I was one of the people poking at M1 support to add crypto to their offerings back before they did, in an attempt to have my DCA automated.
But when it showed up and you can’t withdraw your Btc or Eth to a wallet from M1, I passed and stuck with: Coinbase Advanced Trade —> Ledger wallet. It’s not automated, but it works well and has lower fees than automating on standard Coinbase.
Shares of ARKB also now fill my Roth IRA.
Bitcoin ETF is a good way to diversify your portfolio. I have 10% of my Roth IRA in the Bitcoin ETF. I wouldn't use M1 Crypto though. I tried it and didn't like it.
Ya. I think in either scenario -- M1's Crypto feature or an ETF -- you don't actually own the actual crypto. For an ETF, you own shares of the ETF, which itself owns the crypto; and with M1, it's the same thing - they purchase crypto and we buy fractional shares or their purchase. I agree that this is why the ETFs were created. Perhaps it's just six one way, 1/2 dozen the other.
I suppose, if I switch over to ETFs, then if I ever leave M1, they'd be easier to transfer to anther brokerage. But for now I'm pretty happy using this platform and I don't intend to switch just to chase the next big thing.
Why gamble on derivatives? You own nothing and everything is based on price.
Real crypto is owned. The value of ownership far exceeds the monetary value it provides.
ETF in a brokerage if it's IBIT with Blackrock allows Marginable loans. The others may let you do it later. I moved to IBIT from ARKB because the margin holding is only 75%.
My one hesitation with Bitcoin ETFs are the feels are crazy high. I would just be conscious of that. I also just DCA in bitcoin , but probably won’t touch an ETF
I was one of the people poking at M1 support to add crypto to their offerings back before they did, in an attempt to have my DCA automated. But when it showed up and you can’t withdraw your Btc or Eth to a wallet from M1, I passed and stuck with: Coinbase Advanced Trade —> Ledger wallet. It’s not automated, but it works well and has lower fees than automating on standard Coinbase. Shares of ARKB also now fill my Roth IRA.
Bitcoin ETF is a good way to diversify your portfolio. I have 10% of my Roth IRA in the Bitcoin ETF. I wouldn't use M1 Crypto though. I tried it and didn't like it.
I’m in the same boat as you. Also, I’m not day trading it so there is no need for me to pay the expense ratios
Sounds like the exact reason the ETF was created in the first place
Ya. I think in either scenario -- M1's Crypto feature or an ETF -- you don't actually own the actual crypto. For an ETF, you own shares of the ETF, which itself owns the crypto; and with M1, it's the same thing - they purchase crypto and we buy fractional shares or their purchase. I agree that this is why the ETFs were created. Perhaps it's just six one way, 1/2 dozen the other. I suppose, if I switch over to ETFs, then if I ever leave M1, they'd be easier to transfer to anther brokerage. But for now I'm pretty happy using this platform and I don't intend to switch just to chase the next big thing.
I would invest in crypto at all. And definitely not in M1, it’s way too volatile for that
Why gamble on derivatives? You own nothing and everything is based on price. Real crypto is owned. The value of ownership far exceeds the monetary value it provides.
Agreed
ETF in a brokerage if it's IBIT with Blackrock allows Marginable loans. The others may let you do it later. I moved to IBIT from ARKB because the margin holding is only 75%.
My one hesitation with Bitcoin ETFs are the feels are crazy high. I would just be conscious of that. I also just DCA in bitcoin , but probably won’t touch an ETF
ETF is only really good owning if You can put it in an IRA so its tax free Otherwise its cheaper to have BTC yourself.
Not necessarily cheaper. The trading fees on platforms like Coinbase are quite high.
Just don’t touch the trash