Can you Buy Crypto with Fidelity?

Yes, Fidelity offers cryptocurrency trading for its customers. Fidelity Digital Assets, a subsidiary of Fidelity, offers a range of cryptocurrency services, including custody, trading, and execution for institutional investors. Fidelity's cryptocurrency trading service is currently only available to institutional customers, such as hedge funds, family offices, and registered investment advisors, but not yet to individual retail customers.

Fidelity will be releasing a product for retail investors called Fidelity Crypto, however it will only offer Bitcoin and Ethereum trading. You can apply for early access upon release here.

Fidelity Crypto

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How to Buy Bitcoin and Crypto with a Fidelity Alternative

As outlined above, the best alternative to Fidelity to invest in digital assets is Uphold for users in the United States. Based on our research, we found that Uphold offered the most crypto assets, best fees, tightest spreads and best overall user experience compared to popular alternative. They are a FinCEN regulated exchange that is trusted by over 10 million users, making them a safe venue to start investing in the asset class.

Follow this simple 4 step guide to get started:

  1. Open an account with Uphold and complete the identity verification process.
  2. Go to ‘Deposit Funds’ and select 'My banks' to connect any US Bank account.
  3. Find whatever asset you want to buy from the search bar and tap ‘Trade’.
  4. Enter the amount you want to purchase and select ‘Open Trade’.
Best Alternative to Fidelity

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What is the Fidelity Crypto ETF?

If you are looking to only use Fidelity to buy cryptocurrencies and are not an institutional investor, you can invest in the Fidelity Crypto Industry and Digital Payments ETF (FDIG). This ETF gives investors exposure to  digital payment and crypto-related companies.It is listed on the Nasdaq Exchange and can be bought through any broker offering that exchange.

The FDIG ETF is made up of the current assets:

  • SQ Block Inc Class A - 14.91%
  • COIN Coinbase Global Inc Ordinary Shares - Class A14.21%
  • MARA Marathon Digital Holdings Inc- 7.61%
  • RIOT Riot Platforms Inc - 7.56%
  • Hut 8 Mining Corp - 5.56%
  • APLD Applied Digital Corp - 4.37%
  • CLSK Cleanspark Inc - 3.71%
  • HIVE Blockchain Technologies Ltd - 3.56%
  • Bitfarms Ltd - 2.60%
  • Galaxy Digital Holdings Ltd - 2.46%

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Final Thoughts

To summarize, while Fidelity offers cryptocurrency trading and services for institutional investors, it does not currently offer crypto assets through its online platform for retail investors. If you're a retail investor looking to buy crypto assets, Uphold is a recommended alternative with a wide selection of assets, low fees, and a user-friendly experience.

However, if you're looking to invest in the crypto industry through Fidelity, the Fidelity Crypto Industry and Digital Payments ETF (FDIG) is available, which provides exposure to digital payment and crypto-related companies. As always, it's important to understand the risks involved with investing in cryptocurrencies and to conduct thorough research before making any investment decisions.