Cryptocurrencies have become increasingly popular among investors and traders, and for good reason. They offer a decentralized, secure, and potentially lucrative way to invest and transact online. However, if you're under 18, you may face a few hurdles in buying cryptocurrency due to legal restrictions and the lack of access to certain financial services.
In this article, we'll explore some tips and strategies for how to buy crypto if you're under 18. Whether you're a young investor looking to dip your toes into the world of cryptocurrency or a tech-savvy teen looking for a new way to transact online, this guide will provide you with the information you need to get started.
What Are the Risks of Buying Crypto Under 18?
If you are considering buying crypto and you are under 18, you should first consider the risks. One of the biggest risks is that you may incur significant losses. This is because you likely don't have much financial or investing experience, and you may make poor decisions based on your friends, or what you have seen on social media. Before you buy any cryptocurrencies, you should speak to your parents or another responsible adult. Also, you should never invest more than you can afford to lose, and never use someone else's money (eg: your parents') to buy crypto.
Another risk is that you may be at risk of fraud or theft when dealing with crypto exchanges. As an under 18, you may not have the knowledge or experience to detect whether something is a scam. In our article we will only recommend you reputable, legitimate crypto exchanges that you can trust. You also need to be careful about keeping your identity and personal details private, so that you do not have your funds stolen by hackers.
What Are the Benefits of Buying Crypto Under 18?
Despite the risks, there are several benefits associated with buying crypto under 18, listed below.
How to Buy Crypto Under 18
While there is typically no specific legal barrier preventing individuals under 18 from purchasing cryptocurrency in most countries, many leading crypto exchanges have their own policies prohibiting minors from signing up and buying digital currencies.
However, there are a number of crypto exchanges that do not require the submission of Know Your Customer (KYC) verification, making it possible for minors to buy crypto without ID. All you need to do is select one of the crypto exchanges from the list below, sign up, deposit money, and buy crypto!
Best Crypto Exchanges for Under 18s
#1. Bybit: Top exchange to buy crypto under 18
For individuals under 18 looking to buy cryptocurrency, Bybit is our #1 recommended crypto exchange. With over 10 million users and trading volumes exceeding $10 billion per day, Bybit is a global platform that offers a range of convenient payment options, including credit/debit cards, bank transfers, and Google Pay or Apple Pay. While a limited selection of coins can be purchased directly with fiat currency, including popular options such as BTC, ETH, and USDT, users can access over 220 coins by buying USDT and trading it for their preferred cryptocurrency.
With low trading fees of just 0.1% for spot trading, Bybit provides an affordable means to buy cryptocurrency. However, US residents are unable to access Bybit, as the platform blocks IP addresses from the USA. Nonetheless, individuals from the US may still be able to use Bybit by utilizing a VPN to circumvent this restriction, although this practice is not recommended. It's important to note that Bybit does not require ID verification, but misleading the platform by falsifying one's location is not advisable.
#2. MEXC: Best place to buy crypto if you're under 18 in the USA
If you are based in the US, MEXC is the ideal platform to buy cryptocurrency. This popular exchange offers a range of payment options, including credit and debit cards, Apple Pay, and Google Pay, and provides access to an impressive 1,520+ coins – more than any other platform. Trading fees on MEXC are also very low, starting from just 0.0/0.1% for spot trading and 0.0/0.03% for futures trading.
For users looking to expand beyond buying crypto and into trading, MEXC's Copy Trading feature is a fantastic option. This innovative feature allows users to copy the trades of experienced traders, enabling beginners to learn about the markets and make profitable trades without conducting their own research or monitoring the markets.
To further support users' education in trading, MEXC offers a free crypto trading course designed for beginners. The course covers everything from the basics to technical analysis, using screenshots from the MEXC platform to provide a more practical learning experience. With this course, users can quickly become pro day traders.
Finally, new users who sign up with MEXC using our unique link will receive $30 USDT for free, as well as a 10% discount on all trading fees. This offer allows users to start buying and trading cryptocurrency while keeping more money and crypto in their pocket.
#3. KuCoin: Buy a wide range of 700+ coins
For those who are under 18 and looking to invest in cryptocurrencies, KuCoin can be a great option. This popular platform offers access to a wide range of crypto assets, with 700+ coins available for trading. With plenty of payment options, including credit and debit cards, prepaid cards, and Apple Pay, buying crypto is easy and accessible. If you are interested in trading your crypto, KuCoin's low fees of just 0.1% can help you keep costs down. And if you pay your trading fees using KuCoin's native token (KCS), you can enjoy a discount of 20%, lowering the fees even further to just 0.08%.
For those who want to use a trading bot to take advantage of crypto market volatility, KuCoin offers its own free bots directly on the exchange. This eliminates the need to connect an external bot to the platform. Currently, KuCoin offers a variety of bots, including Spot Grid, Futures Grid, Smart Rebalance, DCA, and Infinity Grid bots. This can be a great way for young investors to benefit from the crypto market, even while they sleep. However, it's important to remember that investing in cryptocurrency is inherently risky, so it's essential to do your research and invest only what you can afford to lose.
What Are the Best Resources for Under 18s Learning About Crypto?
There are plenty resources available online helping people learn more about cryptocurrency. This ranges from basic concepts right through complex topics related to blockchain technology. We recommend this free trading course for beginners, if you are interested in learning how to trade like a pro. You don't need to download, sign up, or provide any credit card details, it is a completely free online course.