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Author: Admin | 2025-04-28
When Fidelity Investments rolled out its crypto service in 2021, it introduced digital assets for the first time to the company's approximately 40 million individual clients.Crypto isn't for everyone — it's risky, volatile and can be hard to navigate. Fidelity's product has simplified the process, largely by starting investors with just a few crypto options.Fidelity Crypto could be appealing for investors who are curious about cryptocurrency and already know and trust Fidelity with their investments.But if you’re already an advanced crypto investor, chances are you’re not going to be interested in switching for these new offerings alone. While Fidelity’s low trading costs are competitive with some of the leading crypto exchanges, the selection and crypto functionality are not yet up to par.For instance, Fidelity offers only three cryptocurrencies: Bitcoin, Ethereum and Litecoin. And users can't send or receive cryptocurrency from their accounts, a must for investors who want to use crypto for payments or to access blockchain-based services on the web. Fidelity does say this feature is on their roadmap, but has not given a specific timeframe for when it may be implemented. You can sell crypto for fiat money, though. AdvertisementCoinbaseRobinhood CryptoNerdWallet rating 4.6/5NerdWallet rating 3.9/5Fees 0% - 4%varies by type of transaction; other fees may applyFees $0per tradeAccount minimum $0Account minimum $0Promotion Get $200 in cryptowhen you sign up. Terms Apply.Promotion Noneno promotion available at this timeLearn MoreLearn MoreWhy you might want to sign upHere are a few factors to consider as you evaluate Fidelity's crypto offerings.Crypto trading feesFidelity is offering customers what it describes as “commission-free” crypto trading. That doesn’t necessarily mean trading is free. The company says it takes a spread of up to 1% on crypto trades.Still, that’s relatively good compared with other crypto services reviewed by NerdWallet. Coinbase, the largest U.S.-based exchange focused solely on crypto, has a confusing fee structure that may result in fees anywhere between 1% and 4%, depending on the method of payment. Funding and minimumsFunding a Fidelity Crypto account could be easy if you already have a brokerage or cash management account with the company. You’ll be able to move money from Fidelity accounts into Fidelity Crypto.There’s no minimum deposit to open a crypto trading account. And the minimum crypto purchase is $1, Fidelity says. These factors put the company on even footing with most other leading exchanges.If you don’t have a Fidelity account, making purchases will require you to create and fund an account such as a brokerage or cash management account.Why you might want to use another exchangeAvailabilityFidelity Crypto is initially available 38 states. If you can’t access the service in your state, you’ll have to go with another option.States where Fidelity Crypto is availableAlabamaArkansasCaliforniaColoradoDelawareFloridaIdahoIllinoisIndianaIowaKansasKentuckyMaineMassachusettsMichiganMississippiMissouriMontanaNebraskaNevadaNew HampshireNew JerseyNew YorkNorth DakotaOhioOklahomaOregonPennsylvaniaSouth CarolinaSouth DakotaTennesseeTexasUtahVermontVirginiaWashingtonWisconsinWyomingCrypto selectionFidelity Crypto’s offerings are on the low end among cryptocurrency platforms reviewed by NerdWallet. Granted, Bitcoin and Ethereum are the two most valuable cryptocurrencies (and Litecoin is one of the original altcoins), which means they are widely used and relatively well-established in this emerging sector.However, cryptocurrency
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