I remember the first time I heard about Bitcoin and crypto investing
I was excited and wanted to explore the cryptocurrency world; that was in 2016.
Cryptocurrency was not as popular as it is today; only a few people knew about it.
The cryptocurrency world has captured the hearts of everyone, and the buzz about it is so loud that everyone, including teenagers, is looking for ways to invest in crypto.
In this article, I will share tips on how to invest in crypto under 18 and the risks involved. I will also be showing you how to mitigate the risk so that you can get a good return on your crypto investment in the future.
If you’re ready, let’s dive in.
How To Invest In Crypto Under 18: 4 Easy Steps
1. Buy From Someone Around You
This method is the easiest to do.
You can join crypto investing groups on Facebook and request to buy crypto.
Ensure whoever you’re buying from is within your location, and you can meet in an open place.
To be able to buy crypto from someone, you need a wallet.
A crypto wallet is a digital bank that helps you store your crypto tokens.
You can create a trust or atomic wallet for this purpose.
After you’ve created the wallet, you can meet the person you want to buy from and complete the transaction.
2. Use A Decentralized Exchange
Due to the age restriction of most big crypto exchanges like Binance, you can use a decentralized exchange.
What Is A Decentralized Exchange?
It’s a type of exchange that operates without a centralized authority or intermediary.
Decentralized exchanges are peer-to-peer trading platforms where people trade cryptocurrency with one another without giving their funds to a centralized authority.
Binance, coinbase, and Kraken are centralized exchanges.
Examples of decentralized exchanges include uniswap and pancakeswap
3. Use A Bitcoin ATM
There are over 39,000 Bitcoin ATMs in the world where you can buy Bitcoin and other cryptocurrencies.
Most Bitcoin ATMs only ask you for your email address, phone number, and wallet address.
You deposit cash into the ATM, and it sends the Bitcoin or any other cryptocurrency to your wallet almost instantly.
4. Use Atomic Wallet
Atomic Wallet lets you buy crypto directly from the app using a credit card.
If you have a credit card, you can connect it to the wallet and buy any crypto you desire, and it will reflect in the wallet instantly.
5. Ask Your Parents To Help You
With the permission of your parents, or if you have siblings above 18, you can sign up with their details on centralized exchanges and have them verify the account on your behalf.
When the account is verified, you can start your crypto investment journey.
What You Need To Know Before Investing In Cryptocurrency
6. Educate Yourself
Before I started my crypto journey, I watched over 200 YouTube videos and read over 7 crypto books.
I recommend you get some education to help you understand the cryptocurrency ecosystem.
Cryptocurrency might sound exciting, but it comes with a lot of risk.
Before investing, learn about cryptocurrencies and blockchain technology.
You can’t effectively invest in what you do not know about.
7. Invest What You Can Afford To Lose
The cryptocurrency world is like a wild jungle where you can lose all your funds in the blink of an eye.
You could be in profit with your investment one minute and be in huge loss the next.
Such was the case of LUNA coin, which lost 96% of its value within 24 hours.
You might need a crypto coach or mentor as you start your crypto journey.
A mentor would help you navigate the volatile markets.
Ensure you invest what you can afford to lose to avoid feeling bad when your investment is wiped off.
8. Get Your Parents’ Consent
Depending on the kind of parents you have, you can inform them about your interest in cryptocurrency investing.
If you have conservative parents, they might find it difficult to understand the exciting world of cryptocurrencies, which can diminish your motivation.
You have to use your discretion to decide if you should inform your parents.
It would be nice to inform them, but if you have conservative parents, they might not understand you.
9. Start Small And Monitor Your Investments
Since the crypto world is full of uncertainties, it’s essential to start investing with your spare cash to understand how it works.
Invest small amounts, and with time, when you have a better understanding of the crypto world, you can invest more.
It’s also essential to monitor your investment to know when you’re profitable.
10. Diversify Your Portfolio
Diversification is a fundamental principle of investing.
Don’t put all your funds in one cryptocurrency. You might lose everything.
Since you’re just getting started, you can invest in 2-3 different cryptocurrencies to reduce risk.
11. Stay Informed
In the crypto world, there’s always something new.
That’s why you have to stay informed so you can take advantage of any new opportunity that comes up in the crypto world.
You can follow crypto news platforms like Cointelegraph to get the latest information that would help your investment journey.
How To Trade Crypto Under 18
If you want to actively trade the crypto markets as a day or swing trader, you can use any of the following exchanges.
They allow you to trade without ID verification, but some have limited functionalities until you’re fully verified.
Some crypto exchanges under 18 include:
Bitforex
Bybit (Recommended)
Apps To Buy Crypto Under 18
You can use any of the listed apps below to buy crypto within minutes
Atomic wallet (Recommended)
Changelly
ChangeNow
Frequently Asked Questions
Can I Invest In Crypto At 16
Of course, you can invest in crypto at 16 if you have the funds.
However, you should inform your parents and get a crypto education that would enable you to invest wisely.
Can You Have A Crypto Wallet Under 18
Yes, most wallets don’t ask about your age.
You don’t even need verification to use them.
Examples of such wallets include;
Atomic wallet
Imtoken wallet
Trust wallet
How To Buy Crypto Under 18
If you want to purchase crypto under 18, you can use any of the following:
Changelly
changeNow
Bitforex
