As the world around you rushes into crypto, you’re probably feeling left behind. Search after search keeps telling you that no, you can’t open a wallet if you’re under 18. That’s because until this point, there wasn’t a single cryptocurrency exchange that allowed under-18 investors onto their platform in the U.S. Until we came along.
Stack is the first — and only — cryptocurrency platform built for investors under the age of 18. Our platform is designed specifically for custodial crypto, because we think everyone, regardless of age, should be able to participate in digital currency. Welcome to the crypto party, friends.
But what is a custodial crypto account? And what’s it like to have a crypto account when you’re under 18 with Stack?
Careful: opening an account in your parents name is illegal
We know the current lack of age inclusivity from other crypto platforms may make it tempting for you to skirt the limitations, open an account in your parent’s name, and start investing in crypto now. But hold up.
Opening a crypto account and trading under your parent’s name is illegal. In fact, it’s also illegal for a minor to open a bank account, stock account, or acquire any other type of financial asset in their parent’s name. So, how are you supposed to set yourself up for financial success?! That’s where custodial accounts come into play.
What is a custodial financial account?
A custodial account is one that is opened in a minor’s name, but managed by a parent or guardian until the minor turns 18 or 21 (depending on which state you’re in). It’s probably how you got your first debit card or opened your first savings account at the bank.
It’s also how we’re able to welcome under-18 investors onto our cryptocurrency platform.
How does a custodial account work at Stack?
To invest in crypto under the age of 18 with Stack, you’ll need parent approval. Sorry, we don’t make the rules! It’s not so bad, though.
You and your parents will each have your own account and login information on the Stack app. Your parents can do things like set up automatic deposits, approve or deny transactions, and monitor investment and trading activities.
Your account is much sicker. You’ll see the Stack social feed, our rewards program, and so much more that we’ll reveal when our app goes live in early 2022. For now, you’ll just have to trust us that this thing is built for you and it’s going to be epic.
So epic, you’ll forget all about the custodial part
With Stack, you’ll be sending it to the moon. You won’t need to worry about the whole custodial account thing; instead, you’ll be immersed in trading, learning, and building wealth.
Sound good? Sign up for the Stack waitlist to be the first of your friends to get access to the only crypto platform for under-18 investors.