Topic: Buying Bitcoin (Read 645 times)

Age is not a factor for Bitcoin investment. Whether you are young or old, if you have enough money to buy Bitcoin, you can buy it and keep it as an investment because it is controlled by you and not by anyone else.

OP you can buy any amount of bitcoins for investment depends on your ability. You can buy bitcoins starting from $5, $10, $20, or even $100. We can consider the method you mentioned of buying bitcoins for investment every month as a dollar cost averaging method. The method of buying and depositing bitcoins on a monthly basis is fruitful for us.

if you have the opportunity to invest in bitcoin, just invest in bitcoin because I know that the little you invest in bitcoin will remain constant, and the value will continue to increase if you have never withdrawn it because of panic, if you have confidence in bitcoin you can invest more in bitcoin according to what you have already, investing in Bitcoin is like investment which I know that will yield profits for you, people who is a billionaire today in bitcoin never knew that price of bitcoin will be at this point we see the price of bitcoin, what I know concerning bitcoin price is that it fluctuates and it can make you Rich unexpectedly depends the amount of you invested before it increment

I think he has problem with sentences because his words are quite contradicting. Maybe he is not saying the truth because the way he has written it is quite misleading. We can always buy different units if Bitcoin and it all depends on where we are buying it and from whom we are buying it. There are exchanges where users can buy as low as $5 worth of Bitcoin. If op is quite sure that he is saying the truth, then he shouldn't be asking this kind of question about whether he could purchase smaller units if Bitcoin just like he had bought few times ago. It is good we keep buying and holding before the bull continues.

it seems like OP plans to do it every month. and the value will not be too surprising.
but seeing the enthusiasm of OP who wants to invest at a young age, that's very good. he can start from a small amount, but when he has a job and can allocate more, he will increase his investment in the future.

the most important thing for OP is to do it consistently. don't rush with large ownership. he must adjust his mentality to be strong with what happens in the market. because the bigger the investment ownership, the greater the pressure he will get. starting small, will start to train his thinking to be stronger with the understanding he experiences in the market.

Post like this also attracts a lot of scammers to your pm so please be very careful while accepting pms as you have already made yourself vulnerable and a CENTRE of attack so please be very mindful of messages you would want to respond to as you’re still a kid and might be enticed by the offer these criminals might come with to your pm.

Didn’t actually read all comments here but for the few I’ve read so far, it seems you’ve already gotten all the necessary informations you deserve and buying bitcoin wouldn’t have to be so much of an issue but you should do it more carefully and maybe get a trusted supplier from your country here and just deal with such a person, I assure you that, you’ll be amazed at your balance if you consistently do this weekly for one year.

There is absolutely no age limitations in embarking on a Bitcoin journey if the basic knowledge is already acquired, you don't need lots of money to invest in Bitcoin, the DCA strategy of accumulating Bitcoin is a method that allows investors to invest with as little as they can be comfortable with either weekly or monthly irrespective of Bitcoin price point on different intervals considering your income flow and financial capacity, I admires your courage mate and I must say that dca strategy has lots of benefits which also you have to prioritize consistency in accumulation in order to have a good size of Bitcoin up to a reasonable amount and hold for as long as 4 to 10 years or more.

It depends on the exchange you will use because some of them requires a KYC and of course some of them does not it depends on your transaction activity, if you question is you can make an investment yes, we called that as DCA which is making investment no matter what the price is sometimes people do this and wait for the higher price of the the bitcoin. There's nothing wrong with making an investment with just small amount, you don't need at least 1 BTC just to invest. Just wondering since you when invested with the bitcoin because 20$ make a rise to 40 is so huge.

If you are able to take responsibility in terms of mentality, I mean when the price drops you will not blame anyone and do not harm any party regarding the law. it does not mean that those who are old enough can control their mentality and at least the legal umbrella has reached the age threshold, regarding bitcoin ownership you can buy in a wallet on dex because cex requires kyc, although you can have a cex account if you are supported by family members who are old enough. Even fellow communities in your area I think there are those who accept P2p because they have a cex account also makes it easy online and offline. The large number of sathosi you get is good because you intend to save bitcoin regularly, in the future you will be grateful for what you do today in terms of buying bitcoin.

You last question contradict your First question, because you wanted to know what the possibility and position if you buy a £10 worth of Bitcoin, but in the last question you mentioned that you already bought Bitcoin worth £20 that have increased in profits x2 which now is at £40.

With the above statement it means you may be far from the truth and should at least rephrase yourself statement again so that we can contribute rightly.

If a parent opens a bank account for their child and saves for their future, and it is legal, then investing in Bitcoin is also legal. Since you are 18 years old, you should know how to take care of yourself. There are no capital limits in Bitcoin investing. In fact, I am surprised that at such a young age, instead of thinking about buying a PS5, you are investing in Bitcoin. This does not surprise me, but it will surprise you in the coming years when you continue to invest in Bitcoin every month. Soon, you will see a significant investment in Bitcoin. I suggest that as a teenager, you understand that the protection of your assets is always in your hands, so don't let anyone access your wallet. Also, don't be afraid of Bitcoin price decreases; always consider long-term investment..

Your plan is good and you have taken a wise decision by going in gradually and Buying Bitcoin according to what you can afford at the moment, there are people that has used this method to achieve their goal of owing one Bitcoin, Then when must have started earning bigger amount of money you can think of scaling up a bit and accordingly too, because from historical performances of Bitcoin after Bitcoin halving, I tell you that you actually started your purchase at the right time if we have history say the same again.

£20 that OP does not remember where he bought it, he got bitcoin worth that amount, moved it to exodus wallet, but he cannot remember how he got it, but he knows it is now worth £40, sounds ridiculous to me. OP, maybe truly you shouldn't buy bitcoin right now, you might not be able to keep your coins safely, or you might just make mistakes whilst attempting to buy and thus lose your money, i'd advise you stick around, learn a few things until you are ready to start your bitcoin journey.

No amount is consider small, remember the journey of a thousand mile begins with a single step. It's never too late to invest in bitcoin, it becomes a complex activity when an investor find him or herself on the extreme bearish season. This is a good time to invest but I would tender crucial warning because the system have been designated to cause huge losses for investors and traders. Bitcoin is the Centerpoint for the liquidation of trading accounts, I'm never sticking to a plan that's not healthy to us, rather we should always know our ideas and exploring them in the space.

This is what make people to like bitcoin investment, because they can use any amount to start the investment, you have a good plan by buying bitcoin every month when money enter your hands, and it will help you to have plenty bitcoin in your wallet because time will come when the price of bitcoin will pump higher to allow people to have the chance to make income which you can also use the chance to earn income too from the market. £20 you use to buy bitcoin, and it has accumulated to £40 show that before the end of this year, it will going to accumulate more when the price continue to rise.

If the platform or Exchange you use allows you to buy Bitcoin in small amounts, there are no restrictions for you even if you are under 18 years old. Your plan is very good, especially since the investment is planned for the long term. Starting investing at a young age is a very good thing, you can enjoy large results when you are an adult.
Remember, Exchange is not a place to store assets in the long term, once you have a certain amount of Bitcoin, you can store it in a wallet where you can control the private key. If the assets you store on the Exchange are small in amount or you can still afford the risk and want to save on sending fees to your personal wallet, you can store them temporarily, but it is not recommended for the long term.

Every success begins with the decision to try, so Mate under age doesn’t matter in terms of investment in Bitcoin, this is even right for to understand what the investment is all about and also gain the much knowledge that will lead you to becoming successful person in future, because good pass may may under age having a earlier knowledge about the investment since from there you will know all the risk that is involved in in Bitcoin investment and also lean how you can able to avoid them in your future investments.

This a better idear as you have a plan for self by using the little amount of money and purchase Bitcoin as newbie is very good ideal honestly, they last that every thing is a gradually process is better than go and putting the money that you can not afford to lose.

Yes; you can buy Bitcoin with any amount no matter how small it is.

Age does not matter in Bitcoin investment. you can start at a younger age and you will surely get the benefit when you get older, you need to be consistent and patient with the market price fluctuations to have peace of mind always. Avoid altcoins and focus on only Bitcoin.

This, method of investing with a small amount within some time interval is good, it will serve as your future investment plan and will save your money from inflation. Keep your Bitcoin in your wallets, and avoid leaving them in an exchange.

Keep learning.

You can of course buy some worth fractions of bitcoin possibly as Satoshi even at the range, less or more than that your affordable €10. The conditional purchases of bitcoin fractions is actually varied based on the exchanges.
Investing on bitcoin is unlimited so I ages because bitcoin is a decentralized financial chain so, underage, aged and over age people can always invest on bitcoin but while buying your bitcoin, you'd have to operate on the DEC exchange and would buy easily transacting with a local exchangee p2p during DCAing accumulating more of coins.

The method you have chosen is called Dollar Cost Averaging (DCA) method. It is a very powerful method of building wealth that does not generate any financial stress on the investor. I will encourage you to keep doing that and be rest assured that 10 years from today, you will be look back at this decision and congratulate yourself.

I don't know about your countries and their laws but in my country, there is no age limit in investing especially in assets like Bitcoin. Even kids do invest in bonds and stocks with the consent of the parents so there is no age barrier provided the fund is clean and have a decent source.

It is possible to buy bitcoin worth £20 or even £10. Buying bitcoin doesn't have to be in whole bitcoin because there's satoshi which is the name used to call the smaller amount of bitcoin. What you should be looking for is where to buy bitcoin that is worth £20 because some exchange doesn't have low limits. For age, there is no age limit on how old a person can invest in bitcoin. Even if you are under 18, you can still invest in bitcoin and own bitcoin.

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.

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.

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.

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.

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.


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.

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.

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.

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.

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.

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.

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.

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.

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.

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.  

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.


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

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.

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.

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?

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

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.

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

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.

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.

They actually block minors from registering the platform as it isn't legal to give access to them considering the kind of activity they do (Coinbase[1], Kraken[2], Binance[3] just to give some examples). The same happens to casinos as well (once again, considering the service that they provide, they must abide by the rules of the market).

As far as being illegal or not holding bitcoin while < 18, I'm sure that the rule is mostly iffy in countries - if bitcoin isn't seen as an investment vehicle then most likely there isn't anything stated that having it under 18 years old is also illegal. We can all debate on the justification as to what's the difference between having 16-17 years old vs. 18 years, but as it stands the rules are those (and will be for the foreseeable future).

My recommendation would be - assume that you are aware of what you are actually buying and your expectations match the underlying behaviour of bitcoin (especially if you are buying it just because of what you heard vs. buying it because you understand what's behind it) - you can try to purchase voucher cards (such as Azteco[4]) and then redeem the bitcoin in those.

I'm only sharing that recommendation because I know that some P2P markets do require that you have at least 18 years old to use the service (for example PeachBitcoin[5]). Being P2P markets they won't ask you for ID checks, but I suppose that if they do found out that you've signed up under false claims they could suspend your account.

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[1]https://help.coinbase.com/en/coinbase/getting-started/getting-started-with-coinbase/create-a-coinbase-account
[2]https://support.kraken.com/hc/en-us/articles/360059110151-Creating-and-verifying-your-account-on-the-Kraken-app
[3]https://www.binance.com/en/terms
[4]https://azte.co/
[5]https://peachbitcoin.com/terms-and-conditions/

With £10 for one purchase, I doubt that you can do it on centralized exchange. You need to check their minimal trade value and see can you do it or not. For other information like Taker fee, Maker fee, Withdrawal fee and so on, you can check with following sites
https://www.cryptowisser.com/exchanges/
https://exchangewar.info/

If you can not do it with £10 for one purchase monthly, you can try to increase it to £20 monthy or wait for two months to make one purchase.

Legal or illegal depends on your country policy on Bitcoin and Bitcoin market. It is not related to your age and as I know, centralized exchanges don't block you to use their services if you are under 18 years old. I am unsure about it, just thinking, and you need to double check it with Terms of Service in an exchange you want to use.

If you are looking to get your hands on some BTC, you have got options beyond just setting up an account with a centralized crypto exchange.  Id suggest doing a quick Google search to see if there happen to be any Bitcoin ATMs in your area.  In some bigger cities, these are popping up in cornershops and convenience stores all over the place.  And you may even have some luck contacting local Bitcoin meetup groups or associations to find people who are willing to meet up in person to sell you some coin peer-to-peer style.  Point is, depending where in the world you call home you can likely dig a little deeper beyond the most obvious routes and uncover some solid local options for entering the world of Bitcoin.

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.

These are centralized exchanges that only allow 18 years old and above to have access to their exchange products and services.  Except maybe his dad, mum, relative can give him one of their identity documents to get the verification done but which is not ideal but who cares.

This is just it. He used P2P like from somewhere like on this forum, through telegram etc cetera. Or he used centralized exchange that do not require KYC. Or a decentralized exchange.

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. Register with any of these exchange that operates in your country and complete their KYC verification first.

After that you can buy bitcoin through p2p from traders in your country, you send them the amount of money that you want to use to buy bitcoin and you will get your bitcoin in your exchange wallet but you need to be very careful since it is the first time to avoid complications.

How did you buy the first €20 bitcoin that you said you bought. Don't forget to use a noncustodial wallet like Electrum wallet, Blue wallet or Sparrow wallet which only you have the private keys to store your coins and don't leave your bitcoin in an exchange.

Yes I understand.
How do you recommend I go around buying bitcoin. I have a wallet however almost all places I go to buy it either has an age restriction or a £20-30 minimum.

You should move this topic to Bitcoin discussion board.

Is it legal for a child to have a bank account where his parents saves money for him... As long as you have the money to invest in bitcoin and know how to keep your bitcoin safe, anyone can invest in bitcoin because there is no age barrier in bitcoin investment.

Of course 10 pounds is cool to invest with on bitcoin monthly and if you can do this persistently every month for 4 years and above, you will be surprised at the size of your bitcoin portfolio. Buy bitcoin now that the price is at the dip for better profit on the long run.

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.