Cryptocurrency is transforming the way individuals manage and grow their wealth. As digital assets gain mainstream adoption, platforms like M1 are integrating crypto into their investment ecosystems—offering users a streamlined way to buy, hold, and manage digital currencies alongside traditional assets. However, with innovation comes complexity. This comprehensive guide answers the most frequently asked questions about M1’s crypto offerings, covering storage, accessibility, regulations, and security. Whether you're new to crypto or expanding your digital portfolio, this resource ensures you’re informed and confident in your decisions.
Where Can I Access My Crypto Documents?
All your cryptocurrency-related documents are securely stored within your M1 account. Simply navigate to the “Documents” tab in your account settings to view transaction histories, tax forms, and other essential records. These documents are updated regularly and can be downloaded for personal or tax purposes.
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Does M1 Support NFTs and ICOs?
Currently, M1 does not support Non-Fungible Tokens (NFTs) or Initial Coin Offerings (ICOs). The platform focuses on established cryptocurrencies that meet strict compliance and security standards. While future expansions may include broader digital asset classes, NFTs and ICOs are excluded due to their speculative nature and regulatory uncertainties.
Can Non-U.S. Residents Open a Crypto Account?
At this time, only U.S. citizens, permanent residents (Green Card holders), and certain visa holders aged 18 or older with a valid U.S. residential address and phone number can open a crypto account through M1. International users are unable to access these services due to regulatory restrictions and custodial limitations.
How Are Crypto Assets Stored on M1?
Your cryptocurrency holdings are safeguarded through Bakkt Crypto Solutions, a trusted institutional custodian. Assets are stored in secure omnibus custodial wallets, with the majority held in cold storage—offline environments that significantly reduce exposure to hacking and cyber threats.
It’s important to note:
Cryptocurrencies are not insured by the FDIC or SIPC, nor are they classified as securities. This means losses due to market volatility or cyber incidents are not covered by federal insurance programs.
What Security Measures Protect My Crypto?
M1 partners with Bakkt Crypto Solutions to implement enterprise-grade security protocols:
- Regular reviews by third-party wallet security experts
- Daily reconciliation of wallet contents
- Monthly internal audits and annual independent financial audits
These practices ensure that best-in-class safeguards are continuously applied to protect your digital assets.
Do I Have Access to Private Keys or Individual Wallets?
No. Since assets are held in omnibus custodial wallets, individual account holders do not have access to private keys or dedicated wallets. Bakkt maintains detailed records of all transactions and positions for each user. After settlement, assets are automatically swept into cold storage for enhanced protection.
This model prioritizes security and compliance over self-custody—a trade-off designed to minimize risk for retail investors.
Can I Transfer Crypto Assets In or Out of M1?
Transferring Out
Yes, you can transfer your crypto assets externally—but only by contacting Bakkt Crypto directly via:
- Email: [email protected]
- Phone: 1-800-322-1719
Please note: A $150 fee is charged by Bakkt for each outgoing transfer.
Transferring In
M1 does not support incoming transfers from external wallets. You cannot deposit cryptocurrency directly into your M1 account. Instead, funding must be done using USD from a linked bank account.
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Can I Use On-Chain or Off-Chain Transactions?
Not at this time. Support for on-chain deposits and off-chain withdrawals is planned for future product updates but is currently unavailable. All transactions occur off-chain within the Bakkt system for speed and efficiency.
Will My Crypto Be Lent Out or Used for Margin Trading?
No. M1 does not allow margin lending or borrowing of crypto assets. Your holdings are fully paid for and never loaned out by you, Bakkt, or its custodial partners. This policy protects users from counterparty risks associated with crypto lending platforms.
Can I Take a Margin Loan Against My Crypto Holdings?
Your M1 Crypto Account operates as a cash-only account—meaning you cannot borrow against your crypto positions. To purchase digital assets, you must first deposit USD from a linked bank account.
However, if you have an M1 taxable investment account with margin capabilities, you may transfer margin loan funds into your crypto account.
Can I Combine Stocks and Crypto in One Portfolio?
No. Due to regulatory and operational structures, crypto assets cannot be combined with stocks or ETFs in a single "Pie" (M1’s automated portfolio feature). Cryptocurrencies are held in a separate account from equities and other securities.
This separation ensures compliance with financial regulations while maintaining clear custody boundaries.
Is Crypto Available in Retirement Accounts?
Currently, M1 does not support cryptocurrency in Individual Retirement Accounts (IRAs) or other retirement vehicles. All crypto investments must be made through a standard taxable account.
Frequently Asked Questions (FAQ)
Q: Are my crypto assets FDIC insured?
A: No. Cryptocurrency holdings on M1 are not protected by FDIC or SIPC insurance. They are considered digital assets, not cash or securities.
Q: Why can’t New York residents access all coins?
A: Due to strict state-level regulations like the BitLicense framework, New York residents see a limited selection of available cryptocurrencies under the Research tab.
Q: What happens if I move to New York after buying crypto?
A: Some coins may become “liquidate only,” meaning you can sell them but cannot buy more until you leave the state.
Q: Who executes and holds my crypto trades?
A: Bakkt Crypto Solutions LLC (NMLS ID 1828849) handles execution and custody under a software licensing agreement with M1 Digital LLC.
Q: Can I get customer support directly from Bakkt?
A: Yes. Contact Bakkt Crypto at [email protected] or 1-800-322-1719 for account-specific inquiries.
Q: Are there plans to support more crypto features in the future?
A: Yes. M1 has indicated that on-chain transactions and expanded functionality will be introduced in future product releases.
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Investing in cryptocurrency involves significant risk and may not be suitable for all investors. Carefully evaluate your financial situation before making any decisions. For full disclosures, visit Crypto Disclosures.
Crypto services, execution, and custody are provided by Bakkt Crypto Solutions LLC through a software licensing agreement with M1 Digital LLC. Neither entity is a registered broker-dealer or FINRA member. Your crypto holdings are not securities and are not FDIC or SIPC insured.