Investing in cryptocurrency can seem daunting, especially for a teenager new to the world of cryptocurrencies. While it’s not illegal to buy or trade crypto if you’re underage, most major exchanges don’t allow minors to transact on their platforms. Have a look at the experts tips to invest in cryptocurrency here.
But what you probably don’t know is that the established investors or financial experts are not the ones leading the crypto movement as you might have expected. It’s the young people that are taking the leap and cashing in big.
Cryptocurrency investing has become a common practice among teens today, which has helped make the process of buying, storing, and trading so much easier. If you want to get in on the action too, here’s how to invest in cryptocurrency while you are still a teen. Or you can reach out to an expert like Viva Capital Management for more information.
1. Visit a Bitcoin ATM
Perhaps the easiest and most accessible crypto buying option for a teenager is a Bitcoin ATM. Currently, there are more than 20,000 Bitcoin ATMs spread out across the US.
It looks more or less like a regular ATM, except that a Bitcoin ATM allows you to exchange cash or money in your debit card for cryptocurrencies. A few of them allow owners to either buy or sell crypto.
2. Create a Crypto Wallet and Get an Adult to Transfer Crypto from an Exchange
The fact that there’s an age limit on most exchanges doesn’t mean there isn’t a less direct workaround. You can get an adult you trust to register on an exchange platform, buy, and transfer coins to your wallet. where you’ll store, receive and send cryptocurrencies securely.
3. Peer to Peer Exchanges
Essentially, a peer-to-peer exchange is where people trade cryptocurrencies directly with each other. As a teenager, such a platform will allow you to purchase coins and sell them from individuals without using an exchange platform.
How do peer-to-peer exchanges work? Crypto sellers create what’s known as “listings” that specify the amount they are charging for selling crypto, their preferred payment methods, and minimum coins per purchase.
4. Local Cryptocurrency Groups
Another way to invest in crypto as a teenager is through local groups. If you search on Facebook, Twitter, and other online forums, you are sure to find groups of other crypto investors near your home. People who create such groups often want to encourage people, including teenagers, to embrace crypto.
All the same, you need to be quite attentive when meeting with members of such groups and when trading with them, online or otherwise. If you want to hand over any money, be sure to verify your transaction on the blockchain.
How to Invest in Cryptocurrency as a Teen? The Options are Endless
As a teenager, you have a great opportunity to immerse yourself in the world of crypto and to learn its ins and outs. Rather than deter you, let your young age spur you to learn how to become an investor in crypto. Start with the ingenious methods listed in this article. Why wait to invest in crypto later when you can do it now?