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Mauser

hero member

Activity: 2002

Merit: 534

Quote from: ?? on ??

Hey guys, just got back. Im gonna cash out with exchangelly, they do Altcoins -> Tether with no ID needed. And after looking into it and talking to my dad about how Coinbase works, you can't buy coins from Coinbase directly to a wallet thats not a Coinbase wallet, meaning that I would have to pay 2 fees to get it to my main anonymous wallet. Plus for certain alts I trade, I use a shielded wallet, Coinbase wallets cannot send coins to shielded wallets. So my final resolution to the problem is as follows:

Buy coin from various exchanges that my dad has an account in, I give him money, he sends me the coin (He doesnt monitor my trading its just the way I have to buy since I cant have an account on most exchanges) then when im ready to sell, I exchange my alts with exchangelly for tether, then when I want to sell the tether, I either sell it to one of my IRL buddies that my age and trades as well, or I sell it to my dad who cells it to Coinbase.

Another note: Thanks for the merits Pharmacist, I didnt think a high up member like you would be reading my thread!

I think it is a nice approach you are doing here. Working together with your Dad is great for both of you, you can use platforms that are usually only for 18+ year olds and your Dad learns something about crypto currencies. How about you put the money together with your Dad? You could do like 60/40 between you two and like that you have more money to trade. Unfortunately my friends are not so interested in crypto currencies. It would be nice to sell them some coins.

QuickAccount

member

Activity: 189

Merit: 52

In a world of coins, use them.

Hey guys, today I made my first cashout on Changely, it was easy, and quick. I withdrew in tether, this is going to be my main cashout option.

Thanks for all of your suggestions! Cheesy

maxreish

sr. member

Activity: 1330

Merit: 326

At your age, you couldnt do some withdrawals at reputable exchange without the KYC. If your dad agreed to use his identity for you to be able to access any transactions, then much better. There are also some local exchange in your country that neexed kyc for AMLA reauirements and if your dad passed that KYC, you can download some legit wallets that doesnt need kyc then transfer it to your local wallet without hassle for withdrawals.

Or yeah, binance has p2p options direct to your ewallets or banks. But needed some KYC, too. So thats your only choice, your dad's approval for kyc submission.

jrrsparkles

sr. member

Activity: 2520

Merit: 280

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Quote from: ?? on ??

Hey guys, just got back. Im gonna cash out with exchangelly, they do Altcoins -> Tether with no ID needed. And after looking into it and talking to my dad about how Coinbase works, you can't buy coins from Coinbase directly to a wallet thats not a Coinbase wallet, meaning that I would have to pay 2 fees to get it to my main anonymous wallet. Plus for certain alts I trade, I use a shielded wallet, Coinbase wallets cannot send coins to shielded wallets. So my final resolution to the problem is as follows:

Buy coin from various exchanges that my dad has an account in, I give him money, he sends me the coin (He doesnt monitor my trading its just the way I have to buy since I cant have an account on most exchanges) then when im ready to sell, I exchange my alts with exchangelly for tether, then when I want to sell the tether, I either sell it to one of my IRL buddies that my age and trades as well, or I sell it to my dad who cells it to Coinbase.

Another note: Thanks for the merits Pharmacist, I didnt think a high up member like you would be reading my thread!

I don't understand why you have to cashout everytime when you trade, if you don't want the cash then you can certainly keep the funds in the exchange's wallet itself or move to other coin like tether then sell it on p2p or coinbase as you are doing.

shushu9977

full member

Activity: 1121

Merit: 100

First of all, you are underage so that you have problem to cashout in alternate coins. You should tell some senior persons who helps to do that. On the other hand, you convert your coins stable coin such usdt, usdc, busd,tusd token. When your dad back in home then you can do what you want.

davis196

hero member

Activity: 3178

Merit: 937

Quote from: QuickAccount on June 03, 2021, 12:07:10 PM

I am underage, meaning I cannot own a PayPal, Bank Account, CashApp, etc. Do you guys know any alternatives. I want to know because, If i want to sell some coin, I give me dad the coin, and he gives me cash in hand. But lets say a coin spikes or crashes when hes at work, in that case I wont be able to cashout. Do you guys know any other payment ways to USD?

Thanks guys!

Just wait until you become above 18 years old and then open bank accounts,Paypal or crypto trading accounts.It doesn't matter what financial service you are going to use.KYC(ID verification) is a must and they won't accept underage people.Using your dad's ID seems kinda sketchy.What if you lose money?
What if your dad's ID gets leaked and your dad gets doxed?
If a cryptocurrency price goes down,you can use a stop loss order or you could sell that coin for a stablecoin and wait for the price of the first coin to recover.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: NotATether on June 07, 2021, 12:48:03 PM

Quote from: Vishnu.Reang on June 07, 2021, 11:40:07 AM

Back in 2013 and 2014 it was relatively easy to purchase prepaid debit cards and some of the providers were even ready to ship the cards without KYC.

Tell me about it. Sad

Well.. it was relatively easy to purchase such cards from online market places such as Bitmit and Cryptothrift. Then there were providers such as Bitplastic who would ship such cards (completely anonymous, with no KYC requirement) to your address anywhere in the world. But those times are long gone. I guess from 2015-16 onwards, restrictions started to get tighter. Visa/Master made KYC mandatory for all the debit cards. But even then some people were using fake KYC documents to order such cards. Anyway, with every passing year, the restrictions are getting stricter.

NotATether

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Quote from: Vishnu.Reang on June 07, 2021, 11:40:07 AM

Back in 2013 and 2014 it was relatively easy to purchase prepaid debit cards and some of the providers were even ready to ship the cards without KYC.

Tell me about it. Sad

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: NotATether on June 07, 2021, 02:45:49 AM

You're right about these cards not working in ATMs and offline shopping. It seems that the next best thing is to use services which you pay in crypto to shop online for you and deliver to your location. Purse.io does that for Amazon, but I've heard closing-down rumors and scam accusations against them that I don't know if they are true.

They're also not going to work on any cloud service. DigitalOcean, GCP, OVHcloud, and Scaleway all rejected my card (which was a Black as I said - the other card types have worse acceptance rates), AWS wouldn't accept my card's billing address, Linode "accepted" my card and then immediately closed my newly registered account (LOL!), and Hetzner takes the card but now wants my documents for KYC. Only Vast.ai, the GPU rental place, took it without a fuss.

Or bug a relative living in US/EU that does have a credit card and hope they don't tell you to take a hike. Sad but true. It's what some people resort to doing.

Back in 2013 and 2014 it was relatively easy to purchase prepaid debit cards and some of the providers were even ready to ship the cards without KYC. But times have changed and it is no longer possible to order such cards now. Virtual cards are available now, but even these cards are becoming rare nowadays and the existing cards have seen the acceptability going down. We need to adjust with the changing circumstances. But as far as I am concerned, if one opportunity is lost, then another one appears in the horizon.

NotATether

legendary

Activity: 1568

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Quote from: bryant.coleman on June 07, 2021, 02:21:21 AM

Physical cards that can be reloaded with cryptocurrency are almost impossible to get nowadays, due to tightened restrictions from the FinCen. So apart from the VCCs, we don't have any other option. Obviously the biggest negative is that you can't use these cards at an ATM. Also, you can't directly use it for offline shopping (please correct me in case I am wrong). And given the increased regulation (especially with Democrats in power and people like Yellen being given top posts), I think that it is just a matter of time before they start their crackdown against the VCCs as well.

You're right about these cards not working in ATMs and offline shopping. It seems that the next best thing is to use services which you pay in crypto to shop online for you and deliver to your location. Purse.io does that for Amazon, but I've heard closing-down rumors and scam accusations against them that I don't know if they are true.

They're also not going to work on any cloud service. DigitalOcean, GCP, OVHcloud, and Scaleway all rejected my card (which was a Black as I said - the other card types have worse acceptance rates), AWS wouldn't accept my card's billing address, Linode "accepted" my card and then immediately closed my newly registered account (LOL!), and Hetzner takes the card but now wants my documents for KYC. Only Vast.ai, the GPU rental place, took it without a fuss.

Or bug a relative living in US/EU that does have a credit card and hope they don't tell you to take a hike. Sad but true. It's what some people resort to doing.

bryant.coleman

legendary

Activity: 3766

Merit: 1217

Quote from: NotATether on June 04, 2021, 12:15:18 PM

I feel ya kid. Same situation as you, except I'm 21 (well over legal age), but I can't open any bank accounts here.

Buy an EzzoCard. They sell non-reloadable debit cards for crypto, and they work on most payment processors, well, except for the ones that use Paypal as their credit card processor apparently, but they have a whole section on how to verify your Paypal with these cards.

I personally bought a $200 Black card and it's worked on almost everything I got my hands on. It only took 20 minutes from transaction confirmation to deliver the VCC.

[I should mention that because it's a VCC you don't even have to worry if you can't get a physical card shipped for some reason. But you won't be able to withdraw cash from ATMs using it]

Physical cards that can be reloaded with cryptocurrency are almost impossible to get nowadays, due to tightened restrictions from the FinCen. So apart from the VCCs, we don't have any other option. Obviously the biggest negative is that you can't use these cards at an ATM. Also, you can't directly use it for offline shopping (please correct me in case I am wrong). And given the increased regulation (especially with Democrats in power and people like Yellen being given top posts), I think that it is just a matter of time before they start their crackdown against the VCCs as well.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: swiftbits on June 06, 2021, 11:27:36 AM

I'm at the age of drinking and don't have the service aforementioned. I'm still in the acquiring phase to get a primary ID.
Getting permission and asking your parents to create an account for you to use might be a good choice.
The same thing that I did for my first crypto wallet.

Me too, I don't have a valid ID even though I need it right now, I get my cash out of crypto by trading it to my friends for a really fair price so I didn't worry about it too much even without a valid ID. Plus, it's not a norm in my country to have a bank account or any of that because we always deal in cold hard cash.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

That is really a problem for even here in our country, minors or those people aging below 18 are not legible or allowed to open bank accounts and are still in need for the parent's consent or approval and cannot stand alone opening his own bank account for personal use. But if that's the case, why can't you just care to borrow your dad's binance account while he's at work or ask for his consent to use it while he's working so that you can do your own business with Binance. But with regards to cashing out, it will be a tough one because surely your dad will not allow you to access his bank account for it is risky for a minor to handle such because it is somehow complicated matter that adults are just the one to deal with it.

swiftbits

sr. member

Activity: 938

Merit: 251

I'm at the age of drinking and don't have the service aforementioned. I'm still in the acquiring phase to get a primary ID.
Getting permission and asking your parents to create an account for you to use might be a good choice.
The same thing that I did for my first crypto wallet.

The Sceptical Chymist

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Top Crypto Casino

Quote from: adzino on June 04, 2021, 09:12:39 AM

Like others were suggesting, can't you use your dads ID or tell your dad to make an account using his name on behalf of you?

I don't think Coinbase allows a single person to have multiple accounts, nor would they let someone open an account on behalf of a minor (though I'm certainly not 100% sure). The suggestion that OP share the dad's Coinbase account seems like the best one--but it depends on whether the father trusts the son enough with it.

Quote from: nightxglow on June 04, 2021, 12:05:21 PM

You don't have bank account? I thought even minor can open a bank account with their parents as the legal guardian or guarantor.

In the US I believe minors can open savings accounts (though I'm not sure if they need a guardian to cosign). I'm not sure if minors can open checking accounts or not, which would be what OP needs in order to link with PayPal or any other payment processor. I had a savings account when I was a minor, but that was a looong time ago.

OP, I wish you luck. Be sure to save for the future as much as you can--and I'm talking about fiat, stocks, crypto, or any other asset or currency class. Believe me, you'll be very, very glad that you did when you're older. You might not be thinking about having a family or a house or any of that right now, but as you get older you and your priorities change. Having enough money to do what you want to do is super important. Good luck to you!

Lucius

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Quote from: QuickAccount on June 03, 2021, 12:07:10 PM

If i want to sell some coin, I give me dad the coin, and he gives me cash in hand.

Quote from: ?? on ??

...but each transaction has to be validated through a mobile app before it can go through, meaning that if my dads at work it would take a while for him to validate the transaction.

I think that says enough about what your father thinks about it - you're just too young to be able to decide for yourself when to buy or sell something, and I really don't see how you can legally open an account anywhere and trade cryptocurrencies. However, we come back to what your father thinks about all this - because if he trusts you, then the only thing that makes sense is that he still approves transactions through his bank app - but I don't understand why it would be something that takes a long time - send him an SMS or call him to approve such a transaction, and nowadays, everything is in a few clicks (unless it's different here).

GeorgeJohn

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Enjoy 500% bonus + 70 FS

Quote from: Fortify on June 03, 2021, 12:42:24 PM

Quote from: QuickAccount on June 03, 2021, 12:07:10 PM

No company is legally able to do business with you if you're underage, so they would open themselves up to massive potential liabilities by allowing you to do business with them. I would not recommend it,

It's base on the company, because it doesn't matter the age bracket to handle a sector, it's base the potentiality or capability to take care of the situation, because it's obvious that person at age 50 and 20 might not have knowledge person at age of 20 has in certain things, so i believe that all this work is base on experience, automatically it differs because no matter how little human is, what matters is the wisdom.

_Miracle

hero member

Activity: 912

Merit: 661

Do due diligence

do you have bitcoin atms in your area or something like a coinstar machine?

sana54210

legendary

Activity: 3346

Merit: 1128

Quote from: QuickAccount on June 03, 2021, 12:07:10 PM

I am underage, meaning I cannot own a PayPal, Bank Account, CashApp, etc. Do you guys know any alternatives. I want to know because, If i want to sell some coin, I give me dad the coin, and he gives me cash in hand. But lets say a coin spikes or crashes when hes at work, in that case I wont be able to cashout. Do you guys know any other payment ways to USD?

I do not use most of them neither. I can use bank account that works for me, but I can't use paypal or cashapp or venmo or anything like that, just a bank account and credit card so I have to use that directly for stuff like these. I am not even underage, I am 31 years old, it is just about my nation not being available for any of those places. I am thankfully using my credit card to buy stuff online, that is the only option, but having crypto as an option in any place I can purchase is a much better situation, it really helps me a ton.

I cannot stress enough how much that we can make this work, it is a very important thing to make crypto known all around the world because it allows the whole world to connect to each other, for people like me to contact and make deals with people in europe or USA it is a big deal, and crypto can make it easier for all of us.

fiulpro

hero member

Activity: 1890

Merit: 831

Quote from: QuickAccount on June 03, 2021, 12:07:10 PM

I am underage, meaning I cannot own a PayPal, Bank Account, CashApp, etc. Do you guys know any alternatives. I want to know because, If i want to sell some coin, I give me dad the coin, and he gives me cash in hand. But lets say a coin spikes or crashes when hes at work, in that case I wont be able to cashout. Do you guys know any other payment ways to USD?

Thanks guys!

Hi
If you are indeed underage it would be wise to do it in presence of your dad because in the market there are numerous frauds. But then again it's wise to start this early to gain some experience. You can ask your dad to leave his card so that he can not only see all the transactions but at the same time you would not need to hold a bank account.
Secondly I do think that you can "save" money do p2p transaction through third party apps, this could help you more if you have a good wallet like samourai or you can even exchange those cryptocurrencies with your friends and family. Make your own network.
It's great to see young people so keen about these things , please be extremely careful.

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