Uphold charges for xfers, Fidelity crypto does not

I suggest to make the option of Brave Rewords deposited into Fidelity Crypto or the Brave Wallet.

@dsyvanen custodial partners have always been required due to legal. Brave had always been looking for more partners but it all came down to business arrangements. Many of the issues had been that either exchanges weren’t abiding by regulations or they couldn’t agree on fee arrangements. Therefore Brave has had the limited amount of partnerships it has had.

There’s actually some movement from Brave where they are speaking of going to on chain payments. This is partially due to some regulatory changes, but it’s also due to some advice from new legal teams. What the on chain payments will mean is that we will be able to receive direct payments and won’t be required to KYC/AML to get them. (Still might need to KYC/AML somewhere to convert it to cash, but that’s a different story and all on the user)

In any case, just have to hang tight and changes will be coming. We’re just in a transition period, so just going to go for a while longer with restricted regions and all.

Btw, everyone charges for transfers. Gas fees and service fees are part of crypto.

Fidelity is offering customers what it describes as “commission-free” crypto trading. That doesn’t necessarily mean trading is free. The company says it takes a spread of up to 1% on crypto trades.

Do I need to pay a transaction fee when sending crypto?

The receiver does not incur any transaction fees, but the sender typically does. Transaction fees are built into the transfer process for bitcoin and other cryptocurrencies to pay miners and stakers for updating the blockchain.

Transaction fees are usually displayed by the platform you’re using before you confirm and hit Send. They can vary based on factors including how congested the blockchain network is (i.e., how many people are also trying to make a transaction at the same time) and which cryptocurrency network you’re using.

So it’s making it sound like they aren’t fee free. But even if they are, it might be like what Uphold and others used to do which was ease all fees to attract users. Like an introductory offer, but then had to add fees to stay afloat.

Thank you very much. I can accept the idea that Fidelity’s “fee-less” is a fib. Fidelity does not charge a high ‘front-load’ as a mutual fund, where others do, 3 to 8% But they are limited on their crypto fund, only two or three that I have noticed. Thank you.

This topic was automatically closed 60 days after the last reply. New replies are no longer allowed.