Schwab now lets clients trade SOL, AVAX and LINK

[DKeller]

Schwab added SOL, AVAX and LINK to Schwab Crypto today so clients there now have five coins to trade, with BTC and ETH being the other two. They only opened it to all eligible retail clients in October so that was quick.

SOL I get. AVAX and LINK surprised me a bit, I’d have guessed something else would come before them. Not sure if that’s what clients asked for or just what their lawyers were fine with.

Fee is 75 bps per trade. Schwab says that’s among the lowest in the industry which might be true for brokers but not compared to any normal exchange. Then again I don’t think their clients care. They want crypto in the same account as their stocks and that’s about it.

Do you think this gets new people into bitcoin or do they just end up buying SOL because it’s on the list? And why AVAX and LINK first?

[blockman]

Fee is 75 bps per trade. Schwab says that’s among the lowest in the industry which might be true for brokers but not compared to any normal exchange.

This is around 0.75% in fee, correct me if I am wrong with that. but to say that they're the lowest, maybe for the same financial services like them they are. But, for crypto exchanges, that fee is competitive and might have lesser than that with the actual service we can get from the known exchanges we use.

Then again I don’t think their clients care. They want crypto in the same account as their stocks and that’s about it.

Yeah, I guess so. As long as they are invested and it's on Schwab, that's all they matter and they think it's safe even it's not.

Do you think this gets new people into bitcoin or do they just end up buying SOL because it’s on the list? And why AVAX and LINK first?

Why with bitcoin? if it's already there even before these additions. The choice won't matter with how their investors look at it. Those who are exploring might just choose bitcoin instead of those altcoins, different choices but can have different ideas and decisions including those 4. It's also possible that they will add more soon.

[TastyChillySauce00]

Fee is 75 bps per trade. Schwab says that’s among the lowest in the industry which might be true for brokers but not compared to any normal exchange.

This is around 0.75% in fee, correct me if I am wrong with that. but to say that they're the lowest, maybe for the same financial services like them they are. But, for crypto exchanges, that fee is competitive and might have lesser than that with the actual service we can get from the known exchanges we use.

It's cheapest among traditional brokers except E*TRADE which undercutting it for 50bps and cheaper than modern fintech brokers like Robinhood but of course it's way more expensive than most crypto exchange even if compared against taker fee.

Schwab is probably best compared to exchanges' instant swap or simple buy feature that charges way more than their normal trading market orderbook even though actually things aren't just as simple as comparing fee, there is also spread.