How to Buy Crypto with Fidelity

Can I Buy Crypto with Fidelity?

Yes, you can buy Bitcoin and Ethereum directly through Fidelity Crypto. Fidelity also offers investments in crypto-related ETFs, trusts, and stocks of crypto companies. However, be aware that Fidelity's fees can exceed 2%, making it more expensive than some alternatives.

For a wider range of cryptocurrencies, consider a regulated crypto exchange in the USA registered with FinCEN. These platforms comply with financial regulations and provide a secure way to trade various cryptocurrencies like BTC, ETH, and SOL using U.S. dollars.

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How to Buy Crypto with a Fidelity Alternative

For those seeking an alternative to Fidelity for purchasing cryptocurrencies, Kraken is a top choice. This U.S.-based platform is secure, efficient, and compliant with FinCEN regulations. Kraken is trusted by over 10 million users globally and allows direct USD deposits from bank accounts. It offers access to over 200 crypto assets with competitive fees and additional features like crypto staking.

To buy crypto on Kraken, follow these steps:

1. Set Up an Account: Go to the Kraken website and register.
2. Deposit Funds: Connect your bank account for USD transfers.
3. Choose Your Crypto: Explore the 200+ cryptocurrencies available.
4. Make Your Purchase: Select the amount and crypto you want, then complete the transaction.

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What are the Fees?

Fidelity imposes a spread exceeding 2% on cryptocurrency transactions, which is higher than many other options. Generally, our research found that most exchanges charge trading fees and spreads ranging from 0.1% to 0.5%.

Kraken stands out as a more affordable alternative, with trading fees starting at 0.16%, significantly lower than those of Fidelity and Coinbase. Additionally, Kraken offers free USD deposits, including ACH transfers, making it an attractive choice for U.S. investors.

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About Fidelity Crypto

Fidelity Crypto enables users to trade only Bitcoin and Ethereum on the same platform used for stock trading. It provides institution-level security and services through Fidelity Digital Assets, which has operated since 2018. Investors can start trading with as little as $1 and access educational resources to learn about cryptocurrencies. Integrated into the Fidelity® mobile app, it allows for seamless management of both traditional and crypto investments.

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Bottom Line

Fidelity offers an easy way to invest in Bitcoin and Ethereum, along with crypto-related ETFs, trusts, and stocks. However, its fees exceeding 2% are relatively high, and it only supports BTC and ETH trading. For a wider range of cryptocurrencies and lower fees, consider U.S.-based exchanges like Kraken.