How To Make Money With SoFi In 2022

SoFi offers a wide variety of financial products ranging from investments to student loans.

If you are looking to make money with SoFi, you are probably referring to the investment side of their business.

With SoFi Invest, you are able to buy shares of stocks and ETFs. In addition, you can trade some cryptocurrencies as well.

There's also a feature called SoFi Automated Investing, where SoFi builds and manages a portfolio on your behalf. 

Lastly, with SoFi Money, you can earn interest on your savings. 

These are the primary avenues for making money with SoFi. We will explore each of these in more detail now!

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How To Make Money With SoFi Invest

As mentioned above, SoFi Invest is the trading app offered by SoFi. This allows you to trade stocks, ETFs and cryptocurrencies.

Based on that, here are the different ways you could make money with SoFi Invest:

1. If you buy stocks/ETFs and sell them for a higher price later, you can earn money through asset appreciation. 
2. In addition, if those stocks/ETFs pay dividends, you can make money from dividends and potentially reinvest them.
3. You can also make money in cryptocurrency markets through buying low and selling high. 
4. SoFi also offers IPO access, so it is possible to make money as well by getting in early on the next big public offering. 

Keep in mind, it is also possible to lose money while investing in the financial markets.

How To Make Money With SoFi Automated Investing

SoFi Automated Investing is a robo-advisor that invests and manages your money for you automatically.

The minimum to get started is $1 and there are no management fees.

Here's how to make money with SoFi Automated Investing:

1. If you invest on a recurring schedule, you are following dollar cost averaging. If the assets you are buying go up in value, you have made money through asset appreciation, however you have to sell to realize the gain. 
2. In addition, most of the investments in the SoFi Automated Investing portfolios will pay dividends. These can be reinvested if you wish to earn compound interest.

How To Make Money With SoFi Money

Lastly, we have SoFi Money.

This is the online banking service provided by SoFi.

In order to make money with SoFi Money, you will primarily be earning interest on your deposits. 

The interest rate for SoFi Money changes from time to time, but it is still significantly higher than the national average.