How can I use M1 checking to securely store my digital assets?

3 answers

• Nov 28, 2021 · 3 years ago
  Yes, you can use M1 checking to securely store your digital assets. M1 Finance is a reputable financial institution that offers FDIC insurance for up to $250,000 per account. This means that your funds in M1 checking are protected against bank failures. However, it's important to note that M1 checking is not specifically designed for storing cryptocurrencies. If you're primarily looking to store cryptocurrencies, it's recommended to use a dedicated cryptocurrency wallet or hardware wallet for enhanced security.
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• Nov 28, 2021 · 3 years ago
  Absolutely! M1 checking provides a secure option for storing your digital assets. With M1 Finance's robust security measures, including encryption and multi-factor authentication, you can have peace of mind knowing that your assets are protected. Additionally, M1 Finance has a strong track record of safeguarding customer funds and employs industry-standard security practices. Just make sure to follow best practices for securing your account, such as using a strong password and enabling two-factor authentication.
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• Nov 28, 2021 · 3 years ago
  While M1 checking can be used to store your digital assets, it's important to consider the limitations. M1 Finance is primarily a brokerage platform, and while they offer FDIC insurance for their checking accounts, they do not provide the same level of security for cryptocurrencies as dedicated cryptocurrency wallets. If you're looking for the highest level of security for your digital assets, it's recommended to explore other options such as hardware wallets or cold storage solutions. However, if you're comfortable with the level of security provided by M1 Finance and primarily hold traditional assets, using M1 checking can be a convenient option.
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