By
Steve Muchoki
April 25th, 2024
As a precautionary measure, Public.com has added a volatility reminder to ensure its customers are well informed on the market unfoldings.
Commission-free stock trading platform Public.com has announced that it is adding crypto trading on its platform. According to the company through a blog post, Public customers will be able to buy, sell and hold digital assets that are provided. Notably, the firm has announced it will begin with 10 crypto assets.
“Members can now explore ten cryptos in the app: Bitcoin (BTC), Ether (ETH), Cardano (ADA), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Stellar (XLM), Ethereum Classic (ETC), Dash (DASH), and Zcash (ZEC),” the company noted in the post.
The firm noted that the move to explore crypto assets has been advised by increased demand for digital assets in the last year. The company cited a recent report by the University of Chicago that suggested that approximately 13% of Americans have traded cryptocurrencies in 2021. In comparison to the stock market, 24% of Americans invested in the stock market during the same period. An indication the crypto market has been adopted at a much faster rate than the traditional stock market.
The company has indicated its plans to inform investors of the pros and cons of the crypto market. “With so many investors interested in learning about crypto, we’ve included contextual information in our product to help educate our members on the journey,” the company reported.
Mind you, the crypto industry is highly volatile due to its speculative nature. Additionally, most digital assets are small or mid-cap assets that are seen to have higher risks, but in turn, offer higher returns in the long run.
As a precautionary measure, Public.com has added a crypto volatility reminder to ensure its customers are well informed on the market unfoldings. “Volatility Reminders are an extension of our Safety Labels feature, which flag potentially risky stocks as per the SEC. This includes micro-cap stocks, leveraged ETFs, bankrupt companies, and highly volatile meme stocks,” the firm explained.
Public.com and the Crypto Market
The crypto market has received huge backing worldwide following clear regulations from different jurisdictions. Notably, El Salvador is celebrating a month since adopting Bitcoin as a legal tender alongside the United States dollar.
Additionally, the other states including Brazil are looking to follow in similar footsteps of making Bitcoin the legal tender. Recently, Fed Chair Jerome Powell during a hearing with the Senate committee stated that there are no intentions to ban crypto from market trading.
Consequently, institutional investors are now seeking crypto exposure to hedge against impending inflation. Hereby, trading platforms including Public and Robinhood have introduced crypto trading as a way to make extra money.