Sofi Invest Bitcoin Crypto Currency Trading (2021)

Sofi Invest crypto investing account fees. How to buy or sell BAT, NEO, Ripple, Stellar, Cardano, Dogecoin, Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), and Litecoin (LTC) alt coins crypto currencies on Sofi Invest?

Can I Trade Bitcoin at Sofi Invest

More and more securities brokers are beginning to offer trading in Bitcoin and other digital currencies. SoFi Invest is one of them. With our guide, you can get set up to trade cryptocurrencies in no time.

Step One: Open a Crypto Account

If you want to trade Bitcoin at SoFi Invest, you’ll have to open a new account. Stocks and funds are held in a separate account. Your crypto account will have a completely different account number than your securities account.

Step Two: Log In

SoFi Invest requires just a single login to access multiple accounts. No matter how many you have, they will all be linked inside one SoFi login. This is a really convenient system because there’s no need to remember multiple user IDs and passwords.

The downside is that SoFi doesn’t have any type of advanced crypto trading platform. You will find only simple digital tools for research, analysis, and trading. Besides its website, SoFi Invest has a user-friendly mobile app with mostly the same interface and tools as its website cousin.

Step Three: Research Bitcoin

On both its mobile app and website, SoFi Invest offers learning materials on Bitcoin and other cryptocurrencies in case you need to do some research before choosing a coin and making an investment.

A Crypto Guide makes an appearance on SoFi’s website. This is an extensive self-education tool that provides a lot of information that Bitcoin newbies will want to take a look at. Examples of articles in the Guide include:

- How Does Bitcoin Mining Work?
- Cryptocurrency Investing Rules and Regulations
- What are the Different Types of Crypto?

After you have a general overview of the rewards and hazards of trading digital currencies, it’s time to start looking at some coin profiles.

To find these, you’ll want to click on the Invest tab that appears at the top of the website. On the mobile app, you’ll want to tap on the Invest icon that appears at the bottom of the screen.

It’s important to make sure you’re on the Invest section because SoFi has several platform areas for a variety of functions like loans and credit cards. If you’re inside one of these sectors, you won’t find the Bitcoin resources.

Sofi Crypto Currencies

Once you’re in the right area, just scroll down to the Discovery section and find the broker’s collections of tiles. These are categories of investments, like dividend growers and Crypto.

Click or tap on this latter tile and you’ll get a list of coins. During our research, we counted 30 coins, although only 5 are tradable. The 5 that are tradable have trade buttons; they are:

- Bitcoin
- Bitcoin Cash
- Litecoin
- Ethereum
- Ethereum Classic

Click or tap on an entry and you’ll get SoFi’s profile for that coin. The Bitcoin profile has news articles, a chart out to 5 years, holding information if you currently own the coin, and trading details over the past 24 hours. To add a coin to a watchlist, just tap or click on the watchlist button that appears.

The mobile app has a unique feature that the website doesn’t: on each tradable coin’s profile, there is an investor activity section that shows recent trades from other SoFi Invest members.

Open Sofi Invest Account

Open Sofi Account

Step Four: Place a Trade

To pull up the broker’s trade ticket, you can simply click or tap on the Buy Now link that appears on each line for the 5 tradable coins. There is also a buy button on a coin’s profile. If you currently own a coin, there will also be a sell button.

SoFi Invest offers recurring purchases of Bitcoin and other cryptos. To take advantage of this great feature, just click on the blue Add a recurring purchase button that appears on the website. On the mobile app, you first need to tap on the blue Buy button and then tap on Add a recurring investment.

SoFi Invest does have a $10 minimum on the buy side (and a $50,000 maximum). On the sell side, there are minimums for three coins:

0.001 BTC
0.01 ETH
0.1 LTC

Cost of Bitcoin Trading

You didn’t think all of this was free, did you? Although SoFi Invest likes to advertise all of its free services, and it does have a lot, Bitcoin trading is a different story altogether.

Every crypto transaction costs 1.25% of principal—and there is no maximum.

Bitcoin Promotion

To entice new customers to its cryptocurrency trading service, SoFi Invest has an on-going promotion. Just place an order for any cryptocurrency with at least $10, and the broker will credit your account with $10 of Bitcoin.

Open Sofi Invest Account

Open Sofi Account