Summary: If you are a Sofi customer looking to invest in cryptocurrencies like Bitcoin, we suggest opening a free account with FinCEN-regulated eToro. This is a beginner friendly platforms is regulated, safe to use and that offers 1,000s of digital assets. You can signup in two minutes and then deposit funds for free via bank transfer or via credit/debit card.
+3000 Cryptos, Stocks, ETFs
0% Fees on Stocks & ETFs
30M Users & 140 Countries
Regulated & Safe Platform
While customers of Sofi can buy cryptocurrencies via the platform, we don’t recommend this for several reasons.
First of all, the transaction fees are a hefty 1.25% per trade and their selection of cryptocurrencies is quite limited with only 40 cryptocurrencies available.
Instead, we recommend Sofi alternatives like eToro that offer lower trading fees and much wider range of digital assets like stocks, crypto, ETFs and more!
If you're interested in buying cryptocurrencies, we suggest signing up for an exchange such as eToro.
This platform is regulated by FinCEN in the United States and have been operating safely for over a decade.
It's ideal for beginner investors as it's really easy to use and offer a variety of cryptos beyond Bitcoin and Ethereum.
Signup only takes a few minutes and you can then deposit funds via either a bank or card transfer.
Bank transfers typically take a few hours to but they do not incur a deposit fee. Card transfers on the other hand are instantaneous but come with a fee.
1. Create Account: Signup and add your identity verification.
2. Deposit Funds: Via your Sofi account or credit card/debit card.
3. Start Buying: Once your deposit has arrived in your account.
Yes, Sofi allows the buying and selling of cryptocurrencies on its platform.
There are several reasons why we don’t recommend buying cryptocurrencies through Sofi. First of all, Sofi charges a steep 1.25% fee on each transaction. Further, Sofi only provides access to a limited number of cryptocurrencies.
Sofi currently offers its customers the ability to buy and sell 40 cryptocurrencies such as Bitcoin, Ethereum, Solana, Litecoin, Dogecoin, Polkadot, Filecoin, Uniswap, Brave and a few others.
SoFi adds a 1.25% fee for each crypto transactions that is made on its platform. This is a very high fee that can be lowered by using platforms like Uphold and eToro.
Sofi is not a crypto wallet but a platform where Sofi customers can buy and sell digital assets like Bitcoin, Ethereum and a small selection of other cryptocurrencies. Sofi is not a cryptocurrency wallet but a closed system where crypto assets can’t enter or leave.
Sofi is not a cryptocurrency wallet but rather a platform that enables Sofi customers to purchase and sell digital assets in a closed system where assets can’t be transferred in our out.
Sofi is a financial technology company that was founded in 2011 by Mike Cagney, Dan Macklin, James Finnigan, and Ian Brady. Sofi is headquartered in San Francisco, California and has more than 2,000 employees.
The company was initially focused on refinancing student loans but quickly pivoted to the lending industry. The company eventually expanded its services to include additional financial services such as:
1. Personal Loans: Low-rate loans for refinancing and debt consolidation
2. Investment Accounts: Automated investing
3. Student Loan Refinancing: Lower rates and custom payment options
4. Life Insurance: Fast affordable coverage
5. Mortgage: Pre-approved and refinancing
6. Credit Cards: Cash b and no fees
7. Home Equity: Low rates and no closing costs
8. Auto Refinancing: With lower monthly payments
Through these products, Sofi has become a major player in the financial services industry with 4 million members and more than $20 billion in assets under management. The company has received several awards, including being named one of Fortune’s Most Innovative Companies in 2016.
+3000 Cryptos, Stocks, ETFs
0% Fees on Stocks & ETFs
30M Users & 140 Countries
Regulated & Safe Platform
