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Austrian cryptocurrency exchange and financial services platform Bitpanda has enabled a new service for its users to buy Wall Street corporate stocks and exchange-traded funds (ETFs). Bitpanda Stocks Beta is now available to start trading with investments from 1 dollar.

The service is available 24 hours and seven days a week, that is, a trader can buy or sell shares even when the stock markets are closed. In fact, a person does not necessarily have to buy a complete share of a certain company, but it is also possible to acquire a fraction of it.

This is possible since it is financial instruments that replicate the behavior of the underlying stock or ETF . By investing, the user establishes a derivative contract that regulates all the rights and obligations between Bitpanda, the operators and the investments they make, the company explained through a statement released this Wednesday, April 21.

«All derivative contracts always have the same value as the corresponding share or ETF. Bitpanda owns the underlying stocks and ETFs available on our investment platform. All the shares and ETFs are kept in our custody bank ”, the company indicated on how the service works.

Bitpanda highlighted that the platform does not charge commissions for the operations carried out by its users . Instead, it uses a margin or spread when positions are open or closed. That spread is what generates revenue for the bitcoin exchange. Among the most popular stocks that can be acquired are those of Apple, Amazon, Tesla, Visa, Coca-Cola, Netflix or Nike, for example.

Bitpanda App to start investing

To start investing, the person should only download the app in your mobile device with Android or iOS operating system. Subsequently, you must follow the instructions of the system and make a first deposit of at least 25 euros.

The catalog of companies in which users have the option to invest will be continuously expanded. It is not limited to companies listed on the Wall Street markets in the United States, but « Bitpanda Stocks Beta allows you to invest in your favorite companies from all over the world. world, “the exchange said.

If the operator wishes, there is also the possibility to create savings plans to make investments at regular intervals . There is also the option of requesting a debit card that is backed by the funds that the user has on the platform.

One aspect to take into account is that Bitpanda Stocks Beta is available on Bitpanda’s platform and not on Bitpanda Pro, the suite for professional trading. In addition, only European residents can invest, except those of Turkey.

Last week Bitpanda became a unicorn company with a valuation of 1.2 billion dollars after raising, in an investment round, more than 170 million dollars, as reported by CriptoNoticias.

A product similar to Bitpanda, but for now oriented only to Tesla shares, was launched last week by the exchange Binance. The exchange house launched tradable share tokens that serve for users to trade fractioned stock shares.

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