Can you buy Cryptocurrency on Webull?
Yes, it is possible to buy cryptocurrency on Webull. The platform offers trading options for several popular cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, Shiba Inu and 40 others. Users can purchase these digital assets using funds from their linked bank accounts or by trading in other securities held in their Webull account.
Is Webull Safe to Hold Crypto?
Webull is a regulated brokerage firm and implements measures to protect customer assets such as SSL encryption and multi-factor authentication. However, it is important to note that any platform that holds cryptocurrency on behalf of users carries a level of risk, as cryptocurrency is a relatively new and largely unregulated asset class.
It's important to use strong and unique passwords, enable two-factor authentication, and keep your device and software up-to-date, and only hold the amount of crypto assets on the platform that you are willing to lose.
Does Webull Charge Fees for Crypto?
Yes, Webull charges a spread of 100 basis points when trading cryptocurrencies which equates to a 1% fee.
Is Webull Good for Crypto Trading?
Webull is not a particularly good platform for crypto trading as it only offers 44 cryptocurrencies. A better alternative for investors in the USA is Uphold, which offers a much wider selection of 250 cryptocurrencies. Additionally, Uphold charges zero fees for trading, which can save investors a significant amount of money in the long run.
It is also regulated by FinCEN, which provides an added layer of security and peace of mind for investors. Furthermore, Uphold also provides cryptocurrency staking, which can help investors earn more returns on their investments.
The Bottom Line
The Webull platform offers a great range of services and features, but is not the best choice for cryptocurrency trading. The fees are much higher than other providers and it only offers 44 cryptocurrencies to choose from. Therefore, if you’re looking to trade in crypto assets we recommend Uphold which provides a larger range of coins with zero commission fees.