Fidelity Crypto Investment goes LIVE
Fidelity Crypto Investment goes LIVE
There is a saying in Crypto and that is those who build in the winter profit in the summer so it's not entirely surprising to see many crypto projects building or launching. For some projects the market peaks and dips are less impactful on what you're offering and this month a new exchange or trading platform has launched to provide another way to invest in crypto.
Fidelity Investments a long standing multinational company established in 1946 is one of the largest firms with an whopping $US4.5 Trillion of managed funds. Their funds under administration ballooned in 2021 topping $US11 Trillion dollars and most recently they have made the decision to move into providing Digital Assets.
Limited Investment Opportunities
Fidelity Investment won't be offering exposure to all crypto currencies as yet and will only be offering investors market access to Bitcoin and Ethereum and the company has put this down the the fact that Bitcoin and Ethereum are the two largest marketcap digital assets and strong market backing.
This can be evidenced by data provided by coinmarketcap which indicates despite the broader crypto market dropping below $US1 Trillion these past few months, a large portion of the remaining funds are retained within Bitcoin and Ethereum markets.
Crypto culture joins multinationals
The interesting aspect of this company is that they are doing something a little different in comparison with other corporates and multinationals that have joined the sector to provide access to digital markets.
One thing that people in the sector are used to is access to projects Discord channels and Reddit discussion groups as these two alternative social media and chat forums have been instrumental in driving the crypto sub-culture.
Well Fidelity have launched their own Reddit and Discord to enable people already used to this form of communication to quickly switch across or bring new investors into the Crypto Sub-culture.
Minimum buy in
Here is where things really get kicking with the investment firm lowering minimum buy ins to as little as $1 worth of Ethereum and Bitcoin and the removal of trading fees only charging a maximum of 1% spread which will give it the upper hand amongst other platforms.
This decision to lower investment and reduce trading fees is an interesting position and one they have most likely put a lot of research and investigation into as if we look across how much money people are investing we're seeing a lot of micro transactions.
Although micro transactions aren't big money makers the volume being traded on a daily basis indicates that they are massive amounts of consolidated funds and if Fidelity can capture that part of the market than they will make some significant gains in trades.
How to join and limitations
To register for an early access account one can do so by visiting fidelity Crypto and creating an account to get you on the early access list. Unfortunately the platform at this stage won't allow you to transfer Bitcoin or Ethereum in and out of your account but the company is looking at further developing their services and adding new features.
You will however, have access to other traditional financial markets also which will be shown in your account portfolio if you have purchased through their investment company. This provides access to not only the digital asset world but also traditional financial markets.
Thank you for stopping by and following my account. Don't forget to upvote, reblog and comment to let me know what you thought about today's story.
Image sources provided supplemented by Canva Pro subscription this is not financial advice and readers are advised to undertake their own research or seek professional financial services.
Posted Using LeoFinance Beta
https://twitter.com/1291387911238086664/status/1597766471618560000
The rewards earned on this comment will go directly to the people( @melbourneswest ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
This post has been manually curated by @bhattg from Indiaunited community. Join us on our Discord Server.
Do you know that you can earn a passive income by delegating your Leo power to @india-leo account? We share 100 % of the curation rewards with the delegators.
Please contribute to the community by upvoting this comment and posts made by @indiaunited.
Remember to use the 'leoalpha' tag so content like this one populates the LeoAlpha community page!
Posted Using LeoFinance Beta
Oh bugger I missed that. Sincerest apologies I will use it going forward. Thank you
Congratulations @melbourneswest! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s)
Your next target is to reach 220000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOP
Check out the last post from @hivebuzz:
I think this is pretty good news and it will make things competitive. In a way, I also think it's way safer than one of those normal crypto exchanges because they are used to dealing with tons of money and they won't be using it like FTX.
Posted Using LeoFinance Beta
I think that's the market they're trying to pick up. And given they are registered I rekon they will only trade the tokens they have and maybe even insurance is on the cards. I can't wait to learn more.
This is really an innovative idea from Fidelity. Providing a minimum buy in at $1 with a 1% spread will make it easy and possible for retail investors to dip their toes in crypto.
I think moving with the trends is a good idea. Them having a Reddit and Discord channel will help them reach a wider audience, especially the young generation.
It's definitely a lot cheaper than a lot of centralised exchanges at current so will definitely pick up some clients along the way
Congratulations @melbourneswest! You received a personal badge!
Wait until the end of Power Up Day to find out the size of your Power-Bee.
May the Hive Power be with you!
You can view your badges on your board and compare yourself to others in the Ranking
Check out the last post from @hivebuzz: