How to Buy Bitcoin in 2026: Choosing a Platform
| Name | Price | ||
|---|---|---|---|
 | SoFi | 120.00 USD/yr | Read our review ↓ |
| Interactive Brokers | - | Read our review ↓ |
Before you buy
Buying bitcoin in the US takes a few minutes on a regulated platform, but the choice of platform decides what you pay, where your coins are held and whether you can move them to your own wallet. Three points matter more than the app’s design:
- Bitcoin is not insured. Crypto held on a platform is not a bank deposit: it is not covered by FDIC insurance, and SIPC does not protect digital assets that are not registered securities. If the price falls, nothing replaces the loss.
- Fees are usually a percentage of each trade. On small, frequent purchases, the difference between platforms adds up quickly.
- Every sale is a tax event. The IRS treats digital assets as property, not currency.
This guide compares two platforms available to US residents, SoFi and Interactive Brokers, with the fees each publishes, and explains the tax rules. It is based on the platforms’ fee schedules and the IRS’s guidance; we have not placed trades on these platforms ourselves.
A note on Revolut: its US terms state that, effective October 3, 2023, Revolut Technologies Inc. does not offer cryptocurrency services. US residents cannot buy bitcoin in the Revolut app.
Fees compared
| SoFi Crypto | Interactive Brokers | |
|---|---|---|
| Who provides the service | SoFi Bank, N.A., a national bank regulated by the OCC | Crypto execution and custody by Paxos Trust Company or Zero Hash LLC |
| Trading fee | 1.90% up to $1k of monthly volume, 1.50% from $1k to $5k, 1.25% from $5k to $10k, 0.90% above $10k (fee sheet effective June 22, 2026) | 0.12% to 0.18% of trade value, $1.75 minimum per order, capped at 1% of trade value (fees read on September 17, 2026) |
| Price execution | Quote with a price-movement tolerance, typically up to 0.10%, which SoFi says is not a separate fee | No added spreads, markups or custody fees, according to IBKR |
| Account and custody fees | $0 setup, $0 monthly maintenance and custody | No custody fees |
| Funding | From a SoFi Checking and Savings account (no processing fee), or debit card and mobile wallets (processing fees apply) | From your IBKR account; the crypto account is funded during US banking hours, then trading runs 24/7 |
| Coins available | 25+ cryptocurrencies, including bitcoin, ether and solana | About 20, including bitcoin, ether and solana |
What this means on a $1,000 purchase: at SoFi’s first fee tier (1.90%), the fee is $19. At Interactive Brokers, 0.12% to 0.18% of $1,000 is $1.20 to $1.80, so the $1.75 minimum can apply. These are the published rates only; the final price also depends on the market at execution.
SoFi Crypto: simplest if you already bank with SoFi
SoFi offers crypto trading through SoFi Bank, N.A. You fund trades directly from a SoFi Checking and Savings account, and SoFi converts the cash into a stablecoin to execute the order. Recurring purchases and limit orders are available.
The trade-off is cost. SoFi charges a tiered fee based on your monthly buy and sell volume, starting at 1.90% for the first $1,000. SoFi’s crypto page describes on-chain transfers to and from outside wallets; its fee sheet says any fee for an outbound transfer is shown before you authorize it. SoFi also states that crypto held with it is not a deposit and is not insured by the FDIC or SIPC.
On September 17, 2026, a promotion was running: new SoFi Crypto members could receive a randomly assigned crypto reward between $2 and $1,000 from 7/20/2026 to 9/30/2026; SoFi states that most recipients receive $2.
Pros
- Crypto in the same app as your bank account, funded instantly from SoFi Checking and Savings
- Recurring purchases and limit orders
- No account or custody fees
Cons
- Trading fees of 0.90% to 1.90% depending on monthly volume
- Requires a SoFi Checking and Savings account for full use
Interactive Brokers: lowest published trading fee of the two
Interactive Brokers offers spot crypto trading through Paxos or Zero Hash, alongside stocks, ETFs, options and futures in the same account. Its published commission is 0.12% to 0.18% of trade value, with a $1.75 minimum per order and a cap at 1% of trade value, and it states that it adds no spreads, markups or custody fees. You can hold USD in the crypto account, place non-marketable limit orders and withdraw coins to an external wallet.
Interactive Brokers also gives access to crypto exposure through exchange-traded products and CME futures, which some investors prefer to holding coins directly. Trading these products requires specific trading permissions.
The platform is built for active investors, and its trading tools are more complex than a banking app.
Pros
- Low percentage commission with a published minimum and cap
- Crypto, ETPs and futures in one brokerage account
- Withdrawals to external wallets
Cons
- Crypto funding happens during US banking hours
- More complex platform for beginners
Other ways to buy
Dedicated crypto exchanges such as Coinbase, and brokerages such as Fidelity and Robinhood, also sell bitcoin to US residents. Their fees and features differ by order type, so compare each platform’s current fee schedule with the figures above before choosing.
How to buy bitcoin, step by step
- Choose a platform and check that it serves your state.
- Open and verify your account. SoFi, for example, asks for your name, home address and Social Security number, and may request a photo ID.
- Fund the account. Check the funding fees: SoFi charges no processing fee when you fund from SoFi Checking and Savings, but processing fees apply to debit card and mobile wallet funding.
- Place the order. A limit order sets the maximum price you will pay.
- Decide where to keep the coins. Leaving them on the platform is simpler; moving them to a wallet you control means you alone are responsible for your keys.
- Keep records of every purchase and sale for your tax return.
Taxes on bitcoin
According to the IRS:
- Digital assets are property. Selling, exchanging or spending bitcoin can create a capital gain or loss, measured in US dollars.
- A gain on an asset held one year or less is short-term; held more than one year, it is long-term.
- Buying bitcoin with dollars and simply holding it is not a transaction you must report, but the digital asset question on Form 1040 must still be answered.
- Sales of capital assets are reported on Form 8949.
- Brokers report gross proceeds on Form 1099-DA for transactions on or after January 1, 2025, and report basis for certain transactions on or after January 1, 2026.
FAQ
What is the cheapest way to buy bitcoin in the US?
Of the two platforms compared here, Interactive Brokers publishes the lower trading fee (0.12% to 0.18%, $1.75 minimum). On very small orders the minimum makes the effective rate higher, so check the fee on your actual order size.
Can I buy bitcoin with Revolut in the US?
No. Revolut’s US terms state that, effective October 3, 2023, Revolut Technologies Inc. does not offer cryptocurrency services.
Is bitcoin on a platform insured?
No. Crypto held on a platform is not an FDIC-insured deposit, and SIPC does not protect digital assets that are not registered securities.
Do I owe tax if I only buy and hold?
Buying with dollars and holding is not a taxable sale. Tax applies when you sell, exchange or spend the bitcoin.
Conclusion
For a SoFi customer who wants bitcoin in the same app as their bank account, SoFi Crypto is the most convenient option, at a trading fee of 0.90% to 1.90%. For lower published trading costs and crypto next to other investments, Interactive Brokers charges 0.12% to 0.18% of trade value. Whichever you choose, invest only what you can afford to lose and keep records for the IRS.