How do I buy/sell/hold crypto?
Simply enroll in a crypto account and accept the terms and conditions. Once your account is set up you can select your coin type, how much you want to purchase or sell, designate which account you want debited/credited, and confirm.
Crypto FAQ
- Enroll and accept the Terms & Conditions
- Click on the "Invest" button (Note: This button will say "Trade" after your first transaction)
- Select the asset name to view all supported assets
- Select your desired asset
- Enter in how much cryptocurrency you want to purchase (you may enter this in USD or in the cryptocurrency value)
- Designate which Direct Deposit Account you would like to make the purchase from (e.g., checking)
- Click "Preview transaction”
- You will be taken to a confirmation screen that displays the transaction fee and the net amount of digital assets you will be receiving
- Click "Confirm purchase"
- Congrats! Your order is complete; your account will be debited and your digital asset account will be credited with the corresponding amount of the purchase in near real-time
- Click on the "Invest" button (Note: This button will say "Trade" after your first transaction)
- Click on the “Sell” tab
- Select the asset name to view all supported assets ○ Note: you may only sell assets that you are currently holding
- Select your desired asset
- Enter in how much cryptocurrency you want to sell (you may enter this in USD or in the cryptocurrency value)
- Designate which Direct Deposit Account you would like the proceeds of the sale to be sent to (e.g., checking)
- Click "Preview transaction"
- You will be taken to a confirmation screen that displays the transaction fee and the net amount of USD you will be receiving
- Click "Confirm sale"
- Congrats! Your order is complete; your account will be credited and your digital asset account will be debited with the corresponding amount of the purchase in near real-time.
You can place a Buy or Sell order at any time, though there may be occasions when scheduled maintenance occurs. During these maintenance windows, crypto Buy and Sell orders will be temporarily unavailable. A message will appear at the top of the order screen notifying you of the time and date of these maintenance windows.
When you created your account, InvestiFi completed what's called the KYC (Know Your Customer) process of verifying your identity and personal information. If you’ve done this and agreed to our terms and conditions, you are all set! You don't have to do things like upload your ID, take a picture of yourself, or do other things that other platforms make you do. We already know who you are and trust you!
Your cryptocurrency balance can be viewed on your mobile banking dashboard by clicking the “Crypto Trading” button on the left panel.
Your cryptocurrency balance can be viewed on your mobile banking dashboard by clicking the “Crypto Trading” button on the left panel.
No. Because trades are near instantaneous and are irreversible, trades cannot be refunded. For more information please review the Terms and Conditions.
Your financial institution is equipped with additional tools to help answer your questions and has resources available to get additional support when answers are not immediately available. That being said, InvestiFi will not be able to offer financial advice or reverse or modify any transaction already completed.
No. You can only place orders for digital assets through your online banking or mobile banking app but you can call and have someone walk you through how to make a trade/place an order.
No. The two most important goals for us as a financial institution in offering cryptocurrency is to make it as easy and safe to buy, sell and hold cryptocurrency as possible. In order to meet both of those goals (ease and safety), for a variety of both security and regulatory reasons, you are not able to send cryptocurrency outside of the financial institution.
Currently, InvestiFi only provides the ability to buy, sell, and hold cryptocurrency through your financial institution with no ability to pay or transfer out.
Your financial institution is equipped and ready to provide you with all necessary information needed to easily begin to buy/sell/hold with your financial institution.. This educational guide, including “Crypto 101” and other sections, is meant to help you make informed investing decisions when it comes to cryptocurrency.
You can find more information on coins by clicking the coin on the Crypto Home Page or clicking the Learn portal and scrolling down to the Explore Top Coins section.
Your financial institution is equipped with additional tools to help answer your questions and has resources available to get additional support when answers are not immediately available. That being said, InvestiFi will not be able to offer financial advice or reverse or modify any transaction already completed.
Current market prices for the available cryptocurrencies are shown on both the main Crypto Home screen and your Portfolio screen. Prices are updated every five seconds.
Crypto FAQ - continued
Your crypto holdings are taxable when you sell them - just like any other investment asset.
InvestiFi does not currently support digital asset deposits. This feature may be available at a future date. Currently, through the platform, you are only able to buy, sell and hold digital assets.
No. The two most important goals for us as a financial institution in offering cryptocurrency is to make it as easy and safe to buy, sell and hold cryptocurrency as possible. In order to meet both of those goals (ease and safety), for a variety of both security and regulatory reasons, you are not able to send cryptocurrency to a wallet outside of the financial institution or receive cryptocurrency from a wallet outside of the financial institution.
Currently, InvestiFi only provides the ability to buy, sell and hold digital assets through your financial institution with no ability to pay or transfer out.
InvestiFi uses a combination of systems to make sure the crypto that you store with your financial institution is secure.
InvestiFi independently monitors your crypto balance with our qualified custodian daily to ensure there is agreement on the balance between all parties, and immediately works to resolve any discrepancies if any do appear.
Crypto being held with our qualified custodians is not used for any other purposes and is there for you when you want to sell it.
There is a $0.99 minimum fee per trade, with a fee range of 1% - 2.99% per trade depending on the size of the transaction. You will be shown the amount of the trading fee before you confirm the trade.
Prior to closing your account, you can either liquidate your cryptocurrency holdings or elect to keep your digital assets directly with the Qualified Custodian.
Your cryptocurrency holdings are like any other assets that you hold with your financial institution and they are treated exactly the same as any other assets if you were to die. Your beneficiary or other designated person with a power of attorney would have access to all of your financial institution assets and would liquidate them on whatever basis they felt was warranted.
In the extremely unlikely event that our financial institution were to fail, you would still be able to retrieve your cryptocurrency directly from the qualified custodian that stores your holdings. In this event, you would be provided instructions on how to retrieve your holdings.
The coins available to purchase are visible to you in the online banking and mobile banking app. Your financial institution decides which coins to offer and there will be communication when there are changes to the coins that are offered.
Cryptocurrency markets are open 24/7/365, and prices change by the second. Depending on how long you took to confirm the trade, the price may have changed slightly based on the latest market prices.
Losing cryptocurrency held via your financial institution is very very unlikely - it is held securely on your behalf by your financial institution.
Yes, like any investment product your cryptocurrency may lose (or gain) in value over time. Cryptocurrencies are volatile and unpredictable, meaning their prices can go up and down quickly and without warning. Many factors can affect the value of a cryptocurrency, such as supply and demand, regulation, hacking, competition, innovation, and market sentiment. You should only invest in cryptocurrencies if you are aware of the risks and willing to accept the potential losses.
As long as the cryptocurrency remains in your financial institution account, it cannot be used by anyone other than you. Bitcoin and other cryptocurrencies can be used for illegal purposes, just like any other form of currency or asset. However, it is important to note that the vast majority of cryptocurrency transactions are legitimate and legal. As a cryptocurrency user, it is important to use caution and due diligence when transacting with others outside of your financial institution and to report any suspicious activity to the appropriate authorities.
No, you do not need your own wallet for your cryptocurrency investments with your financial institution. Your cryptocurrency is held by your financial institution on your behalf with a qualified custodian - in a similar manner to the cash in your checking accounts.
InvestiFi uses a combination of systems to make sure your crypto that you store with your financial institution is secure.
InvestiFi independently monitors your crypto balance with our qualified custodian daily to ensure there is agreement on the balance between all parties, and immediately works to resolve any discrepancies if any do appear.
Crypto being held with our qualified custodians is not used for any other purposes, and is there for you when you want to sell it.
The value of your cryptocurrency can be determined by checking your balances within your web portal or mobile app. The value of cryptocurrency can be highly volatile, so it is important to monitor it regularly.
Your cryptocurrency buy-or-sell-transaction should take only a few moments to process. The transaction details and corresponding cryptocurrency or dollars will be shown in your account quickly, usually within less than a minute.
Cryptocurrency purchased through our digital asset service offering is held with a regulated and qualified custodian. Please see "Is my Crypto Insured?" for more information.
Digital Assets are not insured by the National Credit Union Share Insurance Fund (NCUSIF), the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).
Accessing cryptocurrency through your financial institution is the easiest, safest, and quickest way to invest in digital assets like Bitcoin, Ethereum, and others. There are a number of advantages to this innovative offering:
- It’s Easy - Because you are already an account holder, there are no additional forms to fill out or funds that are required to be transferred away from your primary accounts. As a result, you are able to begin buying and selling cryptocurrencies almost immediately.
- Your Personal Information is Safe and Secure - Your identity and bank information have always been safe with us. When you leverage our digital asset services, that same level of security holds true. By buying or selling digital assets through your financial institution, your personal information will be securely shared with InvestiFi, our selected qualified custodian and liquidity provider only to the extent necessary to conduct transactions.
- It’s Quick - Buying or selling cryptocurrency through your financial institution means you have near immediate access to your crypto when you buy it, and your funds when you sell. You have instant access to digital asset trading with funds from your checking accounts.
- No Surprises or Hidden Fees - When you trade digital assets through your financial institution, fees are clearly shown before you place your trade.
Your cryptocurrencies will not earn interest like a regular savings account.
Your financial institution constrains the number of coins available for investment. Coins are evaluated on a number of factors, including a form of risk assessment to ensure they are appropriate for inclusion. From time to time this list will be evaluated and additional coins may be offered.
Only account holders over the age of 18 and in good standing with the financial institution can buy/sell/hold cryptocurrency. Commercial accounts may not be used.
Currently, only market orders are available for trading. Other order types may be made available in the future.
Digital assets (cryptocurrencies) are made available and held in a digital wallet maintained by SAFE Trust Company, a Wyoming trust company, not the credit union or InvestiFi or its affiliates. SAFE is a separate entity from, and not an affiliate of Illiana Financial Credit Union or InvestiFi. Digital assets are (1) not federally or privately insured; (2) not obligations of Illiana Financial Credit Union; (3) not guaranteed by Illiana Financial Credit Union; (4) heavily speculative and volatile; (5) may have associated fees; (6) may not allow member recourse; and (7) offered by a third party. Illiana Financial Credit Union may receive compensation from your purchase of digital assets. Digital assets (i.e. cryptocurrencies) held in your digital asset account with SAFE (i.e. Crypto account) are not insured by any government or private entities, including, but not limited to, NCUA or ASI/ESI. Your digital investing account does not support wallet-to-wallet transferring of your digital assets (i.e. Cryptocurrencies). You should carefully consider whether buying or holding digital assets is suitable for you in light of your financial situation. Digital assets are not obligations of Illiana Financial Credit Union and are not guaranteed by Illiana Financial Credit Union.