Things to Know About Age Restrictions for Mining Cryptocurrencies

Source: usethebitcoin.com

Are you someone who likes to mine and is all about digital cryptos? Did you know that a lot of people believe and think that cryptocurrencies could replace regular currencies in the following 5-year period?

Cryptocurrency transactions are usually processed in a matter of minutes, they are safe and secure, often trusted and used by users all over the world, and well-loved thanks to their anonymous status.

However, are there age restrictions or any type of rules when it comes to mining cryptos? Can anyone do it? Keep on reading as we answer this and other questions for you down below.

Why do people mine cryptos in the first place?

Source: trendmicro.com

If you want to get those tokens you will have to mine. This action means that your computer has to perform an intensive series of mathematical problems and resolve them. The computer does this in a blockchain and on its own without you having to do a lot aside from monitoring the process.

Bitcoin has become the most popular crypto, and everyone understands that this is going to become the future of money sooner or later. Anyone who wants to stay on track and follow the rules/norms will want to make this transition and will move to the crypto wallet approach.

Is there an age restriction rule for mining?

Source: fool.com

There are technically no age restrictions for trading or mining in cryptocurrencies at the moment. Since cryptos are anonymous and impossible to track it can be hard to distinguish who’s behind the computer.

However, some sites such as Coinbase and Paypal require users to be at least 18 years old before using their sites or making transactions. The real truth is that anyone can mine despite his or her age, but transferring money on your preferred platform, chain or card can be tricky if you’re not of age.

More kids on the block-chain

Source: iotworldtoday.com

At the moment millennials have the biggest interest in cryptocurrency. However, more and more teens are starting to show interest in cryptos and the approach/technology itself. This is because younger generations are a lot more tech-savvy, constantly learning and showing interest in different aspects of the field.

Quite soon we will spot a lot of youngsters on these sites, watching podcasts and paying for advanced software or seminars to get the hang of things and understand what the process looks like.

Underage buying options that you can consider

Source: ig.com

Teenagers eager to buy bitcoin can choose among plenty of different options that will suit them based on their preference, wallet, and availability at the given moment. Here is a list of options that you can turn to:

  • A) eBay – you can find almost anything on eBay nowadays, including cryptos and bitcoin. It is perfect for those who want to act fast and get cryptos in a couple of clicks. You won’t have to prove your age or verify anything on the site. Browse the site and find something that is your favorite.
  • B) BTC ATM – if you are under-18 you will like this option the most. You can use cash with these ATMs to buy bitcoin and have it with you in the shortest time possible. BATMs are available and popular across the world, you won’t have an issue finding one yourself.
  • C) Localbitcoins – this is a popular site where basic verification is easily achievable and done in a couple of steps. On there you can also meet local sellers in person and buy bitcoin with cash. Be smart and cautious with this site, especially when making your first transaction. It will suit those who live in the US the best.
  • D) Local crypto groups – you can always browse on Facebook or Twitter and you’ll probably find crypto meetups in your area, especially if you live in a city where this is popular and upcoming. See if someone from your close friends & family list can contribute in any way and if they are willing to make this transaction.
  • E) Get help from your parents – you can always register on an exchange under one of your parent’s or siblings’ names. You will have to get their permission to do this step, however. You could e-transfer $300 to your sibling’s or parent’s account first. Then, use their card to buy the BTC on an exchange of your choice, such as Binance or Coinbase.
  • F) Gift cards on Paxful – have you tried Paxful before? You can give it a go and use any gift card that you have, such as an Amazon Gift Card, iTunes Gift Card, Google Play Gift Card, Steam Wallet Gift Card, etc. Simply trade the gift card for your desired amount of BTC. This will suit those who are constantly receiving and hoarding gift cards, just waiting for the perfect time to use them.
  • G) Mine Bitcoins – although it is not a direct solution to buying BTC, it is a step to make if you are in it for the long run. If you can and want you can buy your own hardware miner to mine the bitcoin at the comfort of your home. If you have the time, patience, and resources to embrace the process try giving it a go. It might take some time to master, but is the best long-term solution.

Want to start trading Bitcoin?

Source: ledgerinsights.com

If all of this sounds like a lot of fun and you’re eager to give it a go you can get more information on this topic right here. This software will help everyone begin the mining process while being a top-notch solution.

Crypto Genius doesn’t charge anything users for using the software. It is free for members as there are no hidden fees, brokerage commissions, or any other upsells. Enjoy their auto-trading app and invest only 20 minutes per day to set everything in order and start trading cryptocurrencies. Your trading experience isn’t important when using the software as it does everything for you. See for yourself and give it a go.