Crypto documents can be found in your settings under the “Documents” tab.
No, NFTs are not currently supported.
M1 does not currently support any Initial Coin Offerings.
At this time, only US Citizens and Permanent Residents (Green Card holders) and certain visa holders, over the age of 18 with a current US residential address and US phone number can apply to open an account.
Due to state regulations, residents of New York will see a limited list of coins available to them under the Research tab.
Some coins may become “liquidate only” if you move to New York.
M1 Crypto assets are stored with Bakkt Crypto Solutions, who has relationships with trusted institutional custodians and wallet providers to store clients' assets in secure omnibus custodial wallets. Cryptocurrency assets are generally stored in cold storage solutions, providing additional safeguards for crypto holdings.
M1 partners with Bakkt Crypto Solutions, who contracts with third party wallet security experts to review security controls regularly. The review of these controls is to ensure that best practices around protection of cryptocurrency assets are continually being implemented. Wallet contents are reviewed daily and audited monthly by Bakkt Crypto Solutions and audited annually by independent financial auditors.
Individual wallets and private keys are currently not supported. Since assets are stored in omnibus custodial wallets and controlled by Bakkt Crypto Solutions, account holders do not have dedicated wallets and therefore do not have their own private keys. Bakkt Crypto Solutions maintains detailed books and records for all account holder transactions and positions. Additionally, following settlement of transactions, account holders’ assets are regularly swept into cold storage for greater security.
M1 and Bakkt Crypto Solutions currently do not support direct transfers from one wallet to another. However, you can sell your crypto positions and withdraw cash to a linked bank account.
Not at this time. Both on-chain deposits and off-chain withdrawals will be supported but this will be offered in subsequent product releases.
No, crypto assets cannot be lent out or traded on margin. Accordingly, assets are fully paid for and are not lent out by Bakkt Crypto Solutions account holders, Bakkt Crypto Solutions itself, or Bakkt Crypto Solutions' omnibus wallet providers.
Your Crypto Account is a cash account and does not have Margin Loan capabilities. Cash must be deposited into your account in order to purchase crypto.
However, Margin Loan funds from your taxable account can be transferred to your Crypto Account.
No, clients cannot combine crypto assets with equities by creating pies with single stocks, ETFs, and cryptocurrencies. Crypto assets will be held in a separate account.
No, M1 does not currently offer the ability to hold crypto assets in Individual Retirement Accounts.
Investing in cryptocurrency comes with significant risk and may not be suitable for everyone. Based on your specific situation and financial condition, carefully consider whether investing in cryptocurrencies is suitable for you. For relevant disclosures and risks, visit Crypto Disclosures.
Crypto services, execution, and custody are provided by Bakkt Crypto Solutions LLC (NMLS ID 1828849) through a software licensing agreement with M1 Digital LLC. Bakkt Crypto Solutions LLC and M1 Digital LLC are not registered broker-dealers or FINRA members and your crypto holdings are not securities and are not FDIC or SIPC insured.
M1 Digital LLC is a wholly separate affiliate of M1 Finance LLC, and neither are involved with the execution or custody of cryptocurrencies.
SAIF-07012024-1na8ewtt
Related Articles
Open my account
What securities does M1 support?
How M1 Trades Crypto
Crypto Basics
Crypto Getting Started
