Fidelity does not offer Dogecoin through its standard brokerage accounts

You cannot buy Dogecoin directly on Fidelity's main investment platform. Fidelity does not list Dogecoin or most other cryptocurrencies for purchase in regular brokerage accounts, retirement accounts, or their standard trading tools.

Fidelity does offer some cryptocurrency exposure through other routes — specifically Bitcoin and Ethereum through certain products — but Dogecoin is not among them. If you want to own Dogecoin, you will need to use a separate cryptocurrency exchange or platform.

Key Takeaways

  • Fidelity's main brokerage platform does not support buying Dogecoin or most other cryptocurrencies.
  • Fidelity does offer Bitcoin and Ethereum through specific products like spot Bitcoin ETFs and cryptocurrency accounts, but Dogecoin is not included.
  • To buy Dogecoin, you will need to open an account on a dedicated cryptocurrency exchange such as Coinbase, Kraken, or Gemini.
  • Some cryptocurrency exchanges allow you to link your Fidelity bank account for deposits, making the process simpler without leaving Fidelity entirely.

What cryptocurrencies Fidelity does support

Fidelity has expanded its cryptocurrency offerings in recent years, but the selection remains limited. The platform offers spot Bitcoin ETFs (exchange-traded funds that track Bitcoin's price) and spot Ethereum ETFs through regular brokerage accounts. These are funds you can buy like any stock, and they hold actual Bitcoin or Ethereum on your behalf.

Fidelity also operates Fidelity Crypto, a separate cryptocurrency account where you can buy, sell, and hold Bitcoin and Ethereum directly. This account is distinct from your brokerage account and requires a separate login. However, Dogecoin remains unavailable on both platforms.

The reason Fidelity limits its cryptocurrency offerings is regulatory caution. Bitcoin and Ethereum are the two largest cryptocurrencies by market value, and Fidelity has chosen to focus there rather than expand to smaller or newer coins like Dogecoin.

How to buy Dogecoin on a cryptocurrency exchange

To own Dogecoin, you will open an account on a cryptocurrency exchange — a platform that specializes in buying and selling digital currencies. The most widely used exchanges that support Dogecoin are Coinbase, Kraken, Gemini, and Kraken. Each requires you to verify your identity before you can trade.

The basic steps are: create an account, complete identity verification (which takes a few minutes to a few hours), link a payment method, and place an order for Dogecoin. You can fund most exchanges using a bank transfer, debit card, or credit card, though bank transfers are usually cheaper.

Many exchanges allow you to link your Fidelity bank account directly for deposits, so you do not need to move money to a separate bank. Check the exchange's payment options when you sign up to see if Fidelity is listed.

The difference between owning Dogecoin and owning a Bitcoin ETF

If you buy Bitcoin through a Fidelity spot Bitcoin ETF, you own shares of a fund that holds Bitcoin. You do not hold the Bitcoin itself. The fund manager holds it, and you benefit if the price rises. You can sell your shares anytime during market hours, just like a stock.

If you buy Dogecoin on a cryptocurrency exchange, you own the actual coin. You control it directly in a digital wallet. You can send it to another wallet, trade it, or hold it indefinitely. The tradeoff is that you are responsible for keeping your account find — if someone gains access to your exchange account, they can take your coins.

For most people new to cryptocurrency, an exchange account is simpler to set up than managing a digital wallet separately. The exchange handles the technical details.

Why Fidelity may not add Dogecoin soon

Fidelity's decision to exclude Dogecoin likely reflects both regulatory uncertainty and business strategy. Dogecoin started as a joke and has no formal development team or governance structure like some other cryptocurrencies. Regulators have not clearly defined how coins like Dogecoin should be treated, which makes large financial institutions cautious about offering them.

Additionally, Fidelity prioritizes cryptocurrencies with the largest user bases and clearest regulatory paths. Bitcoin and Ethereum meet both criteria. Dogecoin, while popular on social media, has a smaller institutional following, which may not justify the compliance cost for Fidelity.

This does not mean Fidelity will never offer Dogecoin — the company has expanded its crypto offerings before — but there is no announced timeline for adding it.

Moving Dogecoin between an exchange and Fidelity

Once you own Dogecoin on an exchange, you cannot transfer it directly into a Fidelity brokerage or Fidelity Crypto account, because Fidelity does not support it. You can hold Dogecoin on the exchange where you bought it, or transfer it to a separate digital wallet for long-term storage.

If you later want to sell your Dogecoin for cash, you would sell it back on the exchange and withdraw the money to your bank account. That cash can then be deposited into Fidelity if you want to invest it elsewhere.

Frequently Asked Questions

Can I buy Dogecoin in my Fidelity retirement account?

No. Fidelity does not support Dogecoin in any account type, including IRAs, 401(k)s, or taxable brokerage accounts. Retirement accounts have strict rules about what can be held in them, and Fidelity has chosen not to include Dogecoin in any of its offerings.

Will Fidelity add Dogecoin in the future?

Fidelity has not announced plans to add Dogecoin. The company has expanded its cryptocurrency offerings before, but it has focused on Bitcoin and Ethereum. Any future expansion would depend on regulatory clarity and business demand, neither of which is certain for Dogecoin.

Is it safe to buy Dogecoin on a cryptocurrency exchange?

Major exchanges like Coinbase and Kraken use security practices similar to banks, including encryption and insurance on certain holdings. However, cryptocurrency exchanges carry different risks than Fidelity — if the exchange is hacked or goes out of business, your coins could be lost. Research the exchange's security record and insurance coverage before opening an account.

Can I link my Fidelity bank account to a cryptocurrency exchange?

Yes, most major cryptocurrency exchanges allow you to link a bank account for deposits and withdrawals. When you set up payment methods on the exchange, look for the option to add a bank account. You will need your Fidelity routing number and account number, which you can find in your Fidelity account settings.

What is the difference between Fidelity Crypto and Fidelity's Bitcoin ETF?

Fidelity Crypto is a direct cryptocurrency account where you own actual Bitcoin or Ethereum. A Bitcoin ETF is a fund you buy like a stock, and the fund manager holds the Bitcoin. The ETF is simpler for most investors and can be held in any Fidelity account, while Fidelity Crypto is a separate account that only supports Bitcoin and Ethereum.