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Written by Logan Robison on January 17, 2022
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Is Public A Safe And Legitimate App In 2023?

The Public app uses a social media-focused approach when appealing to new investors.

You have the ability to follow other investors and see exactly what they are investing in.

On top of all this, the Public app is free of commissions and has no account minimums. 

Inside the app are over 5,000 stocks and ETFs as well as cryptocurrencies you can invest in as well!

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Is The Public App Safe?

When determining if a financial app is safe, the two things you should look at primarily is if this brokerage is a member of SIPC as well as the app security itself. 

Public is a member of SIPC, so you are fully SIPC insured.

Through the SIPC, you have coverage for up to $500,000 worth of securities. Cash held within the brokerage account for the purpose of investing is covered up to $250,000 as well.

Keep in mind, however, that the SIPC protects you in the event that your brokerage loses your financial assets. It does not protect you from losses experienced from investing in the financial markets.

This makes Public just as safe as any other brokerage platform out there in terms of protection against the loss of your financial assets. 

However, keep in mind that cryptocurrency held within Public is not covered by SIPC or any government insurance program.

Beyond the SIPC factor, as far as the app security itself goes, they use AES 128-bit encryption as well as TLS 1.2 to ensure user data is secure at all times.

Don't forget to grab your free stock worth up to $200 from Robinhood today!

Article written by Logan Robison
Logan graduated with a degree in finance from Brigham Young University and currently works in merchandising for a large retailer. In his free time he loves to hike and camp with his wife and son. Logan is also heavily involved in real estate investing and owns properties in Utah and Arkansas.

Read more

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
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Get 1 Free Stock Worth Up To $200 From Robinhood!

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Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.

For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.

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