One of the investment initiatives that the crypto industry is well known for. Fidelity Investmentsannounced a commission-free crypto trading service for small and medium-sized investors.
Directing nearly $10 billion in investment, Fidelity is for crypto investors. “Fidelity Crypto” announced its service on its website.
Small and mid-level investors with the Fidelity Crypto service bitcoin and Ethereum will be able to make their investments more easily and without paying commissions. Fidelity has announced that it will not charge commissions per transaction from investors. The minimum amount traders must deposit to access Fidelity Crypto is just $1.
The executives of the billion-dollar financial institution made the following statement about the new crypto service:
“Where our customers and all people invest is now much more important. We knew that many of our current customers were also interested in cryptocurrencies. Fidelity will continue to provide better education, research and investment opportunities to our crypto investors.”
Investors using the Fidelity Crypto service will pay a tax-like service fee of around 1% to the brokerage house, even if they are exempt from transaction commissions.
New Fashion: Commission-Free Crypto Transactions
Fidelity is not the first company to offer a commission-free crypto trading service. US-based cryptocurrency exchange Binance.US and another brokerage firm Robinhoodannounced in the past that it will not receive transaction commissions from investors. Competition among brokerage firms providing crypto services continues to increase.
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