Interest earned is treated as income. Once per month, you will receive one tax lot with the date of payout, cost basis, and the average price of the bitcoin-denominated interest.

River does not provide tax advice. On this and all other financial matters, we suggest you consult a tax professional.

Please see our Help Center guide on tax documents for more information.

River Financial Inc. (“River”) is not a bank. USD funds are deposited by Lead Bank, Member FDIC. Your USD is FDIC-insured up to $250,000, inclusive of any deposits that you already hold at Lead Bank in the same ownership capacity. FDIC insurance may protect against a failure by Lead Bank, but does not protect against River’s failure, nor does it protect against theft or fraud. Bitcoin is not insured by the FDIC, and may lose value.

Interest may be earned on cash that has settled at Lead Bank. The current interest rate is 3.8%, and is subject to change. You may choose to receive interest payouts in Bitcoin or in USD. Lead is not affiliated with River’s Bitcoin program, products, or offerings. Not available in all states. Fees may apply. Please review the Terms of Service for eligibility restrictions and additional details.

Are my dollars FDIC insured?