In recent years, cryptocurrency has grown from a niche investment to a mainstream financial asset. From Bitcoin to Ethereum and thousands of altcoins in between, crypto is now an essential part of many portfolios. As demand has surged, traditional brokerages have begun integrating crypto access into their platforms. One such platform frequently discussed is thinkorswim by TD Ameritrade. This article explores the pressing question: Can I buy crypto on thinkorswim?
Understanding thinkorswim
What is thinkorswim? Thinkorswim is an advanced trading platform offered by TD Ameritrade, designed primarily for active traders. It offers robust features for trading stocks, options, futures, and forex. The platform is highly regarded for its technical analysis tools, customizable interface, and real-time data.
thinkorswim and Cryptocurrency Access
Direct Crypto Trading: Not Available
As of 2025, thinkorswim does not support direct cryptocurrency trading. Unlike platforms such as Coinbase or Binance, thinkorswim does not allow users to purchase, sell, or hold actual cryptocurrencies like Bitcoin or Ethereum.
Why Doesn’t thinkorswim Offer Crypto Trading? There are a few reasons for this:
- Regulatory Environment: Cryptocurrency regulations are still evolving in the U.S. Brokers like TD Ameritrade often prefer to tread cautiously.
- Custody and Security: Handling crypto assets requires different infrastructure and security protocols compared to stocks or ETFs.
- Business Focus: TD Ameritrade and thinkorswim focus on traditional assets, and crypto might not align with their core business model.
Indirect Crypto Exposure Through thinkorswim
While you can’t buy crypto directly on thinkorswim, there are multiple ways to gain exposure to the crypto market through the platform:
a. Cryptocurrency Stocks You can trade shares in companies that are directly involved in the cryptocurrency industry. Examples include:
- Coinbase (COIN) – A leading cryptocurrency exchange.
- MicroStrategy (MSTR) – A tech firm that holds large amounts of Bitcoin.
- Riot Platforms (RIOT) and Marathon Digital Holdings (MARA) – Companies that mine cryptocurrencies.
b. Bitcoin Futures Thinkorswim offers access to Bitcoin futures via the CME (Chicago Mercantile Exchange). This is a derivative contract that allows traders to speculate on the future price of Bitcoin. However, it’s worth noting:
- Futures are not for beginners.
- They involve leverage, which can magnify gains or losses.
- They require approval to trade futures on thinkorswim.
c. Crypto ETFs and Trusts Several exchange-traded funds (ETFs) and trusts offer indirect exposure to cryptocurrencies. Examples include:
- ProShares Bitcoin Strategy ETF (BITO)
- Grayscale Bitcoin Trust (GBTC)
- Bitwise Crypto Industry Innovators ETF (BITQ)
These financial instruments track the performance of crypto or crypto-related companies and can be traded like stocks.
How to Access Crypto Exposure on thinkorswim
Step-by-Step Guide:
- Open a TD Ameritrade Account: Thinkorswim is offered through TD Ameritrade, so you must first have an account there.
- Download thinkorswim: Available on desktop, web, and mobile.
- Search for Crypto-Related Assets: Use the platform’s ticker search to find assets like COIN, BITO, or GBTC.
- Analyze and Trade: Utilize thinkorswim’s advanced tools to chart and analyze crypto-related assets.
Pros and Cons of Using thinkorswim for Crypto Exposure
Pros:
- Advanced trading tools: Ideal for technical analysts.
- Regulated environment: Lower risk of fraud or hacking.
- Diversified portfolio: Combine traditional and crypto-related assets.
Cons:
- No direct crypto purchases
- Limited asset choices compared to crypto exchanges
- Requires trading approval for futures
Comparing thinkorswim to Crypto-Focused Platforms
| Feature | thinkorswim | Coinbase | Binance | Robinhood |
|---|---|---|---|---|
| Direct Crypto Trading | No | Yes | Yes | Yes |
| Crypto Derivatives | Yes (futures) | Limited | Yes | No |
| Stock/Crypto Integration | Yes | No | No | Yes |
| Advanced Charting Tools | Yes | Moderate | High | Low |
Future of Crypto on thinkorswim
The demand for crypto access is undeniable. While TD Ameritrade and thinkorswim do not currently support direct crypto trading, this may change. The financial industry is increasingly warming up to crypto, and many competitors now offer integrated crypto services.
Possible Developments:
- Integration with a third-party crypto exchange
- Introduction of crypto custody services
- Expansion of ETF and futures offerings
Alternatives for Buying Crypto Directly
If your goal is to buy and hold actual cryptocurrency, you’ll need to use a dedicated platform. Popular options include:
- Coinbase – User-friendly, great for beginners
- Binance.US – Low fees and wide coin selection
- Kraken – Strong security and trading tools
- Gemini – Regulated and secure
You can always use thinkorswim for analysis and execute trades on a crypto platform.
Is Crypto Right for You?
Before investing in crypto or crypto-related assets, consider the following:
- Volatility: Crypto prices can swing dramatically.
- Regulatory Risks: Laws and regulations can impact crypto access.
- Security: Safeguarding private keys and avoiding scams is crucial.
- Diversification: Crypto should be part of a broader strategy.
Conclusion
To answer the core question: No, you cannot directly buy crypto on thinkorswim. However, the platform offers robust options for gaining indirect exposure to the crypto market. From futures to ETFs and stocks of crypto companies, thinkorswim provides multiple avenues for investors to participate in the digital asset space.
For those who value technical tools, regulated trading environments, and broad portfolio options, thinkorswim remains a top-tier platform. However, those wanting to own and transfer actual cryptocurrencies will still need to rely on dedicated crypto exchanges.
As we move further into 2025, it’s worth watching how traditional platforms like thinkorswim evolve in response to the growing dominance of digital assets.