Topic: Is age a limitation in Bitcoin - page 3. (Read 1742 times)

If it boils down to age being a limitation, then the investor can just start with the intention of actually starting and keeping the investment for long term, maybe at the age of 15yrs or even lesser and forget about withdrawal and have only the mindset of saving till the appropriate age and then maybe from there he can reason the withdrawal of coins.

Age is not the problem personality is there people that are matured but still lack qualities to qualify them as an adult so people like that to me are still infant, majority of people like that behave childishly, but want to addressed as an adult, and people can not young people always have a problem with misusing of funds, and that is mostly because they don't have any responsibility, they have issues with saving and in general they have a problem with controlling money.

And that is natural about teens and that is why i would say one way or the other i would say age matters and it does not matters and since there is no age restriction to some exchanges but am sure no one will leave there funds in the hands of a reckless person, because no one will like the result they will get.

As long as the person getting into bitcoin can understand it then there isn't much issues and age wont be a limitation.
And there is also a level of responsibility that this kids needs to accept to be in bitcoin, like to be cautious to not send bitcoin to a wrong address and also if considering to invest in bitcoin they is also a level of knowledge they should have in oder not to mess things up so early.

So IMO it's not a matter of age but of responsibility and if theat child is willing to not be playful around bitcoin then he is good to go.

The only form of maturity you need for Bitcoin is mental maturity. Anything related to physical maturity has no connection to it. But I suppose the same goes for fiat as well. So not sure what this topic is for.

I don't think age should be a barrier, knowledge are even increasing more among the younger ones and at most times what they needed is a quide from and elderly one, those who will start learning Bitcoin at a tender age will do more better when they will grow old and will do better than those who are just learning when they are already advance.

Yes, couldn’t agree more. Bitcoin offers a lot of advantages more than traditional banking or any other traditional investments. Knowledge and sufficient amount of funds are only the keys and you’ll certainly have a good start for your bitcoin investment.

Another thing also is that through bitcoin, you are creating your own bank even at a young age. That is a good preparation for your future or for your retirement soon. With bitcoin, there’s no age limits but you also have to gain higher amount of knowledge and experience so you can manage your bitcoin well.

Even though children are smart, there should be not restrictions or limitations in Bitcoin. Children and the ones coming up need to learn about Bitcoin and how they could invest in it making money for themselves. Since education is the key, we should not ignore the little ones coming up from learning and understanding what Bitcoin is actually about. If they start learning at a tender age, with time they could get familiar with Bitcoin and get to be guru with time. Education is going to be helpful for a long time and children with get used to term of Bitcoin and cryptocurrency at large.

Yes, there is no age limitation of using Bitcoin. But to buy and sell bitcoin you need an exchange, where you need to do KYC, and to do KYC you need your ID card, now for this ID card you need to be at least 18 years old, if not 18 years you will get ID card and without ID card you cannot complete KYC on the exchange. That being said, if an exchange requires you to use Bitcoin, you must be at least 18 years old to use Bitcoin. And without the use of exchanges, Bitcoin can be used at any age, as it is not monitored by anyone.

Well, that is the one advantage of Bitcoin as there is no need to be of legal age before we can have this and even creating a wallet is not necessary. The thing we just need is money and proper education because committing a single mistake is found to be regretful knowing that, especially sending and when it is hacked never have the chance to get back again. There is no refund at our fault, unlike the banks where we still have the chance.
Even if we are as young as 10 years old as long as we can manage our funds right, there is no problem.

I agree with you, but some children are smart and are aware of scams on the Internet, and they know how to protect themselves from it. It is good for children to develop an interest in bitcoin so that they can learn more about bitcoin at an early age, and when they grow into adults, they can start their bitcoin investment. Remember, some people regret not knowing about bitcoin at an early age, and some promise themselves that their kids will know about bitcoin at an early age so that they will gain good knowledge about bitcoin and know how to start a good bitcoin investment.

You're right, mate. We should have bank account to withdraw or deposit fiats to exchanges. As far as I know, the minimum age for having a bank account is 18 years old. So, it is quite impossible to invest or trade in Bitcoin if we are under 18 years old. Moreover, it is quite doubtful that underage people can understand how to invest or trade in Bitcoin.

Yep. Using P2P is sometimes quite complicated and it may not be available in any place around the world. This won't be a common way for converting the profits from Bitcoin. Like it or not, we need a bank account for withdrawal and deposit our funds.

I mean I wouldn't recommend It on children for sure since it just doesn't make sense for them to try investing at all they just didn't really build for investing or even more trading because it would be too risky, not to mention they still don't have any kind of income yet, where are they going to get the money that they are going to use for investments on Bitcoin if they don't have a job or any kind of source of income. There is just no one that is going to restrict us when it comes to Bitcoin I guess, but when we talk about the platform for sure there are some limitations when it comes to that, they probably wouldn't allow children on the cryptocurrency platform at all.

At a young age, I would probably teach my children the concept of what is Bitcoin, but not totally the application of investing because that is just not going to make a lot of sense, I would prefer to teach them how to save there own money for sure probably by their own allowance something like that, if they are having that budgeting experience it would teach them a lot when they grow up, concept of Bitcoin is not really something that you would want to force to someone, it would be better if you let them get curious on it by their own and research it on there own.

There is no age limit when it comes to Bitcoin alone. Anyone of any age can use Bitcoin if he knows how to use Bitcoin and how it works.  Because it is a fully decentralized coin  It only requires a personal wallet to keep it with you which takes only 2 minutes to play cricket.  And to keep it safe, the private key needs to be kept carefully. So anyone who can do these can use Bitcoin Bitcoin if it is even 1 day old. ha ha ha

Nice discussion bitcoin is bitcoin no authorization is required to use a Bitcoin wallet or to transfer Bitcoins. so there is no age limit here. So anyone of any age can use bitcoins but there may be age limitation for buying bitcoins because how can a minor open a personal bank when one has to buy bitcoins using a bank card or through other online transactions.  So in that case he can use his parent's bank but there can be no age limit for bitcoin transactions.

You already answered your own question. Bitcoin is permissionless and has no age requirements. There have been Bitcoin developers like Matt Corrallo, who were still teenagers when they started contributing. Vitalik was only 17 when he co-founded Bitcoin Magazine.

Despite having a young age, it is still possible to be very knowledgeable about Bitcoin. It might be more difficult to use some services which require KYC. These requirements are only imposed by centralized third parties. As long as Bitcoin is decentralized and you hold your own keys, anybody of any age is allowed to participate in the network.

It obvious that age only depends but not a general limitation... However, you can imagine the other side of money as to it being handled by teenagers. It could have adverse negative influence on their entire life that some might not escape it at all life long.....
Restrictions will be a good one, may be setting up a demo account for teenagers with little economics preference promising added advantage when blossom/ripe by legal age. As they convert their demo to main accounts..
. Not belittling, Just my views concerning the influence of personally earn money on teenagers... Any how help your family and friends.   

7 Page Thread and the answer said (NO & YES).

Title: About (AGE)
Detail in thread: Using (Bitcoin) as kids like (Creating Wallet, Transaction)

Meanwhile, most answers are a bit sketchy, like trading or something a little bit weird.

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For @OP, there is no limitation age for learning Bitcoin. However, based on age there is always some limits to the kids for information they can receive and understand. Let's said
- Age 3-6/7 you can start to teach them about (Bitcoin) by book in a cartoon style (An interesting visual for them, so they can have some awareness for the learning).
- Age 7-10 you can start to teach and introduce them to Bitcoin, while they can interact with the Ecosystem by (Creating wallets, transactions, and others).

You can use (Bitcoin-Testnet). So, you don't need to worry about losing some assets while your kids are learning about them. Feel free to search on (Google) for Book Bitcoin for Kids, you will find them.

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If your question kids for earning money, trading, and others, the answer is always (YES). Because you have terms & conditions, the legal age for starting to use the service is around 17-18+ depending on the policy service you are using.

Now you have answered @OP, better to lock the topic.

P.S: IMO, you can teach them about (Bitcoin) but don't forget to let them have a good memory as a child.

It's also important to remember that P2P exchanges also require KYC to find out who is using the service. while the requirements for KYC are usually proven by an identification card issued by the government. If children are under 18 years old, they usually cannot do this.

using P2P exchanges that do not require KYC is usually riskier. If we don't find the right one, we could lose the money we want to buy Bitcoin. still choose P2P that has high credibility to minimize bad incidents.

Children are really  smart this days and you have to be careful with what you impact those children with. They will grab it well since they are smart but when it gets to bitcoin I think 7-9 is to young to be introducing them to bitcoin, they should be more focused on there studies than just introducing them to bitcoin. Because if an adult have issues with the complications that bitcoin comes with.

Starting from understanding what bitcoin stands for then if your trading understanding the analysis, then the market, then the emotional breakdown that it comes with how do children manage in those kind of situations. And if eventually you teach them things will not be in order the way adult will handle situations.

Age is not a limit so longer crptocurrency ( bitcoin) is concern once u have a good knowledge on how to trade u are good to go but many cryto exchange require user to be at least 18yrs.the alternative here is for the user to go  for P2P exchange and also parents that are interested in crypto can open a crpto custodial account for their under age children such as UNest, they can be able to have controls over there portfolios.