Public.com unveils cryptocurrency trading platform

0

Public.com – operated by Public Holdings Inc. – launches crypto trading in the digital currency market. Join competitors such as Robinhood Markets Inc.

The investment platform, Public.com, went public in 2019. At the time, investors in the platform only traded US-listed stocks and exchange-traded funds.

That said, Public.com does not allow margin or option trading, which is potentially risky for individual investors. Robinhood, on the other hand, works differently.

Starting Thursday, Public.com will slowly unveil crypto offerings to most users, who will trade and even hold at least ten digital currencies, including the Cardano ADA token, Dogecoin, and Bitcoin. The investment platform will, however, exclude New York residents from the offering citing licensing issues in the state.

Public.com is a smaller competitor

The investment platform offering comes when most investors buy and sell digital currencies, attracted by the promise of huge potential earnings.

Recently, Bitcoin prices have climbed to nearly $ 54,204. Altcoins have also seen a price spike this year. Likewise for Dogecoin, which rose sharply to around 4,800%.

1

Minimum deposit

$ 50

Exclusive promotion

Over 3,000 assets, including currencies, stocks, cryptocurrencies, ETFs, indices and commodities

Buy crypto or trade cryptocurrencies via CFDs

CopyPortfolios: innovative and fully managed investment strategies

CFDs are complex instruments and come with a high risk of losing money quickly due to leverage. 67% of retail investor accounts lose money when trading CFDs with this provider. You have to ask yourself if you understand how CFDs work and if you can afford to take the high risk of losing your money.

Stephen Sikes, COO at Public.com, said a new generation of investors is emerging and they are (only) drawn to crypto as an asset class. “We also believe … that there is some validity in including crypto in a broadly diversified portfolio.”

Compared to Fidelity Investments Inc. or Robinhood, Public.com is a small competitor trying to find its way into the increasingly crowded retail investment space. And it has 90% new individual investors. To date, Public.com has 1 million active members.

The platform encourages free trade to increase income

The social features of the investment platform allow users to follow other investors and share ideas, as it aims to protect its investors from “external forces”. Public.com, despite restricting margins and options trading, is an excellent platform for high volatility.

Last year, Public.com banned users from purchasing Hertz Global Holdings shares as their the company’s shares fell dramatically. Since meme stock rally, Public.com has included security labels on its platform, warning investors of potential financial losses to GameStop Corp, stocks and the like – something they’ve done for more volatile businesses.

Public.com has since discontinued the practice of payment for order flow, which allowed brokerage firms to route customer orders to trading companies in exchange for payment.

Supporters of the practice of payment for order flow have said that it promotes free trade and allows individual investors to benefit from a better trading process.

Unfortunately, Public.com ended payment for orders earlier this year. But has since introduced a model for users to tip the company. Due to the high volatility of cryptos, Public.com will also include volatility reminders on the crypto pages.


Source link

Share.

Leave A Reply