Buying Bitcoin - page 2. | Bitcointalksearch.org

Mr.right85

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

You should have asked this question even before investing the £20.
The goodnews is, there isn’t any legal age to taking up an investment in Bitcoin neither do I find any of such age limit for any business out there.
What limits you here is the funds that is available to you in taking up Bitcoin investment as you can tell. The strategy your employing is called the DCA strategy and it works just fine.

Wakate

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

Depending on your region and where you stay, you can buy any unit of Bitcoin, even I exchanges that has low limits. This is a good move for you since you are still young and it shows that you have plans of becoming a crypto investor which is quite a good idea. Buying small units every month is good and you will be surprised when the price of Bitcoin finally hit 100K, you will be in massive profits by then. We are in the bull run so the price of Bitcoin is going to move well in time so just take your time and keep accumulating and you will be surprised on how much b you have made. You should also make sure that you don't disclose your private keys with friends or family members.

sunsilk

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If I owned Bitcoin, I would never forget how I obtained it. Even several years ago, I'd take some accurate guesses on how I've taken it.

But as a young person who wants to invest in Bitcoin, literally in investing, there's no age gap or limit. As long as you're willing to take risk, you're welcome to take one.

£10 is already a good start and you'd see how it will turn to when you're about to take profit in the future.

Egii Nna

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Quote from: RockBell on August 11, 2024, 02:56:18 PM

Quote from: Abu-Naim on August 10, 2024, 11:13:59 AM

Good one. Age has nothing to do with Bitcoin investment, no matter how young you are, if you have money you can buy and hold Bitcoin for as long as you want because no one will control your money for you.

Age might just be a number but still matters a lot because you don't expect a child to do bitcoin or when they are supposed to focus on his or her basic education. The complexity of bitcoins might makes it difficult for old people to do their is a level of age that will make it easy to comprehend. Then next thing will be the money because even if you are young and you don't have money to invest then your plans will be zero am sure of that. Funds will not come from even so you need to source out for funds then that way you can decide the one you want to do invest or trade.

Age is not supposed to be a restriction to bitcoin investment. Regardless of how old you are, if you have money, you can invest. Just make sure you will be able to take the risk and understand the basic knowledge of bitcoin investment. I don't think there will be an issue. However, the child you are talking about is like a kid or small child who can't comprehend, but as the OP, I'm very sure he is not that type of age; he is old enough to know what he is doing, so I don't think there is something wrong if a child holds bitcoin. For the money, I think the OP mentions the amount he wants to invest, and I'm sure he has it; that is why he stated that he worked for it.

RockBell

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Quote from: Abu-Naim on August 10, 2024, 11:13:59 AM

Good one. Age has nothing to do with Bitcoin investment, no matter how young you are, if you have money you can buy and hold Bitcoin for as long as you want because no one will control your money for you.

Age might just be a number but still matters a lot because you don't expect a child to do bitcoin or when they are supposed to focus on his or her basic education. The complexity of bitcoins might makes it difficult for old people to do their is a level of age that will make it easy to comprehend. Then next thing will be the money because even if you are young and you don't have money to invest then your plans will be zero am sure of that. Funds will not come from even so you need to source out for funds then that way you can decide the one you want to do invest or trade.

Quote

This method of buying you used is refereed to as DCA method, you can be buying as low as you are having so as not to use all the money you have because of your personal needs. Investing some percentage of money you have to save for future use into Bitcoin investment and you will be safe from inflation in the nearest future, and you will as well have good profit after some years.

DCA is actually a very good method that needs, and everything depends on exactly how you want to make your game plan go well for you, buying gradually is good because it won't render you all that broke, and if you are someone wants accumulate gradually then using DCA is the best for people like that. Bitcoin been money and assets at the same time just makes it more interesting, because of this bitcoins is naturally repelling inflation and that is why investing in bitcoin is actually very amazing because currencies can not even survive against inflation but bitcoins can.

Stable090

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Everyone can’t invest equally, and I know everyone wants to invest big, but most people don’t just have the financial capacity, so we just all have to invest what we have. No amount of money is too small when it comes to investments, so investing £10 monthly is really nice. The more you keep on earning, the more you can keep on increasing your investment. But make sure the money you will be using is your spare money, and you should be holding bitcoin for the long term if you need a maximum profit.

Quote from: epoc02 on August 02, 2024, 03:36:33 PM

Also is it even legal for an under 18 year old to invest in bitcoin.

There is no age range for bitcoin investment, but there are some regions in which bitcoin is illegal, so if you are in places like that, your investment should have to be hidden. But if you are from regions where bitcoin is legal, then what will be stopping you is where you will be getting bitcoin from, but you are free to own bitcoin.

Quote from: epoc02 on August 02, 2024, 03:36:33 PM

I have already invested £20 which is now worth £40.

That’s really nice, but you should know that dump can happen also, so when your money drops from £40, don’t panic, just keep on holding and keep on accumulating.

Orpichukwu

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Quote from: Sebas.tian on August 11, 2024, 04:28:12 AM

Yes, it's possible to use £10 to purchase Bitcoin, since that is what you can afford to start Bitcoin investment, and the more you add to it the more the Bitcoin will be increasing in your wallet and it will give you the opportunity to achieve huge amount of income in the future. It is better you are young before you join the Bitcoin investment, because it will allow you to enjoy many things Bitcoin investors used to enjoy when they invest in Bitcoin in the bullish season, and ensure you hold for long term before you can release the Bitcoin for sale. I must confess to you that you have a good plan by putting £10 into your Bitcoin investment monthly, and it will allow you to save huge amount of Bitcoin that will make you to make income you have never make before in the Bitcoin investment.

It's not as if you can not buy bitcoin worth €10 and start from there, but another thing here is the method that you want to use to buy it, how much you will be charged as a fee to withdraw the bitcoin purchase from the exchange, and how much will be left unless you use a P2P where the sending fee can be customized, not an exchange where they can demand that you pay $10 for just a single withdrawal.

Sebas.tian

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Quote from: epoc02

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Yes, it's possible to use £10 to purchase Bitcoin, since that is what you can afford to start Bitcoin investment, and the more you add to it the more the Bitcoin will be increasing in your wallet and it will give you the opportunity to achieve huge amount of income in the future. It is better you are young before you join the Bitcoin investment, because it will allow you to enjoy many things Bitcoin investors used to enjoy when they invest in Bitcoin in the bullish season, and ensure you hold for long term before you can release the Bitcoin for sale. I must confess to you that you have a good plan by putting £10 into your Bitcoin investment monthly, and it will allow you to save huge amount of Bitcoin that will make you to make income you have never make before in the Bitcoin investment.

Abu-Naim

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

Good one. Age has nothing to do with Bitcoin investment, no matter how young you are, if you have money you can buy and hold Bitcoin for as long as you want because no one will control your money for you.

This method of buying you used is refereed to as DCA method, you can be buying as low as you are having so as not to use all the money you have because of your personal needs. Investing some percentage of money you have to save for future use into Bitcoin investment and you will be safe from inflation in the nearest future, and you will as well have good profit after some years.

Pandu Geddon

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Quote from: epoc02 on August 02, 2024, 04:19:02 PM

I will have a look at binance.

you have to go through KYC verification there. it might be a bit troublesome if you don't have any documents yet.
P2P is currently the most recommended for you. Bitcoin asset ownership is not affected by age. the most important thing is that you already have the awareness to be responsible by carefully storing your wallet where you store your assets.

you have a good idea by allocating some money to Bitcoin. By doing it consistently, you will get extraordinary benefits in the future. you have started it well, hopefully, everything you do will run smoothly. if you have any difficulties, don't hesitate to ask in the forum.

Adbitco

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At first age does not restrict anyone from investing in Bitcoin you can invest in Bitcoin as long as you can manage your seedphrase and wallet properly. Investment does not only rely on being an adult or above 18 years, the most important thing is if you have access of passing kyc on centralized exchange then you can purchase your Bitcoin but in a way whereby you are not of age then I will advise you should buy bitcoin through p2p from trusted people in your country on your local board.

Again you can purchase any amount of Bitcoin be it $1 $2 $3 $4 or even $10 per week what matters most is the cost of transaction to cover up moving your Bitcoin to another wallet alternatively if the fee would be a major problem to you you may leave such amount on exchange maybe after having accumulated enough Bitcoin then you can move them to a self custodian wallet where only you have the access to the wallet.

satscraper

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Quote from: Frankolala on August 02, 2024, 04:04:45 PM

The best way is to buy from an exchange depending the country that you are but I believe that Binance, Bybit or Kucoin should be operating in your country.

I would not say that CEX like Binance, Bybit, Kucoin or anything else represent the best way to buy BTC. Once again, I would advocate bisq/bisq2 - decentralized p2p platform with no KYC and any other restrictions including the age. I'm trading there in EUR and encountered many offers to sell bitcoins for pounds.

WatChe

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Quote from: pooya87 on August 08, 2024, 05:16:17 AM

Quote from: epoc02 on August 02, 2024, 03:36:33 PM

Also is it even legal for an under 18 year old to invest in bitcoin.

You are under the legal age and you are trying to start stuff in the dark net?! You might want to slow down a bit, you don't want to ruin your future doing something illegal, do you?

Quote

I have already invested £20 which is now worth £40.

How did you do this last time? Why can't you do it again?

I think investing in Bitcoin is not an issue but using it for illegal purpose is an issue and must be avoided at all costs. There are countries where use of crypto currencies is illegal but it's illegal regardless of your age or race. So if crypto is not ban in one's country then he must fee free to buy Bitcoin.

Quote from: pooya87 on August 08, 2024, 05:16:17 AM

Quote from: epoc02 on August 02, 2024, 03:36:33 PM

I have already invested £20 which is now worth £40.

How did you do this last time? Why can't you do it again?

That's a good catch. If OP has already done that they why not again.

odolvlobo

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

Also is it even legal for an under 18 year old to invest in bitcoin.

In the U.S., there are no laws against minors buying, selling, owning, or using Bitcoin. The main reason that financial companies don't allow minors is that contracts with minors cannot be enforced. Also, companies don't want to deal with the laws regarding interacting with minors online.

I assume the situation is similar where you live.

A good solution for you is to buy bitcoins from a friend or for a parent to open an account for you in their name.

Lucius

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Quote from: pooya87 on August 08, 2024, 05:16:17 AM

~snip~
How did you do this last time? Why can't you do it again?

Quote from: epoc02 on August 02, 2024, 04:19:02 PM

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.
~snip~

It seems that the OP is one of those who forget very quickly, and if I were him, I would wonder if I bought BTC at all, or if I am a victim of a "watch-only wallet scam". I have no doubt that there are a lot of people who invest in BTC, but in fact they only bought some public BTC address and look at someone else's balance.

pooya87

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

Also is it even legal for an under 18 year old to invest in bitcoin.

You are under the legal age and you are trying to start stuff in the dark net?! You might want to slow down a bit, you don't want to ruin your future doing something illegal, do you?

Quote

I have already invested £20 which is now worth £40.

How did you do this last time? Why can't you do it again?

RickDeckard

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Quote from: LoyceV on August 07, 2024, 03:25:43 AM

It's probably best to discuss with your parents on how to create an exchange account. If your under age, maybe they're willing to help you out.

Didn't remember of this, but it could work as well indeed. There is nothing stopping you from having a conversation with your parents or another family member to have him register for you in an exchange (be it CEX or P2P) and then he/she buys whatever amount you ask him to. He then can send you the amount whenever you reach the legal age to start using the platform or to continue accumulating in any other medium that you want to.

This method is used, from what I know, by parents that want to buy their kids investment options (such as Index Funds) instead of opening a savings account for them. So it could work for Bitcoin as well.

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Quote from: epoc02 on August 02, 2024, 04:19:02 PM

This is very helpful thank you.

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.

I will have a look at binance.

The best chance for you to buy BTC due to the possible age restriction is using a P2P exchange but I'm surprised how a teen who is yet to have parental responsibility will forget how he/she bought BTC days ago. The only way this is possible is either there is something you're not telling us or you're not ready to get involved in Bitcoin

LoyceV

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

Also is it even legal for an under 18 year old to invest in bitcoin.

Quote from: epoc02 on August 02, 2024, 04:19:02 PM

My bitcoin is being stored in an exodus wallet and I can't remember how I bought it.

You're young, recently bought Bitcoin, and can't remember how? How is this possible? It doesn't make sense.
Next, you'll say you don't know how you stored your backup seed.

There's a few more things to consider buying Bitcoin. You should probably read up before proceeding.
Things that come to mind:: withdrawing a small amount from an exchange means you pay a large percentage in withdrawal fees. Collecting small amounts in your own wallet means you'll pay more on transactions fees when sending it later on. Keeping it on an exchange has risks, keeping it in a hot wallet also has risks.

It's probably best to discuss with your parents on how to create an exchange account. If your under age, maybe they're willing to help you out.

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Quote from: epoc02 on August 02, 2024, 03:36:33 PM

I want to know if it is possible to buy £10 of bitcoin as I am young and do not have the money to start investing loads of money. I am planning on putting £10 every month into bitcoin.

Also is it even legal for an under 18 year old to invest in bitcoin.

I have already invested £20 which is now worth £40.

Yes! you can buy Bitcoin worth 10 GBP, there are many platforms and exchanges those allow to purchase small amounts of Bitcoin including Coinbas and Binance and other exchanges. The legality of Investing in Bitcoin by minors depends on regulations of the country where you live in. However you can open your account country like UK through your partner or guardian. It is great to hear that your initial investment in Bitcoin has doubled, this is the volatility of Bitcoin which often provides opportunities for investors to buy during dips and make profits.

Topic: Buying Bitcoin - page 2. (Read 649 times)