Everything you need to know about Fidelity Crypto

Fidelity Crypto is remarked as one of the most competitive exchanges for its low minimum purchase price. The biggest hook is how you can participate in the crypto trading market for as low as $1. Mix that with Fidelity’s reputable brand as a stock trading firm giving investors confidence in the crypto industry.

One important aspect to note about Fidelity Crypto is that it aims to be an easy entry point for investors who are not familiar with crypto. Avid traders in the digital asset market will find its platform lacking in tools and services found in other leading crypto exchanges. However, it still has its advantages that are overall beneficial for its users and the crypto market as a whole. 

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All about Fidelity Crypto

The best way to answer the question ‘What is Fidelity Crypto?’ is to uncover its origins. It is an institutional custody and trading platform for digital assets founded in 2018. This operates the Fidelity Investment (Fidelity) brand name, a multinational financial services corporation in Boston, United States. 

The full crypto service was rolled out in 2021 when digital assets got stronger hype. Fidelity had approximately 40 million individual clients then, allowing them to compete with older exchanges. This is impressive considering that the Fidelity Crypto platform lacks the following features expected in a crypto exchange:

• Capacity to send and receive crypto
• Large selection of crypto offerings
• Crypto to crypto conversion
   

Fidelity Crypto is a platform where you can only buy and sell Bitcoin (BTC) and Ethereum (ETH). Transactions can only be made from digital assets to fiat and vice versa. Most crypto investors will see this as a disadvantage but it’s appealing to newcomers who still think digital assets are risky ventures. 

Strategies like leverage and short/long margin trading are not services that people look for when approaching platforms like Fidelity. Thus, keeping the crypto trading platform simple avoids overwhelming clients. Having such a welcoming service helps keep the crypto economy growing.


 

What advantages does Fidelity offer to crypto investors?

On top of its simplicity, Fidelity Crypto also offers plenty of benefits that make them invaluable to their clients. All of these apply to all crypto traders because, at the end of the day, it’s your success that matters as an investor. Here are the main advantages clients can enjoy if they are using Fidelity Crypto in trading.

Highly reputable company in market trading

Fidelity is already one of the most trusted institutional custodians in the world. Offering a digital asset exchange as part of their services gives the crypto industry a significant boost in confidence among investors. That also means that they already have a strong client base, ensuring high circulation for Bitcoin and Ethereum. 

Liquidity refers to the activity in the market. It’s the frequency of the asset being sold and bought so having a high rate means that it is easier to trade. You can be fully confident that Bitcoin and Ethereum have high liquidity in Fidelity Crypto because of the number of their clients. 

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Commission-free trading 

Fidelity Crypto trading is officially commission-free but it will take a 1% spread. A spread is the difference between the asking price and the buying/selling price so it’s typically lower than the commission rate which is a fraction of the overall transaction. 

Many commission-based trading services ask for flat rates, too, which can be too expensive for other traders. A spread is ideal for regular traders which is primarily Fidelity’s client base. It’s the perfect platform for short-term purchases and spot crypto trading. 

Easy trading experience even for beginners

The biggest advantage of Fidelity Crypto investments is the platform's capacity for minimum funding. Clients can purchase or sell Bitcoin or Ethereum for as low as $1. It made crypto trading accessible to all kinds of traders, even those who are still testing a new venture and those with low budgets. 

Having such a low budget minimum means that clients can make small purchases on Fidelity Crypto. It can be crucial for traders who buy in small quantities every time the asset dips. Eventually, the total accumulated from these small purchases can be huge once the asset reaches a new bullish market. 

How to trade on Fidelity Crypto

Trading in Fidelity Crypto is similar to using any kind of crypto exchange. For newcomers to crypto trading, here’s a quick run-down of steps to start trading:

• Open a Fidelity Crypto account. 
  • Opening an account can take only a few minutes. It will ask for personal and contact information to fulfil the know-your-customer (KYC) requirements. This will verify your identity whenever you need to manage, recover, or close your account. 
• Pair or create a Fidelity brokerage account.
  • If you don’t have one yet, making an account in Fidelity Crypto will also help you make a brokerage account. This will be the platform where you conduct transactions like buying BTC or ETH to fund your crypto account. 
• Go to the Fidelity Crypto market to place or take an order.
  • Placing an order means you are buying/selling crypto and you’re the one placing the asking price. Taking it means that you are meeting or negotiating someone else’s asking price. Place an order and wait for a buyer or take someone else’s offer for a quicker transaction. 
     

Remember you can store BTC or ETH you buy on Fidelity Crypto but it cannot transfer these assets to different wallets. That means you can’t use this brokerage to buy crypto for Gamdom betting. You can fund your Fidelity Account using fiat earned from your casino winnings so it’s still useful for crypto gamblers. 

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