Trading Cryptocurrencies at Fidelity
If you want to trade digital coins, Fidelity Investments a few options. The broker supports both
indirect and direct ways to trade them. Continue reading for details.
Getting Ready for Crypto at Fidelity
Fidelity customers can buy Litecoin, Bitcoin, and Ethereum. No other coins can be traded, and it’s
important to remember that a separate crypto account is required to trade digital currencies.
To open a crypto account, you also need a Fidelity brokerage account. You can open both accounts
online in just a few minutes.
Fidelity also has crypto ETFs that can be traded in a normal brokerage account, so you won’t need a crypto account.
Trading Coins at Fidelity
A helpful way to begin trading crypto at Fidelity is to use the broker’s mobile app. Log in on your phone
and tap the Discover icon at the bottom-right corner. On the Discover page, scroll to the Collections area and tap the Crypto button to open the crypto hub.
The crypto hub has a watchlist of two digital currencies: Bitcoin and Ethereum, plus news about
cryptocurrencies. Litecoin is also supported: search for LTC/USD to see it.
The Fidelity mobile app’s crypto pages show a simple chart with up to a year of price data. Extra chart tools for cryptos aren’t available.
Below the chart, Fidelity provides details like market cap, 24-hour volume, and bid-ask spreads. A buy button opens a trade screen with market and limit orders.
Besides the phone app, Fidelity’s website also supports crypto trades. Active Trader Pro,
the desktop platform, does not include this feature.
Researching Crypto ETFs at Fidelity
If three coins is not enough, Fidelity provides a large selection of crypto ETFs, which can be
shorted—something you can not do with coins directly.
To find cryptocurrencies ETFs on Fidelity’s website, under the News & Research tab open the fund screener,
and select Alternative as the asset class. Some results might be non-crypto, but most are. One example is WisdomTree Bitcoin Fund (BTCW).
On Fidelity’s page for BTCW, you’ll see a 0.25% total expense ratio offset by a fee waiver, which
leaves a net cost of zero. The only holding is Bitcoin, worth about $411 million, so it’s
relatively small.
How to Buy Bitcoin on Fidelity
You can trade crypto ETFs on Fidelity’s desktop platform, website, or smartphone app. All three
provide watchlists to keep track of ETFs.
A crypto ETF trades like other ETFs and a variety of order types can be used, such as conditional, trailing, OTOCO, and OCO.
Pricing Schedule
Fidelity doesn’t charge commissions for trading ETFs or cryptocurrencies. Both do have spreads
as the real trading cost. ETFs have spreads that change with the market, while
cryptos have a 1% spread on each side. Both crypto trading and regular brokerage accounts have no fees or minimums.
Robinhood as a Backup
If you need more than three coins, Robinhood is another option. Along with
Litecoin, Bitcoin, and Ethereum, Robinhood supports 19 more digital currencies:
- Aave (AAVE)
- Avalanche (AVAX)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- BONK (BONK)
- Cardano (ADA)
- Chainlink (LINK)
- Compound (COMP)
- Dogecoin (DOGE)
- Dogwifhat (WIF)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Pepe (PEPE)
- Shiba Inu (SHIB)
- Solana (SOL)
- Steller Lumens (XLM)
- Tezos (XTZ)
- Trump (TRUMP)
- Uniswap (UNI)
- USDC (USDC)
- XRP (XRP)
To see these coins, type “crypto” in the search bar on the broker’s app or site
and select the Tradable Crypto choice in the drop-down.
When the list appears, click or tap a coin to open its page and place a trade.
Like Fidelity, Robinhood also carries crypto ETFs. To locate them, search for “crypto” again and choose the Crypto Commodity ETPs option.
Like Fidelity,
Robinhood has no trading commissions for ETFs or cryptocurrencies. However, Robinhood’s crypto spreads are smaller, about 0.63% on each side, depending on the coin.
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Fidelity Crypto Review
Fidelity is a good choice to start crypto trading. Robinhood, however, provides a lower spread and more cryptocurrency coins.
Updated on 3/11/2025.
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