They are a niche platform for long term investors and this is really just them branching out for those who would like to have a small percentage in crypto but without the crazy risk that it brings in terms of hacking etc...I guarantee most people will keep small percentage of their portfolio in they crypto wallet on M1.
I switched from Acorns to M1 based on your reviews and a podcast that I listened to, also the fact that my emergency fund can be in my investments and I can borrow against them if I actually need the money. It is a great service but it is not a “secret” 🤫 that I am not into crypto so I will not be using this service what so ever.
I love using M1 but their crypto options is nothing special. if someone wants to get started with crypto then coinbase is a better beginners choice in my opinion. And then as you get more confident with crypto you can easily move it off the exchange to stake somewhere with better rates or hold in a cold storage wallet. Then you can pretend that it is in a secret account that the irs won't know about 👀 I like that you can also setup direct deposit to coinbase with your employer and avoid the fee. And then use the debit card to earn crypto back on purchases. The secret would be to designate only a small portion of your pay go to coinbase and I only do USDC stablecoin so I'm not worried that some token suddenly is worthless and I won't be able to eat and have a place to live.
Yeah... my secret investing strategy is to avoid crypto. Weird that they'd offer crypto investing as the market is crumbling, but I guess it's still a hot marketing word.
0:57, not really, the crypto guys nowadays are impatient but in reality crypto or at least bitcoin and ethereum has always been long term, they took years before they reached thousands of dollars, crypto is no GME.
1% is nothing just saying And most people have multiple platforms Just saying. Just invest in the stable coins//Layer 1 it's not rocket science Everybody should have multiple accounts
1% doesn’t feel like a lot but it is. Let’s say you make 8% profit one year, taking 1% fees means you lose 12.5% of that profit. Massive. Even worse if you lost money they still get paid no matter what! That’s why investment bankers are so highly paid.
They are a niche platform for long term investors and this is really just them branching out for those who would like to have a small percentage in crypto but without the crazy risk that it brings in terms of hacking etc...I guarantee most people will keep small percentage of their portfolio in they crypto wallet on M1.
I don’t get charged the 1%
Great review. I totally agree with you. I won’t be using crypto yet but keep it a secret 🤫
🙌🤫
Thanks for breaking it down where I can understand it. A1 😎
👍👍👍
Brokerage safer than exchange for sure
I switched from Acorns to M1 based on your reviews and a podcast that I listened to, also the fact that my emergency fund can be in my investments and I can borrow against them if I actually need the money. It is a great service but it is not a “secret” 🤫 that I am not into crypto so I will not be using this service what so ever.
Not to mention that you don't own the coin so you can't transfer it off the platform into cold storage if you wanted too.
Excellent point Paris
True!
Just use another platform that's all.
I love using M1 but their crypto options is nothing special. if someone wants to get started with crypto then coinbase is a better beginners choice in my opinion. And then as you get more confident with crypto you can easily move it off the exchange to stake somewhere with better rates or hold in a cold storage wallet. Then you can pretend that it is in a secret account that the irs won't know about 👀
I like that you can also setup direct deposit to coinbase with your employer and avoid the fee. And then use the debit card to earn crypto back on purchases. The secret would be to designate only a small portion of your pay go to coinbase and I only do USDC stablecoin so I'm not worried that some token suddenly is worthless and I won't be able to eat and have a place to live.
Yeah... my secret investing strategy is to avoid crypto. Weird that they'd offer crypto investing as the market is crumbling, but I guess it's still a hot marketing word.
Still a hot topic!
Thanks Nathan!
🙌
It seems to me like M1 is trying to keep Apex 1% charging fee a secret 🤫 😅
😅🙌
0:57, not really, the crypto guys nowadays are impatient but in reality crypto or at least bitcoin and ethereum has always been long term, they took years before they reached thousands of dollars, crypto is no GME.
Secret 🤐
🤐🙌😆
SUBSCRIBED yea 👍
Thanks Jake!!
So we not going to mention the cool name "bittherum* 🤣😁
I think you’re the guest person to comment on it!
They all say the same thing. No fees.
1% is nothing just saying
And most people have multiple platforms
Just saying.
Just invest in the stable coins//Layer 1 it's not rocket science
Everybody should have multiple accounts
1% doesn’t feel like a lot but it is.
Let’s say you make 8% profit one year, taking 1% fees means you lose 12.5% of that profit. Massive. Even worse if you lost money they still get paid no matter what! That’s why investment bankers are so highly paid.