Minors are seriously getting into crypto market these days.
If you’re one of them, I presume you should be thinking of the best crypto wallet you can be using as an under 18.
As we continue, you should know that crypto wallets are apps, or devices specifically designed to store cryptographic assets like Bitcoin, Ethereum etc.
There are different types and kinds in the market, and choosing one that best suit can be difficult.
In this guide, you are going to learn how to set up a cryptocurrency wallet as a minor for keeping your funds safe.
How to open a crypto wallet under 18
First of all, you will have to decide on the kind of wallet you’re going to use based on your investment time-frame.
If you are planning to just do daily exchange of cryptocurrency, then you can use the exchange online wallet.
However, when you intend to keep your investment for a very long time, then the best strategy is to keep it safe using a hardware wallet.
To learn how you can make a cryptocurrency wallet for minors, you can read my guide on how to open a Bitcoin wallet.
Best crypto wallets for minors
In this list of crypto wallets for under 18 minors, they’re categorized based on their types.
Ledger wallets (Hardware)
Ledger are the best offline crypto wallets, because of their number of supported currencies, high security standards and mobile usage capabilities.
Ledger is one of the most well-known brands of hardware wallets available.
Its initial popularity sparked with its first wallet, the Ledger Nano S, a feature-packed and highly secure cold wallet.
The Ledger Nano X expands on the Nano S’ success by adding a built-in battery and Bluetooth connectivity with asset management capabilities.
The wallet is currently priced at $119.
This wallet supports over 1,800+ coins and tokens, and is able to manage all of them simultaneously through the apps.
Its Bluetooth connectivity may be turned off at any point, which enables it to be used with the Ledger Live app on Android, or iOS devices on the go.
To learn about this USB-like wallet, you should read a review wrote on Ledger Nano X and how it works.
|Supports a very large number of digital assets||Expensive than other cold wallets|
|Built with special hardware to protect your private keys||Bluetooth may be a privacy concern|
|Bluetooth allows transfers on the mobile Ledger Live mobile||No touchscreen feature|
|Built-in battery with 8 hours charge life|
Trust wallet (Software)
The Trust wallet mobile app enables you to exchange various cryptocurrencies securely without the need of third-parties.
It basically gives you a protected access key that safeguards your crypto assets from unauthorized access.
Trust Wallet is available for download on iOS and Android devices.
It also supports multi-coin transactions, allowing you to buy and exchange thousands of coins in different blockchain.
In this mobile wallet app, you can also buy coins with your credit card.
The code is completely open-source, so developers, security experts and anyone can tinker around the source code.
When creating a new account, you do not need any KYC (Know Your Customer) or AML (Anti-Money Laundry) verification.
Additionally, as a non-custodial wallet, it hardly stores user data.
It also enables users to keep their private keys on their devices, rather than on Trust wallet servers.
|Easy user interface||No desktop version or support|
|Zero charged on users||Zero documentation|
|Supports multiple cryptocurrency assets||No cash-out feature|
|Fully secured access||Limited access to Android and iOS only|
|Credit card exchange feature||Not as safe as a hard wallet|
|In-wallet staking and swapping||No way to restore your account if keys are lost|
|Decentralized apps (i.e. DApps) browser||DApp Browser not available on iOS|
|Access to private keys and seed words|
Binance wallet (Exchange)
Binance is a popular exchange that started in China, but later moved their headquarters to a crypto-friendly Island of Malta in the EU.
This cryptocurrency platform is popular for its crypto to crypto services.
Binance came onto the scene in 2017, and has since gone to join among the top crypto exchanges in the crypto world.
In this guide, am not going to review Binance exchange further. If you want to learn more, then read the full review.
What to look for in a crypto wallet
There are several key features that make up a good crypto wallet, so keep an eye out for the following when comparing your options:
- Control private keys: A wallet that allows you full access to own and control your private keys
- Developer community: Active development community for maintenance and updates
- Backup & security features: Seed-words backup and pin codes
- Ease of use: Elegant user-interface for fast and user-friendly assessment
- Good reviews: Seek out independent online reviews of any wallet you’re considering to learn about its pros and cons.
Frequently Asked Questions
Under 18 crypto wallet for minors
Conclusively, I believe you’ve learned how to open a crypto wallet under 18 for yourself for investing in any coin.
If you have enough money to invest in keeping your investment safe, I would suggest getting a cold storage wallet.
These kinds of wallet are the safest, when it comes to storing your funds in offline without the need for internet connection.
Though, using a mobile wallet app isn’t a good strategy, remember to always keep in a safe place the 12-24 seed-words and private keys.
Also activate pin or 2-FA authentication if possible.
Avoid leaving your invested funds on an exchange platform for long, as you’ll be risking loosing it all at an instance.
Finally, you should also consider using VPNs (i.e. Virtual Private Networks) to hide your transaction footprints online.