We cover some key differences between cryptocurrencies and stocks in our What Is Cryptocurrency article, but are there differences in trading stocks and cryptocurrencies on Public?
For the most part, your experience is very similar. You don’t need to manage a separate account, you deposit and withdraw money to trade the same way, and the steps for buying and selling are nearly identical.
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 Bakkt Crypto Solutions, LLC (formerly Apex Clearing) and Bakkt Crypto Solutions, LLC accounts.
There are also some differences behind the scenes here at Public. When you trade crypto using the Public app, your trades are executed by Bakkt Crypto Solutions, LLC and your crypto is held in your Bakkt Crypto account. That Bakkt Crypto Solutions, LLC 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 Bakkt Crypto Solutions, LLC. When you sell crypto, the proceeds from that sale are transferred from Bakkt Crypto Solutions, LLC into your brokerage account. The movement of money between Bakkt Crypto Solutions, LLC and your brokerage account will be summarized in a daily email you’ll receive from our partner Bakkt Crypto Solutions, LLC.
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!