Summary: E-Trade does not currently support cryptocurrency investing through their online brokerage platform. This means you cannot buy Bitcoin, Ethereum and other tokens and hold them in an ETRADE crypto wallet.
If you want to use a multi-asset broker that offers 200+ cryptocurrencies and hundreds of stocks, ETFs and other assets - we recommend Uphold. They are one of the most popular FinCEN-regulated exchanges in the USA that offer fast and cheap USD deposits via ACH Transfer, Debit Card or Credit Card.
- Trade 220+ Cryptos with Fast & Cheap USD Deposits from any US Bank.
- Regulated and Licensed by FinCEN and has audited Proof-of-Reserves for customer funds.
- Offers multiple asset classes including Crypto (and crypto staking), Stocks, ETFs, Metals and more.
Can you buy Crypto on E-Trade?
The E-Trade platform currently does not provide any options for customers to purchase or sell actual cryptocurrencies. This is due to the Etrade App lacking support for crypto wallets and the required infrastructure to facilitate trading of on-chain assets, such as Bitcoin, Ethereum, Solana, Avalanche, and others.
To gain investment exposure to crypto on E-Trade, users can invest in crypto-related stocks like Coinbase or Microstrategy. Alternatively, they can invest in a Bitcoin or Ethereum ETF, such as the Grayscale Bitcoin Trust (GBTC) or the Grayscale Ethereum Trust (ETHE).
How to Buy Crypto with an E-Trade Alternative
The easiest and safest way to buy Cryptocurrencies, Stocks, ETFs, and more all in one platform in the United States is through Uphold US. Their platform offers over 200 cryptocurrencies and hundreds of other assets in a wide variety of markets. With Uphold, you can also stake over 30 coins & stablecoins to earn up to 25% interest paid out daily.
You can get started with this simple guide:
- Sign Up: Create an account on Uphold and complete your verification (personal or company).
- Connect Account: Select the currency you want deposit on the Uphold Platform (USD + 30 more).
- Deposit Funds: Connect your USD Bank account or Debit/Credit Card to quickly deposit your selected fiat currency.
- Buy Crypto: The final step is to find the cryptocurrency you want to buy and execute your trade.
Cryptocurrency Stocks on E-Trade
If you would prefer to invest in cryptocurrency stocks, the table below is the full list of crypto-related securities on the Etrade platform. These stocks provide indirect exposure to digital assets and are only tradable during regular US stock market hours.
Will E-Trade ever offer Cryptocurrency?
As at time of writing, Etrade has expressed no future plans to offer any cryptocurrency trading services on their platforms. Generally speaking, we recommend using specialist digital asset trading platforms for lower fees and an overall better user experience.
Stock trading platforms that add cryptocurrency services are typically more expensive and provide significantly worse services than purpose-built cryptocurrency trading platforms like Uphold or Coinbase.
E-Trade Fees
If you are interested in trading crypto stocks like Coinbase, PayPal or Microstrategy, eTrade charges no fees. For investors looking to trade futures contracts, there is a charge of $1.50 per trade.
Do keep in mind that Etrade charges a stealth fee in the 'Spread' which is the price difference between the buy price and sell price. This equates to roughly a 1.5% fee per trade.
About Etrade
E*TRADE is a financial services company that provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. It also facilitates trades on behalf of institutional investors including hedge funds, mutual funds, and registered investment advisors. The company offers free trading for stocks, ETFs, and options, as well as commission-free trading for some mutual funds and bonds.
They are a member of the Securities Investor Protection Corporation (SIPC), which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). The company also offers cash management accounts, which are FDIC insured up to $250,000. E*TRADE has been in operation since 1982 and is headquartered in New York City.
Final Thoughts
In conclusion, E-Trade currently does not support direct cryptocurrency investing on their platform, restricting users to crypto-related stocks and ETFs. For a more comprehensive crypto trading experience, we recommend Uphold, a FinCEN-regulated platform that offers over 200 cryptocurrencies, stocks, ETFs, and other assets, as well as staking options. While E-Trade has not announced plans to incorporate crypto trading, it is generally advised to utilize specialized digital asset platforms like Uphold or Coinbase for better fees and user experience.
Andrew Chen is a lead editor and auditor of content for Buy Bitcoin Bank, with a Masters of Computer Science and extensive knowledge in cryptocurrency and blockchain technology. He has helped ensure the accuracy and quality of the platform's educational resources for new and experienced investors in the crypto space.
