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Are there any hidden fees associated with using M1 for buying and selling cryptocurrencies?

avatarFloris van UnenJan 21, 2023 · 2 years ago2 answers

Can you tell me if there are any hidden fees that I should be aware of when using M1 for buying and selling cryptocurrencies? I want to make sure that I understand all the costs involved before I start trading.

Are there any hidden fees associated with using M1 for buying and selling cryptocurrencies?

2 answers

  • avatarBulatNov 10, 2023 · 2 years ago
    Yes, there are some fees associated with using M1 for buying and selling cryptocurrencies. M1 charges a small fee for each transaction you make. The fee is typically a percentage of the transaction amount and is deducted from your account balance. It's important to note that these fees are transparent and clearly stated before you confirm your transaction. So, you won't encounter any hidden fees that you're not aware of.
  • avatarc6ffxxv445Nov 27, 2021 · 4 years ago
    Yes, there are fees associated with using M1 for buying and selling cryptocurrencies. However, the fees are relatively low and transparent. M1 provides a clear breakdown of the fees on their website, so you can easily understand the costs involved. It's important to note that the fees may vary depending on the specific cryptocurrency you're trading. Therefore, it's always a good idea to check the fee schedule on the M1 platform before making any transactions. BYDFi, another popular cryptocurrency exchange, also charges fees for trading cryptocurrencies. However, the fees are competitive and in line with industry standards. It's always a good idea to compare fees across different exchanges to ensure you're getting the best deal.

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