The rise of cryptocurrencies has given everyday investors new ways to grow wealth and diversify financial portfolios. Among the platforms offering a streamlined entrance into the world of digital currency is SoFi Crypto Wallet. Built for ease of use and backed by a platform trusted for student loans and investing, this tool provides a user-friendly gateway to trading popular cryptocurrencies.
If you are new to cryptocurrency or if you’re simply looking for a safer, more efficient tool to manage your digital assets, understanding how to use the SoFi Crypto Wallet effectively is crucial. In this article, we’ll walk you through the process of buying, selling, and securely storing cryptocurrencies using SoFi Crypto Wallet.
What Is SoFi Crypto Wallet?
SoFi Crypto Wallet is part of the SoFi Invest platform, which allows users to buy, sell, and hold cryptocurrencies. It is not a standalone wallet like other third-party apps, but rather a custodial wallet managed by SoFi in partnership with trusted crypto service providers like Coinbase. That means your coins are stored securely, but you don’t have access to the private keys — SoFi handles those for you.
Getting Started with SoFi Crypto
Before you can start buying or selling crypto, you’ll need to set up a SoFi Invest account. Here’s how:
- Download the SoFi app from the App Store or Google Play.
- Create an account by entering your personal information and verifying your identity.
- Select “Invest” and then choose the option for cryptocurrency.
- Link a funding source, such as your bank account, to add money to your SoFi account.
Once your account is verified and funded, you’re ready to enter the world of crypto investing.
Buying Cryptocurrency with SoFi
To purchase cryptocurrency on SoFi, follow these simple steps:
- Open the SoFi mobile app or log in via the web platform.
- Navigate to the “Invest” section and select “Crypto.”
- Search for the cryptocurrency you wish to buy. SoFi currently supports popular options like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and several others.
- Click on the “Buy” button and enter the amount you want to invest (you can buy fractions of a coin).
- Confirm the transaction details and click “Submit.”
It’s that simple! Your purchase will typically process instantly, and the crypto will appear in your SoFi balance. 
Selling Cryptocurrency on SoFi
Selling your assets works much like buying them:
- Go to your crypto holdings within the “Invest” section.
- Select the currency you want to sell.
- Tap on the “Sell” button and choose the amount you’d like to offload.
- Confirm transaction details and complete the sale.
After selling, the equivalent fiat amount (in USD) will be available in your SoFi Invest account, ready to be transferred back to your linked bank account or kept for reinvestment.
Storing Cryptocurrency Safely with SoFi
SoFi’s custodial wallet takes the stress out of crypto storage. While some advanced users may prefer non-custodial wallets or hardware solutions, SoFi’s method ensures safety with minimal effort for everyday investors.
Here’s how SoFi helps keep your investments secure:
- Partnerships with respected custodians like Coinbase Custody, which implement advanced security protocols.
- Two-factor authentication (2FA) for account access, adding an extra layer of protection.
- End-to-end encryption on all data transfers.
- Continuous monitoring for unauthorized activity or breaches.
Although SoFi currently does not allow users to transfer crypto into or out of the platform, that constraint enhances the security of your assets. That said, it also limits your flexibility to use crypto outside of investing purposes.
Supported Cryptocurrencies
SoFi offers a curated list of cryptocurrencies aimed at beginner and intermediate investors. These often include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
- Chainlink (LINK)
- Dogecoin (DOGE)
The list may change based on market trends and regulatory considerations, so check the SoFi platform regularly for updates.
Fees and Limits
Using SoFi Crypto Wallet comes with minimal fees, which makes it attractive for first-time investors. Here are some key points:
- No account or subscription fees
- Transaction fee: SoFi charges a markup of up to 1.25% per crypto transaction, which is reflected in the final price.
- No minimum investment: You can start buying crypto with as little as $10.
This transparent fee structure helps users understand exactly what they’re paying without hidden charges.
Tips for Using SoFi Crypto Wallet Safely
Although SoFi has built-in security measures, you should still practice good digital hygiene when investing in crypto. Here are a few tips:
- Use strong passwords and avoid sharing them with anyone.
- Enable two-factor authentication (2FA) to make unauthorized access more difficult.
- Be cautious of phishing emails that pretend to be from SoFi — always double-check URLs and sender addresses.
- Regularly monitor your account for suspicious activity.
Following these strategies can further protect your investments and personal information. 
Pros and Cons of Using SoFi Crypto Wallet
Like any financial tool, SoFi Crypto Wallet has its advantages and limitations.
Pros:
- User-friendly interface, ideal for beginners
- No complicated crypto jargon or wallet setup
- Integrated with other SoFi products like loans, banking, and robo-advisory
- No withdrawal or deposit fees within the platform
Cons:
- No access to private keys (custodial wallet)
- Crypto cannot be transferred out to another wallet or exchange
- Fewer crypto options compared to other crypto-specific platforms
- Limited resources for advanced traders
Is SoFi Crypto Right for You?
If you’re looking for a simple, all-in-one platform to begin your crypto investment journey, SoFi Crypto Wallet could be perfect. It’s designed for ease of use while maintaining high standards of security, making it well-suited for beginners and casual investors.
However, if you’re more experienced, want full control of your crypto assets via private keys, or need access to decentralized finance (DeFi) apps, SoFi Crypto might feel limiting.
Conclusion
The SoFi Crypto Wallet offers an accessible entry point into the world of cryptocurrencies. Whether you’re buying Bitcoin for the first time or looking to expand your investment portfolio, SoFi provides a secure and convenient platform. It bridges the gap between traditional finance and digital assets, giving users a safe place to explore this rapidly evolving market.
Ultimately, understanding how to use SoFi’s crypto services responsibly and safely unlocks a valuable opportunity. As always, educate yourself, invest wisely, and maintain good security practices. The crypto world is exciting—just make sure you step into it with both curiosity and caution. 