How to Buy Crypto with Charles Schwab
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Summary: Charles Schwab doesn't support direct crypto trading yet, but clients can invest indirectly through crypto ETFs like IBIT, ETHA, crypto futures, and blockchain-focused stocks.
For direct crypto purchases, investors should consider regulated exchanges like Kraken or Coinbase, which offer hundreds of cryptocurrencies, secure custody, low fees, and flexible USD funding methods.
Best Alternative to Charles Schwab - Kraken
Kraken is the best Charles Schwab alternative, offering direct crypto trading, 460+ assets, secure custody, low fees, and easy USD deposits using ACH or wire transfers.
Licensing & Regulation
FinCEN, FCA, FINTRAC and more.
Supported Assets
460+ Cryptocurrencies
USD Deposit Methods
ACH Transfers, Wire, Cards & More
Can I Buy Crypto with Charles Schwab?
No, Charles Schwab does not currently support direct crypto trading for spot assets like Bitcoin and Ethereum. Instead, clients can access cryptocurrency markets indirectly through Schwab brokerage accounts.
Schwab offers exchange-traded products (ETPs) that track the spot prices of cryptocurrencies like Bitcoin and Ether, including the iShares Bitcoin Trust (IBIT) and iShares Ethereum ETF (ETHA). These products provide crypto exposure without requiring private wallets.
Clients can also invest in Schwab’s Crypto Thematic ETF (STCE), mutual funds tied to digital assets, crypto futures (such as Bitcoin and micro BTC futures, pending account approval), and crypto-focused stocks like Coinbase (COIN), MicroStrategy (MSTR), and Riot Platforms (RIOT).
Charles Schwab Crypto Trading Fees
Charles Schwab provides commission-free trading for crypto-related exchange-traded products (ETPs), including spot BTC and ETH funds.
Here are the main fees to invest in crypto on Charles Schwab:
- Spot Crypto ETPs (IBIT, ETHA): $0 commission, no account minimum.
- Crypto Thematic ETF (STCE): $0 commission; invests in blockchain-focused companies.
- Crypto-related Stocks: Coinbase (COIN), MicroStrategy (MSTR), Riot Platforms (RIOT) and others are $0 commission.
- Mutual Funds (Crypto Futures, Digital Assets): $0 commission via Schwab Mutual Fund OneSource.
- Crypto Futures (Bitcoin contracts): Standard futures fees; requires separate account approval.
Schwab does not currently support direct crypto transfers, eliminating blockchain network fees. All trading costs are transparently provided before executing trades.
How to Buy Bitcoin & Crypto with Charles Schwab Alternative
Charles Schwab clients interested in direct cryptocurrency purchases need to transfer funds from Schwab to a regulated crypto exchange like Kraken.
Kraken is a trusted American exchange, registered with FinCEN (MSB #31000270997766), offering over 460 cryptocurrencies and convenient USD funding methods such as ACH transfers, bank wires, and credit or debit cards.
Follow these clear steps to purchase crypto through Kraken:
- Open a Kraken Account: Sign up and complete the required KYC verification.
- Deposit Funds: Transfer USD via ACH, bank wire, or debit/credit card.
- Select Your Cryptocurrency: Choose from assets like Bitcoin (BTC) or Ethereum (ETH).
- Confirm Your Trade: Enter the amount, verify details carefully, and finalize the purchase.
Alternative Crypto Exchanges for Charles Schwab
If you're exploring alternatives beyond Kraken for direct crypto investing outside of Charles Schwab, several regulated U.S. platforms offer strong options:
- Coinbase: A FinCEN-regulated exchange offering secure trading for over 250 cryptocurrencies, staking services, and advanced trading via Coinbase Pro. Average fees around 0.6%.
- Gemini: Licensed by the NYDFS, Gemini provides access to 100+ cryptocurrencies with industry-leading security. Typical trading fees are about 1.49%.
- Robinhood: A FINRA/SIPC-regulated broker offering commission-free crypto trading alongside stocks. Supports 15 cryptocurrencies (e.g., BTC, ETH, SOL, DOGE, XRP), with spreads around 2%. Deposit via ACH, wire, or debit/credit card.
About Charles Schwab
Charles Schwab is one of America's largest brokerage and wealth management firms, serving nearly 37 million investors and overseeing more than $10 trillion in client assets.
Founded in 1971, Schwab built its reputation through affordable, commission-free trading in stocks, ETFs, mutual funds, and options. The firm also provides automated investing tools like Schwab Intelligent Portfolios, retirement accounts, and personalized wealth advisory services.
Final Thoughts
While Charles Schwab doesn't yet support direct cryptocurrency trading, investors can still effectively tap into the crypto market through Schwab’s indirect investment products like IBIT, ETHA, and the Crypto Thematic ETF (STCE).
If direct crypto ownership is your goal, transferring funds to trusted exchanges such as Kraken, Coinbase, or Gemini offers secure, straightforward access.
Evaluate your investment priorities, risk tolerance, and trading preferences carefully to choose the crypto investment path that best fits your financial objectives.
Frequently asked questions
Can I Trade Bitcoin Futures on Schwab?
Are Crypto ETFs on Charles Schwab Safe?
Does Schwab Allow Crypto IRA Investments?
When Will Charles Schwab Launch Crypto Trading?
Written by
Antony Bianco
Head of Research
Antony Bianco, co-founder of Datawallet, is a DeFi expert and active member of the Ethereum community who assist in zero-knowledge proof research for layer 2's. With a Master’s in Computer Science, he has made significant contributions to the crypto ecosystem, working with various DAOs on-chain.
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