River Review (October 2026): Fees, US States and Licenses

Our verdict

River is a Bitcoin-only brokerage operated by River Financial Inc. (NMLS 1906809) for US residents in supported states. One-time orders cost 1% up to $1 million plus a spread of roughly 0.25% on buys, while recurring buys are fee-free after seven days. Client bitcoin is held in cold storage with monthly proof of reserves, and cash earns interest paid in bitcoin.

River fees

Maker / taker

— Not verified

Simple buy

1.00% on one-time orders up to $1,000,000, plus a spread typically around 0.25% on buys and 0.50% on sells

Volume tiers

Order-size tiers: 0.70% ($1M-$5M), 0.40% ($5M-$15M), 0.25% ($15M+). Recurring buys are fee-free starting seven days after the order is initiated; payroll direct-deposit conversions are free up to $30,000 per month.

ACH deposit

— Not verified

Wire deposit

— Not verified

Card purchase

— Not verified

USD withdrawal

Standard cash withdrawal free; instant withdrawal 1% ($1 minimum, $150 maximum)

Crypto withdrawal

On-chain: one free send per month; Standard and Priority sends carry a fee (amounts not published in the help article); Lightning supported, fee not published

Other fees

Bitcoin sales for bill payments are fee-free up to $30,000 per month

Minimum deposit

— Not verified

Is River available in my state?

River accepts US citizens and permanent residents whose primary residence is in a supported state and says it is 'not available in all states' (official site and help center, checked Oct 2026).

• AL available
• AK available
• AZ available
• AR available
• CA available
• CO available
• CT available
• DE available
• DC available
• FL available
• GA available
• HI available
• ID available
• IL available
• IN available
• IA available
• KS available
• KY available
• LA available
• ME available
• MD available
• MA available
• MI available
• MN available
• MS available
• MO available
• MT available
• NE available
• NV not available
• NH available
• NJ available
• NM available
• NY not available
• NC available
• ND available
• OH available
• OK available
• OR available
• PA available
• RI available
• SC available
• SD available
• TN available
• TX available
• UT available
• VT available
• VA available
• WA available
• WV available
• WI available
• WY available

River says it supports every US state except Nevada and New York, plus Puerto Rico and Armed Forces addresses (AA, AE, AP); DC is not mentioned (help article updated Apr 12, 2026).

New York

No

ID check (KYC)

Yes

Withdraw crypto

Yes

Funding

ACH, Wire, Direct deposit, Crypto

Is River regulated?

• NMLS 1906809

US operator

River Financial Inc.

Parent company

— Not verified

State licenses

— Not verified

New York license

— Not verified

Other

River states it is not a bank; USD funds are deposited with Lead Bank, Member FDIC.

Founded

— Not verified

Headquarters

— Not verified

How secure is River?

Proof of reserves

Yes - monthly, published by River (no external auditor named)

Audits

SOC 2 (River describes itself as 'SOC II compliant')

Insurance

Cash is FDIC-insured up to $250,000 through Lead Bank; bitcoin is not FDIC-insured. River says 100% of client bitcoin is kept in cold storage and is not lent out.

Incidents since 2019

None found in the sources checked.

Crypto held on a platform is not covered by FDIC or SIPC insurance.

What you can do on River

• Spot
• Recurring buys
• Earn
• Tax documents

Bitcoin only. Cash balances earn interest paid in bitcoin (3.50% shown on Oct 3, 2026); Target Price Orders, bitcoin auto-withdrawals, River Link, bill pay and payroll direct deposit; on-chain and Lightning transfers.

Apps

Web, iOS, Android

Support

Help center