Fidelity Crypto Falls Short Despite Competitive Fees

Fidelity's crypto product has made significant strides since its debut, but it still lags behind competitors in terms of selection and functionality.

The platform offers transparent, low-fee trading with a commission-free model that takes a trading fee of up to 1% on crypto trades. This is relatively competitive compared to other exchanges like Coinbase, which has a confusing fee structure that can result in fees ranging from 2% to 4%.

Fidelity's product also allows for easy transfer of funds between its brokerage and cash management accounts, with no minimum deposit required to open a crypto trading account. The minimum crypto purchase is $1.

One notable aspect of Fidelity's crypto offering is the availability of a Crypto IRA, which sets it apart from other platforms like Crypto.com. However, the selection of cryptocurrencies available on Fidelity is limited, with only Bitcoin, Ethereum, and Litecoin currently offered.