Posted by William Charles on September 26, 2019
Deals

Published on September 26th, 2019 | by William Charles

60

SoFi Crypto: Invest $10 & Get A $25 Bonus

Update 9/26/19: Deal is back and now publicly available

The Offer

Direct link to offer

  •  SoFi is offering bonus of $25 when signing up for SoFi Crypto. To receive the bonus you need to invest at least $10 into cryptocurrency (BTC, ETH or LTC)

The Fine Print

  • Only applies to new SoFi Crypto accounts.
  • Limited to 1 per person.
  • It takes 1 business day for your SoFi Invest deposit to settle before you can buy crypto.

Our Verdict

Looks like a fairly easy $25. Nice to see that it’s publicly available now.

 



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Steve

Some general info (but not about the bonus) at https://www.sofi.com/invest/buy-cryptocurrency/

It seems kinda like Robinhood; not really buying crypto since they don’t let you withdraw it (you can just buy and then sell); it’s more like betting on the price.

Anonymous166
Anonymous166

Dumb. Not your keys, not your coins.

dayTradeIt
dayTradeIt

To be expected. Those easy-to-use apps (SoFi, Voager etc) usually are targeted towards people just dabbling in crypto

parkdanil
parkdanil

$10 won’t get you much crypto at today’s prices, but a $25 bonus is well worth it.

Brian C
Brian C

What’s confusing is that when you follow the instructions to purchase the crypto there doesn’t seem to be a part of the process where you open a new account, but the promo terms mention opening a new account…

blank check
blank check

same situation.. did you get your bonus?

Kyle ❤
Kyle ❤

Just got this email. I already have an account so it did not have me open anything new. I went to purchase $10 worth of BTC and it had me transfer money into my active investing account. It said it should take a day or two so hopefully it makes in time for the 9/13 deadline.

Kyle ❤
Kyle ❤

Just a follow up, I was able to purchase the BTC just now. In transferring the money it did add a separate account for crypto with a separate account number from my active investing account.

Kyle ❤️
Kyle ❤️

Purchased Crypto 9/12/2019
Received $25 bonus in my investment account 9/13/2019

dpaquett
dpaquett

When you purchased the crypto did it invest the full $10? I did it yesterday but only $9.98 of the $10 actually went through.

Kyle ❤️
Kyle ❤️

That did happen. I purchased $10 of BTC which only ended up being 9.98 but I also purchased $10 of LTC so it wasn’t an issue. Terms do state this expired on 9/13 so you may have missed the boat if you only did it yesterday.

Daniel Paquette
Daniel Paquette

Sorry, meant the day before, my crypto buy went through on the 13th. I only got the offer email on the 12th so I barely made it. Still no $25 though, fingers crossed.

Kyle ❤
Kyle ❤

Cutting it real close, I hope it still counts for you! Only receiving it on the 12th is a good case for emailing them I would say. The terms do state they will deposit the bonus within 7 days. I got an email from them saying that if I put just $1 in an investment account that they would put $25 in stock bits in my account so I did even though the account had already been open and funded. When I did not recieve the bonus in the quoted number of days, I emailed them about it. They said the email was mistakenly sent out but they still honored the bonus. They seem to be super customer oriented!

dpaquett
dpaquett

The $25 showed up in my account today, thanks for your help!

Kyle ❤️
Kyle ❤️

Nice, I’m glad it panned out! I tried to sell off the BTC and found out that the minimum you can sell is .0001 meaning my 9.98 investment is too little to sell. fortunately that means I only need to purchase like $0.20 to then be able to sell it.

ben
ben

How did they credit your account? Was it a statement credit or a crypto purchase that i have to later sell? If its a crypto credit, what type so i would have to match up my $10 purchase with $25 credit

Kyle ❤️
Kyle ❤️

Cash bonus, deposited into my investment account.

Don L

William Charles I believe this bonus is back (and probably not targeted) as it’s showing on the SoFi home page. https://www.sofi.com/homepage/

I just made a purchase will report back if bonus posts. (Also uploaded a couple screen shot images to the site if interested).

Matt D.
Matt D.

It looks like the difference this time around in the fine print is $25 in crypto bonus vs. last time it was 25 in cash you could withdraw to your money account I think.

Don L

As a quick report back, checked today and the $25 bonus has posted.

Jay
Jay

Not available in North Carolina 🙁

SDubbs
SDubbs

It’s available now in NC (fellow North Carolinian here).

CryptoChrist
CryptoChrist

Chuck Having used a separate email for my money and invest accounts upon open, my Money account was targeted for the crypto $10 for $25 last week.

Using my separate invest account, I purchased $10 in crypto just now and received the $25.

Depending on your situation, you could receive this bonus twice with it becoming public.

I have a theory if you received the targeted offer earlier. A freshly opened invest account will allow you another $10 for $25 from the public offer.

Only difference with my Money and Invest accounts are the emails.

blank check
blank check

I just have a brokerage account with SoFi. When I click on the “get started” from the crypto page while not logged in, it takes me to sign-up page. When I put my typical SoFi brokerage e-mail, it says I already have an account. So I log in and go back to the crypto page click “get started” but nothing happens.. it takes me to my brokerage dashboard.

I’m not sure how to actually open the crypto account. Anyone else?

Tommy
Tommy

I am experiencing the same. I am wondering if it’s not available in my area yet?

Steve
Steve

Yeah if you look at the FAQs they are only in ~40 states (not NY or NJ yet) so that’s likely the reason

SD
SD

Im in NJ and i couldnt do it also

ren
ren

Yeah, same here. When I go to my SoFi Invest account, I can search for BTC, but the next screen that shows the price also reads “Stay tuned for crypto trading! In the meantime, click Follow to keep tabs on this coin and get notified when buying is available.”
I’m not sure if it’s because I didn’t have any free cash “buying power” in the account (it’s all in stocks). When I transferred $10 over yesterday, I recall it saying it would take a few days to be available for crypto trading. I assumed they were heading off some kind of scams (transfer money, buy anonymous BTC, cash in BTC, then discover funds are not good).
I was just going to wait a few days, but guess I could contact them to find out why.

ren
ren

Yeah, when I transfer from Money I get a message “Start buying stocks for free. Or give it another 1-2 business days and it’ll be available for crypto, too.”

Steve
Steve

Probably a state issues.

blank check
blank check

Also, can we buy $10 of ETH, BTC, LTC and then immediately transfer back to USD?

blank check
blank check

Just a DP: My $25 BTC bonus posted within 10 minutes of completing a $10 LTC purchase 🙂 easiest $25 bucks ever.. can we get these kind of promotions everyday? lol

L.B.P
L.B.P

My question is can we opt to withdraw the 25.00 dollars out of the account after it has been deposited ???

CryptoChrist
CryptoChrist

Yes, you can sell the deposited BTC the instant it is provided to you.

Crypto
Crypto

Can’t seem to sell off the crypto completely. I entered the full amount shown and still ended up with 15 cents in crypto, which I can’t sell as it’s below the minimum.

Kyle ❤️
Kyle ❤️

With market fluctuation it may adjust before completing the transaction. I had to buy more as you can’t sell $10 or less. I still have a fraction of LTC that is worth less than $0.01. It’s not hurting anything just sitting there though.

Crypto
Crypto

I wonder if those small amounts that can’t be sold will still end up generating tax forms every year? There has to be a way to sell off the rest if no longer interested in investing in crypto?

Kyle ❤️
Kyle ❤️

0 in interest wouldn’t require any additional work at tax time but probably an email to SoFi forfeiting the remainder and closing the account I would assume.

Steve

There wouldn’t be any taxable event if the BTC just sits there and you don’t sell it.

(Actually, crypto exchanges so far haven’t been generating tax forms yet at all, even if you sell, though you’re supposed to still report it on your taxes (but again, only if you sell). Though, since SoFi is more of a traditional stock brokerage, maybe they’re more likely to send a 1099 when you sell.)

Flea
Flea

Interesting… as I’m currently getting the following:

Stay tuned for crypto trading! In the meantime, click Follow to keep tabs on this coin and get notified when buying is available.

Steve
Steve

Probably not available in your state

Flea
Flea

I think you are correct, as I remember seeing it somewhere in another article I couldn’t then find again (that they were still working out process for NY and NJ).

ren
ren

By the way, Bitcoin is down from $10,000 in the beginning of September to $8,000 today.

dayTradeIt
dayTradeIt

Hopefully not for long. That 44% drop was scary!

wrangler1980
wrangler1980

I got the $25.00 bonus within 10-15 minutes. I already had the Money and Invest accounts so after logging in it took me to the crypto page.

ren
ren

UPDATE: Yes, as others have said, it depends on your state whether you can buy crypto. My current state was banned. So, I just updated my address to an approved state, and I was able to buy $10 BTC and get the $25 bonus. I actually have an address in that state, but you could probably change it, get the bonus, sell the BTC, and change the addy back.
List of states in FAQ here: https://www.sofi.com/invest/buy-cryptocurrency/

Q: Where can I trade crypto with SoFi Invest? −
SoFi Invest is available for crypto trading in Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, Montana, Nebraska, New Hampshire, New Mexico, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, Washington DC, Wisconsin, and Wyoming.

Jonathan
Jonathan

Did you update both your home address AND mailing address? Have there been any problems yet?

SDubbs
SDubbs

Some states have been added it seems since this was posted (e.g., North Carolina).

eksabajt
eksabajt

FYI, do the SoFi Invest brokerage bonus first. This will create the brokerage account for you and you won’t be able to do that bonus after this one.

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