Fidelity Crypto: Pros, Cons and How it Compares
It's an easy entry point for Fidelity customers, but serious crypto enthusiasts might find the product lacking.The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Investors who already use Fidelity and want to gain some exposure to five cryptocurrencies — Bitcoin, Ethereum, Solana, Litecoin and FIDD℠ — will find Fidelity Crypto® to be a good choice. In 2025, Fidelity Crypto® gave users the ability to send and receive cryptocurrencies, too. This is a big improvement, making the platform more competitive with other traditional brokers that offer cryptocurrencies.
Pros
- Transparent, low fees
- Low minimums
- Crypto IRA available
Cons
- Small selection of coins
- Limited functionality
Crypto isn't for everyone — it's risky, volatile and can be hard to navigate. Fidelity's product has simplified the process, largely by starting investors with just a few crypto options.
Perhaps one of the most enticing aspects of Fidelity's crypto offering is that users can move cryptocurrency into and out of their other Fidelity accounts via the app. Previously, the inability to transfer assets was a major drag on Fidelity Crypto, but the product has come a long ways since it first debuted.
You'll have to set up your Fidelity account to enable this in-app transfer feature, which requires taking photos of both yourself and a form of identification. This may feel intrusive, but it's very common in the crypto world and part of KYC (Know Your Customer) regulations, so don't be alarmed.
Still, if you’re already an advanced crypto investor, chances are you’re not going to be interested in switching for these new offerings alone. While Fidelity’s low trading costs are competitive with some of the leading crypto exchanges, the selection and crypto functionality are not yet up to par with those crypto-focused platforms.
👀 See our list of the best crypto exchanges.
Our list includes both crypto-specific platforms and traditional brokers that now offer cryptocurrencies.
Why you might want to sign up
Here are a few factors to consider as you evaluate Fidelity's crypto offerings.
Crypto trading fees
Fidelity is offering customers what it describes as “commission-free” crypto trading. That doesn’t necessarily mean trading is free. The company says it takes a trading fee of up to 1% on crypto trades.
Still, that’s relatively good compared with other crypto services reviewed by NerdWallet. Coinbase, the largest U.S.-based exchange focused solely on crypto, has a confusing fee structure that can result in fees ranging from 2% to 4%, depending on the payment method.
Funding and minimums
Funding a Fidelity Crypto account could be easy if you already have a brokerage or cash management account with the company. You’ll be able to move money from Fidelity accounts into Fidelity Crypto.
There’s no minimum deposit to open a crypto trading account. And the minimum crypto purchase is $1. These factors put the company on even footing with most other leading exchanges.
If you don’t have a Fidelity account, making purchases will require you to create and fund an account such as a brokerage or cash management account.
Crypto IRA
Fidelity certainly stands out from the crowd for its crypto IRA. The only other platform we review with a comparable product is Crypto.com, but if we were to pit the two against each other, we'd take Fidelity's Crypto IRA any day.
Why? Fidelity is a U.S.-based, trusted leader in managing retirement assets. By bringing its experience in this space to the crypto arena, Fidelity has become an obvious choice for crypto retirement funds. (We'd like to note that entrusting your retirement to crypto's performance is a risky venture, but for those looking for such a strategy, Fidelity has you covered.)
Why you might want to use another exchange
Availability
While Fidelity has greatly expanded access to its crypto product, a few restrictions remain. For example, customers in Oregon can't buy, sell or deposit Solana. But a few state-level restrictions isn't uncommon in the world of crypto.
Crypto selection
Fidelity Crypto’s offerings are on the low end among cryptocurrency platforms reviewed by NerdWallet. Granted, Bitcoin and Ethereum are the two most valuable cryptocurrencies (and Litecoin is one of the original altcoins), which means they are widely used and relatively well-established in this emerging sector.
However, cryptocurrency traders often look at more options when they are buying and selling. Crypto.com and Kraken, two major cryptocurrency exchanges, have several hundred cryptocurrencies for sale. Other brokerages also have more crypto options. Interactive Brokers, for example, has 11.
Functionality
Fidelity Crypto does not offer some of the advanced features available on competing exchanges. It doesn't allow staking, a process that allows owners of some cryptocurrencies to earn rewards similar to interest. And while you can trade crypto 24/7, most trades will actually take place during a particular window.
Alternatives to consider
For crypto selection:
For advanced functionality:
 Kraken |  Crypto.com |
Learn moreon Kraken's website | Learn moreon Crypto.com's website |
Number of cryptocurrencies772 | Number of cryptocurrencies480 |
Account minimum$0 | Account minimum$0 |
The bottom line
Though Fidelity’s consumer crypto product isn't the most robust on the market, the firm’s brand name and track record may give some customers a level of comfort moving into an asset class like crypto. And the company has left the door open to expand its features and capabilities later on.
» Learn more: Read our review of Fidelity's brokerage.
Disclosures:
Offerings and account features are subject to account eligibility. Fidelity Crypto® is offered by Fidelity Digital Assets®. Investing involves risk, including risk of total loss. Crypto as an asset class is highly volatile, can become illiquid at any time, and is for investors with a high-risk tolerance. Crypto may also be more susceptible to market manipulation than securities. Crypto is not insured by the Federal Deposit Insurance Corporation, the Securities Investor Protection Corporation, or any other government agency, and is not an obligation of any bank. Investors in crypto do not benefit from the same regulatory protections applicable to registered securities. The Fidelity Digital DollarSM (FIDD) is a stablecoin valued at the redemption price ($1/unit). FIDD SM is issued by Fidelity Digital Assets, National Association(“FDA, NA”). Customers of FDA, NA can purchase and redeem FIDD for $1/unit from FDA, NA. Access to FIDD SM is subject to availability based on account eligibility. Learn more in FIDD’s Terms. Fidelity Crypto® accounts and custody and trading of crypto in such accounts are provided by Fidelity Digital Assets, National Association, which is a national trust bank. Brokerage services in support of securities trading are provided by Fidelity Brokerage Services LLC (“FBS”), and related custody services are provided by National Financial Services LLC (“NFS”), each a registered broker-dealer and member NYSE and SIPC. Neither FBS nor NFS offer crypto as a direct investment nor provide trading or custody services for such assets. Fidelity Crypto and Fidelity Digital Assets are registered service marks of FMR LLC.
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How do we review cryptocurrency platforms?
All NerdWallet reviews and lists of the best investing products are created by our editorial team of full-time writers and editors, independent of any business relationships. In this case, our investing team's comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent, balanced assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 10 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.