How To Invest In Crypto Under 18 in 2023

Crypto For Teenagers

If you are under 18, you may wonder whether purchasing crypto is legal or illegal. In most countries, there is no specific law that makes buying cryptocurrency while under the age of 18 illegal. However, many of the best cryptocurrency exchanges have rules that say no one under 18 can sign up and trade Bitcoin and other cryptos.

This article will tell you how to open a crypto account for minors and about the best crypto exchanges where those under 18s can buy crypto. In addition to the risks of investing in crypto and alternate investments,

Key Points

  • Crypto is a digital asset that keeps track of transactions using blockchain technology.
  • You can obtain cryptocurrency by mining or buying it on a crypto exchange.
  • While teens typically cannot open their crypto trading accounts, they can acquire cryptos through other means or have a parent invest on their behalf.
  • Some crypto exchanges do not require ID, so you can buy cryptocurrency if you are under the age of 18. Consider the options on our list below to see if any suit your needs.
  • Investing in crypto assets carries some risks due to their volatility, uncertain nature, and regulatory uncertainty.

What is Cryptocurrency? Simple Explanation for Teens

cryptocurrency is a digital currency used to buy and trade goods and services and invest. Like any currency, cryptocurrencies fluctuate in value. Investing in cryptocurrency works similarly to investing in other securities, like stocks or bonds. The majority of cryptocurrency transactions take place on centralized crypto exchanges.

To buy cryptocurrencies, you’ll need a cryptocurrency wallet. A crypto wallet is a place where you can store and use your cryptos. To make crypto transactions, you will need your wallet.

What is a Bitcoin (BTC)?

Satoshi Nakamoto created Bitcoin as a cryptocurrency in 2009. Bitcoin was created to provide lower transaction fees without the constraints imposed by a centralized authority (such as a bank). However, unlike other forms of currency, Bitcoins do not exist in physical form. Balances are stored in the Bitcoin blockchain’s public ledger.

Since 2009, it has seen a massive surge of other cryptos, now known as altcoins. Nonetheless, it remains the most successful and valuable cryptocurrency in the world.

Can Teens Invest in Cryptocurrency?

Teens can invest in cryptos at any age since there’s no legal minimum age. However, most popular crypto exchanges prohibit under-18s from trading. However, there are other ways for teenagers to get involved, such as buying peer-to-peer or through a decentralized exchange that does not require KYC.

Parents can also open custodial accounts for their teens to buy cryptocurrency. But few providers offer custodial accounts to invest in crypto.

Alternatively, a minor may acquire cryptocurrency from sources other than a central exchange. The teen may use a crypto-earning app. Some adults buy and hold cryptos to sell and give their children fiat when they grow up. This method may, however, have tax implications.

How to Open a Crypto Account for Minors in 2023

Once you know how the account works and what investments you want to make, it’s easy to open one for a child. Follow the steps outlined below.

Step 1.Choose the Type of Account for your Crypto Investments

Choose from the investment account types listed below.

Custodial accounts

Custodial accounts are becoming more and more open to cryptocurrencies. These accounts can hold Bitcoin, Ethereum, and other major cryptos. Adults manage custodial accounts, but the beneficiaries own the assets and take over them when they turn 18.

Open an EarlyBird custodial account 

EarlyBird - How To Invest In Crypto Under 18

EarlyBird‘s goal is to serve as a child’s first investment account. This Uniform Gifts to Minors Act (UGMA) account allows parents or guardians to invest quickly for a minor.

You get an Ethereum and Bitcoin crypto wallet through a partnership with Gemini, one of the world’s largest crypto exchanges. After 18, the account becomes an adult brokerage account that the child can use. The money in the account can stay invested or be used as needed.

Open an EarlyBird Custodial Account

Joint brokerage accounts

A parent and child can jointly open a brokerage account. If you want to invest in cryptocurrency, ensure the account supports the coin(s) you and your child are interested in. Joint owners may benefit from a multi-signature cryptocurrency wallet. These wallets require two or more private keys to sign and send transactions.

Other accounts

There are also a variety of accounts and apps available that allow your child to buy, sell, and even earn cryptos. For example, Step.

Invest With Step in a cryptocurrency 

Step - How To Invest In Crypto Under 18

The free Step Visa Card, a “hybrid” secured credit card for kids and teens, is unique. It’s safe like a debit card but works like a Visa credit card, including building your child’s credit history. When your child turns 18, Step will report two years of transactions, payment history, and more to the credit agencies.

Step’s “invest” function lets kids over 13 buy and sell Bitcoin for a small fee. When they sign up for Hulu and CVS offers, they can earn Bitcoin or cash. However, the app is not a pure crypto wallet—your children cannot currently spend Bitcoin directly at vendors.

Start with Step now!

Step 2.Always Review the Features

Costs – Costs vary by the financial institution. When buying or selling a security, check opening fees, monthly fees, and transaction prices. A low-fee account will help you increase profits.

Investment selection – Check that the account’s investment options include your child’s favorite crypto. Most crypto investment accounts offer Bitcoin, but other coins vary by provider. Depending on the account, stock, ETFs, and mutual funds may be available.

Security – Hot cryptocurrency wallets are internet-connected desktop, mobile, or web. Hot wallets are easy to use but less secure than cold wallets—hardware like a USB stick that’s not connected to the internet. Hacking is nearly impossible with a crypto hardware wallet.

Crypto exchange being used – A cryptocurrency account should specify which cryptocurrency exchange is being used. Use a registered, trusted exchange.

Remember: The Federal Deposit Insurance Corporation (FDIC) does not insure crypto companies. Be cautious if an exchange claims to be FDIC-insured.

Step 3.Then Submit an Application

You’ll need the child’s date of birth and Social Security number to start. You’ll also need to provide your details.

Step 4.Now Fund the Account

You must fund your account with fiat currencies like dollars or euros. Gifts to the minor from family and friends can be added to the account. That money can buy your preferred cryptos for you and your child.

The Top Places to Buy Crypto for Under 18

  1. Bybit – Best exchange to buy crypto under 18
  2. KuCoin – Best to Buy a vast range of coins
  3. PrimeXBT – Best for CFD trading
  4. Bisq – Best decentralized Bitcoin exchange
  5. MEXC – Best to buy crypto for those under 18 in the USA

Best Crypto Exchanges to Buy Crypto Under 18 Reviewed

We found the best crypto exchanges for under-18s that don’t require ID. Read through our list and decide if any of them are right for you. You can also read the reviews for more information.

1. Bybit – Top exchange to buy crypto under 18

bybit - How To Invest In Crypto Under 18

Bybit is the best crypto exchange for under-18s. Over 10 million users and $10 billion in daily trading volume make it a global platform.

Using a credit/debit card, bank transfer, or Google Pay/Apple Pay, you can buy crypto easily. BTC, ETH, and USDT are popular coins you can buy with fiat currency. If you want to access Bybit’s 280+ coins, buy USDT and trade it for the coin you wish to.

The platform blocks US IP addresses, so US users can’t access Bybit. Bybit does not require ID verification, so it is possible to trick the exchange by changing your location to another accepted nation.


  • Massive cryptocurrency exchange founded in 2018, with over 10 million users.
  • Purchase crypto with a credit/debit card, Google Pay, Apple Pay, or bank transfer.
  • Trading fees are relatively low.
  • Live chat is available 24 hours a day.
  • You can buy cryptocurrency even if you are under the age of 18.


  • Not accessible in the USA without a VPN.

2. KuCoin – Buy a vast range of coins

KuCoin - How To Invest In Crypto Under 18

KuCoin is the best cryptocurrency exchange if you’re under 18 and want to invest in various crypto assets. It has over 700 coins to trade, so you’re likely to find a crypto asset you’d like to invest in.

You can easily buy crypto with fiat currency on KuCoin, and numerous payment options are available, including credit/debit cards, prepaid cards, Apple Pay, and many more local options. It is also great if you want to use a trading bot to profit from the volatility of cryptos while you sleep. The exchange has its FREE trading bots built in.


Buy crypto with fiat using a variety of payment methods.

There are over 700 coins.

Trading fees are as low as 0.1%.

The exchange includes free trading bots.

Supported crypto lending, crypto borrowing, and staking.


  • No live chat is supported.

3. PrimeXBT – Best for CFD trading

PrimeXBT - How To Invest In Crypto Under 18

You might want to look at other options besides buying crypto directly. PrimeXBT lets you buy CFDs (contracts for difference). It means you’re buying contracts that will make you money based on the crypto’s price instead of buying the coins themselves. If you think the market is dropping, you can bet on the price falling.

You can also buy CFDs for forex, indices, commodities, and cryptocurrency. PrimeXBT’s Covesting tool (copy trading) makes this easy if you’re interested but unsure of your trading skills. You can quickly profit from the market by imitating what experienced traders do.


  • Invest in over 40 coins, 50 forex pairs, 11 stock indices, and 5 commodities.
  • Copy trading allows you to replicate the trades of successful investors.
  • CFD trading allows you to bet on whether prices will rise or fall.
  • There is live chat support available.


  • You do not actually own the crypto.
  • Margin trading is risky.

4.Bisq – Best decentralized Bitcoin exchange

Bisq - How To Invest In Crypto Under 18

Bisq is a good crypto exchange for minors. You can anonymously buy Bitcoin on this decentralized exchange. It is highly secure, as no crypto or fiat funds are stored on the server.

Over 15 payment methods are available, but you can only buy Bitcoin directly with fiat. Bisq’s other 125+ coins can be accessed by buying BTC and trading it for the coin of your choice.

However, because it is a decentralized platform, Bisq may be a suitable exchange for you if you are tech-savvy.


  • Decentralized Bitcoin exchange.
  • Transact anonymously.
  • Secure, with no crypto or fiat funds on the server.
  • Supports 125+ cryptocurrencies.
  • Accepts 15+ payment methods.


  • Not suitable for beginners.

5.MEXC – Best to buy crypto for under 18  in USMEXC - How To Invest In Crypto Under 18he USA


MEXC is the best place to buy cryptocurrency if you live in the United States. You can purchase cryptocurrency using a credit card, debit card, Apple Pay, or Google Pay. You can also trade a massive range of 1,520+ coins, which is unrivaled anywhere else.

For those who want to do more than buy cryptocurrency, for example, if you want to trade to increase your profits, MEXC’s Copy Trading feature is a great place to start. You can learn how to make profitable trades without monitoring the markets.


  • 1,520+ coins, 2,114 trading pairs.
  • Buy crypto with debit/credit cards, Google Pay, and Apple Pay.
  • Low-cost Spot trading and futures.
  • Copy Trading allows you to learn from the best investors.


  • Few cryptos are available for fiat purchase.

Risks of Investing in Cryptocurrency

Price Volatility

Cryptocurrency price volatility is a significant risk. Cryptocurrencies have larger price swings than other investments.

For instance, bitcoin. Bitcoin lost more than 74%, or two-thirds, of its value between November 2021 and June 2022, with price highs of $68,000 and lows of $18,000. The asset fell from nearly $40,000 to under $18,000 in just 90 days, from April to July 2022.

Uncertain Regulatory

Cryptocurrencies aren’t regulated like other financial assets. The Securities and Exchange Commission (SEC) regards bitcoin as a commodity. So, it doesn’t have direct control over bitcoin investments. However, it does have control over investment products like funds and ETFs that invest in bitcoin.

Second, while bitcoin is classified as a commodity, not all cryptos are in the same category. Cryptocurrency exchanges are unregulated, just like cryptocurrencies.

Highly Speculative

Another risk associated with cryptocurrency is its high level of speculation. Cryptocurrency prices, like stocks, are determined by demand and supply. But investors’ opinions of a company’s financial performance often play a role in whether the stock price goes up or down.

However, price fluctuations may appear more irregular in the case of cryptocurrencies.

Risk of Fraud

Every financial market has fraud and scams, but cryptocurrency is especially vulnerable. Lack of regulation increases the risk of fraud. Watch out for fraud red flags if you want to invest in cryptocurrency.

Lack of Insurance

The Securities Investment Protection Corporation (SIPC) safeguards brokerage account funds. The SIPC compensates investors if the broker goes bankrupt or out of business.

Cryptocurrency investments are not SIPC- or FDIC-insured. You can’t recover your losses if your assets disappear from your trading account or the crypto exchange that holds them goes out of business.

Alternative Investments To Consider For teens

Cryptocurrency can be an exciting way to invest, but teens and their families have many other options. Consider stocks, bonds, or cash to save for a teen’s future.

Stocks—also known as equities—let investors own a share of a company. A total stock market index fund is one of many ways to invest in stocks. Bonds are debt securities. Bonds are popular because they pay interest, unlike stocks, which profit from capital growth. You can invest bond interest in other assets to grow your portfolio.

Other options for families to invest on behalf of their teenagers include 529 college savings planscustodial brokerage accounts, and custodial Roth IRAs.


Can you buy cryptocurrency if you are under 18?

There are no laws that prohibit purchasing cryptocurrency if you are under the age of 18, but many exchanges will have restrictions. Some crypto platforms do not require ID verification, so you can buy crypto if you are under the age of 18. Look through our list above to find a suitable exchange. Bybit is an excellent option for purchasing cryptocurrency. As Bybit is unavailable in the US, we recommend MEXC as the next best option.

How much money should teens invest in crypto?

Your savings may answer this question if you have little money to invest. However, if you want to get started in the crypto world, you can buy a tiny fraction of Bitcoin or Ethereum for $300–$500 if you have it.

Can you have a custodial account for crypto?

Yes, you can have a crypto custodial account. The beneficiary is legally the owner of the assets in the account. Before applying, ensure that it supports the digital assets that the child wishes to possess.

How do I get a crypto wallet under 18?

Decentralized soft wallets that do not require KYC, such as Metamask, Trust Wallet, and Atomic Wallet, can be used. You can also buy a hardware wallet, such as a Trezor or a Ledger.

Can I use Binance under 18?

Users under the age of 18 cannot register with Binance. Binance will not allow you to use their services if you are under 18. Read our list above to learn how to buy cryptocurrency on an exchange.

Can I use Coinbase under 18?

On July 25, 2017, Coinbase changed its rules and implemented a new policy requiring users to be 18. If you are under 18, look through the exchanges listed above to find one that is appropriate for you.

Can I use under 18?

To buy crypto, they require you to be at least 18 years old, whether you want to buy Bitcoin (BTC), Ethereum, Dogecoin, Ether, Litecoin, or another type of digital currency.

Final Takeaway

Now you know how to invest in crypto under 18, as some crypto exchanges do not require KYC verification, so you can easily buy crypto. However, you should consider the risks of purchasing crypto, as it is a highly volatile asset. Moreover, the best crypto app depends on your device skills; different crypto apps for portfolio tracking, wallets, crypto-coin exchanges, and more are recommended.

Lastly, you should consult your parents before investing. Do your research and never risk more than you can afford to lose. Also, keep in mind that the info on this site is purely informative and is not intended to provide financial advice.

Read more: Best Crypto Under a Penny to invest

How to Dollar Cost Average Crypto 

How to Keep your Crypto Safe in 2023?

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