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Can You Buy Bitcoin On M1 Finance?

M1 Finance is known for trading stocks, ETFs, and portfolios on their Robo-advisory online trading platform. But with so many different financial assets on the market, what else does M1 Finance have to offer? Can you buy bitcoin on M1 Finance?

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In short, you can not buy Bitcoin on M1 Finance. Unlike other trading platforms like Robinhood, Coinbase, and more, M1 Finance does not have cryptocurrency investing options. It might be due to their policy against day trading. 

In this article, I will discuss in detail whether or not you can buy Bitcoin on the trading platform, what you can trade on M1 Finance, and its policies. I will also explore more options for cryptocurrency trading, so make sure to stick to the end.

Let’s get started!

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Does M1 Finance trade in cryptocurrencies?

M1 Finance does not offer trading in cryptocurrencies. Perhaps there are two reasons why the platform does not deal in cryptos. Cryptos are considered highly unstable investments. M1 Finance encourages individuals to make smart and long-term investments, and this is why it offers so many different incentives for passive investors.

New investors are drawn to the idea of day trading in the hopes that they’ll get rich quickly. However, they end up losing a considerable amount of money in this endeavor. To discourage day trading and promote long-term smart investing, M1 Finance has a single trade window for basic users and two trade windows for M1 Plus users.

FYI: The best way I've found to invest in ETFs is through M1 Finance. It's free and you even get an instant line of credit! Have a look here (link to M1 Finance).

Will M1 Finance offer cryptocurrency investing in the future?

With the recent spike in Dogecoin’s value, many trading platforms have jumped on the cryptocurrency bandwagon. However, M1 Finance still does not offer cryptocurrency trading. Talking about Dogecoin, the platform was eager to state that the phenomenon was interesting to watch, but they would not be offering crypto anytime soon.

M1 Finance went on to state that the platform was built to provide tools to investors to create durable wealth and advocate a long-term investing mindset. Perhaps it might be too soon to answer this question. The world is changing and many countries like El Salvador have started adopting this financial asset. Maybe M1 Finance might come around in the future when the crypto market is stable.

NOTE: The easiest way to add diversification to your portfolio is to invest in real estate through Fundrise. You can become private real estate investor without the burden of property management! Check it out here (link to Fundrise).

Does M1 Finance trade in forex?

Forex is one of the most common financial assets you will find at a brokerage. Unfortunately, M1 Finance does not deal in Forex. The vast trading volume of forex causes prices to be highly volatile, which can work in favor of day traders, something M1 Finance discourages. Besides forex, M1 Finance does not offer commodities, indices, futures, and options.

There are other financial assets that individuals can invest in using M1 Finance. The brokerage offers the option to invest in shares, either buying individual shares or fractional. You can also trade in ETFs, a fund that is a mixture of many different securities that help diversify investments.

FYI: Another great way to get exposure to the real estate sector is by investing in real estate debt. Groundfloor offers fantastic short-term, high-yield bonds that can add diversification to your portfolio!

Is trading on M1 Finance a good option for investors?

Whether or not M1 Finance is a good option depends on your investment goals. The lack of financial assets on the platform may force some investors to look at other brokerages. The single window period may also ward off some investors looking to day trade. However, those looking to make long-term investments can grow their wealth using M1 Finance and its features. 

M1 Finance offers automated deposits, control over your portfolio, and zero trading fees. Besides helping save time, these features also save a considerable amount of money over a few years which is further re-invested in your portfolio. This makes M1 Finance one of the best options out there for passive investors.

ALSO: Small-cap equities can add a lot of upside to a portfolio while mitigating risks. Recently, I've discovered Mainvest's investment platform which makes it easy to invest in small and local businesses with returns of 10-25%. Take a look here (link to Mainvest).

What features make M1 Finance a great trading platform?

M1 Finance offers fractional shares, unlike many other platforms. This allows individuals to buy a fraction of a single expensive stock that they would normally not be able to afford. However, individuals can also purchase a single blue-chip stock if they have the funds for it.

Besides fractional shares, the platform has great tools like auto-rebalancing. Every time you invest money, auto-rebalancing distributes the funds and invests them according to your portfolio target percentages. It helps save a lot of time and effort.

Users can even link their bank accounts directly to an M1 account. Users can then set the deposit amount they wish to invest and the frequency of the investments. This automates all your deposits without you needing to transfer money from your bank every time you wish to invest. This is why passive investors prefer M1 Finance over other brokerages.

How can you make money using M1 Finance?

M1 Finance has three options, invest, borrow, and spend. Users can take advantage of some of the features available on M1 Finance to further increase their wealth. You’ll have more money invested in your portfolio with M1 Finance than any other brokerage since the platform does not have any trading fees or commission fees. 

The second option, borrow, allows users to borrow up to 35% of their portfolio amount at low-interest rates. Depending on your profile, you may even get interest rates as low as 2%. You can use this money to fund your business, startups, or further re-invest elsewhere.

The third option, spend, gives users an M1 visa card debit card that can be used anywhere Visa cards are accepted. The low fees help save money, but if you’re an M1 Plus user, you can also get 1% cashback every time you spend and 1% APY every time you don’t. 

Conclusion: Should you join M1 Finance?

If you’re looking to invest money in cryptocurrencies, then you will need to look at other platforms like Robinhood, Binance, and more. M1 Finance does not have any option for crypto investing and there is uncertainty whether they will adopt these financial assets in the future. 

However, if you’re looking to start your journey towards financial freedom and want to grow your wealth, M1 Finance offers a range of tools to help you achieve your long-term investment goals.

Current recommendations:

Over the past years, I have discovered several tools and products that have helped me tremendously on my path to financial freedom:

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1)Personal Capital is simply the best tool out there to track your net worth and plan for financial freedom. Just their retirement planner alone has become an invaluable tool to keep myself on track financially. Try it out, it's free!

2) Take a look at M1 Finance, my favorite broker. I love how easy it is to invest and maintain my portfolio with them. I can set up automatic transfers, rebalance my portfolio with one click and even borrow up to 35% of my assets at super low interest rates!

3) Fundrise is by far the best way I've found to invest in Real Estate. You can diversify your portfolio by investing in their eREITs or even allocate capital to individual properties (without the hassle of managing tenants!).

4) Groundfloor is another great way to get exposure to the real estate sector by investing in short-term, high-yield real estate debt. Current returns are >10% and you can get started with just $10.

5) If you are interested in startup investing, check out Mainvest. I've started allocating a small amount of assets to invest in and support small businesses. Return targets are between 10-25% and you can start with just $100!

To see all of my most up-to-date recommendations, check out the Recommended Tools section.

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