National ATMsTrade Bitcoin.
Powered by NYDIG
Magnifi Financial is proud to be the first financial institution in Minnesota to offer Bitcoin trading to members.
Currently available to retail members.
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
Always 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 associated monies 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 execution and custody services are provided by NYDIG Execution LLC (“NYDIG”). NYDIG is authorized by the New York State Department of Financial Services to engage in virtual currency business activity. To receive bitcoin services, you must open an account with NYDIG in which your bitcoin will be held (the “NYDIG Account”). Please refer to NYDIG’s Terms and Conditions for more information, including applicable eligibility criteria.
Bitcoin balances in your NYDIG Account are not insured by the Federal Deposit Insurance Corporation (FDIC), National Credit Union Share Insurance Fund (NCUSIF), the Securities Investor Protection Corporation (SIPC), or any other public or private insurer.
NYDIG does not make any recommendations regarding buying or selling bitcoin. There are risks associated with bitcoin trading, including possible loss of value. See Terms and Conditions located within the Digital Banking crypto widget for details.
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.
