Coinbase Make New Partner in Effort to Get Young People Involved in Bitcoin

Over the next few months, users of SoFi Invest will be able to purchase cryptocurrencies like Bitcoin through a partnership with Coinbase.

For those that don’t know, SoFi (short for Social Finance) was founded in 2011 by Mike Cagney, James Finnigan, Ian Brady and Dan Macklin. The platform is an online personal finance firm that provides loans to students, mortgages and so on. You can also invest using several different methods and without the fees.

SoFi is aimed at young people with a variety of finance products including lending. Even though the first has been going for a few years now, their new venture, SoFi Invest was only launched earlier in the month.

As well as announcing the partnership with Coinbase, the company announced the launch of SoFi Money which will offer a 2.25 percent APY account according to recent news reports.

SoFi Invest currently offers broker and automatic options which they call the ‘active’ investment. The firm allows users to trade stocks with ease and all from their smartphone. They don’t charge any “transaction and management fees.” Even so, there are still fees involved with trading stocks.

SoFi is quickly expanding and throughout this year, the company will be launching numerous more products with one featuring an ‘auto-save’ option that is the core of the Acorns business model.

The CEO of SoFi, Anthony Noto said that “our target audience wants to see what the price of cryptocurrency is, and to buy it. They have a desire to do that and in many cases they already are.”

SoFi hasn’t said what cryptocurrencies the customers will actually be able to be bought through the app. The US cryptocurrency exchange is regulated on a “state-by-state” basis. This is why Ripple isn’t currently available to the users of Coinbase Pro in New York.

What does 2019 hold

For mobile users, there will be more ways than ever to buy, sell and hold your crypto throughout this year. The “ease of adoption” factor has diminished quickly since the bull run of 2017 but the actual demand of crypto is still an ongoing problem, especially when it comes to day to day usage.

There aren’t a lot of places you can use your Bitcoin in 2019 but throughout the year more places will crop up. Bitcoin ATMs are also on the rise with more than 4,000 dotted across the United States as we speak and more seem to be getting installed every day.