Financial Firm SoFi Dives Head First into Cryptocurrency
SoFi Getting into the Cryptocurrency Game
Successful financial firm SoFi announced on September 25th that it has added cryptocurrency trading to its investment platform as its 800,000+ members requested it, according to their press release. This is big news for the company as it has now become the first ever platform to offer investment opportunities for stocks, ETFs, and cryptocurrency in a single app.
SoFi have made the purchasing of Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) available to its users in an extremely easy and manageable fashion, stating that you do not even need a crypto wallet to receive your currency. This is a great step in the right direction for cryptocurrency as a whole because it will further educate users on the benefits of not being tied to just fiat currency.
To celebrate the launch of their cryptocurrency trading platform, SoFi are offering new users a $25 bonus when members sign up for a crypto account and purchase at least $10 of any cryptocurrency available within seven days. This offer is extremely generous which is why it only lasts until December 31st, 2019.
CEO Anthony Noto had this to say:
“Feedback from our members has made it clear that a significant percentage are not only interested in learning more about cryptocurrencies but are also already buying and selling crypto. We’re very pleased to be adding this new product to SoFi Invest, as access, education, and keeping costs low for our members is at the heart of what we do.”
As usual, the United States lag behind adoption as some states including New York and New Jersey will not be available for trading due to regulatory compliance issues. This is no surprise as the new Binance.US exchange recently announced that 13 states, including New York, would not be available for trading on their new platform.