Fidelity Investments crypto trading account. How to buy or sell Fidelity crypto currencies mutual fund, blockchain fund, ETF, BAT, NEO, Ripple, Stellar, Cardano, Dogecoin, Ethereum (ETH), and Litecoin (LTC) alt coins.
How to Trade Crypto Currency at Fidelity
Bitcoin and other cryptocurrencies are becoming attractive assets to invest in, thanks to the volatility, institutional acceptance, and general bullish sentiment that comes with them.
Traders large and small are developing lucrative investment strategies with blockchain-related products and it would make sense that one of the United State’s most influential brokerages would offer cryptocurrency products to their customers. In the case of Fidelity, however, it is not exactly an easy task to take part in the digital asset marketplace.
If you want to trade cryptocurrencies like Bitcoin, Ethereum, Cardano, and Ripple at Fidelity, there are some important things that you should be aware of. Here are some details to get you started.
Cryptocurrency Trading at Fidelity
For retail investors looking to trade cryptocurrencies at Fidelity, the first thing to note is that the brokerage house does not offer direct access to the crypto markets. That means it is not possible to trade in Bitcoin, Ethereum, Dogecoin, or any other cryptocurrencies on any of the available trading platforms offered by Fidelity.
It is possible for US-based Fidelity customers to link their Coinbase account with Fidelity to view positions and digital asset holdings. However, even after linking to a Coinbase account, trading cryptocurrencies directly is still not allowed.
Cryptocurrency Stocks and ETFs
The lack of access to the crypto markets does not mean that Fidelity customers are out of luck. In fact, there are numerous points of entry that exist, but the available options operate during normal trading hours and follow the same regulatory restrictions as traditional stocks, options and ETFs do.
One of the easiest places to look for exposure to Bitcoin and other cryptocurrencies is through companies that either invest heavily in digital assets, accept cryptocurrency payments, or involve themselves with crypto mining.
These types of companies are often seen as proxies to the greater cryptocurrency markets and can move in tandem to digital assets. Some popular examples of tickers that are connected to the world of crypto include COIN, MARA, RIOT, SQ, PYPL, TSLA, NVDA, & AMD.
ETFs are also simple ways to get into crypto markets without actually purchasing digital assets. There are many blockchain ETFs and Indices available on Fidelity and they track the price movements of crypto very closely.
Fidelity’s own Bitcoin ETF, Wise Origin Bitcoin Trust, is not available to retail traders, but investors still have access to crypto-backed ETF listed on the NYSE and others.
The most popular ETFs for crypto are Grayscale’s offerings. There is GBTC (Bitcoin ETF), ETHE (Ethereum ETF), ETCG (Ethereum Classic ETF), GDLC (Digital Largecap ETF), LTCN (Litecoin ETF), and BCHG (Bitcoin Cash ETF). Another good option to explore is BLOK (Amplify Tranformational Data Sharing ETF).
One thing to keep in mind when trading cryptocurrency ETFs is that many of them are sold as pink sheets, so the same rules apply.
Although CME created futures contracts for the most popular cryptocurrencies, namely /BTC, /MBTC and /ETH, it should be noted that Fidelity does not offer these products to retail investors.
Webull as an Alternative for Cryptocurrency Trading
For many investors, crypto proxies are not quite enough. ETFs and stocks do not offer the same trading hours or volatility as the cryptocurrencies themselves, and do not provide the same level of opportunity.
Webull is a good option for anyone looking to trade cryptocurrencies for free on a regulated and insured stockbroker.
Advantages of Crypto Trading on Webull
Webull has several trading platforms to fit the diverse needs of its traders. Whether Webull users wish to trade crypto directly from the mobile app, from a web browser, or from the dedicated desktop trading platform, it is all possible.
The charting and order entry available are on a professional level and there are many technical indicators built in to give traders an edge in the fast-moving markets.
Available Digital Assets on Webull include:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Stella Lumens (XLM)
- Dash (DASH)
- Zcash (ZEC)
Cryptocurrencies vs. Blockchain
Another important distinction between trading cryptocurrencies and related products is that traders are able to access the pure price action of the specific cryptocurrency that they are interested in. At Webull, there are no maker/taker fees either, so trades are fast, low cost, and direct.
When trading ETFs and stocks, investors are faced with premium differences (as is the case with Grayscale products) or a broad relationship that is mixed with other variables, such as earnings and the overall stock market performance.
Add in the fact that crypto trading occurs 24/7, 365 days a year and you can see why so many stock market investors choose Webull to get involved with Bitcoin and other popular digital assets.
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