Each day you buy or sell a cryptocurrency through Public, you will receive an email from Apex Crypto with the subject line “Net Transfer Notification.” This email explains the behind-the-scenes movement of funds.
When you enable cryptocurrency trading on Public, you open a cryptocurrency account at Apex Crypto. Your crypto is held in that Apex Crypto account. That Apex Crypto account is linked to your Public brokerage account.
When you buy crypto using the Public app, the purchase price is transferred out of your brokerage account and to Apex Crypto. When you sell crypto using the Public app, Apex Crypto transfers the proceeds from that sale into your brokerage account. The movement of cash between your brokerage account and Apex Crypto happens automatically and doesn’t require any work on your end!
For example, if you bought $100 of XYZ coin, $100 would be transferred from your Public brokerage account, which is held at Apex Clearing, to your Apex Crypto account and then used to complete the transaction. If you then sold that $100 of XYZ coin, the $100 would be transferred from your Apex Crypto account back to your brokerage account.
If you ever have questions, the team is always here for you, so feel free to give us a shout on the app’s Chat or via email at firstname.lastname@example.org.