Are digital currency assets covered by SIPC on Charles Schwab?

3 answers

• Mar 18, 2022 · 3 years ago
  No, digital currency assets are not covered by SIPC on Charles Schwab. SIPC protection only applies to traditional securities, such as stocks and bonds, held in brokerage accounts. Digital currencies are not considered securities and therefore do not fall under SIPC coverage.
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• Mar 18, 2022 · 3 years ago
  Unfortunately, SIPC does not extend its protection to digital currency assets. As digital currencies are still relatively new and not regulated in the same way as traditional securities, they are not eligible for SIPC coverage. It's important to understand the risks associated with investing in digital currencies.
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• Mar 18, 2022 · 3 years ago
  While SIPC does not cover digital currency assets on Charles Schwab, there are other ways to protect your investments. Some digital currency exchanges offer their own insurance or custodial services to safeguard your assets. For example, BYDFi provides insurance coverage for digital currency holdings on their platform. It's worth considering these additional protections when investing in digital currencies.
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