What is River and how does it work for buying bitcoin?

River is a bitcoin-only financial company in the US that lets clients buy, sell, hold and send bitcoin through its app. It works as a brokerage rather than an order-book exchange, and it pairs bitcoin buying with cash accounts held at a partner bank. River Financial Inc. is not a bank, and its bitcoin holdings are not FDIC insured.

How does the River bitcoin app work?

You fund your account by bank transfer (ACH), wire or direct deposit. With a linked bank account, River advances the money before the deposit settles so you can buy right away, which is why some withdrawal limits apply to fresh deposits.

When you buy, you are buying from River at a quoted price. River says it sources that bitcoin from several over-the-counter trading desks and caps how much it leaves open with any one desk. You can buy once or set recurring buys, including from a paycheck, an approach explained in what is dollar-cost averaging.

You can then hold the bitcoin with River or withdraw it. On-chain withdrawals come from River's hot wallet, which River says is funded only with company bitcoin, and Lightning withdrawals are also supported. An optional setting called ForceField lets you cap weekly withdrawals.

Is River a bitcoin exchange or a different kind of company?

River calls itself a client-first, bitcoin-only financial institution. It does not list other coins. It reports a NMLS ID of 1906809 and says it holds money transmitter licenses in every state that requires one.

Client dollars are held at Lead Bank, where each client gets a unique account and routing number and cash is FDIC insured up to $250,000 per depositor. That insurance covers the bank, not River's own failure, theft or fraud. River also pays interest on cash, paid out in bitcoin or dollars, at a rate tied to Federal Reserve changes.

How does River protect client bitcoin?

River says 100% of client bitcoin deposits are in cold storage, using multi-signature vaults it builds and runs in-house, and that it does not lend client bitcoin out. The difference between online and offline storage is covered in hot wallet vs cold wallet.

Each month River publishes a proof of reserves. It shows its cold storage address, moves a small amount from it to prove control, and posts an anonymized list of client balances so each client can check they are included. River's October 6, 2026 report showed assets above total client liabilities. Learn how this kind of check works, and its limits, in what is proof of reserves. River also says it is SOC 2 Type II compliant and has its financials audited each year.

How do River bitcoin fees work?

River advertises zero-fee recurring buys and no-fee banking, and says fees may apply to other transactions such as one-time buys. Pricing can change, so check River's own pricing page and the quote shown before you confirm, as of November 2026.

Only US residents can open an account. River's support page says it cannot serve clients who live outside the United States.