Are you a teen looking to venture into Cryptocurrency trading? It is a type of market where you can buy or sell digital assets called cryptocurrencies. Also, it entails swapping cryptocurrencies with other traders and, of course, changing fiat money into the digital coins. All this trade happens online on a platform referred to as an exchange. Once you purchase the Cryptocurrency, you hold on to them with a keen eye for changes in pricing. When the time is right, you can then proceed to sell your Cryptocurrencies at a higher price and make profits. Most exchanges reserve Cryptocurrency trading for 18- year olds and above, which most likely locks you out by default.
As early as 13 years of age, you could already be well aware of the prospect of earning big from Cryptocurrency trading. However, many hurdles are going to hold you back from regulations to pessimistic parents or even financial educators. When you try registering on one of the exchanges, the chances are high that you are going to come short. You have to verify your identity with your date of birth, among other documents such as your driving license before you are accepted. As you might have guessed, these exchanges will not let you in unless you are 18 years and above. You can choose to wait until you turn 18 years of age if you are patient enough, and it is okay. If the possibilities of making fortunes have piqued your interest, the opportunity is still within reach.
The first challenge is going to be how to acquire the digital assets. Do not even think of faking your way into an exchange for whatever reason. It could get you in trouble, and you do not want trouble with your finances this early in life. The best way to go about is letting trustable adults say your parent, purchase then on your behalf. They can then act as a hold- up until you turn 18 years old after which they transfer the coins to your legal account.
If that is not probably what you are looking for, you might consider other options, such as online shopping sites. Despite costing more, you can buy Cryptocurrency from places such as eBay. Several different other options could enable you buy these digital assets as well. Most of them involve meeting a seller online, after which you meet up physically, and then they transfer the assets to you. As a minor, you do not want to avail yourself to places alone, and you should seek another person’s company.
Accessing the Cryptocurrencies is just one foot out the door, and making the most of them is another challenge altogether. You could have the right skill set to make profits, but that is more unlikely. A lot of guidance would come in handy, especially if you are just getting started. The chances are high that you do not have a lot of cash to invest, therefore, begin with the little at your disposal. Besides, you do not want to suffer huge losses and should fancy diversifying your investment at this stage. You should also keep up with the local news to learn of the new developments in the market. If you can stick to this game plan, the sky is the limit; stop dreaming and start investing today.