Public.com launches crypto offering powered by Apex Crypto
Cryptocurrency trading is offered by Apex Crypto LLC, which handles execution and custody services through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC.
Public.com has entered crypto as the emerging asset class seems unstoppable and more traders want in. The investment platform allows users to invest in crypto assets in the same place where they manage their stock portfolio.
As many as thirteen percent of Americans have traded cryptocurrency in 2021 — and outside that group, many more are curious about learning more as they build a modern, diversified portfolio – according to a study.
That is why Public has finally launched a crypto offering, enabling members to buy, sell, and hold crypto assets in the app. The roll out will be gradual over the next several weeks for eligible members.
For now, Public features ten cryptos in the app: Bitcoin (BTC), Ether (ETH), Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), Ethereum Classic (ETC), Dash (DASH), and Zcash (ZEC). Traders can invest with as little as $1 when the feature is available to them.
The platform also features Limit Orders for buying and selling as these self-directed parameters can help traders to better control their entry and exit prices.
To complement the crypto offering, Public has added contextual information to help educate members on the journey as this will be the first time handling crypto investments for many users and digital assets tend to experience extreme volatility and feature disruptive events such as airdrops and hard forks.
As to volatility, the platform has added Volatility Reminders to crypto pages to ensure members can make their own decisions with context. Public also has reminders for potentially risky stocks as per the SEC, including micro-cap stocks, leveraged ETFs, bankrupt companies, and highly volatile meme stocks.
“Since cryptos are evaluated differently than stock market investments, we’ve included deeper information on each crypto we offer. Tap into a crypto page to browse informational slideshows that share the founding story and thesis, recent headlines, and other pertinent information”, the firm explained in its blog.
“We’re also introducing the Crypto Club on Public Live, a weekly session that provides educational opportunities in the context of real-time events and trends happening in cryptocurrency and blockchain. Just as you’ve come to rely on Public Live and The Open for your in-app market news and notes, Crypto Club on Public Live will help you learn and grow your crypto literacy for the long run”.
Public does not provide a crypto wallet yet, but it is working toward this in the future and crypto is not available in New York either. This is because the firm’s crypto partner, Apex Crypto, does not have a BitLicense in New York state.
“Our New York-based members will have the opportunity to view crypto pages and content in the app but they will not be able to trade until Apex Crypto obtains its BitLicense. We’re working hard alongside our partners at Apex Crypto and are optimistic that crypto will be available to New York residents soon”.
Cryptocurrency trading is offered by Apex Crypto LLC, which handles execution and custody services through a software licensing agreement between Apex Crypto LLC and Public Crypto LLC.
