Fidelity Opens up Bitcoin Custody Service (Patreon)

This is something I am considering. As I get older Cold Storage makes me nervous.

I have been waitinf for this for years and knew they were planning it. Well here it is. https://www.fidelity.com/crypto/help/deposits-withdrawals/depositing-crypto

Why I believe Putting Your Bitcoin with Fidelity is a Smart Move

1. Top-Level Security
Fidelity keeps your Bitcoin in super secure “cold storage,” meaning it’s stored offline and protected by multiple layers of physical and digital security. Even the keys to access your Bitcoin are split up and managed by different teams in different locations. This makes it much harder for hackers to break in compared to many regular crypto exchanges. Way better than I can do myself. You do need to request your own custom address from the team.

2. Government Oversight
Fidelity’s crypto services are officially licensed and closely monitored by New York financial regulators. This means they follow strict rules to prevent fraud and money laundering — unlike many unregulated crypto platforms.

3. Smart Storage System
Fidelity uses a method where everyone’s assets are held together but tracked separately. It’s a common system in traditional finance that makes managing and trading Bitcoin smoother and more efficient, while keeping clear records of who owns what.

4. A Trusted Name in Finance
Fidelity has been around for decades and started working with crypto back in 2014. They have experience, credibility, and a strong reputation — something many newer crypto companies don’t have.

5. Easy to Use
You can buy and manage Bitcoin (and also Ethereum and Litecoin) right inside Fidelity’s regular investment app — the same one used for stocks. It’s simple to manage everything in one place.

6. Low Barrier to Start
You can begin trading with as little as $1. I will test with a small amt. There’s no minimum deposit to open an account, and fees are low to buy and sell but as far as I know there is no charge to deposit — they just charge a small price spread (up to 1%). Also they do not rehypothecate.

7. Other Tax-Friendly Options
Fidelity offers crypto retirement accounts (like Traditional or Roth IRAs), so you can invest in Bitcoin with potential tax benefits — a big plus for long-term investors.

8. Regular Audits
Fidelity’s crypto custody services are regularly reviewed by one of the “Big Four” accounting firms. These audits make sure everything is run properly and transparently.