Using Bitcoin and altcoins when under 18 - page 8.

Fredomago

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Quote from: chickenado on February 10, 2017, 11:55:47 PM

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.

You can trade in many exchanger site, like c-cex, yobit, cryptopia, and many more. They don't need your age just create account and trade. I don't know if there's a rule in their site that under 18 is not allowed. But I have account there without knowing my age and i can trade altcoin.

well polo also not asking for any other info as far as i know if you have valid emails you can create accounts and trade the only thing is if happen that you got some issue with legalities, if your funds got freeze and you need to provide personal info that is a problem with that but as long as you are willing to risk you can still do trading.

chickenado

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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.

You can trade in many exchanger site, like c-cex, yobit, cryptopia, and many more. They don't need your age just create account and trade. I don't know if there's a rule in their site that under 18 is not allowed. But I have account there without knowing my age and i can trade altcoin.

naidray

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There is nowhere that says it is illegal to trade bitcoins or Alt Coins under the age of 18.
However, if you read the TOS of a website, you will notice that most require you to be 18 years or older. You agree to these, so you are bound to them. As someone mentioned earlier. if they were hacked and gave refunds, then that would require identification. Taxes also can affect this, because of capital gain.

BigBos

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Well, I think there is no age limit to recognize bitcoin and use. even you can play trading, when you already know that. but, I think it is too risky for a person who is under 18 years of trading. but, it's up to you.

AttorneyBitcoin

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Quote from: PremiumMaster on January 23, 2017, 05:48:05 PM

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.

Short answer: Yes
Long answer: Yes you don't have to be 18 years old to purchase or sell bitcoin. I'm currently 15 and I never ran into roadblocks of buying bitcoin or alt coins. You can buy bitcoins at any age. Although if you're going to turn physical cash into bitcoin or you're going to turn bitcoin into physical cash you're going need a parent's or guardian's bank account.

You're welcome. I hope this answered your question.

The articulate and astute answer from the 15 year old is rational. There was another answer that gave an example of children and teenagers using money to purchase things in a store. They didn't need a parent with them. Now, if a 7 year old brought in two thousand dollars in cash to Fry's to buy a gaming computer, any reasonable person would locate his parents, or call the authorities.

I think the issue is converting it to cash and yes, you can have your parent or guardian set it up for you and then name you as ITF (In Trust For.) Of course the parent or guardian could take money out of there without your permission. Maybe they will let you have an ATM card. You might also look into converting the BTC into a gift or pay card.

Best:

George D. Greenberg, Esq.
www.attorneybitcoin.com

zeze18

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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

marketone

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No one will their personal information when it comes to money earning, all will provide wrong information when they are registering. But many people are using same techniques when it comes to bitcoin and altcoin trading.

_nur

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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.

convert it to bitcoin from altcoin

audaciousbeing

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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.

The reason why I guessed the very rampant age restrictions about bitcoin is really about the vices someone might get exposed to in this crypto world such as scams, gambling which have to come along with taking responsibility that is lacking in kids. But at the same time since bitcoin is about anonymity then there is really no need for whether one is underage or not. When a site is asking for too much details about me, age inclusive, I just move on to the next site offering the same service.

maku

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Quote from: Amph on January 20, 2017, 02:44:31 AM

you can try poloniex or bittrex for altcoin trading, i don't remember bittrex asking for any minimum age for trading, nor they can't prove it, because they don't even require document for trading that do not involve fiat

I don't trade od Bittrex but I checked their site and I found this:

What are the different levels of verification?

"We support two types of accounts.

Basic accounts can trade up to $2000 or digital currency equivalent per day
Enhanced accounts have no trade limits and have access to our fiat markets once they are available"

How do you verify accounts?

"Basic accounts require users to submit their name, address, and birth date to us. We verify it through public records.
If we can verify you through public records, we will accept your application for a basic account. If we cant, you will need to apply for an advanced account."

And now I am not sure abut this statement: What does it mean they verify it through public records? What public records they are talking about?

https://bittrex.zendesk.com/hc/en-us/articles/215282838--Draft-Frequently-asked-questions-about-account-verification

zombijs

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Either fake it. Or use some 18 year old friends/parents

dhampir-D

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Quote from: darkangel11 on January 20, 2017, 11:16:57 PM

You can trade BTC and altcoins at any age. Some exchanges require you to accept TOS, where it's written that you have to be over certain age, but it won't really matter to them if you're not. The only problem you might have is if the exchange gets hacked or loses your funds, because in such case they could ask for an ID and bank account/ address to repay you. Also if they lose your money it will be hard to get it back (TOS violation on your part).

I had some doubts about that, but this clarifies some things. And with regard to exchanges, in fact the occurrence of such events could make things difficult for people who are not willing to provide more information, and the possibility of such scenarios should not be underestimated... even exchanges considered reliable can go through problems. No one imagined what would happen to Bitfinex what happened last year, for example.

deadsilent

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Do exchange sites implementing age limit? If thats the case. You should go to decentralized exchange.
Afaik. Exchange sites dont require any document to identify the trader and his age. But if youre not allow to trade. Decentralized exchange is youre only choice. Bitsquare is a good decentralized exchange. You should try it.

marketone

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Quote from: Amph on January 20, 2017, 02:44:31 AM

you can try poloniex or bittrex for altcoin trading, i don't remember bittrex asking for any minimum age for trading, nor they can't prove it, because they don't even require document for trading that do not involve fiat

The main thing is we don't read all TOS terms and condition before registering, just simply we will hit submit button. Many exchanges will specify this age restriction in their site, because the owner of exchange should not be in trouble it seems.

markyminer

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Quote from: legendbtc on January 27, 2017, 09:57:59 AM

Quote from: Immakillya on January 24, 2017, 09:18:25 AM

You know theres a lot of exchangers over the internet. Poloniex, c-cex, yobit, bittrex, bitfinex, mtgox, kraken and others. Those are exchangers which you can exchange your altcoin to bitcoin and make it cash. Just pick one. Some exchange are centralized. You need id to verify your account. But there are exchange which are decentralized. Just search it on google😎

Many exchanges are there where you can exchange your altcoin into bitcoin, but before that they will send confirmation email to concerned registered email regarding on withdrawal. I hope there is no obligation for people who are below 18 years, even below 18 years will register as above 18 years and they will start trading who know what's their exact age is.

yes that is not a big problem i think. and it think bitcion also have no concern with age. i think bitcoin is created for the purpose to be use as online currency, therefore i think there is no restriction on any one to use currency. in relay life i we can see that children use money that they get from their parents to buy something from local shops therefore i never think that there is any restriction on the people who are under 18 to use bitcoin.

legendbtc

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Quote from: Immakillya on January 24, 2017, 09:18:25 AM

You know theres a lot of exchangers over the internet. Poloniex, c-cex, yobit, bittrex, bitfinex, mtgox, kraken and others. Those are exchangers which you can exchange your altcoin to bitcoin and make it cash. Just pick one. Some exchange are centralized. You need id to verify your account. But there are exchange which are decentralized. Just search it on google😎

Many exchanges are there where you can exchange your altcoin into bitcoin, but before that they will send confirmation email to concerned registered email regarding on withdrawal. I hope there is no obligation for people who are below 18 years, even below 18 years will register as above 18 years and they will start trading who know what's their exact age is.

Immakillya

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You know theres a lot of exchangers over the internet. Poloniex, c-cex, yobit, bittrex, bitfinex, mtgox, kraken and others. Those are exchangers which you can exchange your altcoin to bitcoin and make it cash. Just pick one. Some exchange are centralized. You need id to verify your account. But there are exchange which are decentralized. Just search it on google😎

bering

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Quote from: adam440 on January 20, 2017, 08:38:46 AM

So if I convert only ETH/BTC for example on Poloniex, there shouldn't be problems? And how about BTC/USD? I currently don't want to convert it to USD but just in case.

because your age still under 18 then probably you don't have personal ID however that should be no problem in poloniex as long as your transactions equally $2000 or less i think they will never ask personal ID to able to withdraw your bitcoin but if you want to withdraw huge amount of bitcoin verify your account is necessary but you could ask favour to your family or to someone who have poloniex with verify account

PremiumMaster

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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.

Short answer: Yes
Long answer: Yes you don't have to be 18 years old to purchase or sell bitcoin. I'm currently 15 and I never ran into roadblocks of buying bitcoin or alt coins. You can buy bitcoins at any age. Although if you're going to turn physical cash into bitcoin or you're going to turn bitcoin into physical cash you're going need a parent's or guardian's bank account.

You're welcome. I hope this answered your question.

TastyChillySauce00

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Quote from: Btc_1856 on January 22, 2017, 01:36:31 AM

Quote from: darkangel11 on January 20, 2017, 11:16:57 PM

You can trade BTC and altcoins at any age. Some exchanges require you to accept TOS, where it's written that you have to be over certain age, but it won't really matter to them if you're not. The only problem you might have is if the exchange gets hacked or loses your funds, because in such case they could ask for an ID and bank account/ address to repay you. Also if they lose your money it will be hard to get it back (TOS violation on your part).

Exactly many exchanges requires to accept TOS without accepting we cannot move forward. Yes but till now i din't face any problem like hacking but when you want to trade either bitcoin and altcoin you need to accept their TOS.

The majority of altcoin exchangers don't require a verification by uploading government ID to allow you to start your trading activities there but, if you're going to increase the limit then they will require.
The opposite happen to the bitcoin exchangers which accepting some kind of bank transfers and credit card, they will strictly require verification ID to prevent from any fraud transaction.
And as you said, it's right that you must accept their TOS if you have desire to use their service and the TOS may vary for every exchangers.

Topic: Using Bitcoin and altcoins when under 18 - page 8. (Read 10205 times)