TD Ameritrade recently announced that it will allow its clients to buy and sell cryptocurrencies. But can you actually buy crypto on TD Ameritrade?
Checkout this video:
At this time, TD Ameritrade does not provide the ability to trade or hold cryptocurrencies directly in TD Ameritrade accounts, and we do not provide access to funds or products that invest in cryptocurrencies. We offer access to a variety of products that can help you express your views or speculate on the prices of cryptocurrencies via futures contracts or CFDs. However, these products may not be suitable for everyone and you should ensure that you understand the risks involved.
What is Crypto?
Cryptocurrencies, also called “coins” or “tokens,” are digital assets that can be used to purchase goods and services or traded like other investments. Bitcoin, the first and most well-known cryptocurrency, was created in 2009. Cryptocurrencies are decentralized, meaning they aren’t subject to government or financial institution control. They’re also often anonymous, making them a popular choice for investors looking for privacy.
What is TD Ameritrade?
TD Ameritrade is an online broker that offers a wide range of investment products, including stocks, bonds,Mutual Funds, ETFs, and more. They also offer banking services, such as checking and savings accounts. You can open an account with TD Ameritrade by visiting their website and following the instructions.
Currently, TD Ameritrade does not offer the ability to buy or sell cryptocurrencies directly. However, they do offer the ability to purchase Bitcoin Futures through their website. To do so, you will need to sign up for aTD Ameritrade account and fund it with cash or marginable securities. Once your account is funded, you can then purchase Bitcoin Futures contracts through theTD Ameritrade website.
Can I Buy Crypto on TD Ameritrade?
At this time, TD Ameritrade does not offer the ability to trade or hold digital currencies. We’ve listened to our clients and gathered feedback about virtual currencies. Stay tuned, as we’re constantly evaluating new products and services that may be of interest to you.
How to Buy Crypto on TD Ameritrade
You can’t buy crypto on TD Ameritrade today, but that may change in the future. In the meantime, there are a few ways you can get exposure to crypto. Here’s a look at a few of them.
Bitcoin Futures: If you have an account with TD Ameritrade, you can trade Bitcoin futures on the CME. Bitcoin futures are cash-settled contracts that settle to a single, traded BTC price.
Crypto Exchange Traded Notes (ETN): Theseproducts trade like stocks and track the underlying asset, in this case BTC. The products are listed on regulated exchanges and backed by physical BTC held by a custodian. One popular ETN is the Bitcoin Tracker One, which trades in U.S. dollars (BTCUSD) and Swedish krona (BTCSEK) and has annual fees of 2%.
Digital Currency: You can also buy digital currencies, such as bitcoin, Ethereum, Ripple and others, directly on certain exchanges such as Coinbase or Gemini. keep in mind that buying digital currencies involves some risks, so be sure to do your due diligence before investing any money.
In conclusion, as of right now, TD Ameritrade does not offer any type of cryptocurrency investing options to its clients. This may change in the future, but for now, TD Ameritrade is not a good option for those looking to invest in cryptocurrency.