I’m not 18 yet but really want to get into cryptocurrency. My plan was to find a wallet that doesn’t ask for ID verification and buy crypto through Bitcoin ATMs. But I’m confused about trading different coins. If I want to swap between tokens or buy altcoins, do I need to use an exchange? Can I do trades directly from my wallet? Are there any platforms that don’t check age requirements? I mainly want to use crypto for online purchases since many sites offer discounts for crypto payments, plus I think it’s good for long term investing.
wait hold up - what’s your plan for cashing out when you turn 18? I get the decentralized wallet thing, but how do you move to a real exchange later?
also curious about those online purchase discounts you mentioned - which sites? I’ve seen a few but the savings are usually tiny compared to crypto transaction fees. have you actually done the math on whether you’re saving money after fees?
are your parents cool with this or you going solo? depending where you live, there might be custodial account options that are way less sketchy than dodging age verification. some places let parents set up accounts for minors - could give you legit trading options
btw what’s your crypto security experience? if you’re new, starting with non-kyc wallets and atms puts you at higher risk for costly mistakes. have you practiced with small amounts first?
honestly, p2p trading is pretty good for that! localbitcoins is one option, but yeah, be careful with scams. try to meet in person if you can, and never send money first to someone you haven’t verified. some wallets allow trades too, but just be safe!
You can indeed swap tokens directly from your wallet using decentralized exchanges (DEX). Wallets like Trust Wallet and MetaMask allow you to trade without needing to engage with centralized exchanges, which often require ID verification. However, be cautious with fees as they can be higher on DEX compared to centralized options. Bitcoin ATMs can have significant markups, so that may not be the best choice for purchases. If you’re considering spending crypto, look into crypto debit cards which may have more lenient age restrictions. Just keep in mind the potential tax implications and overall risks involved.