Yes, you can buy crypto on Fidelity, but only through a separate brokerage account

Fidelity lets you buy Bitcoin and Ethereum through Fidelity Crypto, a standalone platform separate from your regular Fidelity brokerage account. You cannot buy cryptocurrency through a traditional Fidelity investment account, IRA, or 401(k). If you want to hold crypto at Fidelity, you need to open a dedicated crypto account, fund it with cash, and trade from there.

The platform is available to U.S. residents and requires identity verification before you can trade. Fidelity currently offers Bitcoin and Ethereum only — not altcoins or smaller cryptocurrencies. Trades settle in your account within one to two business days.

Key Takeaways

  • Fidelity Crypto is a separate account from your regular Fidelity brokerage and requires its own setup and funding.
  • You can only buy Bitcoin and Ethereum through Fidelity's crypto platform, not other cryptocurrencies.
  • Fidelity does not allow cryptocurrency holdings inside retirement accounts like IRAs or 401(k)s.
  • You pay Fidelity's standard trading fees when you buy or sell crypto, with no separate crypto-specific fees.

How to open a Fidelity Crypto account

Start by going to Fidelity's website and selecting the Fidelity Crypto option. You will need to provide your Social Security number, date of birth, and address for identity verification. Fidelity will also ask about your investment experience and why you want to trade crypto — these questions help them understand your situation but do not block you from opening the account.

Once your account is approved, you fund it by linking a bank account or transferring money from an existing Fidelity brokerage account. You can then place buy orders for Bitcoin or Ethereum. The minimum purchase amount varies but is typically a small fraction of a coin, so you do not need thousands of dollars to start.

What cryptocurrencies Fidelity offers

Fidelity Crypto currently supports only two cryptocurrencies: Bitcoin and Ethereum. These are the two largest cryptocurrencies by market value, but if you want to buy Dogecoin, Solana, XRP, or any other coin, you cannot do it through Fidelity. You would need to use a different platform like Coinbase, Kraken, or another crypto exchange.

Fidelity has stated it may add more cryptocurrencies in the future, but there is no announced timeline. If you are interested in a specific coin that Fidelity does not offer, check whether another platform you already use supports it before opening a new account.

Fees and costs when buying crypto at Fidelity

Fidelity charges its standard brokerage commission on crypto trades — currently $0 for most customers on most trades. However, Fidelity does charge a spread (the difference between the buy and sell price) when you trade crypto, which is how they make money on the transaction. The spread varies depending on market conditions and the size of your trade.

There are no separate account fees, monthly charges, or inactivity fees for holding crypto at Fidelity. If you transfer crypto out of Fidelity to another wallet or exchange, Fidelity may charge a withdrawal fee — check their current fee schedule before you move coins.

Crypto in retirement accounts: what is not allowed

You cannot hold Bitcoin, Ethereum, or any other cryptocurrency inside a Fidelity IRA, Roth IRA, SEP IRA, or 401(k). Retirement accounts have strict rules about what assets they can hold, and cryptocurrency does not meet those requirements at Fidelity. If you want to own crypto and also save for retirement, you need to do both in separate accounts — crypto in Fidelity Crypto and retirement savings in an IRA or 401(k).

Some other financial institutions offer cryptocurrency options inside self-directed IRAs, but Fidelity does not. If holding crypto inside a tax-advantaged retirement account is important to you, you would need to open an account elsewhere.

How Fidelity Crypto differs from other platforms

Fidelity Crypto is a brokerage platform, not a crypto exchange like Coinbase or Kraken. That means you are buying crypto from Fidelity and holding it in an account Fidelity manages, rather than trading directly on an open market. The advantage is that Fidelity handles custody and security — your coins are stored in Fidelity's vaults, not in a wallet you control yourself.

The trade-off is less flexibility. You cannot transfer coins to a personal wallet as easily, and you are limited to the two cryptocurrencies Fidelity offers. If you want to trade frequently, hold many different coins, or move your crypto to a hardware wallet, a dedicated crypto exchange may be a better fit. If you want the simplicity and security of a major financial institution, Fidelity Crypto works well.

Getting started: next steps

If you already have a Fidelity brokerage account, you can log in and look for the Fidelity Crypto option in your account menu. If you do not have a Fidelity account, you will need to create one first — you can do this on Fidelity's website. The setup process takes about 10 to 15 minutes and requires basic personal information and bank account details.

Before you fund your account, decide how much you want to invest. Crypto prices move quickly, so only invest money you can afford to lose. Once your account is funded and verified, you can place your first buy order for Bitcoin or Ethereum whenever you are ready.

Frequently Asked Questions

Can I transfer Bitcoin or Ethereum from another exchange into Fidelity Crypto?

Fidelity Crypto does not currently support incoming transfers of crypto from other platforms. You can only buy crypto directly through Fidelity's platform. If you already own Bitcoin or Ethereum elsewhere and want to move it to Fidelity, you would need to sell it on your current platform, withdraw the cash, and then buy it again through Fidelity Crypto.

What happens if I want to move my crypto out of Fidelity later?

You can sell your Bitcoin or Ethereum back to Fidelity and withdraw the cash to your bank account. Fidelity does not currently allow you to transfer coins to an external wallet. If you need that option, you would need to use a different platform.

Is my crypto insured if something happens to Fidelity?

Fidelity holds crypto in segregated accounts and uses cold storage (offline vaults) for security. However, cryptocurrency holdings are not covered by FDIC insurance the way bank deposits are. Fidelity maintains insurance for custody and operational risks, but the extent of coverage depends on the specific circumstances. Contact Fidelity directly for details on their current insurance policies.

Do I have to pay taxes on crypto I buy and hold at Fidelity?

You owe taxes when you sell crypto at a gain, not when you buy it. The tax rate depends on how long you held it and your income level. Fidelity will send you tax documents at the end of the year showing your transactions. Consult a tax professional about your specific situation, as crypto tax rules are complex and vary by state.

Can I set up automatic purchases of Bitcoin or Ethereum?

Fidelity Crypto does not currently offer automatic recurring purchases or dollar-cost averaging features. You have to place each buy order manually. Some other crypto platforms do offer automatic purchases, so if that feature matters to you, compare what other platforms provide.