Binance Junior is an educational platform aimed at young investors and those who want to learn more about cryptocurrency and blockchain technology. It is part of Binance's initiatives, one of the largest cryptocurrency exchanges in the world.
Key features of Binance Junior:
1. Education: Provides educational resources on cryptocurrencies, trading, and blockchain.
2. Security: Emphasizes the importance of security in cryptocurrency trading.
3. Accessibility: Designed to simplify access to information for young users.
4. Community: Encourage interaction among young investors through events and forums.
What is a Binance Junior account?
The Binance Junior account is a secure and family-centered way for parents to introduce their children to crypto. The account is opened as a sub-account of a parent's main account. The child's name will be added to identify the sub-account, but the parent remains the legal owner of the Binance Junior account.
Who is Binance Junior for?
Young users aged 6 to 17 years (or older depending on local laws) can use a Binance Junior account under parental supervision.
The parent of the young user must be an existing Binance user who has completed their KYC and enabled two-factor authentication (2FA). They can then create a Binance Junior account by providing the necessary information.
What features are enabled on the Binance Junior account?
The Binance Junior account allows young users to earn crypto on the account via Junior Flexible Simple Earn (in jurisdictions where this feature is available), thereby promoting early financial learning and saving for children. Parents can transfer funds directly to the Binance Junior account via the parent's main account or make a deposit through on-chain transfers.
Users aged 13 years (or older depending on location) will also be allowed to use the Binance Pay feature to transact with other Binance Junior accounts and their parental account, with daily limits applied. On-chain withdrawals, transactions, and payments from Binance Junior accounts to non-parent adult users or merchants are restricted.
What do you need to open a crypto account for children?
1. First, a parent must access the Binance Junior program via the main app. More specifically, the Binance Junior program is found under 'More' on the homepage and under 'Gifts and Campaigns.'
2. Next, the Junior account user must download the Binance Junior app.
3. The Binance Junior app can be downloaded here.
4. Finally, the user must follow the family-friendly registration guide on the Binance Junior app and scan the QR code on the parent's app to activate the Binance Junior account.
How many Binance Junior accounts can a single user open?
Each Parent account can create up to 5 Binance Junior accounts.
What are the transaction limits applied to Binance Junior accounts?
Binance Junior accounts can only transact with other Junior accounts and their associated Parent account. Additionally, there is a daily payment (sending) limit of 400 USD for transfers to other Junior accounts. On-chain transactions and withdrawals are not allowed on Binance Junior accounts.
