BTCLIVE
BTC price on Oct 8, 2026 at 5pm EDT
$81,750 or above1.96x51%
$82,000 or above5.26x19%
Buying Bitcoin through SoFi Crypto is really easy. If you are already using the app to access banking or investing, there is no need to shift funds to a separate exchange first, as Bitcoin is now included in the ecosystem.
This convenience is the primary appeal of SoFi Crypto, which resumed operations in late 2025 under direct operations of SoFi Bank, but is available for buying, selling, and holding crypto.
What Is SoFi Crypto?
SoFi Crypto is SoFi Bank’s built-in cryptocurrency service.
It offers access to 29 assets, including:
- Bitcoin
- Ethereum
- XRP▲$1.39
- Solana
- Dogecoin
- Cardano
- Chainlink
- Avalanche
- Litecoin
- USDC▼$0.9998
The most notable difference from a regular crypto exchange is the interface, as there is no separate trading platform to learn and no need to fund another account if money is already being kept in SoFi Checking or Savings.
For someone who wants to buy Bitcoin occasionally, this is convenient.
Who Can Use SoFi Crypto?
SoFi Crypto is currently available to users located in the United States. You will need to:
- Be at least 18
- Have a U.S. Social Security number or ITIN
- Be a U.S. citizen, permanent resident, or qualifying non-permanent resident
- Have an eligible U.S. residential address
Some non-permanent residents are able to qualify, depending on their visa status.
SoFi does not currently offer joint or business crypto accounts. All accounts are personal and individual.
How to Buy Bitcoin with SoFi Crypto
Step 1: Open a SoFi Crypto Account
As an existing SoFi user, you can start directly within the app:
- Open Crypto.
- Select Open an account.
- Work through the short onboarding process.
SoFi will ask about how you plan to use the account, confirm personal information, and send a verification code to your phone.
Once this is complete, you will review the agreements and click Submit.
In some cases, SoFi may ask for additional identity proof.
If you are completely new to SoFi, you will need to start by creating a regular SoFi profile.
Step 2: Add Funds
If you already keep cash at SoFi, you can fund your crypto purchase from:
- SoFi Checking
- SoFi Savings
- Funds already held in SoFi Crypto
SoFi also supports purchases from Apple Pay, Google Pay, and debit cards. However, these payment methods carry an additional 2% processing fee charged by Stripe.
Those three payment methods currently share a $2,800 weekly limit and are unavailable to residents of New York.
The minimum crypto purchase is $5.
You do not actually need $100,000 or whatever Bitcoin happens to cost at the time. Bitcoin is divisible, so a $25 purchase gives you $25 worth of BTC▲$77,666.00.
Step 3: Find Bitcoin
Within the Crypto section, tap Buy and search for Bitcoin or select BTC from the list of available assets.
SoFi will display the current Bitcoin price along with some basic market information. Open the trade screen.
This is much closer to buying a stock within a banking app than a full crypto exchange, as there is very little friction, but fewer controls as well.
Step 4: Enter Your Purchase Amount
Choose where the money should come from, then enter the amount: no less than $5.
SoFi will automatically calculate the corresponding amount of BTC.
Before you confirm, make sure to select Review.
This is where you will see the quoted price and the trading fee, so it is worth considering both, as SoFi Crypto is not one of the cheapest places to trade.
Step 5: Check the Fee
SoFi utilizes monthly trading-volume tiers.
| Monthly Crypto Buy/Sell Volume | Transaction Fee |
|---|---|
| Less than $1,000 | 1.90% |
| $1,000–$4,999.99 | 1.50% |
| $5,000–$9,999.99 | 1.25% |
| $10,000 or more | 0.90% |
Most occasional users will start at 1.90%.
Your tier will be based on completed buys and sells during the current calendar month and will reset when the new month begins. Recurring purchases will count toward the total.
That fee structure is one of the main draws of SoFi Crypto.
If you buy $100 of Bitcoin from time to time, the convenience may well matter more than the savings of a few dollars on execution. If you trade frequently, it becomes much harder to ignore.
Step 6: Buy Bitcoin
Once you have checked all details and made certain that everything looks good, confirm the order.
SoFi utilizes real-time market orders for crypto.
This means that your order will execute at the available market price. You cannot currently tell SoFi to buy Bitcoin only if it falls to a specific price.
How to Set Up Recurring Bitcoin Buys
In SoFi Crypto, you can automate your Bitcoin purchases.
- Set up a Bitcoin order.
- Choose Make it recurring.
- Select the frequency.
- Enter the amount.
- Confirm.
The same $5 minimum applies.
This is useful if you prefer dollar-cost averaging rather than trying to guess Bitcoin price on any given day.
Recurring orders count toward your monthly SoFi Crypto trading volume.
Can You Send Bitcoin From SoFi to Another Wallet?
Yes. This is one of the most important upgrades to the new version of SoFi Crypto.
The old product was much more closed, but now you can withdraw Bitcoin to a compatible external wallet or another exchange. Follow these steps:
- Open up your Bitcoin balance.
- Choose Transfer.
- Enter the destination address.
- Review the network fee.
- Confirm.
Check the address twice.
SoFi gives you a 10-second cancellation window after submitting the transfer. Once the transaction is broadcast to the Bitcoin network, however, it cannot normally be reversed.
Can You Send Bitcoin Into SoFi?
Yes. SoFi Crypto also accepts incoming Bitcoin deposits. Open the Bitcoin wallet within the app and select the receiving option. SoFi will generate an address for the deposit.
When sending from another wallet or exchange, make sure you utilize the Bitcoin network and not any other.
Who Holds the Private Keys?
As long as your Bitcoin continues to remain inside SoFi Crypto, SoFi controls the wallet infrastructure.
SoFi claims that the majority of customer crypto keys are stored directly by the company with a mix of cold and hot storage, and a smaller portion may be held by a sub-custodian.
In reality, this means that SoFi Crypto is custodial.
You own the Bitcoin reflected in your account, but you are not personally holding the private keys.
If you withdraw the BTC to a self-custody wallet, that shifts the responsibility for your wallet keys to you.
Is Bitcoin at SoFi FDIC Insured?
This is an easy distinction to miss because SoFi Bank itself is FDIC insured.
Eligible cash deposits indeed have FDIC protection, but Bitcoin does not.
Crypto held through SoFi is not protected by SIPC or guaranteed by the bank either.
Under current legislation, there is simply no way to turn Bitcoin stash into an insured deposit account.
How to Sell Bitcoin on SoFi Crypto
Selling follows almost the same process as buying:
- Open up SoFi Crypto.
- Choose Sell.
- Select Bitcoin.
- Enter the amount.
- SoFi Checking
- SoFi Savings
- SoFi Crypto
If the money is to stay inside the crypto account, SoFi will use its SoFiUSD stablecoin, SOFID. If you sent the proceeds to Checking or Savings, you will receive dollars instead.
The minimum crypto sale is currently $1.
As with a purchase, it is worth reviewing the price and fee before confirming.
How Does SoFi Crypto Handle Taxes?
Buying Bitcoin with dollars normally does not create a taxable gain.
Selling or exchanging it can.
SoFi utilizes HIFO — Highest In, First Out — when determining cost basis within SoFi Crypto.
This means that the highest-cost eligible tax lot is being sold first.
Things get more complicated once Bitcoin begins to move between wallets.
If you transfer BTC into SoFi after buying it somewhere else, SoFi may not have the original cost basis automatically.
The same issue can appear after you move Bitcoin out.
Keep your own records of purchase price, date, and transfer history.
SoFi Crypto vs a Regular Crypto Exchange
SoFi Crypto makes the most sense for someone who already uses SoFi.
You can move money from your bank account into Bitcoin without setting up another platform, and you can now withdraw that BTC afterwards if you want self-custody.
This is a much stronger product than SoFi’s older crypto offering.
But it is still not trying to compete with a full trading exchange.
The starting 1.90% fee is high, there are no standard crypto limit orders, and advanced charting and professional execution tools are missing.
Final Verdict: Is SoFi Crypto Worth Using?
SoFi Crypto is best understood as a convenient Bitcoin on-ramp built into a banking app.
It does not have the lowest fees or deepest trading tools. What it does have is simplicity.
An existing SoFi customer can open the crypto section, fund a purchase from Checking or Savings, buy as little as $5 of Bitcoin, and later move that BTC to another wallet.
The ability to withdraw Bitcoin is particularly important, as it fixes one of the biggest weaknesses of SoFi’s previous crypto product.
The downside remains the 1.90% starting fee.
If convenience is the priority, SoFi Crypto is easy to understand and use. For lower cost and better execution control, a dedicated crypto exchange makes more sense.
Can I buy Bitcoin with SoFi Crypto?
Yes. Bitcoin is one of 29 cryptocurrencies currently supported by SoFi Crypto.
What is the minimum Bitcoin purchase?
How much does SoFi charge?
Trading fees start at 1.90% and decline as monthly crypto trading volume increases.
Can I transfer Bitcoin to my own wallet?
Yes. SoFi Crypto supports Bitcoin withdrawals to compatible external wallets.
No. Cryptocurrency is not covered by FDIC or SIPC insurance.
