As of November 29, 2023, new crypto accounts cannot be opened. Existing crypto account holders have the option to migrate to Blockchain.com on December 19, 2023. Otherwise, coins will be liquidated and the proceeds moved to the linked Active Investing account.
We have 22 Crypto Currencies available to trade through SoFi.
Basic Attention Token (BAT)
Bitcoin Cash (BCH)
Enjin Coin (ENJ)
Ethereum Classic (ETC)
The Graph (GRT)
We generally evaluate cryptocurrencies on a number of key factors before we decide they should be made available to trade on the SoFi Invest platform:
- Feasibility: We can establish a custody and trading solution with a trusted partner (e.g., Coinbase).
- Asset Values: The asset aligns with SoFi’s values, such as promoting financial inclusion and economic freedom.
- Legal and Compliance: We can legally offer the asset, per SoFi Crypto’s current licensing.
- Market Supply: Meets liquidity standards, including market capitalization and distribution of volume.
- Market Demand: Demand internally from both SoFi members and externally from developers, the community, and external stakeholders.
- Technology: The code is open-source with a demonstrated track record of governance, scalability, security, and backed by a strong engineering team and growing community of contributors.
We typically source this information from validated and verified crypto research sites, data sources like Coinmetrics, asset ratings from the Crypto Rating Council, and custody and trading partners, like Coinbase. While we are agnostic with regard to specific blockchain protocols, we focus our efforts on protocols and technologies that have proven security and are less susceptible to attacks.
Please Note -
*Due to a pending update to our Crypto license with New York, New York residents are not able to purchase newly added Cryptocurrencies. However, New York residents are still able to trade Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).