SoFi Will Hand You $300 in SOFID for Moving $1,000 of Crypto — But You're Locked In for a Year

SoFi is running a promo that pays $300 in SOFID if you move at least $1,000 worth of eligible crypto onto their platform and leave it there for a full year. The transfer window is short — just two weeks in October 2026 — and the holding period runs through October 2027. It's open to both new and existing SoFi Crypto members, which is a nice change from the usual new-customer-only bonuses.

The basic mechanics

Here's how it works: you transfer $1,000 or more in supported crypto from an external wallet or exchange into your SoFi Crypto account during the transfer window, which runs from October 1 through October 14, 2026. Then you leave that principal alone until October 14, 2027. Do that, and SoFi credits you $300 in SOFID.

The transfer can be a single deposit or several smaller ones — they just need to add up to at least $1,000 while the window is open. SoFi uses its own internal clock to decide whether a transfer landed in time, so don't wait until the last minute. A transfer that's initiated but not confirmed before the deadline won't count.

Which coins actually count

Not every asset works here. SoFi has a specific list of supported deposit assets, and anything outside that list won't count toward your $1,000 minimum — and in some cases can't be transferred in at all.

The eligible list is AAVE, BONK, BTC, ETH, FLOKI, LDO, LINK, LTC, POL, SHIB, SOL, SOFID, UNI, USDC, XLM, and XRP. SoFi reserves the right to change that list at any time without notice, so if you're planning around a specific coin, double-check before you move anything.

• Stablecoins USDC and SOFID both qualify, which matters if you want to avoid price swings during the hold.
• Major assets like BTC, ETH, SOL, LTC, and XRP are on the list.
• Anything not listed doesn't count toward the $1,000 threshold.

The year-long lock-up is the real catch

The bonus isn't paid for simply moving crypto in — it's paid for keeping it there. If you voluntarily withdraw your transferred principal at any point before October 14, 2027, you lose the entire $300. SoFi's own example makes this clear: transfer in $1,000, pull out $500 early, and you get nothing.

That's a long time in crypto terms. A year is an eternity in this market, and you're giving up the ability to move those assets to another exchange, sell into a rally, or respond to a crash. If you're the type who likes to trade actively, this promo probably isn't for you.

What SOFID actually is

SOFID is a payment stablecoin issued through SoFi Bank, N.A., designed to hold a stable value relative to the U.S. dollar. It's intended to be backed 1:1 by reserves made up mostly of cash and cash equivalents.

But — and this is important — SOFID is not a bank deposit. It's not FDIC insured, not SIPC insured, and not legal tender. SoFi's own disclosures note that holding or transacting in SOFID involves risks and could be subject to delays, disruptions, or even permanent loss. The 1:1 backing is an intention, not a guarantee.

The 'not your keys' problem

When you transfer crypto to SoFi, you're handing custody to a third party. SoFi is a regulated national bank, so the odds of something catastrophic happening are low — but they're not zero. There's no government backstop here, no insurance protecting your coins if things go sideways.

The old saying applies: not your wallet, not your coins. If you're uncomfortable with that trade-off, this offer isn't worth $300 to you. If you already keep some crypto on an exchange anyway, moving a portion to SoFi for a year is a reasonable way to pick up a bonus.

Who this makes sense for

If you already hold eligible crypto somewhere and you're not planning to touch it for a year, this is a pretty easy $300. The fact that existing SoFi members qualify is unusual — most bonuses like this are reserved for new customers.

If you don't currently hold crypto, you could buy USDC or another stablecoin and transfer it in, since stablecoins qualify and won't swing in value during the hold. But you'd be taking on the custody risk and the lock-up for a relatively modest return on $1,000. That's a personal call.

• Good fit: you already hold eligible crypto and won't need to move it for a year.
• Good fit: you want stablecoin exposure and are comfortable with SoFi custody.
• Poor fit: you trade actively or might need to liquidate within the year.
• Poor fit: you're not comfortable with uninsured crypto custody.

Things to watch out for

A few details that are easy to miss. The bonus is taxable — SoFi says it may be reported on Form 1099-MISC as miscellaneous income. The promotion is limited to one per account and isn't transferable. SoFi also reserves the right to exclude anyone for suspected fraud or misuse, and can modify or cancel the promotion at any time without notice.

One more thing: the holding requirement applies to your transferred principal. SoFi's terms specifically call out voluntary withdrawals of principal as the trigger for forfeiture. Read the full terms before you commit, especially if you're planning to move a large amount.

Bottom Line

• $300 in SOFID for transferring $1,000+ in eligible crypto and holding it for a year.
• Transfer window is tight: October 1–14, 2026. Holding period runs through October 14, 2027.
• Open to both new and existing SoFi Crypto members — unusual for this kind of bonus.
• Withdrawing your principal early forfeits the entire bonus.
• SOFID and other crypto at SoFi are not FDIC or SIPC insured.
• The $300 bonus is likely taxable income.

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