In Brief:
- Investing platform public.com launches crypto trading services
- Members will be able to trade 10 cryptocurrencies in the app,
- Apex Crypto will give execution and custody services for the Public’s new features.
New york-based investing platform public.com launches crypto trading services for its clients.
According to the announcement, members will be able to buy/sell and hold crypto assets in the same app they use to manage their stock market portfolios. The new crypto trading services will be rolled out to eligible members gradually over the next several weeks.
Previously, users of Public.com could trade only, U.S.-listed stocks and exchange-traded funds. Now Crypto trading is added to its platform however leverage trading is excluded due to high risks involved.
The online brokerage said members can now explore ten crypto currencies in the app. It includes Bitcoin, Ether, Cardano, Dogecoin, Litecoin, Bitcoin Cash, Stellar, Ethereum Classic, Dash, and Zcash. The company said in the statement that members can invest with as little as $1 when new features are available to them. The crypto investors on Public can also set limit orders for buying and selling.
Volatility Reminders Added
Investors are highly interested in learning about crypto; the company included “Contextual information” in the new launch.
“The prices of cryptos can be volatile in the short term and tend to follow different patterns than stock market securities,” said a blog post. “We’ve added Volatility Reminders to crypto pages to ensure our members can make their own decisions with context.”
Volatility Reminders are an extension of our Safety Labels features which flag potentially risky stocks as per the SEC.
Apex Crypto will give execution and custody services for the Public’s new crypto-trading features. The company said about a crypto wallet: “Currently we do not provide a crypto wallet, but we understand that this is something that some of our members may want and are working toward this in the future.”
Also Read: US Bank Now Offers Bitcoin Custody Services
Currently, Apex Crypto does not have a BitLicense in New York State. The new features will not be immediately available to residents of New York. The members of New York will have the opportunity to see crypto pages and content in the app. They are not able to trade until Apex Crypto obtains its BitLicense. The mission of the company is to make the public markets work for all people.
