Fidelity customers learned about the ability to buy and sell bitcoins

Fidelity previously opened a client waiting list for new cryptocurrency services.
Investment giant Fidelity, which manages a portfolio of $4.5 trillion in assets, has reportedly started offering bitcoin buying and selling opportunities to a number of its clients.
Earlier this November, Fidelity opened a client waiting list for new cryptocurrency services, and it is believed that some of them have already received emails. The investment giant reports that the “waiting time is over” and that you should use your existing brokerage account with the organization to open and operate the new cryptocurrency accounts.
After opening a cryptocurrency account with Fidelity, the investment fund’s client is able to buy and sell bitcoin and Ethereum without paying a fee, but one should consider the presence of a 1% price spread on any transactions through the investment fund’s platform.
When starting to work with the new type of account, the client must answer a number of questions about themselves, and is also notified that “investing in, buying or selling digital assets presents many risks that one does not face if investing in, buying or selling products in other, more traditional asset classes.”
The client is also reminded that “digital assets are capable of being subject to high volatility, which can occur in a very short period of time.”
The fact that Fidelity was preparing to offer direct services to buy and sell cryptocurrencies was known to the U.S. Congress. One of the public reactions from Capitol Hill was email three senators who asked Fidelity to reconsider its decision on Nov. 21 because the move, they noted, opens up the possibility of investing in bitcoins to those who participate in the U.S. Future Retirement Savings Program.
According to the senators, the cryptocurrency sector has become particularly “volatile, volatile and chaotic.” Curiously, all three senators, Richard Durbin, Elizabeth Warren and Tina Smith, are from the Democratic Party, which nominated current U.S. President Joe Biden. The letter also suggested that “the recent collapse FTX crypto exchange has made it abundantly clear that the digital asset industry has serious problems.”

Leave a Comment