Since Bitcoin’s creation, it has transformed the financial system, inspiring numerous companies and platforms to provide BTC buying and selling services. These initiatives aim to promote Bitcoin adoption and expand its utility.
However, over time, many platforms deviated from this focus, embracing altcoins and questionable “crypto” projects. This shift created confusion in the market, damaged the space’s reputation, and made it more challenging for users to find a trustworthy, Bitcoin-only environment.
As a result, companies that uphold Bitcoin’s core principles — decentralization, security, and financial sovereignty — have become rare but essential. Fortunately, they do exist, even though they remain a minority.
A great example is River, a U.S.-based platform dedicated 100% to Bitcoin.
Unlike many other exchanges, River has stayed true to its mission, avoiding distractions from altcoins and maintaining a focus on providing a reliable, secure, and efficient solution for buying and storing Bitcoin.
Additionally, It offers advanced tools for users who want to explore the Bitcoin market in more depth, all while staying aligned with Bitcoin’s fundamental values.
In this article, we’ll explore what River is, how it works, and its key features.
Let’s dive in!
Table of Contents
The History of River
River was founded in 2020 by Alex Leishman and Andrew Benson and is headquartered in Ohio.
From the start, the company focused on building a strong and reliable Bitcoin infrastructure. In 2023, River secured $35 million in a funding round led by prominent investors, including Peter Thiel, co-founder of PayPal.
What sets River apart in the market is its commitment to providing unique client solutions and prioritizing long-term services. The platform offers a user-friendly interface ideal for beginners while also catering to more experienced users with advanced, premium services designed to meet their needs.
Key Features of River
1. Bitcoin-Only Company
Unlike most platforms or exchanges, River focuses exclusively on Bitcoin.
This means it does not offer shitcoins to its clients, which is a significant advantage. This focus demonstrates the company’s commitment to Bitcoin while ensuring safety and transparency for its users.
2. Proven Custody
All Bitcoin stored on the platform is secured by River using a combination of cold wallets (offline storage) and other security measures to protect user funds.
The company also implements a Proof of Reserves system, enabling users to verify that the Bitcoin held in custody matches the amounts claimed by the platform.
3. Support from Financial Advisors
One of the company’s distinguishing features is its humanized support. They answer questions ranging from the simplest to the most complex to help customers build wealth with BTC.
Additionally, River also offers advanced features for buying and selling Bitcoin, including:
- Performance Reports: users can track the growth of their investments over time.
- Bank Account Integration: it simplifies deposits and withdrawals.
- Fee-Free Recurring Purchases: ideal for those who want to use Dollar-Cost Averaging (DCA) to accumulate BTC over time through fixed, recurring purchases. By the way, DCA purchases within the app are free of charge.
Bitcoin Interest feature
River recently introduced a feature in its app that allows users to deposit fiat currency and earn interest in Bitcoin. The feature, called “Bitcoin Interest on Cash”, offers an interest rate of up to 3.8%.
Here’s how it works: users deposit fiat money into the platform, and the interest earned is automatically converted into Bitcoin and credited to their accounts monthly.
This service is offered in partnership with Lead Bank, an FDIC-insured bank in the U.S. (Federal Deposit Insurance Corporation).
The FDIC is an independent U.S. government agency established by Congress to provide deposit insurance, protecting customers’ funds in the event of a bank failure. It insures up to $250,000 per account held with an insured bank.
As a result, River customers can enjoy the added security of FDIC insurance.
River App features
Beyond the features already mentioned, River also offers other tools that make it more than just a Bitcoin buying and selling platform.
- Private Clients: This feature caters to high-net-worth clients seeking a personalized platform experience. These clients have access to dedicated advisors, priority support, high transaction limits, and tax optimization assistance.
- River Link: This function allows users to create a link within the platform to pay or send Bitcoin as a gift to friends and family via text messages.
- Inheritance System: The app allows users to set up family beneficiaries to receive their Bitcoin in the future. With this service, clients can select individuals who will inherit their Bitcoin in case of unforeseen events. Additionally, River has a dedicated concierge team to help establish a beneficiary plan and assist families in securely and practically accessing the Bitcoin.
Educational focus
River places a strong emphasis on education, offering articles, reports, and newsletters to help users deepen their understanding of Bitcoin.
In the “River Learn” section, the company’s blog, users can explore articles covering a wide range of topics, from beginner basics to advanced insights, providing a solid foundation for Bitcoin knowledge.
Additionally, River’s financial engineering team creates in-depth technical reports on topics like Bitcoin, web technologies, security, and infrastructure.
Pretty cool, right?
Pros and cons of River
Certainly, one of River’s biggest advantages is that it is a Bitcoin-only company, eliminating the noise of shitcoins and enabling users to focus solely on what truly matters. Additionally, the platform caters to a wide range of clients, from beginners to more advanced and institutional users.
The platform also supports the Lightning Network, Bitcoin’s second-layer solution for micropayments, making Bitcoin more practical for everyday transactions with reduced fees.
The company also provides support for businesses looking to integrate Bitcoin into their balance sheets. Another standout feature is its competitive fees, as clients who utilize the DCA (Dollar Cost Averaging) feature do not incur any fees.
Despite its many benefits, River has some limitations. It operates exclusively within the United States, restricting accessibility for users in other regions.
Moreover, while River prioritizes transparency and security, it is a centralized company that requires Know Your Customer (KYC) verification. As a result, users must share personal information, which could potentially be disclosed to government authorities.
What do we think about this platform?
River is a company with a strong Bitcoin ethos that is genuinely committed to helping people understand and use Bitcoin effectively.
The platform stands out with its transparency features and significant focus on education, making it a valuable resource for beginners entering the Bitcoin space.
For those just starting out and who don’t mind completing KYC, River could be an excellent choice to begin their Bitcoin journey—provided they reside in the U.S., as the service is unavailable in regions like the UK and Australia.
That said, it’s always important to prioritize self-custody. Keeping your BTC on centralized platforms (even those with cold storage) is not advisable for long-term security.
On the other hand, if privacy is your top priority and you’d rather not share personal information with a company, consider a P2P platform like Robosats as an alternative.
We hope you enjoyed learning about River and its features.
See you in the next article, and OPT OUT!
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Founder of Area Bitcoin, one of the largest Bitcoin education projects in the world, she is a marketer, passionate about technology, and a full-time hands-on professional. She has participated in major Bitcoin conferences such as Adopting Bitcoin, Satsconf, Surfin Bitcoin, and Bitcoin Conference.
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