- After announcing the launch of Fidelity Crypto a month ago. service that will allow investors to buy and sell Bitcoin, Fidelity Investments has finally begun officially opening retail Bitcoin (BTC) trading accounts for its clients.
- Users will need to have a Fidelity account to fund the Fidelity Crypto account, and they promise to allow users to trade Bitcoin and Ethereum commission-free.
Earlier this month, Loyalty investments one of the world’s largest financial services providers, announced the launch ‘Fidelity Crypto“. This is new service This would allow investors to buy and sell Bitcoin using custody services provided by Fidelity Digital Assets.
At the time, Fidelity opened a waiting list for early access and it looks like November 28th. finally started opening retail cryptocurrency accounts.
Fidelity’s retail customers will have access to Bitcoin.
According to The Block, this Monday, November 28, Fidelity sent out an email to its users saying “the wait is over.” Fidelity Crypto is a reality!
“Fidelity Crypto is your way to buy and sell bitcoin and ethereum within the Fidelity Investments app. the company wrote in its announcement Website.
Based on email users will need to have a Fidelity account to fund a Fidelity Crypto account, and once open promises to allow users to trade Bitcoin and Ethereum commission-free.
But there are two key points to keep in mind that Fidelity explained earlier this month. First, Fidelity Crypto will ask users to hold a minimum of $1 in their accounts, and secondly, although they will not charge a commission on transactions, 1% difference will be taken into account for each execution price.
Obviously the 1% difference will be the maximum rate as they can choose to apply a lower margin percentage or no margin at all.
moments Fidelity Crypto will be available in 35 US states, including New York, Florida, California, Pennsylvania, and more. Users from countries where the service is not yet available can join the waiting list and receive a notification when the platform receives permits to operate.
What will Fidelity Crypto offer?
Fidelity Crypto will be a custodian of cryptocurrencies, providing access to this new asset class for its retail investors.
“You will be able to trade cryptocurrencies for as little as $1 and at the same time have an integrated view of your traditional and crypto investments., explains the website. In other words, Fidelity Crypto will allow you to access two worlds from the same place: traditional and cryptocurrency.
Currently, it will only offer access to Bitcoin and Ethereum because they are “Top cryptocurrencies by market capitalization. This means that they have the highest total value among all cryptocurrencies in circulation.“. Nevertheless, Fidelity Crypto says it is evaluating which other cryptocurrencies to add to the platform over time.
Up until now, joining Fidelity Crypto required an email invitation. by mail, which will be sent by e-mail at the email address that was provided when registering for the early access list.
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