Bybit is one of the top virtual currency exchanges in the world, so it has a large number of registered users. With such a background, there are many users with different nationalities and age groups. Under such circumstances, is it possible for those who wish to register to register even if they are unemployed or minors?
Registration of minors
Bybit has no age limit. In other words, both minors and elderly people can trade virtual currency. Therefore, even if you are a student, you can open a school without parental consent. The problem is getting the money in there. You must be at least 18 years old to make deposits on Bybit. The methods that can be used to deposit into Bybit include virtual currency and credit cards, but remember that in many cases, you must be 18 years or older to create a credit card. Other exchanges have age restrictions, which makes it easier for people to make deposits and withdrawals.
Registration of unemployed
In addition, Bybit has no restrictions on occupations. In other words, whether you are a housewife or unemployed, you can open an account and start trading immediately. Since there is no item to describe the annual income when opening an account, it will not be known to the Bybit management side.
No need to submit identification documents
Bybit has the advantage that you can start trading without verifying your identity after opening an account. When registering on a virtual currency exchange, basically it is necessary to submit identity verification documents when opening this account, but there is no such process at Bybit. However, please note that if you do not verify your identity, the withdrawal amount will be limited.
Account opening time
It takes about 5 to 10 minutes to open a Bybit account, and you can open it immediately at Seino. Furthermore, since you can open a free account, there is no risk. With Bybit, you can withdraw up to 2 BTC per day without verifying your identity. Therefore, you can start trading immediately. You can open an account from the following.
How Minors Trade Cryptocurrencies
As mentioned above, even unemployed people and housewives can start trading cryptocurrencies right away, but for minors, it is difficult to start trading right away due to restrictions on credit cards and other exchanges. Therefore, I will explain how minors can open an account and trade.
Account opening and deposit/withdrawal in the name of the parent
There is a way to open an account in your parent’s name. And deposits and withdrawals will not be refused if you use a credit card in your parent’s name. It is the child who actually trades, but if it is in the name of the parent, there is no problem.
You can also rely on older brothers, sisters, and other relatives at home as well. However, when you trade, make sure you do it with surplus funds. If you overinvest and lose money and struggle to make ends meet, you will end up with nothing. The principle of investing is to trade with your surplus money.
Tax if profit
There is a caveat. If it makes a profit on the trade, it has to pay tax to the tax office. Profit earned from virtual currency is recorded as “miscellaneous income”. Also, please never say no. Because there is absolutely no benefit for me.
General theory of virtual currency exchange
The general theory of virtual currency exchanges is that they do not go through the same rigorous screening process as opening a bank account or submitting documents to a government office. To put it simply, the true intention of virtual currency exchanges is that anyone can register and trade, which will benefit the exchange, so they don’t want to filter anything as much as possible. . Therefore, if you limit it strangely, it will be a disadvantageous result for the exchange.
not easy to win
It is not so easy to say investment, not limited to virtual currency. Experienced traders earning big sums of money every month started out as novice traders. However, after a few years of training since I was a beginner, I was able to earn a lot. If you are a beginner, you will definitely end up in trouble if you try to win all of a sudden, so it is better to fight for the long term.