When you submit an order to buy or sell cryptocurrency using the Public app, that order is sent to Apex Crypto for execution and Apex Crypto holds your crypto.
Apex Crypto charges a 1% to 2% markup to pay for their service, which is reflected in the price at which Apex Crypto executes your order to buy or sell cryptocurrency. The markup covers all of the costs associated with facilitating crypto transactions and storing crypto, and Public receives some of the revenue generated in exchange for licensing our software to Apex Crypto.
Here’s how it works:
Say the current market price for cryptocurrency XYZ is $100.
You purchase $100 worth of XYZ.
Applying a 1% markup, Apex Crypto executes your order for XYZ at a price of $101.
You will own slightly less than 1 full XYZ given the markup.
Is a Markup a type of commission?
A commission is simply a service charge assessed by a brokerage firm for handling purchases and sales of securities. Public doesn't assess commission on standard securities trades. Crypto is not a security and crypto trading is done through Apex Crypto and Apex Crypto charges mark up.
If you ever have questions, the team is always here for you, so feel free to give us a shout on the app’s Live Chat or via email at firstname.lastname@example.org!