Complete Guide to the Top Apps to Buy Crypto Under 18 (2024)

Cryptocurrency has exploded in popularity over recent years, especially with tech-savvy youth. Apps to buy crypto under 18 provide an exciting first step towards investment, but barriers persist against direct exchange access or wallet ownership for those under 18. This guide covers compliant ways minors can start trading crypto including apps to buy crypto under 18.

Multiple platforms now offer custodial accounts enabling parents to approve and oversee crypto purchases by users under 18. These regulated services give access to leading blockchain assets through easy app registration. With guardian consent, minors can begin trading top cryptocurrencies using reputable apps to buy crypto under 18.

So, how under 18s can safely, legally buy and sell major cryptocurrencies? While limited, apps to buy crypto under 18 extend options for minors to gain crypto exposure. Depending on location and requirements, teens can obtain digital currencies either as gifts or by funding custodial brokerages approving how to trade crypto under 18.

How to Trade Crypto Under 18: Ways for Teens to Acquire Crypto Assets

While limited, there are options for minors to gain exposure to the crypto economy. Depending on location and platform requirements, teenagers can obtain digital currency either as gifts from older relatives or through their own funds via a custodial brokerage.

Using Custodial Accounts and Wallets

For teens looking to buy crypto assets using their own capital, regulated custodial services enable oversight by parents/guardians as required under compliant laws. By preserving guardian control of transactions until adulthood, these apps to buy crypto under 18 give minors entry to blockchain markets through a protected framework enabling step-by-step learning around how to trade crypto under 18.

Here are some well-known crypto platforms offering custodial setups for users under 18:

• Coinbase: One of the most popular mainstream exchanges opened youth accounts in 2019 through its Coinbase Custody Trust. With guardian approval, 13-17 year olds can trade up to $50K per day and choose between 30+ coins.
• FTX US: This US-based exchange features FTX US Custody for minors. It allows funded trading in 25 assets after submitting consent documentation.
• Gemini: Their custodial solution called Gemini Custody gives access to 33 coins. Minors can use it to build a portfolio under an adult co-signer’s oversight.

To activate these regulated youth accounts, parents/guardians must provide valid ID verification for both themselves and the child while consenting to monitoring.

Discover the best crypto to buy now, and explore this article for a list of the latest tokens listed on Binance.

Gifting As Another Option

Beyond direct purchases through a custodial app to buy crypto under 18, teens can also receive blockchain assets as gifts from older associates and family members. Apps to buy crypto under 18 make it simpler for privilege to transfer to next generations.

Bitcoin ATMs

Bitcoin ATMs function much like traditional cash ATMs, except they allow users to buy and sell cryptocurrency with cash. Some operators, like CoinFlip, let users as young as 13 submit identity verification to buy and sell BTC from the machines using a phone number.

Transaction minimums are usually around $20-40 and maximum purchase amounts per transaction range based on verification level (usually several hundred to a couple thousand dollars). Fees average 10-20% — much higher than exchanges but anonymous.

Decentralized Exchanges (DEXs)

Decentralized exchanges don’t require personal information to transact. Popular platforms like UniSwap or PancakeSwap let users swap crypto assets directly through smart contracts. Slippage can impact swap terms however.

Guardians would likely perform swaps on a non-custodial wallet and then gift assets. But with some crypto already owned, teens could technically use DEXs themselves with slightly more anonymity and no direct fiat purchases.

Peer-to-Peer (P2P) Trading

Websites link individual crypto buyers and sellers to trade assets for cash, gift cards, and other payment methods through P2P markets. LocalCryptos and some wallet apps have reputation systems. Traders arrange meetups or transfers. PayPal etc purchases involve risk, however.

Over-the-Counter (OTC) Desks

High net worth teens funded by family offices could hypothetically access OTC crypto trading desks that facilitate large volume purchases from institutional investors and miners. However minimal identity verification would prove difficult at under 18.

Ultimately, custodial accounts, gentle gifted crypto introductions and perhaps occasional Bitcoin ATM usage with guardian oversight remain the best practices for minor asset exposure rather than pursuing more pseudo-anonymous routes, given regulatory uncertainties. The priorities should focus on learning and accountability until reaching adulthood.

How to Buy Crypto Under 18: Step-by-Step Walkthrough

Ready to make that first crypto investment? It’s easier than many think once signed up for a compliant service. Simply follow these steps:

Choose a Platform

Select an exchange or hosted wallet allowing users under 18 like Coinbase Custody Trust or Gemini Custody. Ensure it supports wallet addresses to withdraw holdings into cold storage later. Apps with solid reputations around security and transaction fees are ideal picks.

Gather Documentation

Custodial services will need extensive paperwork exhibiting consent:

• Government ID confirming the adult and child’s ages
• Proof connecting parent to a minor through a birth certificate
• Address verification documents like bank statements
• Terms of Use Agreement contract

Complete Account Creation

Upload necessary documents when prompted after picking a username and strong password. Link a bank account in the adult’s name to transfer fiat currency.

Verify all details to activate the youth account and wallet custodian authorization features. Funds must be processed from the linked bank before buying crypto.

Enter First Investment

Navigate to the purchase interface and choose an asset like BTC or ETH. Enter the intended dollar amount, then confirm the buy order details and place it. Congrats on officially owning crypto as a youth! Consider setting recurring buys to accumulate over time.

Stick to reputable apps to buy crypto under 18 with rigorous protections since crypto lacks FDIC coverage against loss or theft. Custodianship adds hassle but lets those under 18 truly trade and learn with top blockchain projects.

Other Options for Gaining Crypto Exposure

Direct asset ownership represents the clearest path to trading benefits and learning. But a few alternatives also exist allowing minors indirect participation:

Crypto Mining

Validating blockchain transactions through computer hardware and advanced algorithms has become known as mining. Participants earn newly created coins and transaction fee payouts as rewards.

However, independent mining now requires expensive, specialized rigs to gain adequate profits. Teens can offset costs by joining a cloud mining pool such as Compass, Hashing24, or IQ Mining instead of setting up solo hardware. Pools are distributed among members proportionally through shared efforts.

The downsides are reliance on pool security measures, paying fees, price volatility and mining difficulty increases. Gaming PC GPUs still enable limited solo efforts too, though.

Crypto Lending

When holding long term, users might opt to generate yield on idle assets through crypto lending platforms like BlockFi, Celsius Network and Nexo. These CeFi providers pay interest for depositing certain coins under variable rate models.

The products probably don’t make sense for teens until they hold balances high enough to offset service fees. Parent permission would still be necessary as well – especially given recent liquidity issues shaking trust.

Crypto ETFs

A simpler method is gaining exposure by trading cryptocurrency-based exchange-traded funds (ETFs) instead of actual coins if investment accounts permit. Assets like BITO and BITQ hold baskets of assets or futures contracts valued based on crypto performance rather than direct ownership.

While more hands-off, staking and transaction benefits don’t apply. Still, crypto ETFs did see massive early interest from the stock trading crowd.

Minors have routes to participate in the developing digital asset class even facing age restrictions on exchanges. Custodial accounts let teens directly access coins. Mining pools, lending services or funds offer alternative cryptocurrency interactions to explore.

Crypto Gaming

Bitcoin gaming has emerged as an increasingly popular way for minors under 18 to earn cryptocurrency. Many online games and platforms now incorporate crypto earnings, allowing players to accumulate bitcoin or other digital currencies through gameplay, tournaments, and other in-game activities. This presents a unique opportunity for tech-savvy young people to get involved with crypto in a fun and engaging way while learning about blockchain technology.

One of the major benefits of bitcoin and crypto gaming for minors is that it provides a legal and accessible avenue to earn crypto without the restrictions and pitfalls associated with other methods like mining or trading on exchanges. Many games cater specifically to teen audiences and have low barriers to entry. With some dedication and skill, underage players can steadily grow their crypto holdings from the comfort of their homes simply by excelling at games they enjoy. As the crypto ecosystem continues to expand, proficiency gained through crypto gaming could translate into future educational and career opportunities.

Unlock Income Potential As A Teen Crypto Strategist

For ambitious teenagers who have developed their own profitable crypto trading strategies, groundbreaking new opportunities to monetize expertise now exist through platforms like Finestel.

Finestel’s Private Strategy Marketplace connects skilled traders with traders needing talent. Young strategists can distribute systems through partner platforms to access wider audiences eager for new techniques with higher return potential.

For details on our strategy marketplace, visit our “What is Finestel?” article or contact us directly.

Apps to Buy Crypto Under 18

In addition to the web-based custodial exchanges covered earlier, a few mobile applications also offer simple onboarding for minors to buy crypto with guardian approval.

Bitnob

This popular app caters specifically to under 18 users with custodial wallet features. After ID verification connecting teens to parents, youth can buy bitcoin or Ethereum using linked bank accounts or cards with daily purchase limits.

Asset Block

Offering loyalty and gaming rewards redeemable for crypto is Asset Block’s model for minor engagement. Teens earn and learn about coins through quizzes, tasks, profiles and referrals along with some funded buying in a custodial format with approval.

Piggybank

Piggybank brands itself as a way for minors to invest virtual allowance money into crypto or stocks. Parents set up supervised accounts that function like traditional custodial brokerages but with a mobile-centric design. Educational content also appeals to youth.

Convenient apps can provide nice alternatives to full-scale exchanges for introducing teens to digital assets, gambling compliance and giving parents transaction control until adulthood. Approval and activation friction still persists however, so gifts remain the easiest blockchain participation avenue.

While the mobile applications mentioned aim to provide secure introductory platforms tailored specifically to minors, we cannot guarantee safety or compliance assurances. All cryptocurrency transactions carry inherent risks – especially for those under 18. As with any recommendations, teens and guardians must independently verify regulatory alignment, privacy protections, and code audit results before downloading or activating any wallet or exchange app. We assume no liability for data or financial losses. Please exercise extreme caution and conduct thorough due diligence.

Understanding Tax Obligations Before Age 18

While custodial accounts do simplify documentation, teens still carry certain tax liabilities from crypto investing – even prior to adulthood. However, obligations remain fairly minimal.

According to CPAs, minors owe taxes once total annual income from all sources exceeds $2,300 – including capital gains from profitable trades. So gaining tax familiarity helps ensure compliance.

Fortunately, crypto held over one year qualifies for preferential long term capital gains rates. And the first $1,150 per year stays tax free. Losses can also offset gains to a degree. So moderate trading across Roth or custodial setups may avoid tax pains.

Automated accounting software also alleviates manual reporting headaches down the line. But documenting transactions remains an essential practice. Working early to organize custodial statements for eventual filings gives young traders a major advantage entering adulthood with crypto holdings.

Modeling Potential Growth Timelines

Teen traders wondering “when will my crypto be worth ‘X’ amount?” can tap realistic market projections to model key portfolio milestones. History shows certain adoption patterns and use case catalysts tending to precede rapid appreciation across assets.

For example, by referencing blockchain scalability upgrades launching 2025-2027 alongside increasing institutional investment, break-even predictions become clearer for long-term holds like Bitcoin and Ethereum. Metrics can also quantify expected contribution of annual interest yields.

Online calculators even forecast compound returns with regular purchase schedules. They illustrate the considerable gains from something basic like $100 monthly BTC buys over 5+ years.

Of course no tools offer guarantees – solely educated guesses grounded in historical data. Yet projecting possibilities based on real metrics still empowers strategy. For patient young investors, savvy modeling hints at eventual outcomes from sticking with proven crypto assets amidst volatility.

Conclusion

In closing, cryptocurrency presents remarkable potential as an emerging alternative asset class for tech-savvy youth investors who research diligently and embrace prudent strategies under adult supervision. While regulatory barriers persist, this guide outlines several compliant methods for teenagers to gain firsthand crypto exposure – whether through custodial accounts, gentle gifting, or reputable mobile platforms.

By prioritizing education around security precautions, crypto market psychology, and long-term holdings, young traders position themselves for outsized returns in adulthood. Yet patience and vigilance remain essential virtues when dealing with inherently volatile digital assets. Through responsible participation, the next generation can fund exciting futures while accelerating mainstream adoption.