Fidelity also called Fidelity Investments is a financial industry founded in 1946(76 years ago) by Edward C. Johnson II. Fidelity Investments is headquartered in Boston, Massachusetts, the United States of America with branches in all parts of the world. According to research, Fidelity Investments manages assets of about $11.8 trillion worth. This makes the industry one of the largest managers of assets in the world, this means many people in the world use fidelity investment services. Fidelity Investments accepts different currencies, but do they accept bitcoin? Well, keep following. In this article, we will see about ‘Does Fidelity Accept Bitcoin?’.
Does Fidelity Accept Bitcoin?
Bitcoin the world’s largest cryptocurrency has been in use ever since its launch in 2009. Because of its increase in worth and other profitable reasons, bitcoin is been accepted by many business organizations in the world. Fidelity has an electronic platform for trading, annuities funds IRAs, and also an insurance platform. Though Fidelity is one of the world’s oldest and strongest industries, it still desired more success. This made them move into the digital world and they launched their digital asset. Fidelity Digital Assets was launched in October 2018 and it was made to attend to customers making them invest in the cryptocurrency environment. We will continue with more details below
Why did Fidelity Investments Start Using Bitcoin?
There is a reason behind every step taken. Below are the reasons why fidelity accepted bitcoin
• Bitcoin’s rise in worth.
• Investors’ interest in bitcoin.
1. Bitcoin’s Rise In Worth
Bitcoin has been increasing gradually ever since its launch. When bitcoin was launched, it was not up to $0.1 but by the end of 2010, it rose to $0.39, in 2011 it broke to $2, in 2012 it rose to $14, it rose to $530 in 2013, in 2014, 2015, 2016 it was fluctuating until it rose to $19,000 in 2017.
Considering this rise, Fidelity Investments decided to add bitcoin to their investment policy. This will lead us to the second reason.
2. Investors’ Interest in Bitcoin
Over the years after Bitcoin was launched, many people seeing it rise in worth started developing interest in it, and many businesses started utilizing it. Fidelity Investments also utilized this opportunity after noticing that the majority of its investors developed an interest in it. This step helped them in keeping and gaining more customers, and it also helped them in gaining more income.
Does Fidelity Sell Bitcoin?
Fidelity doesn’t sell bitcoin or any other cryptocurrency, nor do they have a bitcoin fund instead fidelity has an exchange-traded fund that opens users to the blockchain and digital currency world.
How it works is that when users invest in the Fidelity exchange-traded fund, Fidelity uses the money to buy bitcoin and stores them in cold storage.
Fidelity does not have bitcoin instead, but Fidelity has products that expose users to the cryptocurrency world.
You might want to invest in cryptocurrency using Fidelity but actually, it is very risky and also advantageous. It is risky in the sense that cryptocurrencies rise and fall, you might not know when they will fall.
Why You Should Use Fidelity Investment?
• Fidelity was ranked the world’s best online broker by NerdWallet, Kiplingets, and StockBrokers.
• Fidelity is a well-protected platform with three advanced layers of identity protection.
• Fidelity has the highest rate of cash back for everyday purchases.
• With Fidelity, there are more choices in investing.
Conclusion
Fidelity also called Fidelity investment is one of the oldest industries in the world today with branches all over the World. As the industry grows, so also their ideas are growing and as a result of the growth, the industry has become of the largest managers of assets in the world with over $10 trillion asset worth. Fidelity has an electronic platform for trading, annuities funds IRAs, and also an insurance platform.
Fidelity accepts bitcoin but why, because they desire more success they also saw their users’ interest in bitcoin.
Fidelity does not sell bitcoin but they have an exchange-traded fund.
If you are looking for an investment company with more returns, then fidelity is here for you.
Frequently Asked Questions
1) Who is the CEO of Fidelity Investments?
Abigail Johnson is the CEO of Fidelity Investments.
2) What is Cryptocurrency?
Cryptocurrency is a digital currency that functions as a means of exchange through a computer system not depending on any centralized authority.
3) What is the present worth of bitcoin?
As of June 16, 2022 bitcoin is $21,7740.20
4) Are there other cryptocurrencies?
Yes, there are other cryptocurrencies and others are yet to be launched. Below are other cryptocurrencies:
√ Etherium
√ XRP
√ Cardano
√ Litecoin
√ Tether
√ Dogecoin
√ Binance Coin
√ Bitcoin Cash
√ Monero
And several more.
5) How can I get started with Fidelity?
• Visit www.fidelity.com
• Accept the user agreement
• Select “get started”
• Choose the account type you want to open.
