| Website |
https://www.coinbase.com |
https://www.m1finance.com |
| Pros |
- Access to Bitcoin, Ethereum, Litecoin, Dash, and dozens of other cryptocurrencies.
- Most trustworthy and long-lasting Cryptocurrency exchange.
- Provides tax documents for cryptocurrencies.
- Allows transferring your cryptocurrencies to a private wallet.
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- No advisor fee, trading fee, or monthly fee.
- Concept of “Pies” - preset portfolios you can pick with a single click.
- Automatic investing enables rebalancing your portfolio as you make new contributions.
- Borrow against your portfolio with a low-interest loan.
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| Cons |
- Very high transaction fees compared to stock market investing.
- Speculating in cryptocurrencies is dangerous, and can result in 100% loss due to hacked accounts or other attacks.
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- No tax-loss harvesting
- By adding multiple pies you can easily create an overly complicated portfolio of portfolios that duplicates investments.
- Limited trading time - On a free account, all of your transactions will happen in the morning. With an M1 Plus account, you can also trade in the afternoon.
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| Promotions |
- Get $10 in free Bitcoin by opening an account with $100.
- Earn up to $40 by going through Coinbase tutorials.
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| Fees |
- $0.99 trade fee for transactions $0-$10.
- $1.49 trade fee for transactions $10-$25.
- $1.99 trade fee for transactions $25-$50.
- $2.99 trade fee for transactions $50-$200.
- 0.50% fee for transactions above $200.
- 1.49% trade fee for transactions from a US Bank Account.
- 3.99% trade fee for transactions from a Debit Card.
- Coinbase’s Fees are far higher than investing in the stock market.
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- No management fee - M1 Finance changes no advisor fee.
- $125/yr fee for an M1 Plus Account.
- Additional Fees for various other one-off services like wire transfers, paperwork, or account conversions.
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