Fidelity Quietly Opens its Fidelity Crypto to the Public
According to reports, Fidelity Digital Assets recently quietly opened its access to Fidelity Crypto to the public. Millions of users can now trade Bitcoin and Ethereum on the platform without commission. The application was previously limited to waiting lists, which users can scroll through. Fidelity Crypto is open to new and existing customers. New customers must create a Fidelity Broker account during the setup process. This service is not available in all states.
Fidelity Crypto, Fidelity’s encryption investment product, has been opened to all users
Analysis based on this information:
Reports revealed that Fidelity Digital Assets, a subsidiary of Fidelity Investments, has opened access to its Fidelity Crypto platform to the public. This means that millions of interested individuals can now trade cryptocurrencies, such as Bitcoin and Ethereum, on the platform without any commission. Previously, the platform was only available to individuals who were on a waiting list, which they had to scroll through. Now, both new and existing customers can access the service.
However, new customers are required to create a Fidelity Broker account as part of the setup process. It is important to note that this service is not yet available in all states, so individuals who are interested in using it should check if it is available in their state.
This move by Fidelity is significant for many reasons. Firstly, it shows that the company recognizes the growing interest in cryptocurrencies and is willing to provide a platform for individuals to trade them. Secondly, by offering commission-free trading, Fidelity is making it easier for individuals to invest in cryptocurrencies that are notorious for being expensive to trade. This could potentially attract more people to invest in cryptocurrencies and help to increase its adoption.
Fidelity is not the first traditional financial institution to offer cryptocurrency trading services. In recent years, other financial institutions such as Robinhood, TD Ameritrade, and E-Trade have also entered the cryptocurrency trading space. However, Fidelity stands out due to its reputation as a trusted and established financial services provider.
In conclusion, Fidelity’s decision to open its Fidelity Crypto platform to the public is a significant move in the cryptocurrency trading space. Offering commission-free trading makes it easier for individuals to invest in cryptocurrencies, potentially increasing its adoption. This move also cements Fidelity’s position as a leader in the financial services industry.
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