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 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 cryptocurrency assets are held in your Bakkt Crypto account and your trades are executed by Bakkt Crypto.
When you buy crypto using the Public app, the purchase price is transferred out of your Public Investing brokerage account and to Bakkt Crypto. When you sell crypto using the Public app, the proceeds from that sale are transferred from Bakkt Crypto into your Publiv Investing brokerage account. The movement of money between Bakkt Crypto and your Public Investing brokerage account will be summarized in a daily "Trade Summary" email you’ll receive directly from Bakkt Crypto.
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!
To trade cryptocurrency via the Public mobile app or website, you must first open an account with Bakkt Crypto. All cryptocurrency account, trading, and custody services are provided to you by Bakkt Crypto.
Cryptocurrency services on Public are provided by Bakkt Crypto Solutions, LLC (“Bakkt Crypto”). Your cryptocurrency assets are held in your Bakkt Crypto account, and Bakkt Crypto handles your cryptocurrency orders. Bakkt Crypto is a licensed virtual currency business by the New York State Department of Financial Services and a licensed money transmitter. Bakkt Crypto is not a registered broker-dealer or a FINRA member. Your Bakkt Crypto account is separate from your brokerage account with Open to the Public Investing (“Public Investing”), which holds US-listed stocks and ETFs. Public Investing is a registered broker-dealer and FINRA member, and is not affiliated with Bakkt Crypto.