Using Bitcoin and altcoins when under 18 - page 5.

Gotottack

hero member

Activity: 882

Merit: 506

Quote from: target on January 20, 2017, 02:53:00 AM

I don't remember being asked about my age when I register on exchange sites, I have register to almost all exchange but I have never been asked for IDs as well.
They know we all wanted privacy that is why we are using cryptocurrencies, the only problem you can encounter is cashing out btc from websites that asks for IDs.

Try the reputable people here in the forum, some of them buy BTC through paypal. I said reputable so be careful trading with someone, its like sharing an information and at the same time paypal can be disputed.

Exactly! I do not remember a time I was required to fill in my age when it comes to handling my Bitcoin accounts because the idea of cryptocurrencies is its anonymity. Of course, you have to have your own bank so you can transfer your Bitcoins through it. What is relevant is your compliance with your bank's requirements (age and etc.) for conversion purposes. But, when it comes to Bitcoins, our identities need not be revealed.

madwica

hero member

Activity: 714

Merit: 531

I agree that there is no restriction on the age for using bitcoin or any coin in crypto currency. Here in crypto currency all people have freedom to used but there are some country which bitcoin and other coin was restricted or already banned. Luckily i am on the country which bitcoin is not ban and i know that bitcoin is very popular in my country and me and my cousins start to earn with bitcoin some of them are only 15 years old of age.

rjcnzy

member

Activity: 112

Merit: 100

Yes, till now there is no specific restriction on bitcoin usage because we don't how many people are using below age under 18.As Bitcoin is not traceable and is not controlled by the government. If it controlled by the government than there is some age restriction for bitcoin usage and even same with altcoin also.

Xanxus024

full member

Activity: 434

Merit: 104

i don't know if has any restriction if you are under 18, but other say they have some legal issue if you are teenager or under 18 and some teenager used coinbase because they sent an online form to sign for their parents including passport id scan of teenager and parents, and written letter of parents with sign. but if I'm under 18 it easy to fake those documents that will send online.

bacardibacani

newbie

Activity: 34

Merit: 0

A minor may trade/exchange cryptocurrencies. Authorities don't really care, unless you're transacting huge values of the coins in and out of the country. My nephew's only 12 and he's already mining ETH, I don't see any limit for him to spend those ethers. Cheers!

J. Cooper

full member

Activity: 294

Merit: 125

Alea iacta est

I think as an underage person you should be fine setting up an account without providing any information about your age. I signed up on both bittrex and poloniex and I didn't have to fill in anything of that kind. You will have to verify your ID (and thus your age) when you're moving 2k+ in and out of your account.

Granxis

hero member

Activity: 1400

Merit: 536

I do not think it will be a benefit to have a younger age because especially the young ones are more informed about computers, but those who are older are more knowledgeable about finance. I think it's best to be middle-aged

kodtycoon

legendary

Activity: 1568

Merit: 1002

Using bitcoin under the age of 18 does not matter if he understands the working system of cryptocurrency, bitcoin and altcoin have their exchanges, so I think do not there's anything to worry about that.

jekjekman

sr. member

Activity: 378

Merit: 250

Quote from: adam440 on January 19, 2017, 10:56:14 AM

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

Since your coins are from mining and you are less than 18 if the exchanges on your country prohibits you from
converting it what you can do is ask your parents to have it converted or a relative to do it for you.

I assume that your parents are aware that you are mining and the source of your coins are legitimate so there will be no problem for that one.

Jovovich

full member

Activity: 316

Merit: 110

Quote from: MiF on October 17, 2017, 03:25:04 AM

Quote from: adam440 on January 19, 2017, 10:56:14 AM

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

I think no trading sites and event foreign and local wallet will requiring age for membership, as long as you know how to transact and trade you could convert your altcoins and bitcoin to paper money. Even if they requires age they cannot know if you are telling the truth or not except if we sign up personally. You can trade to C-CEX and JAXX for the series of altcoins then still it will not require age when you sign up.

Maybe he meant some verifying account. Because from what i know, you will need to id's to have your account authenticated. And somtimes student id is not valid for any exchange sites that will require verification. Probably op needs to find more services in his country because sometimes those services depends on what is in the country. He can deposit without the required age but i think he cant withdraw until he is verified.

MiF

sr. member

Activity: 1442

Merit: 258

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: adam440 on January 19, 2017, 10:56:14 AM

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

I think no trading sites and event foreign and local wallet will requiring age for membership, as long as you know how to transact and trade you could convert your altcoins and bitcoin to paper money. Even if they requires age they cannot know if you are telling the truth or not except if we sign up personally. You can trade to C-CEX and JAXX for the series of altcoins then still it will not require age when you sign up.

imsotiredofmoviereboots

full member

Activity: 476

Merit: 100

If we are going to limit the age of people on bitcoin then the mass adoption is useless. It should be used by anyone who knows and understand how to use it. Ages 12-17 are the people who likes to buy most so bitcoin needs them.

kimochidesh

sr. member

Activity: 518

Merit: 257

Trading in Crypto-currency does not require age proof. Being decentralize, BTC is totally unbias to age, gender, color, religion etc.
But yes if you need to convert your crypto-currency to real money like dollar, pound via bank account, you need to be holding a bank account which could only be opened after being 18. You can open a minor's account in bank but that need your parents proof and all the money earned would be taxable for the parents.

marcbitcoins

full member

Activity: 854

Merit: 108

Quote from: adam440 on January 19, 2017, 10:56:14 AM

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

There is no trading sites even wallets that requiring age limit, it just like joining any social accounts even children can sign up as long you know how to use it. You are free to input any age what you want during the fill up form because it will not require to submit your birth certificate as proof of age but here in our country we will required to submit government ID when joining our local exchanger to verify our true identity and age.

BunnyShibe

sr. member

Activity: 350

Merit: 250

Quote from: denny27 on October 11, 2017, 02:14:48 AM

On basically using bitcoin and altcoins under the age of 18, I think it should not be arbitrary or careless steping to make some efforts or things in the world of crypto currency. I think have to more reading first and really know all the things that are related to bitcoin and altcoins, as well as to ask people who more experienced before stepping. With that, will be get more insight being knowing and as a material to step getting a profit from bitcoin / altcoins, the ages may affect the level of risk that will be obtained i guess, just be carefull.

When bitcoin prevail all over the world then using bitcoin will not for specific limit of age. As all the pope of every age can use their regular currency same they will use bitcoin for anything. Age will never effect on the use of bitcoin. I think it is good for under 18 to use bitcoin because they will learn how to buy, how to sell and how to use and where to use. They will easily make money with bitcoin when they grow up.

nazzzzz

member

Activity: 75

Merit: 10

Quote from: adam440 on January 19, 2017, 10:56:14 AM

Hello,
I'm wondering how can you trade with bit/altcoins when you're under 18 years old. I currently need to transfer some ethereum coins (earned by mining) to bitcoin and eventually to real cash. I know that you can use LocalBitcoins.com, however you can only trade bitcoin here. How about altcoins?

Thanks.

i think this is one problem of bitcoin Because under 18 when get money can sell pron or Drugs which is so risky

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: GreenBits on July 27, 2017, 07:57:00 PM

Quote from: amandavsc on July 20, 2017, 07:56:07 PM

I think most exchanges do not ask for their age. You can also use your father/mother ID

DO NOT MAKE THIS MISTAKE. Take it from me, I used to work at CEX.

Its fine for an underage to have bitcoin, at least here. Its property/value; kids can have money all day without breaking any laws. But using a platform is an entirely different beast. The platforms have a liability to protect children from certain content, and prevent them from engaging in activities that might be illegal (say like, trading illegal securities for example). They establish a TOS to protect themselves in this; you usually agree to the terms in order to use the Service. If If you lie about you age, they are under no obligation, legally, to return your funds to you. So if you get locked for a verification check, and you cant provide proper ID, you may not have recourse for obtaining your funds.

which brings me to another thing, lying to an exchange about your age/identity. exchanges follow strict aml/kyc law; they must know who you are in order to accept and hold more than X money from a person. when you lie, you make their job harder, and bring them out of compliance if its found they have lax identification policy. so they have little incentive to help you; you lied, they have your money, and you cant do too much to change any of that.

Ive seen it happen. Undecided

Dont fuck around with this, you will be disappointed eventually.

Very good point mate. If the trading platform "caught" you cheating their system by lying about your age and all the pertinent information then you are fuck up specially when you are about to withdraw all your funds and can't because they needed verification for KYC/AML complaint. Its no different from gamble sites as well. I remember there was one member here who's account get lock and further investigations show that he is really underage but showing proof of his parents or something like that. He/She wasn't able to withdraw their money because from the very beginning they have intended to cheat the system.

denny27

full member

Activity: 546

Merit: 101

★Bitvest.io★ Play Plinko or Invest!

On basically using bitcoin and altcoins under the age of 18, I think it should not be arbitrary or careless steping to make some efforts or things in the world of crypto currency. I think have to more reading first and really know all the things that are related to bitcoin and altcoins, as well as to ask people who more experienced before stepping. With that, will be get more insight being knowing and as a material to step getting a profit from bitcoin / altcoins, the ages may affect the level of risk that will be obtained i guess, just be carefull.

orions.belt19

full member

Activity: 700

Merit: 148

Quote from: Iranus on March 18, 2017, 02:30:35 PM

Quote from: JANGKRIK BOSS on March 15, 2017, 11:22:08 PM

Quote from: Gameroid on March 13, 2017, 06:29:57 PM

Quote from: zeze18 on February 03, 2017, 11:23:42 AM

I think the digital currency trading as altcoin and bicoin not have rules about age restrictions, but for the security of your wallet better use the original ID to be verified, to anticipate if there are improvements that require ID verification system

yes there is no age limit in using or trading bitcoin or any other currency but still i will like to say that the children who are under 18 they should first complete their study and when they become free then they should try to invest their money in trading bitcoin and alt coin.

Yes true, bitcoin and altcoin are the same as real money, anyone is free to earn, save and use. The most important is do not use it for illegal transactions such as the purchase of drugs, weapons, and more.

Yes but actually gaining Bitcoin is a different matter.

Unfortunately you can't really use exchanges as nearly all them try to verify your age in some way and if you were found out it would be a problem.

I think that most altcoin exchanges don't actually verify your age, whether or not they suggest that you should be over 18. In that case, you could buy Bitcoin with a debit card (which services occasionally allow without ID for small amounts), or an altcoin if that's more convenient and you can keep away from scams, and you could trade it pretty well.

In the spirit of Bitcoin's privacy, most services won't verify your age and you should be OK.

I don't see the need for an age restriction nor do I think that any jurisdiction would impose one. Bitcoin is dangerous to use for the young ones and so is money but there is no restriction for anyone under the age 18 which prohibits them of the use of money. Some wallets requires the need of identification but besides that, age shouldn't be a problem. Bitcoin is available for anyone to use regardless of their age and no law should discriminate on that.

Theb

hero member

Activity: 1680

Merit: 655

Basing it from experience I don't recall any exchanges that ask for identification cards in order to have a functional trading account I have used yobit, poloniex, and bittrex in the past and all of them had worked for me and they never asked my personal info only my email. So in short even if you are still a minor you can trade altcoins in those sites, but before startinv to trade you must learn how to study charts first in order to lessen the risk involve.

Topic: Using Bitcoin and altcoins when under 18 - page 5. (Read 10217 times)