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, you open a Crypto account specifically for that purpose, fund it, and trade from there.

The platform is available to U.S. residents and requires the same identity verification as opening any Fidelity account. Fidelity currently offers Bitcoin and Ethereum only — not altcoins or smaller cryptocurrencies. Trades settle immediately, and you can transfer your crypto to an external wallet if you choose, though Fidelity also offers custody (holding it for you).

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 Crypto, not other cryptocurrencies.
  • Trades execute immediately, and you can hold crypto in your Fidelity account or transfer it to your own wallet.
  • Fidelity Crypto accounts are subject to the same identity verification and account opening requirements as other Fidelity products.

How to open a Fidelity Crypto account

Start by going to the Fidelity Crypto website or the Fidelity mobile app and selecting the option to open a new Crypto account. You will need to provide your Social Security number, date of birth, and address — the same information required for any Fidelity account. Fidelity will verify your identity electronically, which usually takes a few minutes.

Once your account is open, you link a bank account to fund it. You can transfer money from your existing Fidelity brokerage account if you have one, or link an external bank account. After your deposit clears, you can place your first trade. The entire process typically takes less than an hour from start to finish.

What cryptocurrencies Fidelity offers and how to trade them

Fidelity Crypto currently offers Bitcoin (BTC) and Ethereum (ETH) only. You cannot buy Dogecoin, Solana, XRP, or any other cryptocurrency through Fidelity. If you want to trade other coins, you would need to use a different platform like Coinbase or Kraken.

To buy Bitcoin or Ethereum on Fidelity, you enter the amount in dollars you want to spend (or the number of coins you want to buy), review the current price, and confirm the trade. Fidelity charges a flat fee per transaction — the exact amount depends on the size of your trade and current market conditions. The trade executes immediately at the price you see on screen, and the crypto appears in your account right away.

Storing your crypto: Fidelity custody versus self-custody

When you buy crypto on Fidelity, you have two choices for where it lives. You can keep it in your Fidelity Crypto account, where Fidelity holds it for you and insures it against theft or loss. Or you can transfer it to a self-custody wallet — a digital wallet you control with your own private keys, held on your computer, phone, or a hardware device like a Ledger or Trezor.

Keeping crypto in your Fidelity account is simpler and safer if you are new to crypto — you do not have to manage passwords or worry about losing your private keys. Transferring to self-custody gives you complete control but means you are responsible for keeping your keys secure. If you lose your keys, you lose access to your crypto permanently. Fidelity charges a small fee to transfer crypto out to an external wallet.

Fees and pricing on Fidelity Crypto

Fidelity charges a flat transaction fee when you buy or sell Bitcoin or Ethereum. The fee varies based on the size and type of trade, but Fidelity publishes its fee schedule on the Crypto platform so you can see the exact cost before you confirm. There are no monthly account fees or inactivity fees for holding crypto in your Fidelity account.

The price you see on Fidelity Crypto is the real-time market price plus Fidelity's fee. You will see the total cost before you complete the trade, so there are no hidden charges. If you transfer crypto to an external wallet, Fidelity charges a network fee (also called a gas fee) to cover the cost of processing the transaction on the blockchain — this fee varies depending on network congestion.

Tax reporting for crypto bought on Fidelity

Any time you buy or sell crypto, you trigger a taxable event. The IRS treats cryptocurrency as property, not currency, so you owe capital gains tax on the difference between what you paid and what you sold it for. If you held the crypto for less than a year, it is taxed as short-term capital gains (at your ordinary income tax rate). If you held it for more than a year, it is taxed as long-term capital gains (usually at a lower rate).

Fidelity provides transaction history and cost basis information in your account, which you can use to calculate your gains and losses. You are responsible for reporting this to the IRS on your tax return — Fidelity does not file tax forms for crypto trades the way it does for stock trades. If you transfer crypto to an external wallet and trade it elsewhere, you still owe tax on those transactions, and you will need to track them separately.

Frequently Asked Questions

Can I buy crypto in my Fidelity IRA or 401(k)?

No. Cryptocurrency is not available through retirement accounts at Fidelity. You can only buy crypto through a standard Fidelity Crypto account, which is not a retirement account and does not offer tax-deferred growth. If you want to hold crypto in a retirement account, you would need to use a specialized provider like Alto IRA or Rocket Dollar.

What happens if Fidelity goes out of business?

Fidelity is a large, established broker and is unlikely to fail, but if it did, your crypto would be protected. Fidelity holds customer crypto in segregated accounts and insures it against theft or loss. Your crypto is yours — Fidelity cannot use it for its own business or lend it out.

Can I set up automatic purchases of crypto on Fidelity?

Fidelity does not currently offer recurring or automatic crypto purchases. You have to manually buy Bitcoin or Ethereum each time you want to add to your position. Some other platforms like Coinbase and Kraken offer automatic purchase plans if that is important to you.

Is Fidelity Crypto available on the Fidelity mobile app?

Yes. You can open a Crypto account, buy and sell Bitcoin and Ethereum, and check your balance through the Fidelity mobile app. The experience is the same as on the website, and trades execute with the same fees and pricing.