Etrade Financial is a financial services company that offers online brokerage and related goods and services to individual retail investors. It also helps institutional investors execute deals like hedge funds, mutual funds, and registered investment advisors. In addition, the company provides commission-free trading for stocks, ETFs, options, and some mutual funds and bonds. This article will help you understand whether you can buy crypto on Etrade or not.
Etrade Financial Corp. (ETFC) is getting ready to enter the cryptocurrency market, allowing consumers to trade prominent coins like Bitcoin and Ethereum on its platform. According to anonymous sources familiar with the firm’s plans interviewed by Bloomberg, the move would make it one of the significant securities brokerages to offer cryptocurrency trading.
What is Etrade?
E-Trade is a financial services company headquartered in New York, New York, founded in 1982 by William A. Porter and Bernard A. Newcomb. The company is a pioneer in the internet brokerage industry, with over 30 locations across the United States.
E-Trade offered an electronic trading platform for novice and experienced traders looking to purchase and sell financial assets such as common stock, preferred stock, futures contracts, mutual funds, options, fixed-income investments, and exchange-traded funds. In addition, to help maximize the value of deposits earned in its brokerage operation, it offers banking products through E-Trade Bank, an FDIC-registered federal savings bank.
E-Trade Trading Platforms
E-Trade manages three major trading platforms for the company’s clients. Can you buy crypto on Etrade using one of these? The trading platforms include:
Registered users can access live market commentary, free streaming market data, real-time quotes, news, and charts, as well as other market updates. In addition, using the site, investors can access investing tools to uncover possible investment opportunities, execute transactions, create watch lists, and track the growth of their accounts. Still, will you be able to buy crypto on Etrade?
OptionsHouse is a powerful trading platform that eTrade acquired in 2016. The software has been integrated into the E-Trade platform and is now available to the company’s investors. Users can trade stocks, options, ETFs, and futures. In addition, OptionsHouse provides real-time data, more than 100 technical studies, 30 drawing tools, customizable options chains, and idea development tools.
The E-Trade Pro trading platform is designed for the company’s largest and most active consumers. Traders with a brokerage account balance of at least $250,000 or who complete at least 30 trades every quarter are eligible. This subscription would make it very easy to buy crypto on Etrade. Advanced tools such as strategy scanners and back-testing capabilities are available to traders. Charting is also customizable on the platform.
E-Trade offers two free mobile apps through which users can access their accounts and execute trades. It is available for Android and iPhone, with additional capabilities such as real-time screeners and training videos. Users can simply obtain real-time quotes, place trades, and manage their trades using mobile apps. This would have created a much more accessible space for users to buy crypto on Etrade. Customizable options charts and interactive charts are available with the OptionsHouse mobile app.
How to Open an Account with E-Trade
The E-Trade platform enables investors to begin the registration procedure on the internet and begin trading without engaging with corporate personnel. To register, go to the homepage and click the “Open an account” button. Then, choose the type of account you want from the options in the next window, whether a conventional investing or retirement account.
The registration form will ask you for your full name, physical address, date of birth, social security number, telephone number, email address, and other vital information. Registration takes about 10 minutes on average. All this information is crucial for the Know Your Customer (KYC) Process and is commonplace when you enter the platform to buy crypto on Etrade.
After you complete the registration procedure, the platform will provide you with an account number, which you can use to fund your E-Trade account and buy crypto on Etrade. Via wire transfer you can fund your account, cheque, or the company’s quick-transfer service, which allows you to move funds from another account. A brokerage account requires a minimum balance of $500 to be opened.
E-Trade charges a regular price of $6.95 for each trade; however, significant traders benefit from tiered pricing that drops to $4.95 per trade for 30 or more deals every quarter. For more hands-on management, traders can use the company’s robot adviser service, which makes transactions and modifies portfolio holdings. The service charges an 0.3% as an annual fee, with a $5,000 minimum investment.
Buy crypto on Etrade
There are various options if you trade and buy crypto on Etrade. Etrade does not provide direct access to cryptocurrency exchanges but provides a comprehensive range of securities related to digital assets. So if exchange-traded products aren’t for you and you want direct access to cryptocurrencies, we have a solid option.
For starters, Etrade does not provide direct access to cryptocurrency marketplaces. As a result, Webull is one of the most excellent alternatives to Etrade if you seek a brokerage that allows its investors to purchase and sell cryptocurrencies directly. We’ll explain why in a moment, but first, let’s look at the crypto-related assets available at Etrade.
Digital Asset Availability at Etrade
Because Etrade does not provide direct access to cryptocurrencies, you must check into options offered on US stock exchanges. Additionally, stocks, ETFs, and futures contracts tied to digital assets are available to investors.
They are finding a broker who offers stock, ETF trading, and access to cryptocurrencies, delivering enormous benefits for many people. If you are interested in trading in the digital asset marketplace, Webull is an ideal alternative to Etrade.
Available cryptocurrencies at Webull
Webull not only offers the same exchange-traded assets as Etrade, but they also have a vast selection of the world’s most popular cryptocurrencies. As a result, it might be claimed that Webull’s trading platforms are more suited to active traders (something cryptocurrency investors usually appreciate).
There are many cryptocurrencies available for trading at WeBull.
- Algorand (ALGOUSD)
- Avalanche (AVAUSD)
- BAT (BATUSD)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Chainlink (LINKUSD)
- Cosmos (ATOMUSD)
- Curve DAO (CRVUSD)
- Dash (DASH)
- Decentraland (MANAUSD)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Dogecoin (DOGE)
- Fantom (FTMUSD)
- LINK (LINKUSD)
- Litecoin (LTC)
- Loopring (LRCUSD)
- Polygon (MATICUSD)
- REN (RENUSD)
- SHIB (SHIBUSD)
- Solana (SOLUSD)
- Sushi (SUSHUSD)
- Stellar Lumens (XLM)
- Terra (LUNAUSD)
- The Graph (GRTUSD)
- UNI (UNIUSD)
- XLM (XLMUSD)
- Zcash (ZEC)
Although there are numerous benefits to opening a Webull account for investing in Bitcoin, Ethereum, Dogecoin, and other cryptocurrencies, it is no secret that Etrade is also a solid broker that may provide its fair share of opportunities. So the question can you buy crypto on Etrade? Until now you might have fair idea of the answer.
Cryptocurrency Futures on Etrade
Notably, Etrade offers futures contracts for Bitcoin and Ethereum. These leveraged vehicles follow the price movements of the underlying assets and provide highly leveraged contracts that let investors gain (and lose) money faster than they might in traditional cryptocurrency markets.
To put Bitcoin and Ethereum futures leverage into perspective, investors can gain (or lose) $5 and $2.50 for each tick that the underlying assets move. For example, CME Bitcoin and Ether futures contracts represent 5 Bitcoins and 50 Ethereum tokens, respectively.
The margin requirements for these kinds of investment vehicles might be relatively high. For example, the bitcoin futures margin was above $60,000 at the time of writing, and Ether’s margin was just over $50,000 per contract.
Etrade now provides CME micro Bitcoin and Ether futures contracts, which are one-tenth the size of the minis. While single contract margins remain relatively high for the ordinary investor, micros make bitcoin derivatives trading considerably more accessible.
Stocks & ETFs on Etrade
The same stocks and ETFs mentioned at ETrade. Here are some essential tickers to acquire rapid access to the cryptocurrency markets.
- GBTC – Greyscale Bitcoin Trust
- OBTC – Osprey Bitcoin Trust
- ETHE – Greyscale Ethereum Trust
- BLOK – Amplify Transformational Data Sharing ETF
- BITO – ProShares Bitcoin Strategy ETF
- BLCN – Siren Nasdaq NexGen Economy ETF
- OSTK – Overstock.com, Inc.
- RIOT – Riot Blockchain, Inc.
- MARA – Marathon Digital Holdings
- COIN – Coinbase Global, Inc.
- PYPL – Paypal Holdings, Inc.
- SQ – Block, Inc.
Other alternatives may be added to this list, but these are among the most popular and widely traded—an excellent place to start.
Crypto Securities vs. Cryptocurrencies on Etrade
If you’re still debating whether to trade cryptocurrencies or digital assets, here are a few things to consider.
Trading Hours at Etrade
Your feelings about trading hours for exchange-traded securities may be positive or not, depending on what you’re looking for. Any security traded on an exchange will be subject to the same rules as all others. This means that your ‘crypto trading’ will be available only during regular market hours.
In contrast, cryptocurrency markets are open 24 hours a day, seven days a week, and there is no need to wait for anything to open before you begin trading. In addition, having 24-hour access to cryptocurrency marketplaces allows you to react to market volatility as it occurs.
Etrade or Webull for Crypto Trading: Which is Better?
Each person will have a different best alternative for trading or investing in cryptocurrencies. Consider the details provided above and choose your objectives.
To compare the two brokers, we can state that both provide exchange-listed securities such as stocks, ETFs, and options contracts. However, Webull does not offer bitcoin futures trading, although Etrade does. Instead, Webull provides direct access to the most popular cryptocurrencies around the globe.
Most investors (excluding futures traders, portfolio managers, and institutions) favor Webull.
Can you buy crypto on Etrade?
Can you buy crypto on Etrade? This question is crucial as eTrade has not stated whether or not it would provide cryptocurrencies for direct purchase in the future, it is likely. This is due to the growing importance of the cryptocurrency sector, and eTrade would prefer that users not utilize another platform to make an investment that eTrade could easily support.
ETFs and stocks are now the sole options on eTrade. But Can you buy crypto on Etrade? The answer of the question might become yes but in future.
Etrade being a brokerage platform offers multiple options for a user and it is considerably reliable. Reliability is an important aspect when you talk about trading cryptocurrency. With daily news of exchanges getting compromised, it is important to look for secure platform. Consider Xbo’s efforts in terms of security. It employs military grade security and tied up with top security agencies to make sure user data is secure. As of now XBO is looking for a face with its Bored Ape NFT program. You can submit your bored ape here and stand a chance to win $100,000.
Etrades’ entry into the digital currency field comes when the once-hot market is in turmoil, with crypto prices significantly lower than their 2017 highs. For example, while Bitcoin has gained over 40% in the last two months, it is still roughly 70% behind its peak in December 2017, just before the crypto-bubble burst and bitcoin nearly reached $20,000.
Meanwhile, claims have surfaced that a large crypto operation controls the Bitfinex exchange and crypto business Tether Ltd. concealed $850 million in losses in customer and corporate funds from investors and dug into Tether’s cash reserves to make up the difference.
Thanks to Power Etrade, Etrade is an industry leader in mobile and web trading products and continues to innovate year after year. Overall, Etrade offers a well-rounded product that will satisfy most investors.