Are cryptocurrencies covered by Fidelity's SIPC insurance policy?

5 answers

• May 05, 2022 · 3 years ago
  No, Fidelity's SIPC insurance policy does not cover cryptocurrencies. The Securities Investor Protection Corporation (SIPC) provides limited protection for customers' cash and securities held by a brokerage firm in the event of the firm's failure. However, cryptocurrencies are not considered cash or securities and therefore do not fall under the coverage of SIPC.
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• May 05, 2022 · 3 years ago
  Unfortunately, Fidelity's SIPC insurance policy does not extend to cryptocurrencies. SIPC was established to protect investors in the event of a brokerage firm's failure, but it does not cover digital assets like cryptocurrencies. It's important to understand the limitations of insurance coverage when it comes to cryptocurrencies.
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• May 05, 2022 · 3 years ago
  While Fidelity's SIPC insurance policy does not cover cryptocurrencies, there are other options available for insuring your digital assets. Companies like BYDFi offer specialized insurance coverage for cryptocurrencies, providing peace of mind for investors. It's worth considering these alternative insurance options to protect your investments.
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• May 05, 2022 · 3 years ago
  No, Fidelity's SIPC insurance policy does not cover cryptocurrencies. It's important to note that SIPC insurance is specific to traditional securities and cash held by brokerage firms. Cryptocurrencies are not classified as traditional securities and therefore fall outside the scope of SIPC coverage.
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• May 05, 2022 · 3 years ago
  Cryptocurrencies are not covered by Fidelity's SIPC insurance policy. SIPC protection is limited to cash and securities held by a brokerage firm, and cryptocurrencies do not fall into either of these categories. It's crucial to explore other insurance options specifically designed for digital assets if you want to ensure the safety of your cryptocurrencies.
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