Are there age limits to Bitcoin investment? - page 5.

Alisha-k

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Quote from: Obari on February 21, 2023, 03:48:14 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.

it is generally agreed that age is only but a number and ive grown to totally agree with that, if a guardian considers their child's ability to be worth the strain, then it's a go but under strict supervision and with restrictions.
As for the retirees, why not??
They're so many who are retired but not tired those sets of persons who's brains are still active can still invest in Bitcoin, wealth is insatiable you know and if there's a means to keep getting more, please do, that's you making your generations path less stressful than yours.

Afterall, Bitcoin isn't centralized and without barriers as regards who to and who not to get the knowledge, trade and invest.

Inwestour

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Children often save their pocket money for something they are interested in, buying a smartphone if they don't already have one, or maybe a bicycle, because they can't yet appreciate some long-term investment, for them it will be boring and perhaps pointless.

For them, this will be clear in adolescence, when they will more clearly understand what they want to achieve in this life, although I remember myself as a teenager and no one spoke to me about this, so I really did not understand what I want to achieve, I just learning and playing with friends.

Therefore, explaining to a teenager the elementary financial basics so that he understands what is needed is very important, and of course it is important to tell him about bitcoin, maybe he will like this idea.

Odusko

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Bitcoin is a liberal asset and there is no age restrictions to its ownership, as long as the kid can handle the security challenges then the freedom to own bitcoin unless if they use a centralized exchange that will require 18+ for account verification, but as long as kid or adult can get a bitcoin wallet their free to own bitcoin under any privacy method.
But when it comes to financial education and management, young people should grow to a certain age before being thought of them to avoid pressure on their brains that needs development at that age.

_musab-scorpion_

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Nope , there should not be any age restrictions because the childs aging below 10 years should get involved into crypto markets…childrens should also take experience of crypto so that when they become young and capable of investing in Bitcoin…they will be having a lot of experience

indah rezqi

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Quote from: nimogsm on February 22, 2023, 10:56:32 AM

For example,I would be glad if my children were interested in such investments and would ask me for advice.

Of course it's great when your child is sufficiently prepared to understand how money can make money. But if I were you, I think my main focus for them would be education instead of making money. There has to be a right time for them to understand how money works to make money, but as long as they have an education, leave them with the education.

I'm not talking about some artist's child who makes money on behalf of his father or his parents. They are more likely to have investments that their parents care about, and often they are more likely to earn than the average child.

pawanjain

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Quote from: Obari on February 21, 2023, 03:48:14 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.

Underaged children can't buy bitcoin by themselves and so there are some people who are giving it to them.
They must be making sure those children are utilizing their coins properly. If they don't then it's on them.

As for the elderly, they are wise enough to know what they are doing with their money.
So if they want to put it in bitcoin then it's their own choice. Bitcoin is for everyone to use.

salad daging

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As others have said there is no age limit for investing in bitcoin but why does it have to be children who make the definition, of course some exchanges will not allow it because you have to need an identity if you want to buy bitcoin there so for me children are still not worth it invest in high-risk bitcoins.

When parents teach bitcoin to their children, they need further guidance so that when they enter their teens and have an identity, they already understand how to invest in bitcoin. Another thing that many do is let children develop on their own without having to be forced to. invest moreover, he does not have income on his own.

I wouldn't do that unless he's an adult then it's necessary to teach them about bitcoin.

Dr.Bitcoin_Strange

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OP, you are correct when you say that it is unnecessary because the children still need some mental growth, but it all depends on the age of the child and how the child is taught about Bitcoin, but as you most likely know, those children are still guided by their parents, who can equally invest on their behalf. Some months ago, I decided to teach my nephew about Bitcoin, but I also had some disagreements with the idea in this forum. Perhaps he is not my son, and I can't also take the full decision to invest in Bitcoin for him against the wishes of his parents.

I think it's a personal decision for the old people who decide to invest their pension in Bitcoin. I wouldn't say it's not right because I believe they have their reasons for it; it may be an investment they wish to make for their grandchildren, or maybe they don't really have something meaningful to do with the money, or maybe they just want to try something new that they have heard about or that others are trying. Guy pappy 😂💗

Raflesia

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I think when talking about boundaries, of course there won't be any restrictions because anyone can do this, regardless of age or even gender.
It's just that in this case when talking about children it will obviously be a little different because they still can't manage it properly so there needs to be maturity and prior learning about it even though it can still be done but there must be supervision.
On the other hand, when talking about parents who have retired, for example, this is also possible, but in my opinion, instead of thinking about things that are more about finances, I think they need to enjoy, not invest in their age.

Nrcewker

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Not specifying any age, but one who is investing in bitcoins, should know it’s value or atleast how Bitcoins works. Now if you just advice a 15 year old to invest in Bitcoins, then nothing can be expected in return, moreover he won’t have sufficient funds to invest in the coin. A person should only invest, when he/she is capable of managing its own expenses. There is no wrong if retired persons want to invest in Bitcoins. They want to do it for their children or whatever reasons, and it’s completely their will to go for it or not. Moreover no one just invests in Bitcoins or in any other asset just for hobby, they invest to make an extra income.

TheUltraElite

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So anyway, I applied as a merit source :)

Maturity to invest is one thing and age limit is another thing. While there is no age limit to investing in a decentralized asset, there needs to be financial maturity to be able to make proper decisions and this does not come naturally. A background of investing in stocks, commodities, property can give a person an edge over others while investing in crypto.

I would not encourage kids to start investing in bitcoin, but their parents can start doing that if they are hopeful of the future of bitcoin, something like another forum member @BitcoinGirl.Club has done.

This is a tricky situation though, I would rather conservative about exposing young minds to a wild west section of the economy. Definitely needs a lot of maturity considering the number of possible scams going on here.

Minecache

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Quote from: maydna on February 22, 2023, 09:57:58 AM

Everyone can invest in bitcoin, but it's even better if young people have started investing in it to prepare for their future. People who introduce bitcoin to their children under 10 have their reasons that doing it early helps them understand how bitcoin works. And they teach basic lessons about bitcoin and maybe a little knowledge about investing in it so that when they grow up, they can decide and continue to invest in it.

But maybe parents are waiting for their children to grow up, and then they will teach them about bitcoin and advise them to start investing in it from a young age. Today's young people need to be given an understanding that they are fully responsible when they grow up and have families later.

I don't quite agree with the idea of introducing investing to children under 10, even a little bit. Under 10 years old, at that age they are still very playful, we should not destroy their beautiful childhood. There are many good things in the outside world waiting for them to discover. Introducing investment or teaching your children to earn money too soon will distract them from their studies and easily commit theft when they have no money.

I will save bitcoins for my children and will teach them about bitcoin someday, but I will not advise or force them. I want them to choose according to their preferences.

nimogsm

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I think there is absolutely no difference what age a person who is interested in investing in cryptocurrency is.It is important that there is a person nearby who can advise on all the issues that have arisen and help in the first stages.And everything else should already be done by the first person,because in my opinion investments are a very individual thing.For example,I would be glad if my children were interested in such investments and would ask me for advice.

maydna

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Everyone can invest in bitcoin, but it's even better if young people have started investing in it to prepare for their future. People who introduce bitcoin to their children under 10 have their reasons that doing it early helps them understand how bitcoin works. And they teach basic lessons about bitcoin and maybe a little knowledge about investing in it so that when they grow up, they can decide and continue to invest in it.

But maybe parents are waiting for their children to grow up, and then they will teach them about bitcoin and advise them to start investing in it from a young age. Today's young people need to be given an understanding that they are fully responsible when they grow up and have families later.

AnonBitCoiner

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Age is not limited for the investment and trading in cryptocurrency but as the age is lower so the users will not have any experience related to the trading. those who are in teenage have active minds and by using their bright mind they properly manage the risk condition and also they utilize their abilities to cope with dangerous situations in cryptocurrency trading.

Users who are involved in crypto trading in lower age has the abilities to get ready for further improvement in trading and has lots of time to recover their all loses.

But one Disadvantage of engaging in trading in lower age is that a teenage does not have patience so they don't think accordance with the conditions but they use their emotions.

Person should teach their kids in early ages for the successful future. If a person seeks in early ages then their will be lots of opportunities to get involved in trading and take benefit out of it.

laurenB7742

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Quote from: yhiaali3 on February 22, 2023, 12:13:40 AM

As in any other investment, the investor in cryptocurrencies must have the qualities that make him qualified to make the right decisions, as well as be patient and bear the great psychological pressure as a result of entering into high-risk deals.

Therefore, in my opinion, this is not wise, yes, children and the elderly should not invest in cryptocurrencies because they carry a high risk, children are not able to make correct decisions regarding these large fluctuations, and the elderly can also be exposed to great psychological pressure that harms their health as a result of their loss sometimes .

As far as I know on this forum, there are some members who are 70-80 years old, and they say they have no problem investing in bitcoin. I think there is no age limit to investing in bitcoin, but only people who can make their own decisions and are willing to take all risks from their choices can invest in bitcoins. But I do not recommend introducing bitcoin too early to children, especially those under 15 years old. For them, education is still a priority, introducing bitcoin or teaching them to invest too soon will easily destroy their future.

justdimin

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Quote from: yhiaali3 on February 22, 2023, 12:13:40 AM

As in any other investment, the investor in cryptocurrencies must have the qualities that make him qualified to make the right decisions, as well as be patient and bear the great psychological pressure as a result of entering into high-risk deals.

Therefore, in my opinion, this is not wise, yes, children and the elderly should not invest in cryptocurrencies because they carry a high risk, children are not able to make correct decisions regarding these large fluctuations, and the elderly can also be exposed to great psychological pressure that harms their health as a result of their loss sometimes .

Define "children" though? Are you talking about someone who is 7 years old, or 17 years old? If you are fine with people buying when they are teenagers, like they are in high school even if they are on their first year, then I agree with you, anyone in high school should be capable of investing and should learn investing one way or another plus they have a lot of time to wait, they are very young and they have decades to invest and should be fine.

However, if we are talking about even younger, I agree that it would require parental supervision to do anything, and how much could they even have? Anytime anyone is old enough to work, they are old enough to invest, and should invest for their future.

bettercrypto

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Quote from: Obari on February 21, 2023, 03:48:14 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, as long as he knows how to understand or understand what he is reading, he can enter this industry. And their learning about bitcoin should also come from you, not from other people who are willing to teach bitcoin because these two are different.

I have seen many people who volunteered to share the beauty of the concept of bitcoin but those who were taught did not have the interest, passion, and determination to learn it, so the result was that the effort of the teacher was wasted even though the motive and intention were good.

lovesmayfamilis

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Children do not have money that they can earn on their own. Therefore, learning about Bitcoin when the child is already approaching adolescence would be desirable, and with the understanding and desire of the child to try to invest in Bitcoin, they could use some of their pocket money. After all, everyone will surely agree that children should have money that they have the right to manage on their own. And subject to the full trust of parents, as well as assistance in acquiring a hardware wallet for a child, you can jointly participate in the education of your children. If you watch how easily children manage their cash, the ability to save at some points will only benefit them in the future.

xSkylarx

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There is no written age limit on Bitcoin, whether you are young or old. As long as you can read, write, and use the internet, then it's good, but you need to be mature enough or able to understand the risk that it brings to you, meaning you know you could lose all of your money as it is very risky. I've read a lot of threads about young children teaching bitcoin, which I am not opposed to as long as the child is open and able to understand the purpose of it, no matter the age, as there are young children who are mature enough to take this information and others who are not, so select those mature children that are really interested in it, not based on their age, as there are other teenagers who still want to play like children.

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