Can you trade crypto on Fidelity? — Can you trade crypto on Fidelity?

Quick answer: can you trade crypto on Fidelity?

Short summary, fidelity crypto trading

Yes. Fidelity allows retail customers in supported U.S. jurisdictions to buy, sell, and hold a limited set of cryptocurrencies on its retail platform, but availability depends on account type and the live list of supported coins published by Fidelity Fidelity cryptocurrency overview.

That means you can often execute trades for core coins in a taxable brokerage or, in some cases, an eligible IRA, but not every token you see on broader exchanges will be available at Fidelity.

Who this applies to

This guidance is aimed at everyday investors deciding whether to use Fidelity for crypto exposure, including people with existing Fidelity brokerage accounts and those considering crypto within an IRA. For account-specific availability and rules, check Fidelity’s account terms and the supported-cryptocurrencies documentation CoinDesk reporting on Fidelity retail crypto availability and our crypto coverage on Finance Police.

What Fidelity’s crypto service actually is

Retail trading vs institutional custody

The retail service integrates into Fidelity’s brokerage platform so typical customers see crypto alongside their other holdings, while Fidelity Digital Assets provides custody, institutional execution, and related services that are organized for large-scale or institutional clients.

Fidelity operates two related but distinct offerings: a retail crypto trading service that lets eligible customers trade and hold certain tokens inside supported account types, and an institutional custody and trading arm under Fidelity Digital Assets that serves institutional clients and custody needs Fidelity Digital Assets overview.

Which Fidelity teams handle crypto

Firms like Fidelity separate retail product teams from custody and institutional teams to match different regulatory, operational, and security needs; custody responsibilities for retail crypto at Fidelity are routed through Fidelity Digital Assets or related custody services rather than being an anonymous third party Fidelity cryptocurrency overview.

Understanding this split clarifies why retail users interact with their brokerage interface while custodial practices and insurance or security details are documented by the institutional custody group.

Which cryptocurrencies does Fidelity support?

Core coins and the published supported list

Fidelity’s retail offering centers on Bitcoin and Ethereum plus a restricted list of additional tokens; Fidelity publishes and updates the live list of supported cryptocurrencies in its help documentation, so consult that source to confirm current availability Fidelity supported-cryptocurrencies documentation.

Because the list can change, it is not practical to rely on a cached token roster from another site; check the supported-cryptocurrencies page for the authoritative roster before you plan a trade.

How the list can change and what to check

Fidelity may add or remove tokens based on regulatory review, liquidity and other operational factors, so a token you see available on a specialized exchange may not be offered at Fidelity at the time you check News coverage of Fidelity expanding crypto support and additional reporting such as The Block coverage.

When evaluating support, confirm not just whether a coin is listed but whether your account type is eligible to hold it and whether there are any regional restrictions for your jurisdiction.

How to enable and place a crypto trade on Fidelity

Account types that can use crypto (brokerage, eligible IRAs)

To trade crypto on Fidelity you generally need a retail brokerage account or an eligible IRA that supports crypto holdings; availability for retirement accounts depends on the custodial options offered for that IRA type and may vary by account Fidelity cryptocurrency overview.

Typical account types include taxable brokerage accounts and certain IRAs that meet Fidelity’s eligibility rules, but verify whether the specific IRA you plan to use allows crypto positions under current custody arrangements.

Onboarding steps and order entry basics

The usual onboarding steps are: open or use an eligible account, complete identity verification, accept the crypto-specific terms and disclosures presented by Fidelity, and enable crypto trading permissions in your account settings; after that you can place orders through the platform’s trading workflow CoinDesk reporting on Fidelity retail crypto availability.

Fees, execution and tax basics for Fidelity crypto trading

How Fidelity discloses fees and execution

Fidelity’s crypto fee structure often differs from standard equity commissions; for crypto the firm typically discloses spreads or markups and execution costs rather than a flat per-trade commission, so the effective cost depends on the coin and order type Fidelity cryptocurrency overview.

Because spreads and execution practices vary, compare the effective dollar cost for the specific coin and order size you plan to trade rather than assuming parity with commission structures for stocks.

Tax and reporting considerations

Crypto transactions are treated differently for tax reporting than many other assets, so selling or converting crypto in a taxable account can create taxable events and requires tracking cost basis and dates for accurate reporting; consider professional advice for complex situations SEC investor bulletin on cryptocurrency.

If you hold crypto in an IRA, tax rules differ because the account is tax-advantaged, but IRA custody arrangements and allowed assets may restrict what you can hold, so confirm custody options and any IRS guidance relevant to crypto in retirement accounts.

Custody, security and what Fidelity promises

What custody at Fidelity means

Custody for Fidelity’s crypto products is provided by Fidelity Digital Assets or related Fidelity custody services, which means Fidelity acts as the custodian holding client digital-asset positions rather than requiring you to self-custody private keys Fidelity Digital Assets custody information.

Holding crypto at a custody provider shifts responsibility for key management, platform security, and operational controls to the custodian, while you rely on the custodian’s disclosures about how assets are stored and protected.

Security measures and limitations

Institutional custodians commonly use layered protections such as cold storage, multi signature controls, and regulated custody protocols, but the precise protections, insurance coverage and operational limits vary by provider and account, so check Fidelity’s security and custody disclosures when deciding where to keep assets Fidelity cryptocurrency overview.

Compare custody at Fidelity with self-custody: self-custody gives you direct control of private keys and therefore full responsibility, while custodied holdings provide operational convenience and a shift of certain security responsibilities to the custodian.

When to use Fidelity and when to choose a dedicated crypto exchange

Common scenarios where Fidelity makes sense

Fidelity can be a good fit when you want crypto exposure alongside other investments in a single brokerage account, value custodian-managed custody, and prefer a familiar broker interface with consolidated tax documents; check whether the coin you want is supported and whether the fee and execution model suits your trade size Fidelity cryptocurrency overview. For additional background see our related guides on Finance Police.

For investors who prioritize single-account record keeping and integration with retirement or brokerage accounts, the convenience of a broker-based crypto offering can be an important decision factor.

Scenarios where an exchange may be preferable

If your primary need is access to a wide range of niche tokens or advanced on-chain features, a specialized exchange or custody solution is commonly the route investors take; that decision, however, changes custody responsibilities and tax-reporting processes compared with using a broker custody solution SEC guidance on cryptocurrency considerations.

Use the following checklist to decide: confirm that the coin is supported, compare effective fees and spreads, assess custody preferences, and consider tax reporting implications for your account type.

Common mistakes and pitfalls to avoid

Account and eligibility missteps

A frequent mistake is assuming every token is available at a broker; always verify Fidelity’s supported list before attempting a trade and confirm IRA eligibility if using a retirement account Fidelity supported-cryptocurrencies documentation.

Another misstep is not completing the required identity verification and crypto permissions steps before expecting live trading access, which can delay execution when markets move.

Cost and tax surprises

People sometimes overlook spreads and markups and assume crypto trades follow stock commission patterns; check the fee disclosures for the coin and order type to estimate true trading cost Coverage of Fidelity execution and fee changes.

Tax surprises are common when transaction records are incomplete; keep thorough transaction records, note cost basis and dates, and consult a tax adviser for complex situations.

Practical examples and scenarios

Example 1: Buying Bitcoin in a taxable brokerage

Imagine you want to buy Bitcoin in a taxable Fidelity brokerage account: first confirm Bitcoin is supported on the retail platform, then check the displayed spread or markup for the order, confirm settlement and custody terms, and place the order through the platform’s trade entry screen Fidelity supported-cryptocurrencies documentation.

After the trade, save the confirmation and note cost basis and timestamp for tax reporting; the trade shows up on your brokerage statements, which simplifies record keeping versus juggling multiple platforms.

Example 2: Considering an IRA for crypto exposure

If you consider holding crypto in an IRA, verify whether your particular IRA custodial setup at Fidelity permits crypto holdings and understand any additional setup steps or custodial constraints before initiating a transfer or trade Reporting on Fidelity IRA options for crypto.

IRA-held crypto does not generate immediate taxable events for gains while inside the account, but custodial rules and allowed assets are the gating factors, and you should confirm how distributions and conversions are treated under IRS rules.

Example 3: Wanting a token not offered by Fidelity

If the token you want is not on Fidelity’s supported list, a typical path is to use a specialized exchange or a dedicated custody solution that lists that token; recognize that doing so changes custody responsibilities, security considerations, and tax-reporting workflows compared with holding the token at Fidelity SEC investor bulletin on cryptocurrency.

Before moving assets between platforms, plan for transfer fees, withdrawal limits, and record keeping to maintain an accurate cost basis trail for tax purposes.

Clear next steps and where to verify details

What to check on Fidelity’s site before you trade

Check Fidelity’s official crypto overview and the supported-cryptocurrencies page for the live list of assets, review the fee disclosures for the coin you plan to trade, and confirm whether your account type is eligible to hold crypto positions Fidelity cryptocurrency overview. You can also find related commentary and resources on Finance Police.

If you are considering crypto in an IRA, verify custodial availability for that IRA type and any account-level restrictions listed on Fidelity’s support pages.

When to ask a tax or legal adviser

Ask a tax or legal adviser when your crypto activity involves large gains, complex transfers between taxable and tax-advantaged accounts, or when you need clarity on reporting obligations across jurisdictions; personalized advice can help with nuanced situations.

For most routine trades, clear record keeping and a basic understanding of taxable events will prepare you to report transactions correctly, but consult a professional for specific tax treatment questions.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.