National ATMsTrade Bitcoin.
Powered by NYDIG
A message from our bitcoin service partner, NYDIG.
It has been exciting working with Magnifi Financial on the launch of the bitcoin service. We greatly appreciate your participation. However, NYDIG has decided to discontinue offering the bitcoin service and NYDIG bitcoin trading is no longer offered via Digital Banking.
How It Works
Members can conveniently use their Magnifi Financial checking or savings accounts to fund bitcoin purchases in one connected and secure experience within digital banking.
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Navigate Menu
Click on "Transactions," then "Trade Crypto"
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Terms & Conditions
Review the terms and conditions carefully then click "Accept" to enroll
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Start
Begin purchasing and trading Bitcoin!
Benefits
SECURE
Our partner, NYDIG, maintains the highest security and compliance standards.
EASY SIGN-UP
Enroll and start buying bitcoin in minutes.
24/7 ACCESS
Available in online banking and the mobile app.
DOCUMENTATION
Tax documents available when you need them.
Frequently Asked Questions
What is Bitcoin?
Bitcoin is a monetary system for storing and transmitting an asset of value and is the world’s largest and most recognized digital currency. Bitcoin is managed by its users and enables financial transactions on a peer-to-peer network basis.
What Bitcoin
capabilities does Magnifi Financial offer?
Through our partner NYDIG, Magnifi Financial members have the option to buy, sell and hold bitcoin through digital banking as well as view current bitcoin balance through a user-friendly process.
How secure is
trading Bitcoin with NYDIG/Magnifi Financial?
When trading Bitcoin through Magnifi Financial digital banking, transactions are encrypted and equally as secure as other banking transactions.
Is Bitcoin
federally insured?
No. The buying and selling of Bitcoin is not insured by NCUA.
Why is Bitcoin
the only cryptocurrency offered?
At this time, Bitcoin is the only supported digital currency. Our partner, NYDIG, focuses on Bitcoin because it has a track record of security and has the greatest regulatory clarity of all digital assets.
How are the
prices of Bitcoin determined for buy and sell orders?
The price is determined by the current market. Magnifi Financial does not set or determine pricing.
DISCLOSURES
Bitcoin accounts and bitcoin balances are not federally-insured by NCUA, are not obligations of the Credit Union, are not guaranteed by the Credit Union, and do involve investment risk.
Bitcoin services are provided to you solely by NYDIG Execution LLC (“NYDIG”) upon opening an account with NYDIG. Bitcoin trading involves risks, including possible loss of value. Not insured by the NCUA or SIPC. See Terms at sign up for detail, including eligibility, risks and licenses.
Join the Magnifi Family!
At Magnifi, you're not just a member-owner of an award-winning credit union, you become part of the Magnifi family and receive all the benefits and perks you need to succeed financially.
