how to buy crypto at fidelity

To purchase cryptocurrency on a reliable exchange like Coinbase or Binance.US, set up an account, verify your identity, deposit funds, select the desired cryptocurrency, specify the purchase amount, review the details, and securely store the purchased assets.

Feb 03, 2025 at 02:54 am

Key Points

• Choose a reliable crypto exchange or platform.
• Create an account and complete identity verification.
• Deposit funds into your account via bank transfer or wire transfer.
• Select the desired cryptocurrency from the platform's offerings.
• Specify the amount of cryptocurrency you wish to purchase.
• Review the order details and execute the transaction.
• Securely store your purchased cryptocurrency in a hardware wallet or software wallet.

Step-by-Step Guide to Buying Crypto at Fidelity

1. Choose a Reliable Crypto Exchange or Platform:

• Coinbase: A reputable and user-friendly exchange with various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin.
• Binance.US: The American branch of Binance, offering a wide range of cryptocurrencies and trading options.
• Gemini: A regulated exchange known for its security and compliance features.

2. Create an Account and Complete Identity Verification:

• Provide personal information such as your name, address, email, and phone number.
• Submit government-issued identification documents (e.g., driver's license, passport) for verification purposes.
• This process ensures your identity and prevents financial fraud.

3. Deposit Funds into Your Account:

• Log into your exchange account and locate the "Deposit" option.
• Choose the desired deposit method (e.g., bank transfer, wire transfer).
• Enter the required information and follow the instructions to deposit funds.
• Deposits may take several business days to process, depending on the method.

4. Select the Desired Cryptocurrency:

• Navigate to the exchange's trading platform.
• Search for the specific cryptocurrency you wish to purchase (e.g., Bitcoin, Ethereum).
• Review the market data and price charts to make an informed decision.

5. Specify the Amount of Cryptocurrency:

• Enter the amount of cryptocurrency you wish to purchase.
• Consider your budget and investment strategy before specifying the quantity.
• The platform will display the estimated value of the purchase in both cryptocurrency and your local currency.

6. Review the Order Details and Execute the Transaction:

• Verify the order details, including the cryptocurrency, amount, price, and estimated fees.
• If satisfied, click on the "Buy" button to execute the transaction.
• The cryptocurrency will be credited to your exchange account within a few minutes.

7. Securely Store Your Purchased Cryptocurrency:

• Store your cryptocurrency in a secure location to protect it from unauthorized access and theft.
• Consider using a hardware wallet (e.g., Ledger, Trezor) for maximum security.
• Store your private keys and passwords securely, as losing them could result in the loss of your cryptocurrency.

FAQs

Q: What is Fidelity crypto?
A: Fidelity crypto is not a specific cryptocurrency or token. Fidelity Investments, a large financial services company, offers crypto trading services through its Fidelity Crypto platform.

Q: Does Fidelity allow crypto withdrawal?
A: Yes, Fidelity allows the withdrawal of supported cryptocurrencies to external wallets. However, not all cryptocurrencies are withdrawable.

Q: Is Fidelity crypto safe?
A: Fidelity Crypto employs security measures to protect its users and their crypto assets. This includes two-factor authentication, cold storage, and insurance coverage.