A lot of people taking buying and selling Bitcoin for granted, simply because a large portion of the community is well above the age of 18. But if the goal is to make Bitcoin more appealing to students, solutions have to be created allowing the purchase and sale of digital currency for underaged people as well. LocalBitcoins and other local trading features are a significant step in the right direction, but more competition is never a bad thing.
Under 18 And Want To Buy or Sell Bitcoin?
Traditional Bitcoin exchanges are not the answer to the problem, as nearly every platform will perform an identity check. Part of this verification procedure requires customers to be 18 years of age or older, which can be quite annoying for younger generations looking to venture into the world of Bitcoin. But luckily for all parties involved, there are alternative solutions to this problem.
One of the more obvious alternatives is to use a marketplace like LocalBitcoins. As this platform is not responsible for handling customers funds directly, they will connect buyers and sellers in an online fashion. There are no [official] age requirements to use this service, although users have to be aware of regulatory measures in the country to make sure they act according to the law.
Popular mobile Bitcoin wallet solution Mycelium offers a Local Trader feature, based on the user’s location. This provides an alternative way to buy and sell Bitcoin regardless of age, and does not require users to rely on LocalBitcoins alone. However, the same principles of acting according to the law apply in this area as well, as one never knows who is on the other end of the transaction.
When dealing with cash transactions in the Bitcoin world, security is of the utmost importance. Meeting face-to-face with people as an underaged teenager might raise some awkward questions in the long run. Most traders won’t make any bones about this situation though. Luckily, there is another option available which removes the need for person-to-person transactions, if one prefers to go that route.
The final option to buy or sell Bitcoin regardless of age is by visiting one of the many ATMs around the world. This solution might not be viable for everyone – depending on location – but these devices allow for quick and easy conversion to and from Bitcoin. Most of these machines have a limit until additional verification is needed, but that limit should satisfy the needs of most younger Bitcoin enthusiasts.
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