Webull, one of the most popular stock trading apps, just launched the ability to trade cryptocurrencies!
Learn more about this exciting new feature and how to start trading crypto with Webull!
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Webull Launches Crypto Trading On App
Crypto trading became a new a feature on Webull on February 2020. This gave users the ability to trade their favorite cryptocurrencies like Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), and Dogecoin (DOGE) alongside stocks, ETFs, and options – all in one place!
Since then, Webull has expanded its offerings to an additional 23 cryptocurrencies that you can buy and sell on its platform. As of February 2022, you can now trade the following crypto:
- Aave (AAVE)
- Algorand (ALGO)
- Avalanche (AVAX)
- Basic Attention Token (BAT)
- Bitcoin Cash (BCH)
- Chainlink (LINK)
- Cosmos (ATOM)
- Curve DAO Token (CRV)
- Dash (DASH)
- Decentraland (MANA)
- Fantom (FTM)
- The Graph (GRT)
- Loopring (LRC)
- Polygon (MATIC)
- Ren (REN)
- Stellar (XLM)
- Solana (SOL)
- Sushi (SUSHI)
- Terra (LUNA)
- Tezos (XTZ)
- Uniswap (UNI)
- USD Coin (USDC)
- Zcash (ZEC)
I was given the opportunity to try out crypto trading on the Webull app ahead of its public release and was impressed with how easy it was to not only find the information I need on my favorite crypto, but to be able to buy and sell with just a few phone taps.
How To Trade Cryptocurrencies On The Webull App
1) Apply For Crypto Trading Privilege
You need to request the ability to trade cryptocurrencies in order for it to show up in your Webull app.
To do so, make sure you update the app to version 6.31 or above. Once you have an updated version:
- Click on the Webull icon (bottom row, middle icon)
- Tap the ‘More‘ button
- Tap on the ‘Crypto Trading‘ to apply
Webull will approve you in short order and you’ll get a message on the home screen that your account has been approved for crypto trading:
2) Explore ‘Cryptos’ Tab View Under ‘Markets’
Now that you’re approved, head on over to the Markets icon (bottom row, second icon). You’ll see a new ‘Cryptos‘ tab at the top. Tap this and it will show you all the available cryptocurrencies and their current prices.
Click on the cryptocurrency you’re interested in to bring up the trading screen for that crypto:
3) Select Cryptocurrency To Trade
I selected Bitcoin below for this example. The trading screen gives you a more detailed view including 1-day, 5-day, 1-month, 3-month, 1-year, and 5-year price history. There are 8 other charts and 50+ indicators you can overlay on top of this if you’re into the technical aspects of trading.
To make a trade, simply press the ‘Trade’ button the bottom-left of the screen and enter the price and quantity you want to buy or sell.
And that’s really it – very easy.
Why Trade Cryptos on Webull?
$0 Commissions To Trade
Stocks, ETFs, Options, and Cryptos – all in one account.
Trade Cryptos 24/7
With a $1 minimum deposit.
Free Real-time Data
8 charts and 50+ indicators to help analyze the market
Highly Customizable Layout
Accessible on Mobile, Desktop, and Web Platforms
Hot Topics Amongst Webull Users
Interact with others in the Community tab
Timely Customer Service
The Help Center is open 24/7
Safe and Secure
Frequently Asked Questions (FAQs) Of Crypto Trading On Webull
How much does it cost to buy and sell cryptos?
Crypto trading on Webull means $0 commission with free real-time data.
Is Dogecoin available to buy on Webull?
Yes! As of April 20, 2021, Dogecoin is officially available on Webull! You can now buy and sell Dogecoin.
Other popular cryptocurrencies will also be added in the future.
What cryptocurrencies are available to buy on Webull?
You can buy 27 different cryptocurrencies now, including: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), and Dogecoin (DOGE).
What type of account do you need in order to trade cryptos?
You can apply to trade cryptocurrencies with your Webull cash or margin account. IRAs are not eligible for crypto trading.
When can you trade cryptos? What are the rules for trading cryptocurrencies?
- Trading Hours: You can trade cryptocurrencies 7 days a week except for a one-hour routine maintenance a day, which takes place between 5:30PM – 6:30PM ET.
- Order Limitations: You are allowed to place orders by dollars ($1 minimum), or by quantities (including fractional quantities) while purchasing cryptocurrencies. However, you can only sell cryptos via quantities.
- Order Type: You can trade cryptocurrencies with two order types: limit orders and market orders. GTC orders are not available.
- Time-in-force: Webull supports Day orders and IOC (Immediate-or-Cancel) orders for crypto trading. GTC (Good ‘Til Canceled) orders are not available.
Is crypto trading available in New York?
Crypto trading is not yet available in New York. Hat tip to ninja reader “kip” for pointing this out.
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The Bottom Line
I used to use Coinbase to trade crypto, but they charge a spread of 0.50% to buying and selling. For a $10,000 purchase, that’s $50 in fees. Now that Webull has the option for you to trade cryptocurrencies for $0 commission, it doesn’t make sense to use Coinbase anymore.
I’ve said this many times before, that at The Money Ninja, I won’t recommend something that I don’t personally use or believe in. As a happy customer of Webull, I’m excited they’re responding to customer demand and offering us the ability to trade cryptocurrencies at no cost.
Anyone else planning to use Webull for crypto trading? Why or why not?
13 thoughts on “Webull: Cryptocurrency Trading Now Available”
I purchased crypto on Webull without thoroughly researching it and am now “disappointed” that I can’t take “actual” ownership of it by transferring it to a cold storage device. I’m wondering how big of a concern this should actually be.
Webull charge 100 bps . If you do the math that like 1% they charge! Even worser than coinbase only charge .50%
How high will Bitcoin go???
Just joined webull and practicing with $100. I just attempted a purchase of $100 in Bitcoin . I got the message “Insufficient crypto buying power to place this order. “What’s that about? I thought we could buy as little as $1? Any advice?
When did you deposit the $100? Even if it shows up in your Webull account, it needs to “clear” the transfer completely before you’re allowed to trade with it.
Can you use webull to buy crypto in Nevada?
Webull does not allow you to trade cryptos if you live in NY.
Hi Kip – thanks for pointing that out. I updated the FAQ and gave you credit. I’m surprised New York hasn’t approved crypto trading yet!
How do you handle the $10000 limit that Webull places on transactions? It’s very annoying, especially in relation to Bitcoin.
Hi TaniO. I usually buy in $2,500 – $5,000 increments so it hasn’t affected me. Isn’t the $10,000 a per order limit? Can’t you place 2 orders for $10,000 each?
I prefer Webull also, but you mentioned that the Coinbase .5% fee of $10,000 would be $500…I think you actually meant $50.
You’re right, Erin! Good eye – I fixed it. Thanks for calling that out for me 🙂