The Wall Street Journal reported (WSJ) that the site Public.com, the investment platform operated by Public Holdings, has started trading bitcoin to more than a million customers.
Retail investors using the platform are now able to have indirect exposure to Bitcoin, as well as trade US stocks and exchange-traded funds (ETFs).ETFs).
Said the chief operating officer of the site Public.com Stephen Sikes:
“Cryptocurrency has really attracted a new generation of investors to it as an asset class. We believe there is some authority to include crypto in a broadly diversified portfolio.”
The new feature will be rolled out gradually, starting from 7 October, for most users of the site, who will now be able to buy, sell and hold Bitcoin and nine Other cryptocurrencies.
But New Yorkers won't be eligible to enjoy the new feature initially, because the company's service partner doesn't have the required license in the state yet
The site was launched in 2019, which gives retail investors the opportunity to trade US stocks and ETFs, as opposed to competing major retail investor platform Robinhood, which provides clients with margin trading options and tools.
Advantages of Public Holdings Platform
Another aspect that distinguishes competing firms is co-pays for order flow, which is a common practice for brokerages to route clients' orders to high-speed trading firms in exchange for payments.
Paying for order flow allows brokers to offer trade transactions at no charge, but encourages high-frequency trade transactions to maximize revenue.
The site includes social features on its platform that bring investors together to exchange ideas and follow each other.
The production manager said on the site Public.com MaryAlexa Divver, told The Journal that the investment platform will provide clients with educational content on Bitcoin and cryptocurrencies.
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