowed to buy Bitcoin as long as they know what they are doing.

serjent05

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Since Bitcoin is not moderated or associated with any company, anyone who has access to it can buy Bitcoin regardless of age. Anyone who wanted to spend money to buy Bitcoin can be able to do it as long as there are people willing to part with their Bitcoin in an agreed price. I think Kids if has a way to buy Bitcoin without undergoing any regulation can also buy Bitcoin. So I think there is no age limit for Bitcoin investment as long as they have the capability to buy Bitcoin.

Oilacris

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Quote from: famososMuertos on February 23, 2023, 03:16:58 PM

Well! There are worries in this life always, no matter the age, so let's not Bitcoin complicated, it's simple, Buy, sell, hold.

The volatility for a child or adolescent is not greater than playing online games or being bullied and in the case of the elderly there are concerns about the use of Viagra.(e.g.)

There is a very notorious case, by the way if it was already named, I'm sorry. Anyway, a grandmother gave her grandson $1000 and he invested it in bitcoin, so, he was one of the youngest millionaires.

It wont really be mattering on what age does a certain individual would decide on buying it out.Its free for all to make buys as long you are aware on what it is and you do have the money
to spend on then this is where people could really own some satoshis or whole coins. Age limits? there's no such thing because its not something that requires something for you
to accumulate.This is why it is really that ideal that you should accumulate and buy Bitcoin when you are really that having the extra money.You shouldn't all in plus
into those young fellas around tending to invest then they would really be that having that small buys which is understandable.

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Quote from: bounceback on February 23, 2023, 05:07:07 AM

Quote from: Obari on February 21, 2023, 02:48:14 AM

I was actually wondering if there are any restrictions on age as to investing in Bitcoin?
I read threads where people have constantly introduced Bitcoin to their underaged children (10years below) and I really don't think it's necessary because I feel those kids still have some mental growth to do and since Bitcoin is a very volatile digital asset, I think children shouldn't be made to go through such stress.

Have you ever heard the saying "plant as early as possible, then you will get results in old age" like investing in bitcoin if we teach investing to children who are 10 years old and when children grow up to be more mature then they will definitely get a large amount of return from investing in bitcoin them, especially if these kids are able to hold bitcoin for a long term, let's say hold it for a period of 8 years while waiting for them to turn 18, then they won't miss the two bull market periods that usually happen every 4 years after the bitcoin halving.

Teaching is indeed one of the best things to do but providing direct access with the aim of getting him directly invested at such a young age obviously becomes a bit difficult.
I personally feel that when I'm under 15 years old it's still very risky to be asked to go directly into investing even though it can be a big risk, different from when I only teach and always monitor and give myself full access when it's over.

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