Hi. Just wanted to know if we can get on this crypto trading using Fidelity or do I need to create an account with someone else?
No, Fidelity does not offer crypto trading at the moment. This means that investors can not buy and sell Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH) through the company. Fidelity is still exploring the possibility of offering this service in the future.
For now, investors who are interested in cryptocurrencies can look elsewhere for a platform on which to trade these digital assets.
- Buy Bitcoin ETF such as GBTC. This is the simplest way for Fidelity investors to get exposure to cryptocurrency without buying the actual Bitcoin.
- Create an account with Coinbase for crypto trading. Then, connect it to your Fidelity so you can view all your stocks, ETFs, and crypto holdings all within the Fidelity dashboard.
I wish they did. I would’ve already bought Bitcoin on Fidelity if they offered it, but only if it comes with private keys to send and receive bitcoin. If you are new I recommend using Coinbase Pro to buy crypto because they provide secure wallets. Don’t use Robinhood or Webull! They will hold your crypto hostage! Also stay away from GBTC! Your profits will get eaten up by the 2% fees. You’re better off just buying and holding straight up bitcoin for free on Coinbase Pro.
I use Coinbase for crypto and was able to link my Coinbase account with my Fidelity account. Now I can see my entire investment portfolio balance of both my crypto and stock/IRA balances on my Fidelity homepage.
You will need a different account. Fidelity does not have crypto.
You can connect your Coinbase to your retail brokerage account and view your holdings through fidelity but currently it’s only available for institutional investors on the digital assets with fidelity to be able to trade.
GBTC isn’t worth it, 2% expense ratio (that isn’t clear on fidelity) and its now trading at a loss compared to the true price of BTC. you may be losing 10-15% compared to just owning BTC over a 12-24 month period (BTC up 724%; GBTC up only 636% over 52w).
I highly recommend Voyager. They’re a legit crypto brokerage firm. There is no buying fee and they pay you interest for simply holding your crypto there. The CEO is Steve Ehrlich, former CEO of E-Trader. This guy is a veteran in fintech so Voyager is in good hands.