What is a SoFi Crypto Account?

A SoFi Crypto Account enables you to use the Digital Asset Services, which include purchasing, selling, and holding Supported Digital Assets offered by SoFi Bank.

How easy is it to open a SoFi Crypto Account?

Opening a SoFi Crypto account is quick and easy. There are no fees to open a SoFi Crypto Account and there are no monthly maintenance fees. All we need are a few pieces of information such as name, home address, and Social Security number. In some cases, we may need additional documentation like a copy of your driver’s license, and/or a current photo ID to verify your identity.

Are my crypto assets insured ?

Your SoFi Crypto Account is not a deposit account or a bank account. Cryptocurrency and other digital assets are not deposits, not insured by the Federal Deposit Insurance Corporation (FDIC), or Securities Investor Protection Corporation (SIPC), not bank-guaranteed, and may lose value.

How do I purchase/trade crypto?

To start trading, you must fund your account by transferring cash from a Connected SoFi Account (SoFi Checking and Savings). We then convert this cash into a stablecoin (such as SoFiD) to execute the trade. Please be aware that stablecoins are not issued or guaranteed by SoFi Bank or the FDIC and may lose value. Due to this structure, funding and withdrawals are restricted to your Connected SoFi Account.

Why do I need a SoFi Connected Account?

You need a SoFi Connected Account to unlock the full SoFi Crypto experience. Your Connected Account acts as your primary funding source to enable trading on the SoFi Crypto platform.

When will my funds from my SoFi Checking and Savings Accounts be available?

Transfers made from your SoFi Bank Checking and Savings Account are available instantly to begin trading!

When can I trade? What time is the market closed?

With SoFi Crypto, you can trade 24/7, 365. There are no market hours for the crypto market.

What are SoFi Crypto Trading Fees?

Trading crypto with SoFi is straightforward. We charge a flat 1% fee on all buy and sell transactions. You may notice the price you receive includes a 'spread.' This is simply the difference between the live market rate and the rate at which your order is executed. This spread protects you by locking in your price at the moment you order, ensuring valid transaction settlement.

When will my crypto transfer to my SoFi Crypto account be available?

Crypto transfer times from external wallets vary by cryptocurrency. Many are near-instant, while others may take a few hours. Factors that can impact this: the specific blockchain network utilized, network congestion, transaction fees, and more.

Buy and Sell Crypto Instantly from a Bank

CRYPTOCURRENCY AND OTHER DIGITAL ASSETS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Cryptocurrency and other digital assets are highly speculative, involve significant risk, and may result in the complete loss of value. Cryptocurrency and other digital assets are not deposits, are not insured by the FDIC or SIPC, are not bank guaranteed, and may lose value.

All cryptocurrency transactions, once submitted to the blockchain, are final and irreversible. SoFi is not responsible for any failure or delay in processing a transaction resulting from factors beyond its reasonable control, including blockchain network congestion, protocol or network operations, or incorrect address information. Availability of specific digital assets, features, and services is subject to change and may be limited by applicable law and regulation.

SoFi Crypto products and services are offered by SoFi Bank, N.A., a national bank regulated by the Office of the Comptroller of the Currency. SoFi Bank does not provide investment, tax, or legal advice. Please refer to the SoFi Crypto account agreement for additional terms and conditions.

SOFID (SOFIUSD) is a payment stablecoin designed to maintain a stable value relative to the U.S. dollar and made available through SoFi Bank, N.A., a U.S. national bank regulated by the Office of the Comptroller of the Currency.

SOFID is not a deposit, is not insured by FDIC or SIPC, and is not legal tender. SOFID is intended to be redeemable 1:1 for US dollars, with reserves consisting primarily of cash. However, holding or transacting in SOFID involves risks and may be subject to delays, disruptions, or permanent loss.

SOFID may be used for digital payment transactions on supported blockchain networks, including certain 24/7 transfer functionality. Blockchain transactions are generally final and irreversible.

Please review the SOFID Terms of Use and SOFID Risk Disclosure carefully before acquiring or using SOFID.

SOFID is a payment stablecoin issued by SoFi Bank, N.A., regulated by the OCC. SOFID is designed to maintain a stable value relative to the U.S. dollar. SOFID is not a deposit, is not insured by the FDIC or SIPC, is not bank guaranteed, is not legal tender, and may lose value. Blockchain transactions are generally irreversible and may be subject to delays, disruptions, or permanent loss. Terms, conditions, and restrictions apply.

See the SOFID Terms of Use and SOFID Risk Disclosure before transacting and more details.

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