Fidelity Weighs Bitcoin Trading on Brokerage Platform

RedDuke · Sep 13, 2022

frnw said:
The question is: Can you buy real BTC or just CFD?

Of course I can buy spot BTC. In fact I did for fun small amount to store in cold storage - Ledger Nano. With all recent crypto seizures like Voyager, Celsius and etc I would rather keep my crypto in my own hands and make sure not to loose stick. Granted the only serious money I have in Ether, and even there little for now. Waiting for a big crash to happen to load up, if it ever comes of course.

frnw · Sep 13, 2022

RedDuke said:
If course I can buy spot BTC. In fact I did for fun small amount to store in cold storage - Ledger Nano. With all recent crypto seizures like Voyager, Celsius and etc I would rather keep my crypto in my own hands and make sure not to loose stick. Granted the only serious money I have in Ether, and even there little for now. Waiting for a big crash to happen to load up, if it ever comes of course.

Yes, for sure that is a much better way. My point was for Fidelity if you buy BTC there you don't own it.

RedDuke · Sep 13, 2022

frnw said:
Yes, for sure that is a much better way. My point was for Fidelity if you buy BTC there you don't own it.

What do you mean? I assume if I buy it there, I can transfer it anywhere I want including my own cold storage.

johnarb · Sep 13, 2022

RedDuke said:
What do you mean? I assume if I buy it there, I can transfer it anywhere I want including my own cold storage.

It's possible that in the beginning, Fidelity will not allow deposits and withdrawals of crypto assets similar to how Robinhood and PayPal

But we don't know until Fidelity releases the details

RedDuke · Sep 13, 2022

johnarb said:
It's possible that in the beginning, Fidelity will not allow deposits and withdrawals of crypto assets similar to how Robinhood and PayPal

But we don't know until Fidelity releases the details

Quite possible, and I guess many would trust Fidelity not to steal like like Voyager and Celsius scums. Still do not see it as a huge deal.

johnarb · Sep 13, 2022

RedDuke said:
Quite possible, and I guess many would trust Fidelity not to steal like like Voyager and Celsius scums. Still do not see it as a huge deal.

It's prolly nothing, but it's all about adoption

Not everyone is tech-savvy as you. Fidelity just opened up Bitcoin to 34M customers

JP Morgan, Morgan Stanley, Goldman Sachs and Blackrock opened up Bitcoin to high net worth people who will not be going to those 100's of places you buy your crypto assets from

But yea, ti's prolly nothing, right?

frnw · Sep 13, 2022

RedDuke said:
What do you mean? I assume if I buy it there, I can transfer it anywhere I want including my own cold storage.

That's the bigger question. I don't know will be possible or not.

NoahA · Sep 13, 2022

RedDuke said:
Waiting for a big crash to happen to load up, if it ever comes of course.

Imagine how many are in this boat. John already said he will accumulate heavily under 5k. I'm waiting on adding as well and might start adding at 15k if it ever gets. But given that whale accumulating billions already that John points out, and so many of us just here at ET waiting to load up, can it really go that low?

I have a hunch that at some point, when shit in the markets hits the fan, we see a decoupling from Bitcoin tracking NQ and it's off to the races. Then when enough people figure out they need to hold their own keys, who knows what this will do to the demand. Instead of a short squeeze, I wanna see a "move it to cold storage" freeze.

RedDuke · Sep 13, 2022

NoahA said:
Imagine how many are in this boat. John already said he will accumulate heavily under 5k. I'm waiting on adding as well and might start adding at 15k if it ever gets. But given that whale accumulating billions already that John points out, and so many of us just here at ET waiting to load up, can it really go that low?

I have a hunch that at some point, when shit in the markets hits the fan, we see a decoupling from Bitcoin tracking NQ and it's off to the races. Then when enough people figure out they need to hold their own keys, who knows what this will do to the demand. Instead of a short squeeze, I wanna see a "move it to cold storage" freeze.

We need a catalyst for the crash. Tether bust would be such one for sure. If it does not happen so be it. I plan to start BTC accumulation around 10K. We have no idea who will be forced to liquidate if BTC breaks 15k, 10K and etc.

Once thing for sure if BTC falls this low, it might be last chance to load up at these levels and I will not miss it this time around.

NoahA · Sep 13, 2022

RedDuke said:
We need a catalyst for the crash. Tether bust would be such one for sure. If it does not happen so be it. I plan to start BTC accumulation around 10K. We have no idea who will be forced to liquidate if BTC breaks 15k, 10K and etc.

Once thing for sure if BTC falls this low, it might be last chance to load up at these levels and I will not miss it this time around.

Agree... But Fomo tells me we don't hit 10k. I could almost have a whole coin!