Webull is a well-known brokerage firm that offers bitcoin trading, among other services. The commission-free trading function, which allows consumers to save money in the process, is a major selling point.
Webull may be the appropriate platform for you if you’re wanting to diversify your portfolio through crypto trading or if you’re simply looking for a means to acquire some cryptocurrency.
This post goes into detail on how to buy crypto on Webull, but the short version is that you must open an account, obtain crypto trading permission, deposit funds, and make a transaction.
Can You Buy Crypto on Webull?
Cryptocurrencies have gained a great deal of popularity throughout the years. As a result, numerous coins were created, with Bitcoin, Ethereum, Litecoin, Dogecoin, Binance Coin, and Tether being among the most prominent.
Bitcoin was created in 2009, making it the world’s first cryptocurrency. It has a total market value of $1.2 trillion and is still the most popular cryptocurrency. There are now thousands of cryptocurrencies exchanged globally.
Webull, like a number of other platforms, was developed for this purpose because it seemed logical that people required more platforms to purchase and sell cryptocurrencies. Initially, Webull was designed for ETFs, stock, and options trading; however, as crypto’s popularity grew, they decided to offer Crypto in 2020.
Therefore, you may now utilize Webull Crypto to buy, sell, and trade various cryptocurrencies online. The sole disadvantage is that only four cryptocurrencies are available, namely Bitcoin, Bitcoin Cash, Litecoin, and Ethereum.
What Cryptocurrencies Are Available For Trading?
Coins available for trading:
Bitcoin (BTCUSD), Bitcoin Cash (BCHUSD), Ethereum (ETHUSD), Litecoin (LTCUSD), Dogecoin (DOGEUSD), Zcash (ZEC USD),Stella Lumens (XLMUSD),Ethereum Classic (ETCUSD),Cardano (ADAUSD), Dash (DASHUSD), Shiba Inu (SHIBUSD), Basic Attention Token (BATUSD), Chainlink (LINKUSD), Uniswap Protocol Token (UNIUSD), Algorand (ALGOUSD), Polygon (MATICUSD), Sushi (SUSHIUSD), Avalanche (AVAXUSD), Terra (LUNAUSD), REN (RENUSD), Solana (SOLUSD), Cosmos(ATOMUSD), Decentraland(MANAUSD), Fantom (FTMUSD), The Graph (GRTUSD), CurveDAO Token (CRVUSD), Loopring (LRCUSD), Tezos(XTZUSD), USD Coin (USDCUSD), Aave (AAVEUSD), Crypto.com Coin (CROUSD), Harmony (ONE USD), yearn.finance (YFIUSD), Apecoin (APEUSD), Chiliz (CHZUSD), Synthetix(SNXUSD), Gala (GALAUSD), BNTUSD(BNTUSD), COMPUSD (COMPUSD), ENJUSD (ENJUSD), Maker (MKRUSD), Amp (AMPUSD), FILUSD (FILUSD), ICPUSD (ICPUSD) through Apex Crypto. Access to more cryptocurrencies is in the works.
How to Buy Crypto on Webull?
If you want to know how to buy cryptocurrency on Webull, please follow these steps:
Open an Account
First and foremost, you must ensure that you have a Webull account. If you do not have an account and are a new user, you must create one. In order to accomplish it, you must supply certain personal information. Typically, you will also be required to provide your KYC (know your customer/client) details.
Request Crypto Trading Permission
When your account is ready for usage, you must request authorization to purchase and trade cryptocurrencies in your Webull application. The application must be updated to the most recent version if acceptance is to be guaranteed. You must complete the following to request permission:
- Simply click the Webull icon. It appears in the bottom row as the middle icon.
- Select “More”
- Request authorization by clicking “Crypto Trading.”
When your requests to purchase and sell cryptocurrencies are accepted, you can begin trading. The wonderful part about the Webull app is that you can trade at any moment. Unlike the stock market, there is no commission for crypto regulation.
Deposit Money
To begin trading, you must buy cryptocurrency. This requires you to fund your account. You have numerous options accessible to accomplish the goal. Either an electronic transfer or a wire transfer is possible. Webull allows for free electronic transfers, which is fantastic. In addition, you will have to wait up to five days for the deposit to settle and become usable. You must enter your routing number and bank account number in order to conduct an electronic transfer.
You may also choose to make a wire transfer if you prefer not to wait. Funds are settled within one business day, allowing you to commence trading immediately. However, both Webull and your bank will impose fees for the wire transfer.
Choose the Cryptos You Wish to Buy
When your account is funded, you can choose which cryptocurrencies to purchase. Under the “market” tab, select cryptocurrency. Then, you can execute a limit or market order.
Limit orders allow you to indicate the maximum price you’re willing to pay for an item. When the specified price is achieved, the order is executed. In contrast, market orders enable instantaneous cryptocurrency purchases at the current market price.
You cannot transfer your cryptocurrency holdings through Webull. However, you can move them to a hardware wallet for secure safekeeping. It is not suggested to store all of your crypto assets on Webull, as there is always the risk of being hacked.
Keep an Eye on Your Cryptos
You can establish a price change alert or add a cryptocurrency to a watchlist. Simply navigate to the currency’s profile and tap on the star icon. Then, select “alarm.” In addition to the currency profile, you can also examine the currency profile to have access to vital statistics.
If you’re looking to get on the cryptocurrency bandwagon, you should take the time to learn more about the best crypto interest rates in 2022.