Fidelity, one of the major financial institutions, has made a new move that will affect various cryptocurrencies. The platform will offer full-scale trading service for BTC and ETH for individual investors. Here are the details…
Famous company took important steps for cryptocurrencies
cryptocoin.com As we have also reported, Fidelity, one of the leading financial institutions in the USA, announced that it will offer full-scale trading services for Bitcoin (BTC) and Ethereum (ETH) for individual investors, in an important move for the crypto sector. The company has been testing the situation and limited early access to a customer waiting list since last November, but this week it opened the service to all of its customers. The new service called “Fidelity Crypto” will be integrated into the company’s app and will allow millions of users to trade Bitcoin and Ethereum without any commission fees.
While a 1 percent difference will be added to the app price, the service remains a great opportunity for investors who want to join the cryptocurrency market without dealing with high transaction costs. Fidelity’s move to offer cryptocurrency trading services could be indicative of the growing acceptance and adoption of crypto assets in the mainstream financial industry. By allowing its clients to trade Bitcoin and Ethereum, Fidelity recognizes the importance of cryptocurrencies as an alternative asset class that can generate substantial returns for investors.
Other cryptocurrencies may be added in the future
According to Tom Jessop, president of Fidelity Digital Assets, “The decision to launch Fidelity Crypto is a natural extension of Fidelity’s longstanding commitment to democratizing access to information and investment opportunities.” He also added that the company’s goal is to make crypto assets “more accessible to investors.” Currently, only Bitcoin and Ethereum are available for trading on the platform, but Fidelity may add support for other cryptocurrencies in the future. However, an important point to remember is that withdrawals are not yet enabled on the platform.
To access Fidelity Crypto, new customers must create a Fidelity Brokerage account during the setup process. The service is available to both new and existing customers, but it’s worth noting that it’s not yet available in all states. Fidelity’s entry into the cryptocurrency market is seen as an important development that could help crypto assets go mainstream. With its reputation for reliability and regulation, the company is likely to attract many investors who were previously cautious about cryptocurrency trading due to concerns with these issues. As such, this move could aid the wider adoption of cryptocurrencies and increase their legitimacy as an asset class.
