I’m under 18 and want to get started with cryptocurrency. My main goals are to get discounts when shopping online (lots of sites give crypto discounts) and to start building something for my future.
My current plan was to use a non-KYC wallet and buy crypto through ATMs to avoid verification issues. But I’m confused about trading different tokens like meme coins. Can you swap coins directly in your wallet or do you always need to go through an exchange?
Also wondering if there are any trading platforms that don’t check age. I know most require you to be 18+ but maybe there are some alternatives.
Any advice on the best approach for someone in my situation would be really helpful. Thanks!
Obtaining cryptocurrency as a minor can certainly be challenging, but it’s not impossible. Your approach with non-KYC wallets and ATMs is valid, but keep in mind the high fees associated with those machines. When it comes to swapping tokens, many wallets offer built-in features that allow you to trade directly without needing a centralized exchange. MetaMask and Trust Wallet, for instance, support such transactions with decentralized exchanges. Additionally, peer-to-peer trading is another viable option, but be vigilant about potential scams. Lastly, remember that any crypto transactions could have tax implications, so engaging your parents in the discussion might be prudent.
Interesting situation! What sites give crypto discounts? That sounds cool and might be worth the fees.
Yeah, you can swap in-wallet but lee_books is right - fees are brutal. Have you checked the actual costs? ATM fees hit 10-20% which is insane, plus network fees go crazy when it’s busy.
Have you thought about asking a parent or older sibling to help? I know it’s not as independent but you’d save tons in fees. What’s your timeline - starting immediately or can you wait until 18?
Real talk about meme coins - that’s risky even for experienced traders. What draws you to them? The potential gains?
What country are you in? Regulations vary and might affect your options.
yep, alot of wallets like metamask or trust wallet let you swap coins without going to an exchange. but be careful, fees can be pretty high. ATMs are crazy expensive too, maybe get a fam member to help you out!