Buying crypto: important points
The digital world is so huge; almost everyone has an interest in getting into it. Naturally, inexperienced people who have never used the Internet before and do not know what virtual money is and asking where can i buy trx coin will not understand what is what. But there are those people who, even at the age of 18, begin to realize that the world of cryptocurrency is very comfortable for making money. Then only one question is created: how old do you have to be to buy crypto? Is it possible to buy cryptocurrency if you’re not an adult?
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Now let’s get back to the sensational issue that is on the agenda. Is it possible to invest from a young age?
Proper conversation with a child
There is no such law where it would be forbidden for children to acquire cryptocurrency. But the first problem that a child will face if he suddenly wants to delve into the digital world is the acquisition of mining equipment. Firstly, it is too expensive, not all teenagers have a lot of money to provide themselves with full access to the open virtual world. Secondly, this is a too complicated system with names that the child simply won’t remember the first time, it will be difficult for him to understand and navigate. Also, children from 14 to 18 years old can conduct transactions, trade, and exchange and buy things only with the written consent of their parents – and all this is not based on the Civil Code. As for earnings, here, the children already have the right to dispose of it themselves and spend it as they please.
The starting point, when the child already has the right to decide what he wants to do, is the age of 14, i.e., the very beginning of adolescence. In any case, if the child expressed a desire to understand the crypt, then it is necessary to convey the information to him that the cryptocurrency is a speculative asset, i.e., not one hundred percent money, which will be for all occasions. Since the financial literacy of a teenager is not so great – and this is the situation in many fears – the phenomenon of school traders is getting stronger every year. At the age of 14, some teenagers can have an impressive investment portfolio.
These children are supported by financially active parents who are open to financial dialogues with their children and provide some freedom in this regard. Unfortunately, teachers don’t teach this at school. It is important to have a conversation with the child and to answer his question about how old you have to be to buy crypto, to answer correctly and competently. For example, it is interesting and useful to motivate a child to spend his own money so that from an early age, he has a taste for earning money and a desire to invest in things that are important for his life. If every time you tell a child that multiplying money is an important thing, then he will always be focused on savings, and will also begin to understand assets and liabilities. By the way, in this sense, cryptocurrency acts as an asset.
Ideal age to start
It’s great if a child, from an early age, thinks about his own financial airbag and wants to develop, pulling up his own financial literacy. It’s a great attitude toward life. But let’s be honest and take off the rose-colored glasses. Despite the fact that the legislation tells us that from the age of 14, you can already be drawn into the digital world, in fact, not all children are ready to plunge into it with their heads. At the age of 14, the child’s brain is just beginning to perceive the world in a special way, as this is the beginning of a transitional age. The child begins to show his own opinion, refuses the things that others advise him. It is unlikely that he will become interested in the crypto world when there are other pressing problems around that will be much more interesting than finance. All this leads to the fact that the ideal age for immersion in crypto from 18 years old, when a person can already consciously come to this, and understands why he needs it.
You can invest from the age of 18 because this age is considered the beginning of the path, where there may be mistakes that are worth learning from. What about the cons if the child starts to delve into the crypt much earlier?
- Fraudsters. These people are very fond of looking for inexperienced investors who have just begun to show interest in crypto. At every step, you can run into scammers who also act as traders. The child believes everything and is unlikely to understand that on the other side of the screen, in front of him, sits a scammer who is over 30.
- The lack of savvy financial literacy. As mentioned above, schools do not provide the flow of knowledge in finance that is needed. After all, all this is studied not in 5-10 lessons but much more. Since there are other equally important school subjects that need to be studied before grade 11, the issue of financial literacy fades into the background. A person, having graduated from school, will decide for himself whether he is studying financial literacy or not. But since most children do not come to this, there is only one conclusion: the world is full of financially illiterate people. And this leads to the fact that the participation of such people in the crypto world is not entirely correct since they do not know much.
And all this is only a small part of how old you have to be to buy crypto. Each person comes to this conclusion over time when he really wants to prove himself and do these things.
The state always advocates for the interests of the child, the poet believes that an early age is still too inexperienced a moment when one should dive into the world of cryptocurrency. Thus, the state restricts the freedom of the child in the digital world if he suddenly wants to make a financial transaction. Exchange trading is too dynamic, sometimes, an adult, experienced person cannot spot them, what can we say about a child?
The price does not change every day but every hour. For each transaction, parents must give written consent and present it to the broker if the money for the transaction is allocated by them. If the child invests money received, for example, during a summer job, then such consent is not required. If the child lives with guardians or trustees, the permission of the guardianship authorities is required to participate in exchange trading. Think a few times before dragging your child into this huge world called cryptocurrency. Maybe is it worth growing up a little and getting smarter, gaining strength and brains in order to later reach a new level of knowledge and clearly decide for yourself what you want from life?