Anyone who registers at a crypto exchange is required to prove their identity before utilizing the platform’s services. However, these entities have many reasons for wanting to know who is investing, buying, or selling blockchain tokens via their services. These trading websites want to know if you are legally approved to employ their services. So, how old must you be to buy cryptocurrency?
Before discussing the age requirements, it is essential to review human development. This will help people understand why they need to reach a certain age before venturing into crypto trading and investment. Mind you, this is no biology class.
Research shows that humans attain the optimum level of emotional maturity at the age of 18 years. As such, governments around the world set this as the legal age to transition into adulthood. More so, some countries even extend the legal age to 21 years. The reason is that they believe that teenagers (even at 18) are not capable of making the right choices.
This does not in any way or form mean that people cannot think before they turn 18. Instead, the country is more concerned with how individuals at certain ages deal with unlikely or unexpected events. It is not like people automatically develop some sort of emotional shield after turning 18.
Between the ages of 12 and 18, adolescents have started leaving their homes more frequently. As they do so, they tend to learn about the world in its true nature. Unlike their “good” and protective homes, these people get to learn that the world can be unkind as much as it is good. Familiarizing themselves with this reality creates a form of mental shock absorber.
In this regard, they will not be completely thrown off balance when a certain unwanted or unprecedented event occurs. After all, they have acknowledged that the world is good and bad. They will simply go, “Such is life,” and move on without holding on too much to the past.
As stated above, some countries consider 18-year-olds to be adults. There are other nations that only see individuals aged 21 and above as adults. In this regard, the jurisdiction determines how old you must be to buy cryptocurrency.
The reason is very simple. Like all innovations, cryptocurrencies are often used to exploit people. There are several scams that cybercriminals employ to dupe people, from fake coins to crypto bubbles. Considering the risks, it is essential for people to reach adulthood before engaging in crypto trading.
As adults, they have gained some level of independence and appreciate financial management. This means that they are less likely to use all of their income on investment. They understand that investing is a gamble and there are countless risks involved. These young individuals understand that only a percentage of their savings should be invested. Such that they can easily recover from a failed investment.
Legally? No. People who are below 18 cannot buy cryptocurrency. However, there are numerous adolescents below the required age who still go ahead and invest in blockchain tokens.
Nonetheless, crypto exchanges often limit the actions users can undertake without completing the KYC. Therefore, anyone who does not have a recognized government ID will not enjoy optimal trading experience.
Now that you understand how old you must be before you can buy crypto, it is time to introduce you to an innovative project. Tectum is the fastest blockchain that houses a comprehensive ecosystem. Besides the native T12 network, there are several other products in this system.
The most prominent one is the SoftNote Bill – a crypto cash or Bitcoin payment system. This technology allows people to send Bitcoin for free without paying zero gas fees. The service is also available for e-commerce and store merchants. They will only be charged 1% of the transaction in fees.
That said, you can purchase the cryptocurrency powering this ecosystem from the following exchanges:
Note: Trade responsibly.
