As in any other investment, the investor in cryptocurrencies must have the qualities that make him qualified to make the right decisions, as well as be patient and bear the great psychological pressure as a result of entering into high-risk deals.
Therefore, in my opinion, this is not wise, yes, children and the elderly should not invest in cryptocurrencies because they carry a high risk, children are not able to make correct decisions regarding these large fluctuations, and the elderly can also be exposed to great psychological pressure that harms their health as a result of their loss sometimes .
Define "children" though? Are you talking about someone who is 7 years old, or 17 years old? If you are fine with people buying when they are teenagers, like they are in high school even if they are on their first year, then I agree with you, anyone in high school should be capable of investing and should learn investing one way or another plus they have a lot of time to wait, they are very young and they have decades to invest and should be fine.
However, if we are talking about even younger, I agree that it would require parental supervision to do anything, and how much could they even have? Anytime anyone is old enough to work, they are old enough to invest, and should invest for their future.