Binance Junior is an application linked to an adult's account that allows minors aged 6 to 17 to learn about cryptocurrencies safely, under the supervision of their parents. Children can view their assets, make limited transfers (starting at 13 years old), and use savings features, but they cannot trade in the market. Parents oversee everything, set limits, and are notified of each transaction.
Functioning
Parental control: The application is a sub-account that belongs to an adult's main account, who sets the rules.
Deposit funds: The adult can transfer funds to the Junior account from their own Binance account.
Notifications: Parents receive alerts for each transaction made in the minor's account.
Limits and restrictions: Parents can set daily spending limits and control the functions the minor has access to.
What can be done
View balance: Minors can check their cryptocurrencies and their status in the account.
Limited transfers: Users aged 13 and older can send and receive cryptocurrencies to other Junior accounts or their parents' accounts, always respecting the daily limits set by the adult.
Savings features: They can access the 'Junior Flexible Simple Earn' feature to generate returns on their funds, according to local regulations.
Financial education: The platform encourages young people and their parents to talk about finances and digital assets responsibly.
What cannot be done
Trading: Minors are not allowed to trade in the cryptocurrency market, whether in spot, futures, or other options.
Transfers to third parties: Transfers to adults who are not parents are not allowed.
From what age
Minimum age: The application is designed for children and teenagers aged 6 to 17.
P2P transfers: Users aged 13 and older can make transfers within the app, but with daily transfer limits controlled by the adult.