2022 M1 Crypto Review • Pros, Cons, Fees & More • Benzinga


M1 Crypto Ratings at a Glance

M1 Crypto Product Offering

The M1 platform helps boost the financial well-being of its user by providing easy ways to invest smartly in a variety of different assets. M1 is easily one of the most versatile trading platforms available today – it’s called the “Finance Super App” for good reason. Under the M1 umbrella, you’ll find M1 Invest (the brokerage), M1 Borrow (margin trading), M1 Spend (its Visa & Checking debit card and Owner’s Rewards Card) and M1 Plus (to access premium M1 features). He just launched another great facet of M1: M1 Crypto.

M1 already offers commission-free trading for its brokerage accounts, and M1 Crypto follows this model. One of M1’s biggest advantages over its competitors is its unique “M1 Pies” feature. Pies are groups of assets that users can invest in to diversify their portfolio into the assets they want to buy quickly and easily.

You will soon be able to invest in Expert Crypto Pies, designed for a wide range of financial goals and investment objectives. You can also access over 6,000 stocks and funds to create your own custom pie. Custom crypto pies are also available, but you cannot combine cryptos and stocks in one pie. Nevertheless, you can invest in multiple pies, making your portfolio a carefully crafted pie of pies. If that wasn’t enough, you can set it to dynamically rebalance your portfolio so that it automatically keeps your portfolio diversified.

Users will need to have or open a funded M1 Invest account to trade crypto in M1 Crypto, but signing up is easy. Until November 30, 2022, you can get $10 free credited to your M1 Invest account when you sign up and deposit $100 within 30 days. M1 offers 10 cryptocurrencies for trading, including Bitcoin, Ethereum, and other large-cap coins. You can build your portfolio by buying cryptos individually, or you can dive straight into Crypto Pies. M1 Crypto will eventually add more cryptos, but support for the top 10 or so is probably good enough for most investors.

M1 Crypto is finally available to the general public, so you can sign up for M1 Crypto today! M1 will soon also offer a wide range of expert Crypto Pies, each with a different token mix. It will have thematic strategies like Decentralized Finance (DeFi), Web3, and Large Cap Crypto. Apart from its crypto trading features, M1 is excellent for traditional financial investments. Users can manage multiple accounts seamlessly in one app.

M1 seems to have everything you need in terms of customer service resources, including a blog and a help center. The blog is frequently updated with market news as well as tips for navigating the M1 platform. The Help Center takes care of the operation of the M1 platform. The many features offered by M1 can be difficult to manage, which is why the help center’s explanations of getting started, setting up the account, transfers, investing, spending and borrowing are useful.

Its customer success team is available from 9 a.m. to 5 p.m. ET on days when the U.S. stock market is open. The team responds to a request within one business day. You will receive an email confirming receipt of your request within 5 minutes of your submission.

All data transferred and stored in M1 systems is protected by military-grade 4096-bit encryption and offers two-factor authentication (2FA). You can enable 2FA in the settings section of M1. Crypto assets on M1 are held in a custody wallet powered by Apex Crypto, which provides strong security for the assets it holds. Apex Crypto stores 44 types of cryptocurrencies and is trusted by major trading platforms. This is normal as few trading platforms have custody of the cryptocurrencies being traded. It is important to note that cryptocurrencies are not FDIC or SIPC insured.

M1 does not charge trading commissions on any account or fees to deposit or withdraw from your connected bank. Customer pricing is simple on M1. With zero commission, crypto traders can invest without worrying about losing money on high fees. Apex Crypto adds a 1% fee for each crypto trade that is rolled into the execution price. These fees are slightly higher than some platforms. It is free to register and deposit money from the account. Discover its complete pricing structure.

M1 Crypto will be an important part of the Finance Super App where users invest, borrow and spend. The app is as powerful as its name suggests. It allows you to easily manage all your investments on M1 in one place. You don’t have to look at price charts and complex techniques. You can manage your portfolio, rebalance settings, and change the composition of the pie without the complex technical features that clutter other apps. That is why it is perfect for both beginners and experienced traders. The app has a great user interface that makes it easy to use M1 on the go.

M1 Crypto is finally here, so you can get started by signing up on the website or mobile app.

The main benefits for users are the ability to customize your investment strategies and automate your portfolio balancing while paying no commission. Pies and automated rebalancing are useful features that almost no other crypto trading platform offers. This automation is ideal for all types of users. Those who already know what they want their wallet to look like can set it up in minutes, or you can choose one of the expert-designed pies (which haven’t been released yet but will be launching soon) and let it rebalance. into an excellent portfolio. Smart diversification is generally considered extremely important in investing, and M1 has made it a clear goal to make it as easy as possible for its users.

The user experience is excellent, especially with the M1 mobile application. The simple user interface provides a level of visual clarity that many financial apps lack. The automation provided by M1 Pies makes it the ideal user experience for many types of investors. With just a few clicks, you can create a diverse, expert-designed portfolio in cryptocurrencies, traditional investments, or both. By turning wallets into pies and visually displaying their weight, users enjoy a visually pleasing investing experience.

M1 vs Competitors

The M1 platform has a few similar competitors, like eToro. Compared to eToro and other industry-leading competitors, M1 is a relative newcomer to the crypto arena. It has just rolled out its platform and initially supports fewer cryptos. eToro has been around for a while and also offers traditional investments like stocks or ETFs and cryptos. However, M1 is already one of the best traditional financial trading platforms, and adding crypto to the mix makes it even better.

M1’s unique automation features along with its easy-to-use mobile app make it a top contender for beginner-friendly crypto exchanges. It’s much easier to set up your portfolio exactly the way you want without having to carefully execute every trade to build it and keep it diversified. Platforms like eToro may be better for investors looking for a wide selection of cryptos, but M1 is clearly tops for beginners.

eToro and M1 are centralized finance (CeFi) platforms with a reliable track record to help individuals invest directly from their mobile devices. They also each offer unique features such as pies from M1 and paper trading from eToro. If you are looking for easy portfolio automation, M1 is probably the choice for you due to its pie concept.

Overall, M1 is a fantastic platform with an incredible variety of features. The addition of crypto trading fulfills M1’s core mission of empowering individual users. Brian Barnes, the founder of M1, explains that “Cryptocurrencies are an approximately $1 trillion asset class in which more than 20% of Americans have invested, traded or used. This is the most requested asset addition, with around half of our surveyed users wanting to use M1 to invest in crypto. Adding it to the platform gives you the choice to incorporate this booming asset class into your long-term investment strategy if it fits your risk tolerance and long-term outlook. You can register here.

M1 offers a number of great financial products, uses a reputable security provider, has great automated solutions, and offers an easy to navigate user experience. The biggest problem with M1 Crypto is that it only supports 10 cryptos initially. That’s a lot for most investors, but those looking for a wide variety of altcoins may find it insufficient. However, it seems to be a promising tool for new crypto investors looking to join the space or for experienced investors looking for an automated solution.

Frequently Asked Questions

questions and answers

A

Yes, M1 offers an app available on the Apple App Store and Google Play.

Q

Where does M1 store its digital assets?

A

M1 stores digital assets in Apex crypto.

Q

Is it good to invest in crypto?

A

Crypto can serve as an additional diversification asset for your portfolio. However, you should consider your specific situation, financial situation, and crypto risks before investing.

Q

What does crypto actually do?

A

Crypto is used for DeFi and other applications in Web3, GameFi, and the Internet of Things. It is a payment method accepted by a growing number of in-person and online retailers. Investors hold it in wallets and traders buy and sell all types of crypto.

This disclosure must accompany the article: “Investing in cryptocurrency involves significant risks and may not be suitable for everyone. Depending on your specific situation and financial situation, carefully consider whether investing in cryptocurrencies is right for you. Cryptocurrencies are not FDIC or SPIC insured. For relevant disclosures and risks, visit m1.com/crypto-disclosures.”


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