Sending cash or crypto

The send/receive feature allows a Fidelity Crypto^® customer to send cash or crypto to another Fidelity Crypto^® customer, using an ID instead of a wallet address. Both the sender and receiver must have enabled their accounts and set up profiles with IDs. Sending crypto with this feature doesn’t rely on blockchain confirmations, so there’s no network fee or additional delay.

Fidelity Crypto^® customers with individual accounts can enable sending and receiving cash or crypto directly with other Fidelity Crypto^® customers. This feature currently isn’t available for joint accounts, Fidelity Crypto® IRAs, or customers in Mississippi, Nebraska, New Jersey, Tennessee, or Vermont. This process is separate from enabling crypto deposits and withdrawals.

To enable sending cash or crypto between Fidelity Crypto^® accounts, you’ll validate your identity by scanning your driver's license, passport, or other form of government ID and then taking a photo of yourself for image comparison. Finally, you’ll set up an authenticator app. This process is separate from enabling crypto deposits and withdrawals.

When you enable sending cash and crypto, your ID will be generated systematically and provided to you at the end of the process.

You can send cash or crypto to Fidelity Crypto^® customers if both you and the receiver have enabled the send/receive feature and created IDs. You’ll need to know the receiving customer’s ID.

You can receive cash or crypto from Fidelity Crypto^® customers if both you and the sender have enabled the send/receive feature and created IDs. The sender would need to know your ID. When enabling your profile, you will select the Fidelity Crypto^® account to receive cash and crypto (if you have multiple accounts). You will receive a transaction notification when you receive cash or crypto.

If you receive cash or crypto from a sender you don’t recognize, don’t attempt to send anything back. If you have concerns, you can chat or call customer service at 800-353-3548 and request “help with a crypto account issue.”

You can send these cryptocurrencies directly to other Fidelity Crypto® customers (subject to availability for your state and the recipient’s state):

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Solana (SOL)

Cost basis information won’t automatically appear for crypto you receive directly from another Fidelity Crypto^® customer. When you receive crypto, you’ll need to update the cost basis information. Check with your tax professional to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

Fidelity Digital Assets^® currently doesn’t report tax records for sending cash or crypto directly to another Fidelity Crypto^® customer. Check with your tax professional to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

You can send cash and crypto up to a total value of $2,000 each day between enabled Fidelity Crypto^® accounts. This daily total applies across any number of accounts. Fidelity Digital Assets^® calculates the available amount for each of your cryptocurrencies, accounting for recent funding activity and other balances and obligations.

You can’t specify which tax lots to send from your Fidelity Crypto^® account directly to another Fidelity Crypto^® customer. Tax lots are disposed according to the first-in-first-out (FIFO) method. Check with your tax professional to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

Cost basis information isn’t transmitted with crypto you withdraw to an external wallet or send directly to another Fidelity Crypto^® customer. Details of crypto purchases can be found in account statements or order history. Check with your tax professional to determine how crypto transactions could affect your taxes. Fidelity does not provide legal or tax advice.

Depositing crypto to your Fidelity Crypto® account from external wallets requires a deposit address, confirmation on the blockchain, and a network fee charged to the sender. Receiving crypto directly from other Fidelity Crypto® customers uses your ID, can be quicker than blockchain confirmation, and doesn’t incur a fee.

Withdrawing crypto from your Fidelity Crypto^® account to external wallets requires a withdrawal address, confirmation on the blockchain, and a network fee. Sending crypto directly to other Fidelity Crypto^® customers uses an ID, can be quicker than blockchain confirmation, and doesn’t incur a fee.

You can’t retrieve cash or crypto you send directly. Send/receive transactions can’t be canceled or reversed after submitting. Always be sure the amount and the receiver’s ID are correct before sending. Contact customer service at 800-343-3548 for any concerns about unauthorized transactions.

If you want to opt out after enabling the send/receive feature, call customer service at 800-343-3548 and request “help with a crypto account issue.” If you want to block sending cash or crypto from an enabled account, you can activate a money transfer lock which can be deactivated if you want to use the feature.