Why is the migration happening?
SoFi has partnered with Blockchain.com to enhance the crypto offering available to their users. There are still many SoFi members who would like to access crypto investing, so SoFi have worked closely with us to allow them to join our community.
When will the migration take place?
The migration is scheduled to begin on December 19th, and take about 48 hours. Users will be able to resume their crypto trading within their new Blockchain.com Account after the migration is complete.
How secure is Blockchain.com?
Blockchain.com boasts a legacy of 12 years in the crypto industry, making it one of the oldest and most reputable platforms. Our commitment to security, stability and compliance ensures a safe haven for you to store and trade crypto.
To learn more about staying safe with crypto, check out the Blockchain.com Security FAQs here.
Will my funds be safe during the migration?
Absolutely. Behind the scenes, we’ve worked closely with SoFi to ensure a smooth transition. Your funds will be moved to your Blockchain.com Account with minimal disruption to you, and upon completion you can resume trading without any concerns.
What’s different about Blockchain.com?
With the movement to your Blockchain.com Account, you’ll gain access to more tokens*, self custody options, and advanced trading features.
- More Tokens: The Blockchain.com Wallet offers dozens of assets, not just Bitcoin and Ethereum.
- All in One Place: Buy, sell, swap, and self-custody your crypto in one app.
- DeFi Wallet Access: Blockchain.com empowers users with the option to self-custody their crypto using our DeFi Wallet. This means you have greater control over your assets and can explore the decentralized finance space seamlessly.
- Advanced Trading Features: Seamlessly buy and sell, and access Recurring Buy, swap crypto-to-crypto, and more.
- Educational Resources: Our commitment to user empowerment extends beyond the platform. Access a wealth of educational resources on Blockchain.com to stay informed and make confident decisions in the crypto space.
*If you live in HI, LA, NV, TX, TN, or VA certain tokens will not be available. Check below in the section What should I know about the migration if I live in HI, LA, NV, TX, TN, or VA? to learn more.
Are there new trading features on Blockchain.com?
Yes. Blockchain.com offers seamless buy and sell of dozens of assets, as well as trading tools like Recurring Buys and swapping crypto-to-crypto.
How can I get assistance if I have other questions during the migration?
The Blockchain.com and SoFi Support Teams are ready to assist you. You can contact Blockchain.com 24/7 through our Support Portal.
Before the migration (prior to December 19th 2023) you can chat or call SoFi at (855) 525-7634.
Why are some of my assets on hold?
All SoFi members are subject to a withdrawal lock for the 48 hours after you complete your migration. You’re still able to trade, you just won’t be able to withdraw your assets from Blockchain.com.
If you made a fiat (USD) deposit to SoFi between 29th November 2023 and 19th December 2023, then a withdrawal lock is in place for 60 days starting from the date of deposit. Each deposit will have its own withdrawal lock. For example, a $5k deposit on 29th November 2023 will be on hold ‘til 28th January 2024, and a $1k deposit on 3rd December 2023 will be on hold ‘til February 1st 2024. While your assets are on hold, you are still able to trade them within Blockchain.com, but you will not be able to withdraw them from your account.
Deposits made directly into your Blockchain.com Account may also be subject to a shorter hold, of up to 7 days. Learn more here.
What should I know about the migration if I live in HI, LA, NJ, NV, TN, TX, or VA?
Aave (AAVE), Avalanche (AVAX), Bancor (BNT), Basic Attention Token (BAT), Chainlink (LINK), Compound (COMP), Enjin Coin (ENJ), Maker (MKR), Polkadot (DOT), Stellar (XLM), SushiSwap (SUSHI), Synthetix (SNX), Texos (XTZ), The Graph (GFT), Uniswap (UNI), and Yearn.finance (YFI) aren’t supported by Blockchain.com for residents of Hawaii, Louisiana, New Jersey, Nevada, Tennessee, Texas, or Virgina. If you have any of these coins in your crypto account, you can choose to sell them on your own or we will sell them for you once the migration starts on December 19, 2023. You will get an email at that time with the details. Sale proceeds will be deposited into your brokerage account, and all transaction fees from selling crypto will be reimbursed after December 22, 2023. For residents of Hawaii, Louisiana, New Jersey, Nevada, Tennessee, Texas, and Virgina: Cryptocurrency execution services are provided by Bakkt Crypto Solutions, LLC and Bakkt Marketplace, LLC (“Bakkt”, NMLS ID 1828849/1890144) through a software licensing agreement between Bakkt and Blockchain.com, Inc. Bakkt is not a registered broker-dealer or a member of SIPC or FINRA, and your crypto balance is not FDIC or SIPC insured. Please ensure that you fully understand the risks of owning crypto before trading. See here for Bakkt legal disclosures.
What should I know about the migration if I live in New York State?
Due to New York State availability, your crypto account will not be eligible for the migration to Blockchain.com.
What should I do if I’m already a Blockchain.com user?
From November 29th you’ll be prompted within the SoFi App to accept to migrate your assets over to Blockchain.com. When you click ‘Agree’ this will happen seamlessly behind the scenes and you’ll see your SoFi Crypto balance in your Blockchain.com Account on December 21st, 2023.
Can I use my SoFi crypto account before the migration?
If you currently have a SoFi Crypto Account and accept the migration to Blockchain.com, you will no longer be able to trade crypto with SoFi. You can begin trading crypto with Blockchain.com on December 21st, 2023.
Make sure you receive emails from Blockchain.com
We’ll be sending you updates about the migration and your Blockchain.com Account over email. Please consider whitelisting our email addresses:
Learn more about how to whitelist emails, and protect yourself from email scams here.