Is it legal for our kids to learn trade? - page 8.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

If they are really eager, there might be something they see interesting about why they like trading at that age.

Therefore, let them enter the world of trading and guide them. Of course, just put them on the learning and studying part and not at the point that they will risk some money. They should get there soon.

You can observe that kid along the way and see if there's a significant change in his interest in trading, whether he really likes it or is just being carried away by something that he saw before on why there's an interest in doing it.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

there is nothing wrong if children want to learn about trading. Do not bother about the loses he might incurred because there is demo account available for people who wants to learn about trading and do not know how to start. The demo will help the children to be available to learn trading and enter the market without any fear. It will help him to master trading well and to put the things he has learnt into practise so when the child start using real account, he will be confident to execute trade without fear of losing.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

First and foremost, conducting cryptocurrency trading is really risky. Second, this aspect is not easy to understand immediately, you know that.

But if he is really eager to learn, there is nothing wrong with that if he makes the excuse himself and shows you that he is really interested. Just explain it to him in a way that he can easily understand. And since there are exchanges that need to have kyc, maybe you should teach trading in DEX first, it can also be done in centralized ones but in your account if it's your son, nephew or whatever.

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Quote from: posi on March 10, 2023, 04:42:05 AM

Quote from: Jody.Drummer on March 09, 2023, 01:40:49 PM

Actually there is no problem when they learn to trade, but to jump right into trading practice it would be better to wait 3 or 4 years first. The reason is that if he trades now, then the risk is higher, he is definitely still relying on the money given to him by his parents, so don't let it backfire on himself. He must understand what trading itself is all about. He also has to know in advance how it feels to make money so that what he does later will be careful with the money he has. In conclusion, wait 3 or 4 years, even longer after he really understands. Because this is not a game played by children.

Trading is not like holding, if he wants to learn about bitcoin and start saving in bitcoin from now on, we can consider that because saving with bitcoin is still much better than saving in fiat currency. But trading is not recommended because it is much harder than holding. 15 years old is too young to start trading, firstly, not old enough to create accounts on exchanges, and second thing, as you mentioned: he still uses his parents' money, this will not guarantee capital when trading, if he loses, it will be easy to steal his parents' money.

Yeah that's why I don't recommend when they trade for real, and also I say they should at least wait until they turn 18 or wait 3 or 4 years first. Not only he (the child himself) will suffer losses, but his parents will be affected. I understand that maybe there are children who are quick to respond to knowledge, but knowledge alone is not enough in a world like this, there are many factors that must be understood. Their minds are also not fully prepared, and also they probably won't even think about it because the money they are using is not their own money.

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Quote from: xSkylarx on March 10, 2023, 04:24:54 AM

If learning then there is no problem even if he tries the actual one because there is no age limit for learning trading, the problem is how he can deposit or even withdraw money because it needs KYC. There are trading simulators or demo accounts to try to trade for the minor but if he will try to be the real one he needs to be 18 years old unless he will use the identity of his parents. Though in legalities I haven't seen any restriction of age in trading unlike in gambling that there are really notice about it

It's very risky, of course, when letting children do real trading, but for learning, it's okay, he can use a demo account to learn it all. But to go straight to real trading it is better to wait when he is really ready. Try to give an explanation that makes him understand that what he is doing is very risky, and not easy to do, especially for children of their age. I'm sure if our approach and explanation is good, then they will understand.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

I will teach him if I were in your position, but I will also teach him to be patient, and I will teach him not to be too attached to the profits because I don't want to see him grow into liking money that much, but as soon as he turns 18, I will teach him full tutorials, and I will teach him everything he needs to be a successful trader, but doing it before that age will hasten it, however as I have said, it must not be too detailed. Don't forget to educate him how to remain emotionally detached; the outcome of trades might have an affect on what we do, and you don't want to see him upset when things go bad.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

For learning everything is legal, even you can create something on your own which is considered as illegal by your country but you need to destroy it once you created it and that's how the learning works. To register on a decentralised exchange there is no need for any kind of verification so it means he can even continue to trade even after he gathered enough knowledge about crypto currency trading and risks.

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Quote from: Sebas.tian on March 09, 2023, 10:27:55 PM

I will advise you to allow the children to reach 18 or 19 years before you can teach them how to trade cryptocurrencies in the market, which will really help them to catch up with your explanation so that they will not miss it in future. At the age of 10 or 15 years, it will be difficult for them to know how important their seeds phrase is to them, because they will feel is not necessary to keep them safe. Just try to encourage them to wait till they grow mature in away they will be able to embrace income and lost which are part of some of the things new traders will definitely come across in the market.

Their interest brings them to this place and wanted to learn which means that these kids are willing to be taught and accept ideas. They can't simply think about the risk and feel the stress as they are still in this stage of learning so there is no problem with this as long as they are permitted by their parents.
Anyways, it was just all about learning trading but in the case of letting them in actual trade, that is another story which a need for them to be on legal each before starting. But preparing them longer is an advantage for them when doing actual.

gaston castano

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I think the market is in a bad condition and the trend is bearish at the moment, so my advice is to stay away from trading for these children, maybe at this age children are already active in the digital world and I don't deny it, but to understand the market I think it takes several years of experience, and not based on theory because market conditions are always changing according to world conditions.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

It all depends on your country's rules and regulations. In my country the age limit for being a child and turning into adult is 18 years as it is in so many countries. You do not need to put your child that is below 18 years into cryptocurrency trading which is risky.
But for knowledge purpose, you can decide to teach your child how to trade if they are so concerned and happy about learning graphs and charts. You keep teaching them with a demonstration account. And before they could turn 18, they would understand much about trading and start trading easily and efficiently.

posi

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Quote from: Jody.Drummer on March 09, 2023, 01:40:49 PM

Actually there is no problem when they learn to trade, but to jump right into trading practice it would be better to wait 3 or 4 years first. The reason is that if he trades now, then the risk is higher, he is definitely still relying on the money given to him by his parents, so don't let it backfire on himself. He must understand what trading itself is all about. He also has to know in advance how it feels to make money so that what he does later will be careful with the money he has. In conclusion, wait 3 or 4 years, even longer after he really understands. Because this is not a game played by children.

Trading is not like holding, if he wants to learn about bitcoin and start saving in bitcoin from now on, we can consider that because saving with bitcoin is still much better than saving in fiat currency. But trading is not recommended because it is much harder than holding. 15 years old is too young to start trading, firstly, not old enough to create accounts on exchanges, and second thing, as you mentioned: he still uses his parents' money, this will not guarantee capital when trading, if he loses, it will be easy to steal his parents' money.

xSkylarx

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If learning then there is no problem even if he tries the actual one because there is no age limit for learning trading, the problem is how he can deposit or even withdraw money because it needs KYC. There are trading simulators or demo accounts to try to trade for the minor but if he will try to be the real one he needs to be 18 years old unless he will use the identity of his parents. Though in legalities I haven't seen any restriction of age in trading unlike in gambling that there are really notice about it

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Quote from: Sebas.tian on March 09, 2023, 10:27:55 PM

I will advise you to allow the children to reach 18 or 19 years before you can teach them how to trade cryptocurrencies in the market, which will really help them to catch up with your explanation so that they will not miss it in future. At the age of 10 or 15 years, it will be difficult for them to know how important their seeds phrase is to them, because they will feel is not necessary to keep them safe. Just try to encourage them to wait till they grow mature in away they will be able to embrace income and lost which are part of some of the things new traders will definitely come across in the market.

To anticipate such things, the first thing that can be explained to children is related to the risks of trading itself. so they will think about learning about the market first and also some skills. those who are not yet strong financially will think not to throw their money into trading.
in their minds, crypto trading can double their money fast. so even with the small capital they have. at least the profit from trading can be used to increase their pocket money.
we have to explain this carefully to children in this regard. maybe they will misunderstand crypt, market, and also Bitcoin.

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Well, there is no law that says teaching our kids to trade is illegal so technically speaking, it is legal.
The question is, can they do it? Can they handle the pressure? The stress? Can they be emotionless because that's one of the most important thing? Can they handle the losses? In general, do they really like trading?

Generally speaking, kids can't handle all of the stress that trading can give to them, so although teaching kids to trade is legal, I don't think that it is a good thing for a young kid to trade. Kids are very emotional, and that alone will just ruin it all causing them to experience losses along the way. Let the kids do what they want to do and just support them as a parent. Don't put them into something that is very risky like trading because it might cause negative effects on the kid instead of the positive ones.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

Trading is not easy and risky. So what more for kids?
However, if they're showing interest to learn about trading, they can learn as early as possible. But it should not be their priority since there's a time for them do it and that is when they already reach the legal age.

Moreover, we know trading is not for everyone hence there's no guarantee to succeed. For kids, learn the basics of trading and the things that a trader should know, start from there because in time you can apply it when you already do the actual trade.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

As far as I know, learning to trade or anything that will benefit him or he really wants is legal, as long as you won't do anything that breaks the law in your country. It's like teaching stuff in school, I can see no harm of a kid who wants to learn about trading, as long as it's all about knowledge and no actual funds included yet. You can give him a free trial account for him to test his knowledge out.

As long as there's a guardian for the kid in trading, I believe it is legal.

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I will advise you to allow the children to reach 18 or 19 years before you can teach them how to trade cryptocurrencies in the market, which will really help them to catch up with your explanation so that they will not miss it in future. At the age of 10 or 15 years, it will be difficult for them to know how important their seeds phrase is to them, because they will feel is not necessary to keep them safe. Just try to encourage them to wait till they grow mature in away they will be able to embrace income and lost which are part of some of the things new traders will definitely come across in the market.

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Quote from: tvplus006 on March 09, 2023, 02:51:45 PM

Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

...So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

Are you sure that your child dreams of trading cryptocurrency, or maybe he has his cherished dream of becoming a doctor or teacher. And if he spends enough time studying now, instead of learning the basics of trading, then he will have a great chance to get a good education.

It is better for a kid to go towards a career which will always be on demand and then learn how to trade on the side, after all while there are traders which are economists, you will also notice that many of them come from all kind of different professions, so it is not a must to pursue a degree on economics to become a good trader, you just need to learn from a teacher or a few books and that can be more than enough to make you a good trader if you study and practice for long enough.

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Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.

I researched and stocks has something about it but only allow to those who have parents account, it was more like custodial thing that involves the parents. It's risky if one thing that your kid had in mind was about the profit rather than learning on investing long term, they should have knowledge on the fundamentals and proper risk management should always be monitored here.

Kids these days are just driven by hypes especially flexing on social medias but I'd say there are kids out there that differs but I found it too scarce. It's not bad to keep them involved especially on investing since it's nice to have them know it financially, it's really best for child to keep them engaged, they'll learn over time.

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Quote from: SquirrelJulietGarden on March 08, 2023, 03:04:01 AM

Quote from: Sakanwa on March 08, 2023, 02:04:51 AM

I want to know if it right for children that are of 10-15years go in to trade or not

When I was a kid in age 10 - 15 years old, my parents mostly did not allow me to touch money. They bought food, juice, water and other things I need for my life and my education, they did it because they want to protect me from many risk related to money.

They did give me very small amount of money each day just because they wanted me to enjoy childhood fun like buying a candy, ice cream then enjoy eating it with friends at school. That's all and with such small money, I can not do anything else.

I don't agree to let your kids knowing about trading too much as they have yet been able to earn money and at such ages, they should concentrate on learning. That is better for their later lives. They should have time to enjoy most interesting time in life of each person.

If parents can not control themselves in trading, why do they think of exposing their children with trading and believe that their children will be able to control emotion.

Certainly, trading is for only matured minds and for those who have their own source of living so that if they lose, it would be easy for them to accept that since they never rely on it actually. But for minors who only rely their funds from their parents, entering into trading will never make them profitable, instead they will only lose their money because they still have no enough ideas on how to do trading effectively. Once they lost their money, they will ask again from their parents and then they’ll lose it again, so it’s clear that they can’t still manage their own emotions and might even develop addiction at an early age which for me is very bad for them. Instead of enjoying their money in school, they deprived theirselves from spending it so they can save them for trading.

Topic: Is it legal for our kids to learn trade? - page 8. (Read 1275 times)