Review: Trading Crypto on Free Public.com App

6 min readFeb 23, 2022

I went into this review of the Public.com investment app with the express purpose of trading cryptocurrency.

With the Public.com App, you can share your portfolio with other people and go through theirs, which is a nice social networking touch.

Investing with Public doesn’t need a minimum initial investment, like it does with many other online brokers. Payment For Order Flow, in which brokers are compensated for routing orders to third parties for trade execution, is also absent from this model. Trades on Public are rewarded with tips. You have the option of rewarding your broker for completing the transaction with a gratuity. As a result, broker-customer conflicts of interest can be avoided.

The ability to purchase fractional shares (referred to as “slices”) is another major selling point for Public. This means that you can buy a fraction of a share of a company’s equity. If you want to buy Amazon, which is presently trading for over $1,880 per share, you’ll need fractional shares, starting at $0.50 per $1000.

The capabilities of Public are a bit restricted when compared to larger brokerages that offer allow you to trade stocks and ETFs without paying fees. Investing in stocks is difficult for the general public because of their lack of support for mutual funds, bonds, and other types of investments.

“Everyone is an Investor” is Public’s catchphrase. If you’re searching for an app that makes it simple to purchase and sell stocks, this is a great option for you. As long as you keep in mind that it doesn’t offer all the features that you’ll find in other online brokers.

How does the app work?

The process of opening a Public account is simple and quick. It took me less than five minutes to set up for a new account.

Once you’ve signed up and funded your account, you’ll be able to easily browse the site, search for crypto, stocks and ETFs, see what other people have invested in, and begin buying and selling. It’s also possible to finance your Public account without requiring access to your bank account. Because of this, consumers who are cautious about integrating third-party websites with their bank accounts can utilize debit cards.

For the time being, Public only provides tax-free brokerage accounts for individuals. A joint account or an IRA is not available.

Each supported security can have its basic information shown. That contains a price history, analyst ratings and price predictions, future earnings events, current news, and the most basic basics of the business.

A excellent starting point is provided, however it may be wise to conduct more research before making a purchase or selling stock. For a novice, it’s a lot of information to take in, but for an experienced or advanced investor, it’s a piece of cake.

Absence of Fees

There are no fees or charges associated with trading on Public. Some tiny SEC and TAF fees may be charged by every brokerage, although most public traders will never spend more than a few cents.

Themes

With the help of “themes,” you may sort stocks and mutual funds. A good example of this is “Race to Space,” which highlights businesses that are set to gain from the coming space revolution. Shopify and GoDaddy are also included in this list of companies. I’m not sure that these two companies have anything to do with space travel, but they were listed nonetheless.

Investing in Fractional Shares

Instead of placing orders for a certain number of shares, you can purchase “Slices” of shares, which are fractions of a whole share. You only need to input a monetary amount to do this. You can purchase as many Slices as you like.

It is possible to invest $100 in 0.1 shares of a stock that costs $1,000 a share. In this instance, if you wish to invest $500 in a stock that costs $300 per share, you may acquire 1.6 shares. As a result, every aggressive trader or long-term investor may afford practically any stock or ETF.

Publicly Listed Investors

An investor profile with a public username is created when you register for a Public account. All members of the public can see your profile. You might get ideas and inspiration from other investors’ profiles. Profiles belonging to well-known people may also be found and viewed with a few clicks of the mouse. It’s also possible to search for people you know on the site by connecting to your phone’s contact book.

Social Side of Trading

Inquiry concerning an investment in a firm you’ve invested in or are considering investing in is always welcome. You may meet the company’s founders and CEOs by attending one of Public’s Town Halls. They’re in-app Q&As that are both live and written. If you’d want to ask a question ahead of time, you can do so during the live broadcast. It’s a good idea to keep an eye on the app to see who will be attending Public’s upcoming Town Halls.

Security

A label will appear on the product’s page on Public.com if the Securities and Exchange Commission considers it to be dangerous. Public.com categorizes stocks based on their level of risk, and it has a list of the most dangerous ones. Companies that have filed for bankruptcy are more likely to fail than those that are earning money. Knowing if a stock or ETF is more or less risky enables you to make an informed investment decision.

Each customer’s investment in securities is covered to a maximum of $500,000. Account Security Public is SIPC-insured. Additionally, cash payments up to $250,000 are included in this insurance policy.

On the technology side, all data is safeguarded by Transport Layer Security (TLS) and 128-bit encryption for public accounts.

Cryptocurrency Investment on Public

Public currently offers over 25 cryptos, including Bitcoin (BTC), Ether (ETH), Solana (SOL), and Shiba Inu (SHIB). Recognizing the volatility in crypto trading, they offer “Volatility Reminders,” which may be especially helpful for newer traders. Dig further by scrolling through informative presentations that accompany each cryptocurrency in the app. Users can find out which cryptocurrencies other people are investing in, and why they’re doing so.

Apex Crypto partnered with Public.com to provide execution and custody services. They do not offer individual crypto wallets.

In Review

If you prefer an app-based trading experience, Public is a great spot to start buying and selling both crypto and stocks. New users no longer have to be intimidated by the process of creating a trading account thanks to the app’s straightforward interface. If you’re drawn to the social side of crypto trading, this app may very well be for you.

Intermediate to expert traders and investors are likely to find Public’s offerings insufficient. Public isn’t for everyone, but it’s a good option for beginning investors who want to dip their toes into the world of crypto, stocks and ETFs.

If you’d like to give it a try, download the free Public.com app and begin trading with no minimums.