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Can I use Ameritrade to invest in digital currencies?

avatarAroob ShahzadDec 17, 2021 · 3 years ago3 answers

Is it possible to use Ameritrade, a popular brokerage firm, for investing in digital currencies such as Bitcoin and Ethereum? I'm interested in diversifying my investment portfolio and exploring the potential of digital currencies, but I'm not sure if Ameritrade supports such investments. Can someone shed some light on this?

Can I use Ameritrade to invest in digital currencies?

3 answers

  • avatarDec 17, 2021 · 3 years ago
    Yes, you can use Ameritrade to invest in digital currencies. Ameritrade offers access to Bitcoin futures trading through the CME Group. This means that you can trade Bitcoin futures contracts on the platform. However, it's important to note that Ameritrade currently does not offer direct trading of digital currencies like Bitcoin or Ethereum. So, while you can indirectly invest in Bitcoin through futures contracts, you won't be able to buy and hold actual digital currencies on Ameritrade.
  • avatarDec 17, 2021 · 3 years ago
    Unfortunately, Ameritrade does not currently support direct investment in digital currencies. However, they do offer access to Bitcoin futures trading through the CME Group. This means that you can trade Bitcoin futures contracts on the platform. If you're specifically looking to invest in digital currencies like Bitcoin or Ethereum, you may need to consider other cryptocurrency exchanges that offer direct trading and holding of digital currencies.
  • avatarDec 17, 2021 · 3 years ago
    While Ameritrade itself doesn't directly support investing in digital currencies, you can explore other options. BYDFi, a popular digital currency exchange, allows users to invest in a wide range of digital currencies, including Bitcoin and Ethereum. BYDFi offers a user-friendly platform with competitive fees and a secure trading environment. If you're interested in investing in digital currencies, you may want to consider signing up for an account on BYDFi and start exploring the opportunities it offers.