Charles Schwab announced tonight, Beijing time, that Schwab Crypto accounts are now available to all eligible retail investors. Customers of the longtime U.S. brokerage can now buy and sell $BTC and Ethereum directly.
Bitcoin is the native currency of the first blockchain. Its supply is fixed, and many people hold it as digital gold.
The service links a crypto account to your existing brokerage account, so you can view stocks, ETFs, and crypto on the same screen, and place orders through trading platforms like thinkorswim.
The fee is 0.75% of the transaction amount. Schwab says it does not add a markup to the spread.
The service was rolled out in stages to some customers over the past few months. This is the full launch. Schwab also says it plans to add Solana, Avalanche, and Chainlink later.
The difference is that many people already hold stocks at Schwab. Now they don't need to open a separate exchange account—the crypto appears directly in the same account.
Note that the crypto is provided by a bank affiliated with Schwab. The disclosures make it clear that crypto is not a deposit and does not have the protections that apply to securities accounts.
Bitcoin is the native currency of the first blockchain. Its supply is fixed, and many people hold it as digital gold.
The service links a crypto account to your existing brokerage account, so you can view stocks, ETFs, and crypto on the same screen, and place orders through trading platforms like thinkorswim.
The fee is 0.75% of the transaction amount. Schwab says it does not add a markup to the spread.
The service was rolled out in stages to some customers over the past few months. This is the full launch. Schwab also says it plans to add Solana, Avalanche, and Chainlink later.
The difference is that many people already hold stocks at Schwab. Now they don't need to open a separate exchange account—the crypto appears directly in the same account.
Note that the crypto is provided by a bank affiliated with Schwab. The disclosures make it clear that crypto is not a deposit and does not have the protections that apply to securities accounts.