Fidelity rolling out coin transfers to/from wallets!
I’m pretty excited about this. Fidelity is another entire world compared to Coinbase. Myself and buddies were having issues wiring large amounts to Coinbase and couldn’t even get someone on the phone. Fidelity has 24/7 customer service to help with whatever.
It’s in its infancy but they’re rolling out the withdrawal capabilities to some people gradually and should be done in the next few months. Digital assets team said they would expect my request for it. For now you can only transfer $25k worth of coins to a wallet per day. 1% spread for buy/sell
Of course anyone can just buy the ETF, in any brokerage account, with no spread but if we want BTC to fully succeed people are going to need to be able to pay for things with it.
Half the population of the US either has a Fidelity account or has a family member that has a Fidelity account so this is a big deal. The people in the subreddit probably have no problem with technology, but the vast majority of wealthy people would feel uncomfortable transferring several million dollars into their coinbase account, a company that doesn’t even have human customer service. The chat was okay but not enough to give me or my buddy peace of mind. He wired in $1MM and they froze his account despite being a long time acct holder. A week later it’s still frozen. They rejected my wire and made me jump through a bunch of hoops to end up saying I had to let several days pass before trying again.
Anyway my intention was to share the good news about Fidelity.
