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JIM ARMSTRONG: All right, so you have opened and funded your Fidelity Crypto account. You’re now at the place where you’re probably anxious to make that first trade. Got a couple of questions that came in to the livestream from registrants who have this exact same concern.
Mehran wants to know, “How can I buy bitcoin through Fidelity?” Randy wants to know, “How do I trade crypto at Fidelity?” And Karen says, hey, I’m just new to crypto. I want to know how to trade. So it doesn’t have to be bitcoin, Dan. There’s other options. You’re going to walk us through it all right now.
DAN CHODOS: I am. And we’re going to start in a familiar place. So our Portfolio Summary page. Again, this is our test account with some preloaded information. And you’ll see your list of accounts. But today, we’re looking to engage in trading of cryptocurrencies. So I’m going to come over to my cryptocurrency, Fidelity Crypto account.
And again, you’ll see the watermark. It’s going to be prevalent throughout the experience. That’s to know that you are in the Fidelity Crypto account. But I’ve clicked there. You’ll see some different information. If you’d like to see your positions or activity, balances, you can go ahead and click that. But we are looking and interested in doing trading.
So there’s a couple of different entry points. You can go in through this Trade up top. But actually, my favorite place to come through here is this tradable coins list. So “Tradable coins,” you’ll see we offer bitcoin, ethereum, and litecoin. You’ll see just some brief information about it, the last price and the change.
But if I come in here and I click “Bitcoin,” this is where I’m going to get a lot more information. I’m going to see recent news about it, detailed quote information, charts, positions that I may have, different changes, what’s going on in the market today. And I can also see some advanced charting options and other items.
If I didn’t want to choose bitcoin today, if I wanted to choose another coin, they’re typically found by the symbols. So I can click and type “ETH” here, and this is going to bring in the ethereum chart. I can, again, see the same items.
But I’m looking here to buy, so I’m going to go ahead and click “Buy.” And this is going to open up this single trade ticket. So everything that you need to do for buying is all going to be encapsulated here, and you don’t lose what’s going on behind you with the other information as well.
And you’re seeing here, you’re looking to trade crypto from this account as well as the symbol. And again, if, let’s say, instead, you didn’t want to do ethereum, but you did want to do bitcoin, you can go ahead and change that right within the trade ticket. So we’ll talk about selling a little bit.
But today, right now, we’re going to talk about buy. And then you have two different options for buying. You have a buy in a dollar amount, or you have a buy in a coin amount. And you can see up here, for “Available to trade,” we do have $45.15 worth of US dollars in order to buy and sell.
And so, I may want to just buy $10 worth. That’s one option that I can do. Or I can also choose, if I was so inclined to buy a coin, and maybe I wanted to buy, if I was feeling lucky enough and had the funds to do so, I might want to buy 0.5 bitcoin.
But not all of us are able to do that. So why don’t we go ahead and do dollar amount buy? So I’m going to go ahead and keep that at a $10 buy. And here now I have two options. I have a market order buy and a limit order buy.
So a market order buy, that is the buying at the current market price. A limit order, I’ll get to in just a moment. It’s about setting a price. But why don’t we go ahead and we’ll look and do a market order buy of bitcoin in $10 increments?
So I’ve selected all of my options here—Buying, $10. I already own $13, so at the end of it, I’ll own $23 and change. And I’m doing a market order. I will click “Preview.” And here is all of that information that I have. So I want to go ahead and execute this.
If you’d like to learn more about the Fidelity Crypto fee and other disclosures, you can click this link, and that will provide you some additional information that is kept up to date on the current fee and disclosures related to trading.
But if I wanted to do that, I would go ahead and hit “Place my order.” And let’s go ahead and do that. Order received, and we are set. We’ve bought our $10 in bitcoin. Now, I mentioned that was a market order. Let’s also go ahead and talk about limit orders. So again, I did bitcoin. Let’s change it up. We’ll look at ethereum. I’m going to choose “Buy.”
But instead of saying a market order, what I’d actually like to do is a limit order. And so what is a limit order?
The limit order is saying that I’d like to buy this ether token. But instead of it being at the current market price, which right now is $4,519, I actually only want to spend and only buy the $10 worth if the price approaches $4,400.
So I’m still going to buy the same amount. However, I will only buy the amount if it reaches the $4,400. Now, the difference between market and limit is that when I click “Market” and I buy, I’m going to execute at that market. This limit may or may not be achieved.
And so if it is achieved, the order will execute. But if it’s not, we’ll go ahead and click here and preview the order. You’ll see that that order will stay active until 11:59 tonight. And so if ethereum does not go to $4,400, that will cancel out and no buy will occur.
But if we’d like, we can go ahead and place the order. Again, if you need information on the fee and disclosures, you can click that. And here we go. This is now order in. It will wait for execution until that limit price is reached. And if not, it will cancel. And that, Jim, is how you buy crypto on the desktop.
JIM: All right, that was how to buy on Fidelity.com, on desktop. Can you walk us through how to sell but on mobile? Mix it up a little bit.
DAN: Oh, yeah, sure. That sounds good. All right, so we are back at our [Portfolio Summary] page here on mobile. And, again, your friendly reminder, please grab the latest software version from your friendly Google Play® store or the App Store®.
But we’re going to come in here, click the Fidelity Crypto account, and you’ll see the watermark again, letting you know that you are in this Fidelity Crypto experience. Here you’ll see the account value, what I have available to trade. But what I’m actually looking for here is my tradable coins.
So we showed this on desktop a bit earlier. It’s the same thing here on mobile. So you’re going to see the coin, the current price. And if I click on that current price, it’s going to bring me into the chart, detailed quote, and I get to learn a lot more about what’s going on. If I wanted to do additional research, if I wanted to understand my position within that, I would be able to do so all right from here.
But, Jim, you’re looking to complete a sale, so why don’t we go ahead and do that? So we’re going to go in and click “Trade.” And here, you have your clear options, so you can do a sell or a buy. So we’re going to click “Sell.” And this, if you did click “Sell” and you wanted to buy, again, able to toggle one way or the other, you’re going to stay in that same experience.
But you’re going to see, we are in the ethereum token. If you wanted to change that and you wanted to do a different token, you could switch right within that, and stay all on the same page. So we can do bitcoin, and we are going to do a sell.
Similar to desktop, if you wanted to do a sell in dollars, you can. If you wanted to do a sell in quantity, you can also do that. So here, I’m going to go ahead and choose that I want to do a sell. You’ll see, here’s the current amount of satoshis that I do have. But if I wanted to do a $10 amount, I can put that in here.
And just like in the desktop version, you have a choice. If you wanted to do a market order or a limit order. Also, if you are looking for some additional insight, you can choose this. It’ll give you a little bit more information about those order types. I’m going to go ahead and just preload here a dollar order, a $10 order at market, so you can see that.
But I’m looking to sell $10 worth of bitcoin. I own $22 currently worth of bitcoin. So this is what I’d sell, and this is the estimated price. Again, the fee and risk disclosures are here. So if you want to click here and see the latest, you can go ahead and do that.
But if you were to click “Sell,” that would go ahead and complete the order. And we’ll go ahead and do that. And so you can see that we’ve sold it, notification to tell us of the sell confirmation and what we’ve done.
I’m going to now do a sell. But as I’ve mentioned, I’m actually going to look at the limit order. So let me come in here to ethereum to trade and to sell.
So in limit on mobile, we have a nice functionality. It’s this limit chart. So if I choose limit—and again, limit is—currently ethereum is trading at $4,502. If I didn’t want to sell it at $4,500, but I actually wanted it to be a little bit higher, I might look at a limit order.
And here in the limit chart, if I choose that, you’re going to see the current order, you’re going to see some activity over the last 24 hours, last week, month. And I can just choose to drag this hamburger icon and say, I might want it to be 2% higher. And that would allow me to see what that looks like. That’s this top of this item here. Maybe I think it’s going to get back up to the top of the chart over here.
And so that’s closer to $4,700. And so this is allowing me to just visualize what that limit means.
But I’m in here. Let me click “Sell.” And then, if I’d like to set my limit price, I’m going to go ahead and do that. Let’s be—here. And I’d like to do $10 worth. Again, you’ll see what you own. We’ll click “Preview.” And here we are. We are setting a limit to sell $10 worth of ETH at $4,700 or higher.
So again, if it does move quick and goes above that, it would fill it at the higher number. And then, you’ll see your other items, currently, what you own, as well as the estimated ETH. That is here, ready to go, so we’re going to go ahead and click “Sell ETH.” And this, just like desktop, you’re going to see. So the order is in. It will only execute at the time that we reach that.
Otherwise, it will cancel today at 11:59 if it doesn’t. And that’s how you sell on mobile.
JIM: And for everyone watching, please remember, continue your crypto learning journey on Fidelity.com/Crypto. It’s a tremendous resource for you here. If you’re going to bookmark one website as a result of this livestream, it probably should be Fidelity.com/Crypto.
