How much does Fidelity Custody for Crypto Cost?
Here’s a summary of the main problem reported and the solutions discussed:
- Main Problem: The user wants to know about the costs associated with Fidelity’s crypto custody, supported cryptocurrencies, and the ability to transfer external crypto to Fidelity custody.
- Solutions Discussed:
- Fidelity allows trading of Bitcoin and Ethereum with no account opening fees and commission-free trades, but a 1% spread will apply to trades.
- Currently, users can only buy and sell spot Bitcoin or Ethereum, and cannot transfer crypto in or out of Fidelity, but the company is exploring this feature for the future.
Here’s the full thread
how
much does fidelity custody for crypto cost . what cryptos are supported and can we transfer our outside crypto to fidelity custody # 🔑︱crypto-service
You cannot move the crypto outside of Fidelity. https://www.nerdwallet.com/article/investing/fidelity-crypto#:~:text=Finally%2C%20the%20company%20says%20it,it%20will%20increase%20in%20value.
Thanks for reaching out to us regarding this.
Fidelity Crypto gives you the opportunity to buy, sell, and secure bitcoin and ethereum with as little as $1 and access both your traditional and crypto investments all in one place. There is no fee to open an account. Your Fidelity Crypto trades are commission free. A spread of 1% will be factored into every trade execution price. A spread is the difference between your execution price and the price at which Fidelity Digital Assets fills your order. Fidelity Digital Assets won’t separately calculate and disclose spread earned on the trade confirmation screen.
At this time, Fidelity Crypto only allows you to buy spot Bitcoin or Ethereum. Currently, you won’t be able to receive or send cryptocurrency transfers. But, we’re exploring cryptocurrency transfers in the future. Turn on your notifications to receive updates.