Buy Crypto With Sofi The Right Way

Can I buy crypto with Sofi? 

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.  

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How to buy crypto with Sofi?

If you're interested in buying cryptocurrencies, we suggest signing up for an exchange such as Uphold or eToro. They are both regulated by FinCEN in the United States and have been operating safely for over a decade. 

They are ideal for beginner investors as they are 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 1-2 business days to process, but they do not incur a deposit fee. Card transfers on the other hand are instantaneous but come with a fee.

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How to sign up

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.

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Sofi Crypto

In this section we have outlined and answered some of the most common questions that people have about Sofi as it relates to cryptocurrencies.

1. Does Sofi allow cryptocurrency? 

Yes, Sofi allows the buying and selling of cryptocurrencies on its platform. 

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2. Is Sofi a good place to buy crypto?

‍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. 

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3. Sofi cryptocurrency list

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. 

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4. What are Sofi crypto fees?

‍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.

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5. Is Sofi a crypto wallet? 

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. 

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6. Can I withdraw crypto from SoFi?

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. 

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7. Is Sofi crypto-friendly? 

Yes, Sofi is a crypto-friendly company that offers exposure via their platform to 40 cryptocurrencies.

What is Sofi?

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.