Webull, a long-time financial research firm, has just recently announced their move to penetrate the cryptocurrency arena. With their platform offering, they hope to find a market that would love the idea of a no commission arrangement. With its service offered, can you buy crypto on Webull? Yes! And not only that, it offers a great deal out of it too.
Find out here what this company’s recent venture is all about. Read to know how to buy crypt on Webull.
What is Webull
Webull is a Securities and Exchange Commission (SEC) registered stock brokerage firm offering stock trades on both mobile and desktop platform which offers a zero commission stock trades and account fees. They are Robinhood’s biggest competitor catering to millennial users.
Starting as a research firm, it just recently branched out and officially entered the brokage industry. Their reputation on research and analytics is their biggest edge against Robinhood. Robinhood is infamous to have these characteristics as their weakest aspects. Along with this recent change, can you buy crypto on Webull?
As a matter of fact, yes. Webull made a formal announcement regarding the latest addition to the services they offer, cryptocurrency trading. They are utilizing a subsidiary for this called the Webull Crypto. It allows for the depth expansion of assets available on their platform. Now, the list of assets available even go beyond listed US stocks, ETF, and options.
Webull is also a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC).
Advantages of Using Webull
We already gave the answer to can you buy crypto on Webull. But with the existence of other exchange platforms, what makes them interesting enough for you to choose them? What is there to love about Webull?
Webull is known to be well accommodating to part-time traders with less than 100 USD as capital. There is no need to pay account or software fees as well. It is perfect for beginners who want to enjoy zero commissions and explore in an advanced platform that will let them learn the tricks of the trade while playing small ball.
Webull also caters to swing traders. Due to the nature of their trade, they are not necessarily be aiming for a flawless trade, rather, they are looking to execute a large market move instead of small daily increments. They are also more simplistic to their analysis. All they need most of the time are good chart visualizations in platforms and screener.
As if the above deals are not good enough, it also offers margin without a subscription. To give you a contrast, Robinhood requires subscriptions through their Gold membership option.
Short selling is also allowed here. In fact, you can buy or sell fractions of crypto at a $1 minimum. This comes with instant settlement, so you receive the funds real-time.
Webull also watches out for your security. The app has a complimentary real-time crypto data and two-factor authentication that users must set-up before making any transaction.
To be clear, can you trade crypto on Webull? Crypto trading is available for Webull brokerage account holders, 24/7, 365 days a year. It just recently been made accessible through the mobile app. Desktop accessibility is coming soon.
How to Buy Crypto on Webull
To know for yourself can you buy crypto on Webull, why don’t you try it out. Here are the steps how:
- Browse the platform interface and go to Markets. Here you can see the latest market data depending on your country.
- Notice the tabs and click Cryptos. This tab has a list of all the cryptocurrencies that you handle using Webull. Scroll over your desired coin and click it.
- Alternatively, if you cannot see the Cryptos tab, you can type the crypt coin you are interested in buying in the search tab. You can use its full name or abbreviation. Example: You can type in “Bitcoin” or just BTC to search for it. From here on, we will use Bitcoin as an example.
- In the Bitcoin page, you can see the value of a single BTC coin. It will also show its fluctuations in the past days. To proceed with buying it, look for the Trade button in the lower left corner and click it.
- The Trade page will display your current buying power. Same number also appears in your home page. From here on, you must decide on the type of order that you want. You can choose between a limit order or a market order. Here is the difference:
- Limit order – You can control the price that you are buying at. For example, you have a price ceiling of 17,500 USD. You can set this on the app along with the amount of bitcoin you wish to purchase, and it will then show you the list of available offers abiding to our numbers.
- Market order – In this kind of purchase, you are setting your price offer at current BTC market value. You can then input the amount of BTC that you want to buy in. You will be allowed to purchase only within your buying power.
- Once you are all set, click buy and confirm your order.
Your order has now been created. Your portfolio will then be updated in lieu of the purchase you just made. Learn more about cryptocurrency buying here!
Whether you like it or not, the business landscape will always undergo new changes. With new players penetrating from one field to another, consumers will always be looking for the best offer that they can get to suit their needs. Webull’s move has been commendable as it enters the hot community of cryptocurrency with such competitive services.
To recap, can you buy crypto on Webull? Yes. Its services come with zero commission and zero account fees. It allows a capital of only 100 USD and facilitates buy and sell of crypto in fractions of 1 USD. Indeed, they are an ideal platform for beginners and intermediate traders who are just starting to sharpen their knowledge and deepening their know-how in the crypto business.