Fidelity is one of the most trusted names in financial services, with a legacy dating back to 1946. Known for its robust investment platforms and retirement planning tools, Fidelity has gradually expanded into the digital asset space. But if you're wondering whether you can buy XRP, Bitcoin, or other popular cryptocurrencies through Fidelity, the answer requires some nuance.
While Fidelity does offer access to select cryptocurrencies, it’s not a full-service crypto exchange. Here’s what you need to know about buying digital assets through Fidelity and how it compares to other platforms.
What Cryptocurrencies Can You Buy on Fidelity?
Fidelity allows investors to purchase Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) directly through its dedicated Fidelity Crypto account. These trades can be made with as little as $1, making it accessible for beginner investors.
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In addition to direct purchases, Fidelity offers exposure to digital assets through regulated investment funds:
- Fidelity Wise Origin Bitcoin Fund (FBTC)
- Fidelity Ethereum Fund (FETH)
These funds can be bought and sold within a standard brokerage account, just like stocks or ETFs, offering a more traditional investment route for those wary of managing private keys or volatile spot markets.
However, you cannot buy XRP, USDT, BNB, or most altcoins on Fidelity. If your goal is to invest in a broader range of cryptocurrencies, you’ll need to explore alternative platforms.
Understanding the Fidelity Crypto Account
The Fidelity Crypto account is designed for simplicity and security. Once set up, you can trade 23 hours a day, seven days a week—only pausing between 1 a.m. and 2 a.m. ET for system maintenance.
Despite its ease of use, there are key limitations:
- No external transfers: You cannot send crypto from your Fidelity account to an external wallet or another exchange.
- No incoming transfers: Cryptocurrencies purchased elsewhere cannot be deposited into your Fidelity account.
- No staking or DeFi access: The platform doesn’t support advanced blockchain features like staking, lending, or smart contracts.
This means Fidelity is best suited for long-term investors who want exposure to crypto without the complexity of self-custody—not traders or users seeking active blockchain engagement.
Who Can Open a Fidelity Crypto Account?
To open a Fidelity Crypto account, you must:
- Be a U.S. citizen or resident
- Be at least 18 years old
- Have an existing individual or joint brokerage account with Fidelity
The service is currently available in 38 U.S. states. If you reside in Alaska, Arkansas, Connecticut, Hawaii, Louisiana, New York, Rhode Island, Vermont, or Wyoming, you’re not eligible at this time.
If you don’t already have a Fidelity brokerage account, you can open one during the crypto account setup process.
How to Buy Cryptocurrency on Fidelity: Step-by-Step
1. Confirm Eligibility
Verify that you meet the age, citizenship, and state residency requirements. If you're in an eligible state and already have a brokerage account, you're ready to proceed.
2. Apply for a Crypto Account
Fidelity customers can log in and auto-fill the application. New users will need to provide:
- Full legal name
- Social Security number
- Date of birth
- Contact information
- Employment and income details
After submitting the application, you’ll create login credentials once approved.
3. Link a Funding Account
Fidelity doesn’t accept direct bank transfers to fund your crypto account. Instead, you must link one of the following:
- Standard Fidelity brokerage account
- Fidelity Cash Management Account
- Stock Plan Services account
Note: The funding account must have been opened after October 2003 and cannot be shared with another crypto account.
If your funding account lacks sufficient cash, transfer money from your bank—allow 1–3 business days for availability.
4. Place Your First Trade
Once funded, select Bitcoin, Ethereum, or Litecoin and place your order. Buy orders settle instantly.
Keep in mind:
- Orders based on coin amount allow up to 95% of available cash due to price volatility.
- You can transfer additional funds during purchase if needed.
5. Selling Crypto
Selling works similarly—sell orders settle immediately. When selling by dollar amount, only 95% of holdings can be sold at once for volatility control. To liquidate fully, choose “sell all” or specify coin quantity.
Fees and Costs: Is Fidelity Competitive?
Fidelity charges no commission on crypto trades—a major plus for cost-conscious investors.
However, it includes a 1% spread on every transaction—the difference between the market price and Fidelity’s execution price. While this isn’t itemized as a fee, it effectively acts as one.
Compared to other platforms:
- Coinbase: 0.5%–4.5% per trade
- Crypto.com: 0%–2.99%
- Robinhood: Up to 0.85% + network fees
Fidelity’s pricing is transparent and predictable—no hidden network or withdrawal fees—but the 1% spread may add up for frequent traders.
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Best Alternatives to Fidelity for Buying XRP and More
If you’re looking for a wider selection of cryptocurrencies—including XRP, Solana, or Cardano—here are top alternatives:
Coinbase
One of the most popular U.S.-based exchanges, Coinbase supports over 240 cryptocurrencies and offers:
- Coinbase Wallet (self-custody option)
- Staking with rewards
- Educational programs that pay crypto
- Visa debit card with crypto cashback
It also offers Coinbase One, a $29.99/month subscription with zero trading fees and enhanced support.
With strong security protocols and wide accessibility across all 50 states, Coinbase is ideal for users wanting flexibility beyond Fidelity’s limited offerings.
Crypto.com
With over 400 supported coins, Crypto.com is one of the largest exchanges by asset count. It also features:
- Onchain Wallet integration
- Staking and earning options
- Stock and ETF trading
- Sports betting markets
- Tiered debit cards with cashback
Available in 49 states (excluding New York), it’s a strong contender despite mixed customer reviews.
Robinhood
Robinhood offers around 26 cryptocurrencies, with availability varying by state. While it lacks advanced features like staking or wallet exports in some regions, it does provide:
- Commission-free trading
- Crime insurance for stored assets
- Two-factor authentication
- A rewards credit card (Gold membership)
Though limited in scope, Robinhood remains popular for its user-friendly mobile app and seamless integration with stock trading.
Frequently Asked Questions (FAQ)
Q: Can I buy XRP on Fidelity?
A: No. Fidelity only supports Bitcoin, Ethereum, and Litecoin for direct purchase. XRP is not available.
Q: Can I transfer my crypto from Fidelity to another wallet?
A: No. Fidelity does not allow transfers to external wallets or other exchanges.
Q: Are there fees for trading crypto on Fidelity?
A: There are no commissions, but Fidelity applies a 1% spread on all trades.
Q: Is Fidelity Crypto available in all U.S. states?
A: No. It's currently available in 38 states. Residents of New York and several others are excluded.
Q: Can I stake crypto on Fidelity?
A: Not currently. Fidelity does not offer staking or yield-generating services for cryptocurrencies.
Q: How do I fund my Fidelity Crypto account?
A: You must link an existing Fidelity brokerage or cash management account—direct bank transfers aren't supported.
Fidelity provides a secure, beginner-friendly gateway into Bitcoin and Ethereum investing—but not much beyond that. For investors seeking broader access—especially those interested in XRP, altcoins, or blockchain functionality—platforms like Coinbase or Crypto.com offer more comprehensive solutions.
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