On-ramp under 18 YoA: Possible?

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Vest

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Oct 12, 2024
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Hi everybody -

Have been browsing this forum for quite a bit now and discovered a lot of new knowledge about asset protection, diversified investment portfolios, many uncommon business activities, as well as things aligned with my past experiences. I decided to register my account on the forum and try to get information for my situation, which is probably quite unique.

I'm currently still under 18 (luckily not forbidden to register an account here according to the Terms 😛). I am a citizen and resident of an EU country; I own a local company here through a somewhat basic structure that I set up to make things work despite my age. This year I will have paid out a bit over EUR 150,000 to myself from the company (of course I also need to feed the greedy state with about 25-30% of my income going to income taxes and social contributions). I want to take like EUR 50-75K and move that into crypto, not with any high-risk strategies or trading but as a long term holding mainly in $BTC with some $ETH & $TON.

The problem is that I cannot find a reliable on-ramp in this situation. I have several local bank accounts for myself + 2 EMI accounts - fiat is surprisingly easier on my side. Most of the generic CEXs simply do not accept clients in this case. I don't want to use some Anjouan 'licensed' company which will disappear next week or unregulated desks. As far as I know, there are not necessarily restrictions that would ban the exchanges from onboarding, so it's probably just the compliance teams not wanting to waste time with it?

So, is anybody aware of any exchanges that would be able to 'service' me, and preferably EU/Cayman/Bermuda/other trusted jurisdiction VASP, Swiss SRO-member, etc. and not some suspicious legal entities?

Thank you for the assistance!
 
JohnnyDoe said:
Hi, you are on the right path!
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Thanks, good to hear that from one of the most reputable 'crypto maximalists' here 🙂
JohnnyDoe said:
No reputable financial institution will service you at your age, and probably not until you are in your 20s and with a history of personal taxes.
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Really? Crypto exchanges won't accept you at 18 years of age either? For what reason? I could not believe that VASPs are more regulated than EU banks and Lithuanian EMIs.
JohnnyDoe said:
Better if you look at OTC and try to avoid banks as much as possible.
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Banks are the least of my problems, they honestly do not have any issues with my income. I had to prove SoF once but it was a really simple process of meeting with a bank manager and handing over a couple of papers.

I look on OTC but I have not so far found a reasonable thread for this topic - moving EUR SEPA or USD SWIFT to crypto in a safe and regulated manner at my age
 
Vest said:
Really? Crypto exchanges won't accept you at 18 years of age either? For what reason?
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Because you are under legal age and that is too risky for them. Anyway, did you try with Crypto.com, Wirex, SwissBorg?

Vest said:
Banks are the least of my problems,
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For now 😕
Vest said:
they honestly do not have any issues with my income. I had to prove SoF once but it was a really simple process of meeting with a bank manager and handing over a couple of papers.
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Is there a way you can manage your business natively with crypto?
Vest said:
I look on OTC but I have not so far found a reasonable thread for this topic - moving EUR SEPA or USD SWIFT to crypto in a safe and regulated manner at my age
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I mean Over The Counter - p2p etc.

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JohnnyDoe said:
Because you are under legal age and that is too risky for them. Anyway, did you try with Crypto.com, Wirex, SwissBorg?
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Yep, all 3 from 18 years old.
JohnnyDoe said:
For now 😕
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Well, I guess it doesn't make sense to try to solve a problem that doesn't exist yet. I have several accounts and I don't plan to stay in this socialist ****hole forever 🙂
JohnnyDoe said:
Is there a way you can manage your business natively with crypto?
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Unfortunately not, the clients are all dependent on making payments on fiat rails.
JohnnyDoe said:
I mean Over The Counter - p2p etc.
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P2P is a bit risky because the cryptos often come from 'unclean' sources and if I use P2P with licensed companies it will be the same problem again.

I think OTC might work but I am not sure about the requirements posed by OTC desks or how to find reliable ones in the country. Will try to do some research on this topic.
 
Vest said:
Yep, all 3 from 18 years old.
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😕
How far are you from 18?

Vest said:
Well, I guess it doesn't make sense to try to solve a problem that doesn't exist yet. I have several accounts and I don't plan to stay in this socialist ****hole forever 🙂
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Right, but even better is to avoid problems instead of trying to solve them 😉
Vest said:
Unfortunately not, the clients are all dependent on making payments on fiat rails.
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Do they pay you by wire or credit card?
Vest said:
P2P is a bit risky because the cryptos often come from 'unclean' sources and if I use P2P with licensed companies it will be the same problem again.

I think OTC might work but I am not sure about the requirements posed by OTC desks or how to find reliable ones in the country. Will try to do some research on this topic.
Click to expand...
You need reliable otc partners that don't have the same bs requirements of cex.

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No need for CEX. Bisq or localcoinswap or Hodlhodl for Fiat-->BTC.
then just use Dex's to swap from BTC to whatever.

Last edited: Oct 13, 2024
 
As owner of a crypto OTC desk, I tell you that no legit desk will serve persons under the age of 18.

I don't know which European country you reside in, but it is best to orient yourself to the local OTC P2P non-kyc traders in your country. You give them cash they give you crypto/BTC/USDT. This is the best option for you.
 
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