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Fidelity officially enters the retail cryptocurrency market

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(Image: Reuters/Brian Snyder/File Photo)

THE Fidelity Investments, manager with more than US$ 9.9 billion in custody, announced this Monday (28) to its clients that it is officially trading cryptocurrencies for the retail market. The company had already opened a waiting list earlier this month, and now officially opens its account to retailers.

As reported by The Block, Fidelity sent out the news via email to those on the aforementioned waiting list. “The wait is over”.

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as already previously reported by Crypto Timesit is necessary to add a Fidelity brokerage account to fund a new “Fidelity Crypto” account. Fidelity Investments opened the early access waiting list for users on the morning of November 3rd.

The service, called Fidelity Crypto, will allow investors to trade cryptocurrenciesinitially Bitcoin (BTC) and Ether (ETH) and use custody and trading services provided by its subsidiary Fidelity Digital Assets.

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Once opened, the account promises commission-free trading of Bitcoin (BTC) and Ether (ETH).

Among the terms that users need to read and accept before opening their account, it is itemized that “investing, buying and selling digital assets presents a variety of risks that are not presented when investing, buying and selling products in other more traditional asset classes .”

In addition to warning of the existence of several risks involving cryptoassets, Fidelity states that “digital assets can fluctuate quickly and materially”. The service says that a 1% spread will be accounted for on each trade execution price.

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Source: Moneytimes

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