We cover some key differences between cryptocurrencies and stocks in our What Is Cryptocurrency article, but are there differences in trading stocks and cryptocurrencies via the Public app?
The main differences for you are:
Cryptocurrencies can be traded almost 24/7. Trading will be unavailable during a daily maintenance period from 5:30-6:05pm ET.
Since trading is almost 24/7, your portfolio value will change constantly, not just during stock market hours.
Cryptocurrencies tend to be more volatile than stocks, so you may see larger swings in the value of your portfolio.
Stocks and funds involve investments in specific companies or groups of companies. With crypto, the signals investors look to tend to be a little different. We've added educational cards on each crypto asset we offer so you can learn more.
In addition to receiving a trade confirmation email for each cryptocurrency trade, you will also receive a daily Net Transfer Notification email, detailing the funds transferred between your zerohash account.
There are also some differences behind the scenes here at Public. When you trade crypto using the Public app, your cryptocurrency assets are held in your zerohash account and your trades are executed by zerohash.
When you buy crypto using the Public app, the purchase price is transferred out of your Public Investing brokerage account and to zerohash. When you sell crypto using the Public app, the proceeds from that sale are transferred from zerohash into your Public Investing brokerage account. The movement of money between zerohash and your Public Investing brokerage account will be summarized in a daily "Trade Summary" email you’ll receive directly from zerohash.
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 support@public.com!