Cryptocurrency
Take a closer look at cryptocurrency.
A digital alternative to traditional currencies.
Understanding cryptocurrency.
What it is and how it works.
Cryptocurrency is a digital asset, intended to be a cash alternative, typically in the form of electronic tokens or “coins.” It can be used to buy goods or services, or used for investing, in the way you would a stock. Although some U.S. retailers currently accept it, cryptocurrency’s not yet a common payment method. To purchase it, you need a “wallet” – this is usually in the form of a digital currency app. Unlike physical cash, cryptocurrency isn’t issued by a central authority, like a government or bank. It’s managed, instead, by a decentralized, peer-to-peer network, using blockchain technology.
Investing in cryptocurrency with us.
Your choices with Ally Invest.
We don’t currently offer cryptocurrency spot trading. However, we do offer crypto-specific funds and stocks to indirectly expose your portfolio, no coins or wallet needed. Keep in mind, these aren’t recommendations and are still subject to volatility, annual fees and other individual costs.
Crypto Trusts.
These are private trusts that invest in and track the price of specific cryptocurrencies, allowing you to indirectly trade them as you would a stock.
Bitcoin Futures.
These exchange-traded funds (ETFs) invest in the purchase of bitcoin futures contracts. This means you gain exposure by speculating on the future price of Bitcoin without directly owning it.
Crypto Stocks.
These are publicly traded companies which individually buy and hold cryptocurrency. Buying shares of their stocks provides you with indirect exposure.
Take the next step.
Getting started with cryptocurrency.
If you already have an Ally Invest Self-Directed account, log in. From the menu select Research to search for crypto-specific trusts, futures, and stocks. If you're new to self-directed trading, first learn more, then when you're ready, open an account.
Learn even more about trading cryptocurrency.
An informed trader is a smarter trader.
FAQs
We have answers.
You can't currently trade cryptocurrencies with us, but we offer other ways to gain exposure to the crypto market.
You can invest in:
Funds that own crypto, such as Grayscale Bitcoin Trust (GBTC) or Orsprey Bitcoin Trust (OBTV)
Funds that own crypto futures, such as ProShares Bitcoin Strategy ETF (BITO)
Companies that are involved in crypto, such as Coinbase (COIN) or PayPal (PYPL)
Keep in mind, these are examples, not recommendations. Consider your own goals and investment needs anytime you trade.
No. We currently only accept transfers and other interactions made with U.S. dollars.
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