To solve the problem of transferring Solana to Fidelity, it’s crucial to understand that you cannot directly transfer Solana SOL or any other cryptocurrency into a traditional Fidelity brokerage account. Fidelity, as a regulated financial institution, operates within specific asset classes like stocks, bonds, mutual funds, and ETFs. While they have explored blockchain and digital assets, their current offerings for retail investors do not include direct crypto custody or transfers from external wallets.

Here are the detailed steps if your ultimate goal is to convert your Solana into funds accessible within a Fidelity account:

Sell Your Solana on a Reputable Cryptocurrency Exchange:
- Choose an Exchange: Select a reliable crypto exchange that supports Solana trading e.g., Coinbase, Binance, Kraken, Crypto.com, KuCoin. Ensure the exchange operates legally in your jurisdiction.
- Transfer SOL to Exchange Wallet: If your Solana is currently in a personal wallet e.g., Phantom, Solflare, you’ll need to send it to your dedicated Solana deposit address on the chosen exchange. Double-check the address for accuracy.
- Execute the Sale: Once your SOL is on the exchange, navigate to the trading interface and sell your Solana for fiat currency USD is typical for U.S. residents. This will convert your SOL into cash within your exchange account.
Withdraw Fiat Currency to Your Bank Account:
- Initiate Withdrawal: On the exchange, find the “Withdraw” or “Cash Out” option.
- Select Fiat Currency: Choose USD or your local currency as the withdrawal type.
- Link Bank Account: If you haven’t already, you’ll need to link your bank account to the exchange. This usually involves providing routing and account numbers, and sometimes small deposit verification.
- Confirm Withdrawal: Enter the amount you wish to withdraw and confirm the transaction. Withdrawal times can vary, typically taking 1-5 business days.
Deposit Funds into Your Fidelity Account:
- Access Fidelity: Log into your Fidelity brokerage account.
- Initiate Deposit: Look for options like “Deposit,” “Transfer,” or “Add Money.”
- Choose Funding Method: Select “Electronic Funds Transfer EFT” or “Bank Transfer” as the method.
- Link External Account: If not already linked, you’ll add your bank account details the same one you withdrew to from the crypto exchange to Fidelity.
- Transfer Funds: Specify the amount to transfer from your bank account to your Fidelity account. These funds will then be available for investing in traditional assets within Fidelity.

Important Considerations:

Taxes: Selling Solana for fiat currency is a taxable event. Keep meticulous records of your purchase price, sale price, and any associated fees for tax reporting purposes. Consult a tax professional for personalized advice.
Fees: Be aware of trading fees on the exchange, withdrawal fees from the exchange, and potential bank transfer fees.
Security: Always use strong, unique passwords, enable Two-Factor Authentication 2FA on all exchange and wallet accounts, and be vigilant against phishing scams.

Table of Contents

Understanding Fidelity’s Stance on Cryptocurrency and Digital Assets

Fidelity, a venerable institution in the financial world, has been exploring the digital asset space for quite some time, recognizing its growing importance.

However, their approach to cryptocurrency for retail investors is distinctly different from that of a direct crypto exchange.

It’s crucial for anyone looking to “transfer Solana to Fidelity” to grasp this fundamental difference: Fidelity does not currently offer direct cryptocurrency custody or the ability to transfer crypto assets like Solana directly into your standard brokerage account.

Fidelity Digital Assets: Institutional Focus

Fidelity’s primary foray into the crypto world has been through Fidelity Digital Assets FDA, which launched in 2018. This arm is specifically designed to provide enterprise-grade solutions for institutional investors, such as hedge funds, asset managers, and corporations.

Services Offered: FDA provides secure custody services for a limited number of cryptocurrencies primarily Bitcoin and Ethereum, along with trade execution services. This means they act as a secure vault and trading desk for large institutional clients.
High Bar for Entry: Access to FDA is not for the average retail investor. It typically requires substantial minimum assets and adherence to strict compliance protocols.
Not for Retail Wallets: It’s a common misconception that FDA allows individuals to transfer their personal crypto holdings from a MetaMask or Phantom wallet. This is simply not the case. Their infrastructure is built for institutional-grade security and regulatory compliance, not for individual retail transfers.

Retail Investor Options: Limited Direct Access

For the everyday investor, Fidelity’s direct crypto offerings are currently quite limited.

As of early 2024, if you log into your standard Fidelity brokerage account, you won’t find an option to hold Solana, Bitcoin, or Ethereum directly.

Crypto-Adjacent Investments: Fidelity does offer some crypto-adjacent investment products. These typically come in the form of exchange-traded funds ETFs or mutual funds that track the performance of cryptocurrencies or companies involved in the crypto industry. For example, they launched the Fidelity Wise Origin Bitcoin Trust FBTC, a spot Bitcoin ETF, and the Fidelity Metaverse ETF FMET.
No Direct Custody: Crucially, investing in these products means you are investing in a fund that holds or tracks crypto, not holding the crypto itself directly in your Fidelity account. You are gaining exposure to the price movements of crypto without the complexities of self-custody or direct transfers.

Why Direct Transfers Are Not Possible

The inability to directly transfer Solana to Fidelity boils down to several key factors:

Asset Class Distinction: Traditional brokerage accounts are designed for securities stocks, bonds, funds and cash, which operate under a different regulatory framework than cryptocurrencies.
Custody Infrastructure: Holding cryptocurrencies requires specialized secure digital infrastructure, cryptographic key management, and robust cybersecurity protocols. Fidelity’s existing retail brokerage infrastructure is not built for this.
Regulatory Hurdles: The Securities and Exchange Commission SEC and other regulatory bodies have different rules for securities versus commodities which cryptocurrencies are often classified as. Integrating direct crypto transfers would require a massive overhaul of their compliance and operational frameworks for retail.
Risk Management: Direct crypto custody for millions of retail users would introduce new layers of operational and security risks that Fidelity, as a regulated entity, must carefully manage.

In essence, while Fidelity is certainly interested in the digital asset space, their current retail offerings provide exposure through regulated financial products rather than direct crypto holdings or transfers.

This distinction is vital for anyone trying to bridge the gap between their personal crypto assets and their traditional investment accounts.

Understanding Solana’s Ecosystem and Wallets

Solana is a high-performance blockchain designed for decentralized applications dApps and crypto projects. How to convert money from cashapp to Solana

Its distinguishing features include rapid transaction speeds, low transaction costs, and a scalable architecture, making it a compelling alternative to older blockchains.

Before you can even consider moving your Solana SOL, you need to understand where it lives and how it interacts within its native ecosystem.

What is Solana SOL?

Solana is a public blockchain platform.

Its native cryptocurrency is SOL, which is used for:

Transaction Fees: Paying for transactions and interacting with smart contracts on the network.
Staking: Securing the network by locking up SOL to participate in the proof-of-stake consensus mechanism and earn rewards.
Governance: Participating in future governance decisions of the Solana network.

Solana’s architecture uses a unique combination of technologies, including Proof of History PoH and Proof of Stake PoS, to achieve its high throughput of potentially tens of thousands of transactions per second TPS, far exceeding that of many legacy blockchains.

For context, as of early 2024, Solana often processes over 2,000 TPS on average, with peaks much higher, while Ethereum’s base layer typically handles around 15-30 TPS.

This efficiency has made it a popular choice for NFTs, DeFi, and GameFi projects.

Solana Wallets: Your Gateway to the Network

A Solana wallet is essential for interacting with the Solana blockchain.

It’s not a physical wallet in the traditional sense, but rather a software or hardware application that allows you to store your private keys, send and receive SOL and other Solana-based tokens SPL tokens, and interact with dApps.

Types of Solana Wallets:

Software Wallets Hot Wallets: These are applications installed on your computer or mobile device, or browser extensions. They are generally convenient for frequent transactions but are considered less secure than hardware wallets because they are connected to the internet. How to convert Solana to inr in stake
- Phantom Wallet: This is by far the most popular and user-friendly Solana wallet. It’s available as a browser extension Chrome, Firefox, Brave, Edge and a mobile app. Phantom allows you to:
  - Store SOL and SPL tokens.
  - Collect and view NFTs.
  - Swap tokens directly within the wallet.
  - Stake SOL for rewards.
  - Connect to dApps.
- Solflare Wallet: Another highly regarded Solana wallet, available as a browser extension and mobile app. Solflare offers similar functionalities to Phantom, including staking, token swapping, and NFT management. It’s known for its robust features and user-friendly interface.
- Exodus Wallet: A multi-currency desktop and mobile wallet that supports Solana, among many other cryptocurrencies. It’s good for users who hold diverse crypto portfolios.
- Coinbase Wallet: A non-custodial wallet from Coinbase that supports Solana, allowing users to manage their SOL and interact with the Solana ecosystem.
Hardware Wallets Cold Wallets: These are physical devices that store your private keys offline, providing the highest level of security against online threats. They are ideal for storing large amounts of SOL or for long-term holding.
- Ledger Nano S/X: Ledger is a leading brand in hardware wallets. Both the Nano S and Nano X support Solana SOL and SPL tokens. You use the Ledger device in conjunction with Ledger Live software and often link it to a software wallet like Phantom or Solflare for easier interaction with dApps.
- Trezor Model T: While historically slower to adopt Solana, Trezor Model T now supports Solana through integration with third-party wallets like Solflare.

Key Wallet Concepts:

Public Address: This is like your bank account number. It’s a long string of alphanumeric characters e.g., 8WpZt825225E5Z2k486... that you share with others to receive SOL or SPL tokens. It’s publicly visible on the blockchain.
Private Key / Seed Phrase Recovery Phrase: This is the most critical component of your wallet. It’s a secret, typically 12-24 word phrase e.g., “word1 word2 word3…”. Whoever has your private key or seed phrase has full control over your funds. Never share it with anyone, store it offline, and protect it diligently. If you lose it, you lose access to your funds forever.
Non-Custodial vs. Custodial Wallets:
- Non-Custodial Self-Custody: You hold your own private keys e.g., Phantom, Solflare, Ledger. This gives you full control and responsibility over your assets.
- Custodial: A third party like a centralized exchange holds your private keys on your behalf. This is convenient but means you don’t have direct control over your funds. If the exchange is hacked or goes bankrupt, your funds could be at risk. When you have SOL on an exchange like Coinbase, it’s typically held in a custodial wallet by the exchange.

Understanding these wallet types and concepts is fundamental to managing your Solana assets securely and forms the first step in any process involving transferring your SOL.

You must know where your SOL is currently stored e.g., Phantom, Solflare, or an exchange like Coinbase to initiate any transfer or sale.

The Process of Selling Solana SOL for Fiat Currency

Since direct transfer of Solana to Fidelity isn’t possible, the most practical approach is to sell your Solana for traditional currency fiat and then deposit that fiat into your bank account, which can subsequently be linked to Fidelity.

This process involves using a centralized cryptocurrency exchange.

Choosing a Reputable Cryptocurrency Exchange

The first critical step is selecting a trustworthy and compliant cryptocurrency exchange.

Not all exchanges support Solana, and their features, fees, and regulatory compliance vary.

Regulatory Compliance: For US residents, exchanges registered with FinCEN as Money Services Businesses MSBs and compliant with state-specific regulations are ideal. Examples include Coinbase, Kraken, and Gemini. These exchanges typically have robust KYC/AML Know Your Customer/Anti-Money Laundering procedures.
Supported Cryptocurrencies: Ensure the exchange explicitly lists Solana SOL for trading against your desired fiat currency e.g., USD, EUR, GBP.
Liquidity: High liquidity ensures you can sell your SOL quickly and at a fair market price, minimizing slippage the difference between the expected price and the actual price.
Fees: Compare trading fees taker/maker fees, deposit fees, and withdrawal fees for both crypto and fiat. Fees can significantly impact your net proceeds.
Security Features: Look for exchanges with strong security protocols, including Two-Factor Authentication 2FA, cold storage for a majority of assets, insurance policies though these often have limitations, and a strong track record.
User Interface: A user-friendly interface makes the selling and withdrawal process smoother, especially for those new to crypto exchanges.

Popular Exchanges Supporting Solana and USD:

Coinbase: One of the largest and most regulated exchanges in the U.S. User-friendly, good for beginners, but often has slightly higher fees than some competitors. Supports SOL trading.
Kraken: Known for its robust security, wide range of cryptocurrencies, and competitive fees, especially for active traders. Supports SOL trading.
Binance.US: The U.S. arm of Binance, offering a wide selection of assets and competitive fees. Note that regulatory scrutiny varies by state. Supports SOL trading.
Crypto.com: Offers a broad range of crypto services, including trading, staking, and a visa card. Supports SOL trading.
KuCoin: A global exchange with a vast selection of altcoins, including Solana. While popular, it has faced more regulatory scrutiny in some regions, and its KYC requirements might be less strict than US-specific exchanges, potentially impacting fiat withdrawal options in certain jurisdictions. It’s crucial to verify its compliance in your specific area.

Transferring Solana from Your Wallet to the Exchange

Once you’ve chosen an exchange, you need to get your Solana from your personal wallet e.g., Phantom, Solflare, or another exchange to your selected exchange’s deposit address.

How to convert Solana to eth

Log in to Your Exchange Account: Access your chosen exchange and navigate to the “Deposit” or “Wallet” section.
Select Solana SOL: Find Solana SOL in the list of cryptocurrencies and click on it. The exchange will generate a unique Solana deposit address specifically for your account. This address will typically start with 8WpZt... or similar.
- Crucial Step: Double-Check Network: Ensure you select the Solana network for the deposit. Sending SOL on the wrong network e.g., Ethereum or Binance Smart Chain will result in permanent loss of funds. Solana addresses are distinct.
Copy the Deposit Address: Carefully copy the generated Solana deposit address. It’s highly recommended to use the copy button provided by the exchange to avoid manual transcription errors.
Open Your Solana Wallet: Open the Phantom, Solflare, or other wallet where your SOL is currently held.
Initiate Send/Withdrawal: Find the “Send” or “Withdraw” option within your wallet.
Paste the Address: Paste the Solana deposit address you copied from the exchange into the recipient address field in your wallet.
- Always Verify: Before confirming, triple-check that the pasted address exactly matches the address provided by the exchange. Even a single character mismatch can lead to lost funds. A good practice is to check the first few and last few characters.
Enter Amount: Specify the amount of Solana you wish to send. Be mindful of any minimum deposit requirements on the exchange or transaction fees on the Solana network which are typically very low, often less than $0.01.
Confirm Transaction: Review all details recipient address, amount, network and confirm the transaction. Your wallet will broadcast the transaction to the Solana network.
Wait for Confirmation: Solana transactions are very fast, usually confirming within seconds to a few minutes. The exchange will typically require a certain number of network confirmations e.g., 20-30 confirmations, which might take 10-30 seconds before crediting the SOL to your exchange account. You can usually track the transaction status on a Solana block explorer using your transaction ID.

Executing the Sale of Solana

Once your Solana is credited to your exchange account, you can proceed with selling it for fiat currency.

Navigate to Trading Interface: Go to the “Trade,” “Convert,” or “Buy/Sell” section of the exchange.
Select Trading Pair: Choose the SOL/USD or SOL/EUR, SOL/GBP trading pair.
Choose Order Type:
- Market Order: This is the simplest option. You sell your SOL immediately at the current market price. It’s fast but doesn’t guarantee a specific price if there’s high volatility or low liquidity.
- Limit Order: You set a specific price at which you want to sell your Solana. The order will only execute if the market price reaches your specified limit price. This offers more control but means your sale might not execute immediately.
- Advanced Orders: Some exchanges offer more complex order types like stop-loss or take-profit orders, which are useful for more experienced traders.
Enter Amount: Specify the amount of SOL you want to sell.
Review and Confirm: Review the details of your order, including the estimated fiat proceeds and any associated fees. Confirm the trade.
Funds Credited: Once the order executes, the corresponding amount of fiat currency will be credited to your exchange’s fiat wallet balance.

This process transforms your decentralized Solana asset into centralized fiat currency, making it ready for the next step: withdrawing to your traditional bank account.

Withdrawing Fiat Currency from the Exchange to Your Bank Account

After successfully selling your Solana for fiat currency on a cryptocurrency exchange, the next crucial step is to transfer those funds to your traditional bank account.

This is the bridge between the crypto world and your conventional financial system, from which you can then move funds to your Fidelity account.

Linking Your Bank Account to the Exchange

For your first fiat withdrawal, you will likely need to link your bank account to the cryptocurrency exchange.

This is a standard procedure required for compliance and security.

Navigate to Withdrawal Section: Log in to your exchange account and find the “Withdraw,” “Cash Out,” or “Fiat” section.
Select Fiat Currency: Choose the fiat currency you wish to withdraw e.g., USD.
Add/Link Bank Account: The exchange will prompt you to add or link a bank account if you haven’t done so already. This typically involves:
- Bank Name: Your bank’s official name.
- Account Type: Checking or Savings.
- Account Number: Your specific bank account number.
- Routing Number: The nine-digit routing number for your bank used for ACH transfers in the U.S..
- Account Holder Name: Must match the name on your exchange account for KYC/AML purposes.
Verification Process Micro-deposits: Many exchanges use a micro-deposit verification method. They will send two small, random amounts e.g., $0.05 and $0.13 to your bank account. You’ll then need to log back into the exchange and enter these exact amounts to confirm ownership of the bank account. This process can take 1-3 business days.
Instant Verification Plaid/Similar Services: Some exchanges offer instant bank verification using services like Plaid, where you securely log into your bank account through the exchange’s interface. This is faster but requires you to share your banking login credentials though encrypted and not stored by the exchange.

Initiating the Fiat Withdrawal

Once your bank account is linked and verified, you can initiate the withdrawal.

Return to Withdrawal Section: Go back to the “Withdraw Fiat” section on the exchange.
Select Linked Bank Account: Choose the bank account you wish to withdraw to.
Enter Withdrawal Amount: Specify the amount of fiat currency you want to transfer. Be mindful of:
- Minimum/Maximum Withdrawal Limits: Exchanges often have daily or weekly limits.
- Available Balance: Ensure you have sufficient fiat balance in your exchange account.
Review Fees: Check any associated withdrawal fees. ACH transfers within the U.S. are often free or have very low fees, while wire transfers are typically more expensive but faster.
Confirm Withdrawal: Double-check all details and confirm the transaction. You may need to enter a 2FA code for security.

Understanding Withdrawal Times and Methods

The time it takes for funds to arrive in your bank account largely depends on the withdrawal method and your bank.

ACH Automated Clearing House Transfer:
- Common Method: This is the most common and generally cheapest method for bank transfers in the U.S.
- Processing Time: Typically takes 3-5 business days for funds to appear in your bank account after the exchange processes the withdrawal request. Weekends and public holidays do not count as business days.
- Batch Processing: ACH transfers are processed in batches, which contributes to the longer processing times.
Wire Transfer:
- Faster, More Expensive: Wire transfers are generally faster than ACH, often arriving within 1-2 business days, sometimes even the same day if initiated early.
- Higher Fees: Wire transfers typically incur higher fees, ranging from $10 to $30 or more per transaction.
- Availability: Not all exchanges offer wire transfers for withdrawals to retail users, and they may have higher minimum withdrawal amounts.
Debit Card Withdrawals Less Common for Large Sums: Some exchanges allow withdrawals directly to a debit card, which can be faster sometimes instant but usually comes with higher fees and lower limits. This is generally not suitable for large sums derived from selling crypto.

Factors Affecting Withdrawal Speed:

Exchange Processing Time: Some exchanges have internal processing times before sending funds to the bank network.
Bank Processing Time: Your bank’s internal processing times can also affect how quickly funds appear in your account.
Time of Day: Withdrawals initiated late in the day or on weekends will usually be processed on the next business day.

During this waiting period, it’s normal for the funds not to appear instantly. How to convert from Solana to usdt on bybit

Most exchanges provide a transaction ID or status update that you can monitor.

Once the funds arrive in your linked bank account, they are fully liquid and ready for transfer to your Fidelity account or any other purpose.

Depositing Funds into Your Fidelity Account

Once the fiat currency from your Solana sale has successfully landed in your linked bank account, the final step is to transfer those funds into your Fidelity brokerage account.

This process is straightforward and leverages Fidelity’s robust electronic transfer capabilities.

Fidelity’s Accepted Deposit Methods

Fidelity offers several convenient ways to deposit funds into your brokerage account.

For transferring money from your bank account, the primary methods are Electronic Funds Transfer EFT and Wire Transfer.

Electronic Funds Transfer EFT / ACH:
- Most Common and Recommended: This is the easiest, most common, and typically free method for transferring money from your bank account to Fidelity. It uses the Automated Clearing House ACH network.
- Processing Time: Funds usually arrive within 1-3 business days. While the funds might show up in your Fidelity balance quickly, they may not be immediately available for trading e.g., for options or margin trading until the transfer fully settles. For buying stocks or ETFs, they are often available almost instantly.
- Limits: Fidelity has daily EFT limits, typically around $100,000 to $250,000 for standard accounts, though this can vary.
Bank Wire Transfer:
- Faster but Costlier: Wire transfers are generally faster than EFTs, often arriving within 1 business day if initiated before the bank’s cut-off time.
- Fees: Your bank will typically charge a fee for outgoing wire transfers e.g., $15-$30. Fidelity does not charge a fee for incoming wires.
- Larger Amounts: Wires are often used for larger transfer amounts or when speed is critical.
Other Methods Less Relevant for This Scenario:
- Check Deposits: You can mail a check or deposit it via the Fidelity mobile app.
- Direct Deposit: You can set up direct deposit for paychecks or government benefits.
- Transfer from Another Fidelity Account: Internal transfers between Fidelity accounts are instant.

Step-by-Step Deposit Process via Fidelity’s Platform

Assuming your funds are now in your bank account after selling Solana and withdrawing from the crypto exchange:

Log in to Fidelity: Go to Fidelity’s website or open the Fidelity mobile app and log in to your brokerage account.
Navigate to Transfers/Deposits: Look for a “Transfer” or “Deposit” option. On the website, this is usually under the “Accounts & Trade” menu, then “Transfers.”
Select “Deposit to an Account”: Choose the option to deposit money into one of your Fidelity accounts.
Choose “Electronic Funds Transfer EFT”: This is the most common and recommended method for pulling funds from your bank account. If you prefer a wire transfer, you’ll need to select that option and follow your bank’s instructions for sending a wire to Fidelity.
Link Your Bank Account if not already linked:
- If this is your first time transferring from this specific bank account to Fidelity, you’ll need to link it.
- Fidelity uses a secure third-party service often Plaid or micro-deposits for verification.
- Instant Verification Plaid: You can often link instantly by securely logging into your bank account through Fidelity’s portal.
- Micro-Deposit Verification: Fidelity sends two small deposits e.g., $0.01-$0.99 to your bank account. You then return to Fidelity’s site after 1-3 business days and verify the amounts. This confirms you own the account.
Select Source and Destination Accounts:
- Source: Choose the bank account from which you want to withdraw the funds the one where your Solana proceeds landed.
- Destination: Select the specific Fidelity brokerage account you want to deposit into.
Enter Amount: Input the exact amount you wish to transfer.
Review and Confirm: Carefully review all the transfer details: source account, destination account, amount, and estimated arrival date. Confirm the transfer.

What Happens After Confirmation

Confirmation Email/Message: Fidelity will send you a confirmation message or email detailing your transfer.
Tracking: You can usually track the status of your transfer within your Fidelity account or through their online portal.
Availability of Funds:
- For EFTs, funds are typically reflected in your Fidelity balance within 1-3 business days.
- While the funds might show up in your “Cash Available to Trade” almost immediately, they may not be fully “settled” for withdrawal or specific types of transactions like options trading for a few more days, depending on Fidelity’s policy.
- For wire transfers, funds are often available much faster, usually within the same business day for trading.

By following these steps, you effectively convert your Solana into fiat currency, move it to your bank, and then seamlessly integrate those funds into your Fidelity investment ecosystem, ready for traditional investments.

Remember that this process involves multiple financial entities, each with its own processing times and potential fees, so patience and careful verification at each step are key.

Tax Implications of Selling Solana

Navigating the world of cryptocurrency often comes with the added complexity of tax obligations. How to transfer Solana to another wallet on cash app

When you sell Solana SOL for fiat currency, it triggers a taxable event in many jurisdictions, including the United States.

It’s crucial to understand these implications to ensure compliance and avoid issues with tax authorities. This is not financial or tax advice. always consult a qualified tax professional.

Capital Gains and Losses

The core concept when selling cryptocurrency is capital gains or losses. In the U.S., the Internal Revenue Service IRS classifies cryptocurrency as property for tax purposes. This means that when you sell, trade, or otherwise dispose of your Solana, you must calculate the difference between its fair market value at the time of disposition and your cost basis.

Cost Basis: This is your original purchase price of the Solana, plus any associated fees e.g., exchange trading fees.
Sales Price: This is the fair market value of the Solana at the time you sold it for fiat currency, minus any selling fees.
Capital Gain: If your sales price is higher than your cost basis, you have a capital gain. This is taxable income.
Capital Loss: If your sales price is lower than your cost basis, you have a capital loss. This can be used to offset capital gains and, to a limited extent, ordinary income.

Short-Term vs. Long-Term Capital Gains

The tax rate applied to your capital gain depends on how long you held the Solana:

Short-Term Capital Gain: If you held the Solana for one year or less before selling, your gain is considered short-term. Short-term capital gains are taxed at your ordinary income tax rates, which can range from 10% to 37% in the U.S.
Long-Term Capital Gain: If you held the Solana for more than one year before selling, your gain is considered long-term. Long-term capital gains are generally taxed at more favorable rates: 0%, 15%, or 20% for most taxpayers in the U.S., depending on your taxable income bracket.
Example: You buy 10 SOL for $500 on January 15, 2023.
- Scenario A Short-Term: You sell 10 SOL for $1,000 on August 15, 2023. Your short-term capital gain is $500 $1,000 – $500.
- Scenario B Long-Term: You sell 10 SOL for $1,000 on February 15, 2024. Your long-term capital gain is $500 $1,000 – $500.

What Constitutes a Taxable Event?

Beyond simply selling for fiat, other actions can trigger a taxable event for your Solana holdings:

Trading Crypto for Crypto: If you trade Solana for another cryptocurrency e.g., SOL for ETH, this is considered a taxable event. You’re effectively selling SOL and immediately using the proceeds to buy ETH.
Using Crypto to Buy Goods/Services: Spending Solana to purchase anything a coffee, a car, an NFT is also a taxable event. You’re disposing of the SOL, and the gain/loss is calculated based on its value at the time of the transaction.
Receiving Crypto as Income: If you receive Solana as payment for goods or services, or as a reward e.g., through staking rewards, airdrops, or mining, it’s generally taxed as ordinary income at its fair market value on the day you receive it.
Gifting Crypto: Gifting crypto generally does not trigger a taxable event for the giver, though gift tax rules may apply depending on the amount. The recipient takes on the original cost basis.

Record Keeping: Your Best Defense

Accurate and meticulous record-keeping is absolutely essential for managing your crypto taxes.

The burden of proof for cost basis and holding periods typically falls on the taxpayer.

Information to Track:

Date of Acquisition: When you acquired the Solana.
Date of Disposition: When you sold, traded, or spent the Solana.
Cost Basis: The price in fiat currency at which you acquired the Solana, plus any fees.
Sales Price: The price in fiat currency at which you sold, traded, or spent the Solana, minus any selling fees.
Number of Units: The exact amount of Solana involved in each transaction.
Exchange Records: Keep statements or transaction histories from all exchanges where you bought, sold, or traded Solana.
Wallet Transactions: If you moved Solana between wallets, record the transaction IDs and times.

Tools for Tax Reporting:

Given the complexity, especially for those with many transactions, using crypto tax software is highly recommended. How to convert Solana to aud

These tools e.g., Koinly, CoinTracker, TaxBit can integrate with your exchanges and wallets, consolidate your transaction data, and help calculate your gains/losses and generate necessary tax forms like Form 8949 for the IRS.

Staking Rewards and Airdrops

If you stake your Solana and earn staking rewards, these rewards are generally considered ordinary income at the time you receive them, based on their fair market value.

The cost basis for these newly earned SOL tokens is their value at the time of receipt.

Similarly, airdrops are usually taxed as ordinary income at the fair market value of the tokens received.

Consulting a Tax Professional

They can provide personalized advice, help you understand your specific obligations, and ensure you comply with all relevant tax regulations.

Don’t underestimate the importance of proper tax planning when dealing with crypto.

Security Best Practices for Crypto Transfers and Transactions

In the decentralized world of cryptocurrency, you are largely your own bank.

This freedom comes with immense responsibility, especially concerning security.

A single misstep can lead to irreversible loss of funds.

When transferring Solana, selling it, or withdrawing fiat, adhering to robust security best practices is non-negotiable. How to convert dogecoin to Solana on robinhood

1. Protect Your Private Keys and Seed Phrases Recovery Phrases

This is the golden rule of crypto security.

Your private key or seed phrase grants complete control over your funds.

Never Share: Absolutely never share your seed phrase or private key with anyone, under any circumstances. No legitimate entity exchange, wallet support, project team will ever ask for it.
Offline Storage: Write down your seed phrase on paper and store it in multiple secure, offline locations e.g., a safe, a fireproof box. Avoid storing it digitally on your computer, phone, cloud storage, as these are vulnerable to hacks.
No Photos: Do not take photos of your seed phrase.
Verify Software: When using a new wallet, ensure it’s the legitimate version from the official source e.g., Phantom.app, Solflare.com. Phishing sites can mimic legitimate wallets to steal your seed phrase.

2. Enable Two-Factor Authentication 2FA Everywhere

2FA adds an essential layer of security beyond just a password.

Even if a malicious actor gets your password, they can’t access your account without your 2FA code.

Hardware 2FA YubiKey/Google Titan: This is the strongest form of 2FA. A physical key is required to log in.
Authenticator Apps Google Authenticator, Authy: These generate time-based one-time passwords TOTP that reset every 30-60 seconds. This is significantly more secure than SMS 2FA.
Avoid SMS 2FA: While better than nothing, SMS 2FA is vulnerable to SIM-swap attacks, where attackers trick your mobile carrier into porting your phone number to their device, allowing them to receive your SMS codes. Prioritize authenticator apps or hardware keys.
Enable on All Accounts: Activate 2FA on your crypto exchanges, email accounts, and any other financial platforms.

3. Verify All Addresses Before Sending

Blockchain transactions are irreversible.

If you send crypto to the wrong address, it’s virtually impossible to recover.

Copy-Paste Carefully: Always use the copy button provided by the exchange or wallet to get the address.
Triple-Check: Before confirming any transaction, visually verify the first few characters and the last few characters of the pasted address against the original address.
Send a Test Transaction for large amounts: For significant transfers, send a small, nominal amount first e.g., 0.01 SOL to ensure the address is correct and the transaction goes through successfully. Once confirmed, send the remaining amount.
Network Selection: When depositing to an exchange, always ensure you select the correct network e.g., Solana network for SOL. Sending tokens on the wrong network is one of the most common ways funds are permanently lost.

4. Be Wary of Phishing and Scams

Verify URLs: Always check the URL of any website you visit, especially for exchanges and wallets. Bookmark official sites and use those bookmarks. Phishing sites often have slightly altered URLs e.g., “coinbaze.com” instead of “coinbase.com”.
Email Scams: Be suspicious of unsolicited emails promising free crypto, asking for personal information, or threatening account closure. Never click links in suspicious emails.
Social Media Scams: Be cautious of giveaways, fake support accounts, or “too good to be true” offers on social media.
Impersonation: Scammers often impersonate legitimate companies or support personnel. They will never ask for your private key or remote access to your computer.
Cold Calls/SMS: Never respond to unsolicited calls or text messages regarding your crypto.

5. Use Strong, Unique Passwords

Complexity: Create long, complex passwords that combine uppercase and lowercase letters, numbers, and symbols.
Uniqueness: Use a different, unique password for every online account. If one account is compromised, others remain safe.
Password Manager: Use a reputable password manager e.g., LastPass, 1Password, Bitwarden to securely generate and store complex, unique passwords.

6. Keep Software Updated

Wallet Software: Regularly update your wallet software, browser extensions, and mobile apps. Updates often include critical security patches.
Operating System: Ensure your computer and mobile device operating systems are up-to-date.
Antivirus/Anti-Malware: Use reputable antivirus and anti-malware software and keep it updated.

7. Be Mindful of Public Wi-Fi

Avoid accessing your crypto accounts or performing transactions on unsecured public Wi-Fi networks, as they can be vulnerable to snooping and man-in-the-middle attacks.

If you must use public Wi-Fi, use a Virtual Private Network VPN.

By diligently applying these security best practices, you significantly reduce the risk of falling victim to scams, hacks, or accidental loss during your crypto transfer and transaction processes.

Remember, in crypto, personal responsibility for security is paramount. Binance how to convert Solana to usdt

Legal and Regulatory Landscape for Digital Assets

Navigating this space requires an understanding of the key regulatory bodies and their current stances.

United States Regulatory Bodies and Their Roles

In the U.S., several federal agencies assert jurisdiction over different aspects of digital assets, often leading to a fragmented and sometimes conflicting regulatory picture.

Securities and Exchange Commission SEC:
- Focus: The SEC’s primary focus is to determine whether a digital asset constitutes a “security” under U.S. law specifically, the Howey Test. If deemed a security, it falls under the SEC’s purview, requiring registration, disclosure, and adherence to securities laws.
- Stance on Solana: The SEC has increasingly targeted numerous cryptocurrencies, including Solana, by naming them as unregistered securities in various lawsuits against exchanges and issuers. This ongoing legal battle creates uncertainty and impacts how regulated entities interact with these assets. As of early 2024, the SEC maintains that many cryptocurrencies, including SOL, are securities.
- Impact on Fidelity: This classification by the SEC is a major reason why traditional brokerages like Fidelity are cautious about directly offering custody or trading of assets like SOL. They operate under strict securities regulations and prefer to avoid assets with uncertain or contested legal classifications.
Commodity Futures Trading Commission CFTC:
- Focus: The CFTC views certain digital assets, primarily Bitcoin and Ethereum, as “commodities.” Their jurisdiction typically covers derivatives trading futures, options based on these commodities.
- Stance on Solana: While the CFTC has asserted jurisdiction over Bitcoin and Ethereum as commodities, their stance on Solana is less clear-cut compared to the SEC’s direct claims. The “security vs. commodity” debate is central to the regulatory confusion.
Financial Crimes Enforcement Network FinCEN:
- Focus: FinCEN, a bureau of the U.S. Department of the Treasury, focuses on anti-money laundering AML and countering the financing of terrorism CFT within the financial system.
- Impact: Exchanges and other entities dealing with cryptocurrency are often classified as “Money Services Businesses” MSBs by FinCEN and must register, implement robust AML/KYC Know Your Customer programs, and report suspicious activities. This is why you undergo identity verification when signing up for a crypto exchange.
Office of Foreign Assets Control OFAC:
- Focus: OFAC enforces economic and trade sanctions.
- Impact: Crypto exchanges and service providers must ensure they are not facilitating transactions with sanctioned individuals, entities, or jurisdictions.
State-Level Regulations:
- “BitLicense”: Some states, notably New York, have their own specific licensing requirements for businesses dealing with virtual currencies e.g., the “BitLicense”. This adds another layer of complexity for crypto businesses operating across the U.S.

Impact on Traditional Financial Institutions TradFi like Fidelity

The regulatory uncertainty and the SEC’s aggressive stance on many cryptocurrencies have a profound impact on how traditional financial institutions TradFi approach the digital asset space.

Caution and Compliance: TradFi institutions like Fidelity are highly regulated and operate under immense scrutiny. They prioritize compliance above all else to avoid legal penalties, fines, and reputational damage.
Risk Aversion: Until there is clear, comprehensive federal legislation defining the regulatory status of various cryptocurrencies, many TradFi firms will remain hesitant to offer direct crypto custody or trading to retail clients for assets beyond the unequivocally clear like spot Bitcoin ETFs, which have a specific regulatory structure.
Focus on Regulated Products: This is why Fidelity’s primary direct crypto offerings for retail investors are currently limited to regulated products like spot Bitcoin ETFs e.g., FBTC or funds that invest in blockchain-related companies. These products fit within existing securities frameworks, making them palatable for traditional brokerage platforms.
Custody Challenges: Holding diverse cryptocurrencies requires specialized technical infrastructure, security protocols, and expertise in managing private keys. This is different from the established systems for holding stocks or bonds.

Future Outlook

Push for Clarity: The crypto industry, lawmakers, and even some regulators are pushing for clearer legislative frameworks to provide certainty and foster innovation.
Potential for Change: New laws or regulatory guidance could eventually lead to traditional brokerages offering direct crypto services, but this is a long-term prospect.
Global Differences: It’s important to remember that regulations vary significantly across countries. What’s permissible in one jurisdiction may not be in another.

In summary, the reason you cannot directly transfer Solana to Fidelity’s traditional brokerage account is deeply rooted in the current, complex, and uncertain legal and regulatory environment for digital assets, particularly the ongoing debate about which cryptocurrencies are considered securities.

Fidelity, as a responsible and regulated financial entity, adheres strictly to existing regulations and errs on the side of caution until clear guidelines emerge. How to transfer Solana to dogecoin

Alternative Ways to Gain Crypto Exposure Through Fidelity

While directly transferring Solana to Fidelity isn’t an option, and the broader crypto market carries risks, Fidelity does offer pathways for investors seeking exposure to the digital asset space within a regulated and familiar environment.

These alternatives allow you to participate in the potential growth of the crypto industry without the complexities of self-custody or navigating direct crypto exchanges, which for some may also be a better choice as it removes direct interaction with non-permissible financial products.

1. Spot Bitcoin ETFs

One of the most significant developments in the U.S.

Crypto market came in early 2024 with the approval of several spot Bitcoin Exchange-Traded Funds ETFs, including Fidelity’s own:

Fidelity Wise Origin Bitcoin Trust FBTC: This ETF holds actual Bitcoin, and its shares trade on traditional stock exchanges.
- How it Works: When you buy shares of FBTC through your Fidelity brokerage account, you are investing in a fund that directly holds Bitcoin. You gain exposure to Bitcoin’s price movements without needing to buy, store, or secure Bitcoin yourself.
- Benefits:
  - Ease of Access: You can buy and sell shares just like any stock or ETF within your existing Fidelity account.
  - Custody Handled: Fidelity, through its partners, handles the secure custody of the underlying Bitcoin.
  - Regulatory Oversight: These ETFs operate under the regulatory framework of the SEC, providing a layer of investor protection typically absent in direct crypto markets.
  - IRA/401k Eligibility: Spot Bitcoin ETFs may be held in traditional retirement accounts like IRAs or 401ks if offered by your plan administrator, which is not possible with direct crypto holdings.
- Limitations:
  - No Direct Solana Exposure: This only provides exposure to Bitcoin, not Solana or other cryptocurrencies.
  - Fees: ETFs charge expense ratios management fees, which slightly reduce your returns over time. FBTC’s fee was initially set very competitively.
  - No Staking Rewards: You do not earn staking rewards by holding an ETF, as you would by directly staking SOL.

2. Blockchain and Crypto-Themed ETFs/Mutual Funds

Fidelity offers various thematic ETFs and mutual funds that invest in companies involved in the broader blockchain and crypto ecosystem, rather than directly holding cryptocurrencies.

Fidelity Metaverse ETF FMET: While not exclusively crypto, this ETF invests in companies that develop, manufacture, distribute, or sell products or services related to the metaverse. Many of these companies may be involved in blockchain technology, NFTs, or virtual economies that utilize cryptocurrencies.
Other Thematic Funds: Fidelity or third-party providers might offer other funds that focus on:
- Crypto Miners: Companies that mine Bitcoin or other proof-of-work cryptocurrencies.
- Blockchain Technology Providers: Companies developing underlying blockchain infrastructure, software, or services.
- Crypto Exchanges or Custodians Publicly Traded: Shares of companies like Coinbase COIN or other publicly traded crypto firms.
- Semiconductor Companies: Companies that produce the chips essential for crypto mining or blockchain operations.
  - Diversification: You gain exposure to a basket of companies, diversifying risk compared to investing in a single crypto asset or company.
  - Traditional Investing: These are familiar investment vehicles traded on regulated exchanges.
  - Indirect Exposure: You benefit from the growth of the blockchain industry, even if you don’t directly hold crypto.
  - Indirect Exposure: The performance of these funds is tied to the stock market performance of the underlying companies, not directly to the price movements of cryptocurrencies like Solana. A company’s stock might perform poorly even if crypto prices rise, or vice versa.
  - No Direct Crypto Holdings: You do not own any cryptocurrency directly.

3. Investing in Publicly Traded Companies with Crypto Holdings or Initiatives

You can research and invest in individual publicly traded companies that have significant Bitcoin holdings on their balance sheets e.g., MicroStrategy, MSTR or companies that are heavily invested in blockchain technology and crypto initiatives.

Benefits:
- Direct Stock Ownership: You own shares in a company with transparent financial statements and traditional corporate governance.
- Familiarity: Trades just like any other stock in your Fidelity account.
Limitations:
- Company-Specific Risk: Your investment is subject to the specific business risks of that company, not just the crypto market.
- Indirect Exposure: The company’s primary business may not be crypto, so its stock price might not perfectly track crypto prices.

Important Considerations for All Crypto Exposure Methods:

Volatility: While traditional investment vehicles, the underlying assets cryptocurrencies or related businesses are often highly volatile. Be prepared for significant price swings.
Due Diligence: Thoroughly research any ETF, mutual fund, or company before investing. Understand its strategy, holdings, fees, and risks.
Risk Tolerance: Only allocate capital that you are prepared to lose, as both direct crypto and crypto-related investments carry substantial risk.
No Direct Solana Exposure: None of these options provide direct, dedicated exposure to Solana SOL. If your primary goal is to invest specifically in SOL, you would need to do so directly on a crypto exchange.

Conclusion and Final Considerations

Navigating the intersection of traditional finance and the burgeoning world of digital assets requires a clear understanding of what’s currently possible and what’s not. The core takeaway from this is unequivocal: you cannot directly transfer Solana SOL or any other cryptocurrency into a traditional Fidelity brokerage account. Fidelity, as a highly regulated financial institution, operates within established frameworks for securities and fiat currency, and the direct custody of diverse cryptocurrencies for retail investors falls outside their current offerings.

The pathway to accessing your Solana’s value within your Fidelity ecosystem involves a multi-step process that leverages the existing financial infrastructure:

Sell Your Solana on a Reputable Cryptocurrency Exchange: This is the essential first step, converting your SOL into fiat currency e.g., USD. Choosing a secure and compliant exchange is paramount.
Withdraw Fiat Currency to Your Linked Bank Account: Once sold, the fiat proceeds need to be transferred from the exchange to your traditional bank account, typically via ACH or wire transfer.
Deposit Funds into Your Fidelity Account: Finally, from your bank account, you can easily transfer the funds into your Fidelity brokerage account using their standard electronic transfer methods.

This entire sequence effectively bridges the gap between decentralized digital assets and centralized traditional investments.

However, as we’ve explored, each step comes with its own set of considerations: How to convert Solana to cash on crypto com

Security: Protecting your private keys, enabling 2FA, verifying addresses, and being perpetually vigilant against phishing and scams are not merely suggestions but absolute necessities to safeguard your assets. In the crypto world, you are your own primary line of defense.
Tax Implications: Selling Solana for fiat, or trading it for another crypto, constitutes a taxable event. Understanding capital gains/losses, distinguishing between short-term and long-term holdings, and maintaining meticulous records are critical for compliance. Consulting a tax professional specializing in digital assets is always advisable.
Fees and Timelines: Be mindful of the various fees associated with exchanges trading, withdrawal and banks wire transfers, as well as the processing times involved in each step of the transfer, which can range from seconds to several business days.

For those who wish to gain exposure to the digital asset space without the complexities of direct crypto custody and transfers, Fidelity does offer regulated alternatives.

These include investing in spot Bitcoin ETFs like FBTC or blockchain-themed ETFs/mutual funds that hold shares of companies involved in the crypto ecosystem.

While these don’t provide direct Solana exposure, they offer a familiar, regulated way to participate in the broader trend.

In essence, transferring Solana to Fidelity isn’t a direct drag-and-drop operation.

It’s a structured process of conversion and re-integration into the traditional financial system.

Frequently Asked Questions

Solana is a high-performance blockchain platform designed for decentralized applications dApps and crypto projects.

Its native cryptocurrency is SOL, used for transaction fees, staking, and governance.

It’s known for its high transaction speeds and low costs.

Can I directly transfer Solana SOL into my Fidelity brokerage account?

No, you cannot directly transfer Solana SOL or any other cryptocurrency into a traditional Fidelity brokerage account.

Fidelity’s standard brokerage accounts are designed for traditional assets like stocks, bonds, mutual funds, and ETFs. How to convert visa gift card to Solana

Why won’t Fidelity accept direct crypto transfers?

Traditional financial institutions operate under strict securities laws and require specialized infrastructure for handling crypto assets.

What is Fidelity Digital Assets FDA?

Fidelity Digital Assets FDA is a separate entity within Fidelity that provides enterprise-grade solutions for institutional investors e.g., hedge funds, corporations for secure custody and trading of a limited number of cryptocurrencies like Bitcoin and Ethereum.

It is not available for direct retail crypto transfers.

What is the process to get Solana’s value into my Fidelity account?

The process involves three main steps: 1 Sell your Solana for fiat currency e.g., USD on a reputable cryptocurrency exchange.

Withdraw the fiat currency from the exchange to your linked traditional bank account.
Deposit the funds from your bank account into your Fidelity brokerage account via electronic transfer ACH or wire.

Which cryptocurrency exchanges support Solana SOL trading?

Many major cryptocurrency exchanges support Solana SOL trading, including Coinbase, Kraken, Binance.US, Crypto.com, and KuCoin.

When choosing an exchange, consider its regulatory compliance, fees, liquidity, and security features.

How do I sell Solana on a crypto exchange?

After depositing your Solana to an exchange, navigate to the trading interface, select the SOL/USD or your local fiat currency trading pair, choose an order type e.g., market order for immediate sale or limit order for a specific price, enter the amount of SOL you want to sell, and confirm the transaction. How to transfer Solana to wallet etoro

What is a Solana wallet and why do I need one?

A Solana wallet is a software or hardware application that allows you to store your private keys, send and receive SOL and other Solana-based tokens SPL tokens, and interact with dApps on the Solana network.

You need one to hold and manage your SOL outside of an exchange.

What are common Solana wallets?

Popular Solana software wallets include Phantom and Solflare browser extensions and mobile apps. For higher security, hardware wallets like Ledger Nano S/X and Trezor Model T also support Solana, typically integrating with software wallets for dApp interaction.

What is the difference between a hot wallet and a cold wallet?

A hot wallet software wallet like Phantom is connected to the internet and is convenient for frequent transactions but generally less secure.

A cold wallet hardware wallet like Ledger stores your private keys offline, offering the highest level of security for long-term storage.

How do I transfer Solana from my wallet to an exchange?

Open your Solana wallet, initiate a “Send” or “Withdraw” transaction, paste the Solana deposit address provided by your chosen exchange, enter the amount, and confirm.

Always double-check the address and ensure you select the correct Solana network.

What are the typical fees for selling Solana and withdrawing fiat?

Fees vary by exchange.

They can include trading fees taker/maker fees, crypto withdrawal fees, and fiat withdrawal fees.

ACH transfers are often free or low-cost, while wire transfers typically incur higher fees from your bank. How to change Solana to gbp

How long does it take to withdraw fiat from a crypto exchange to my bank account?

ACH transfers typically take 3-5 business days.

Wire transfers are faster, often completing within 1-2 business days, but usually come with higher fees.

What are the tax implications of selling Solana?

Selling Solana for fiat currency or trading it for another crypto is a taxable event.

You’ll incur capital gains or losses, which are taxed differently depending on your holding period short-term: one year or less, taxed at ordinary income rates.

Long-term: more than one year, taxed at preferential rates.

Do I need to report staking rewards for Solana?

Yes, if you stake Solana and earn rewards, these are generally considered ordinary income at the time you receive them, based on their fair market value. You must report these as income for tax purposes.

What records should I keep for crypto tax purposes?

Keep meticulous records of: date of acquisition and disposition, cost basis purchase price + fees, sales price selling price – fees, number of units involved in each transaction, and exchange transaction histories. Crypto tax software can assist with this.

What are common security best practices when dealing with crypto?

Always protect your private keys/seed phrases store offline, enable Two-Factor Authentication 2FA everywhere preferably authenticator apps, not SMS, verify all recipient addresses meticulously, be wary of phishing and scams, use strong unique passwords, and keep all software updated.

Can I invest in crypto through Fidelity without directly buying SOL?

Yes, Fidelity offers alternative ways to gain crypto exposure within a regulated environment.

You can invest in spot Bitcoin ETFs like Fidelity Wise Origin Bitcoin Trust – FBTC or various blockchain and crypto-themed ETFs/mutual funds that invest in companies related to the crypto industry. How to convert your crypto to Solana

What are the benefits of using a spot Bitcoin ETF like FBTC?

Benefits include ease of access within your existing Fidelity account, Fidelity handling the secure custody of the underlying Bitcoin, regulatory oversight from the SEC, and eligibility for traditional retirement accounts IRA/401k, providing exposure to Bitcoin’s price without direct crypto management.

Is investing in crypto via Fidelity alternatives safer than direct crypto purchases?

While any investment carries risk, investing in spot Bitcoin ETFs or blockchain-themed funds through Fidelity typically offers more regulatory oversight, custodial security handled by a regulated institution, and the convenience of trading within a familiar brokerage account, potentially reducing some operational risks associated with direct crypto purchases and self-custody.

How to transfer Solana to fidelity