How to buy crypto on Webull?
Webull is a brokerage firm that, among other things, offers cryptocurrency trading. The feature that users appreciate the most is commission-free trading, which allows them to save money in the process. Webull may be the right platform for you if you want to diversify your portfolio by trading the cryptocurrency or if you just want to collect some cryptocurrency.
In this article, we will explain in detail how to buy crypto on Webull. But the short version is that you must open an account, request crypto trading permission, deposit funds, and then make a purchase.
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Things You Should Know About Cryptocurrency on Webull
- Cryptocurrencies have gained popularity. Bitcoin, Ethereum, Litecoin, Dogecoin, Binance Coin, and Tether are the most popular cryptocurrencies.
- Bitcoin was the first cryptocurrency, founded in 2009. It’s the most popular cryptocurrency with a $1.2 trillion market value. Global trade now includes thousands of cryptocurrencies.
- Webull and others were created to help people buy and sell cryptocurrencies. Due to the rapid growth of cryptocurrency, Webull launched Crypto in 2020.
- You can buy, sell, and trade cryptocurrencies online using Webull Crypto. Only Bitcoin, Bitcoin Cash, Litecoin, and Ethereum are available.
- Webull provides real-time crypto data and statistics, so you always have the latest on your favorite coins. The platform has 2-factor authentication and other security features.
- You can trade cryptocurrencies in crypto exchange 24/7, commission-free. Only $1 is required. Webull lets you buy cryptocurrency, but you can’t transfer your crypto. You must sell your crypto assets.
- Webull is also unique. You can buy fractional coins instead of whole ones. If Ethereum is $40 and you have $15, you can buy a fraction of it.
- It’s a big plus if you’re new to cryptocurrencies and want to trade or diversify. It helps manage risk, which is important given cryptocurrency’s volatility. Webull is a good place to buy cryptocurrency.
How to Buy Crypto on Webull
If you want to learn how to buy cryptocurrency on Webull, follow these steps:
1. Create an Account
First and foremost, you must ensure that you have a Webull account. If you don’t and are a new user, you must create an account. You must provide certain information about yourself in order to do so. Typically, you will also be required to enter your KYC (know your customer/client) information.
2. Obtain Crypto Trading Permission
When your account is ready to use, you must request permission to buy and trade cryptocurrency in your Webull application. If you want to ensure approval, you must update the app to the most recent version. To request permission, you must do the following:
- Select the Webull icon. You can find it as the middle icon in the bottom row.
- Select “More.”
- Then, click “Crypto Trading” to request permission.
You can begin trading once your buy and sell crypto request is accepted. The cool thing about the Webull app is that you can trade at any time. In addition, unlike the stock market, there is no commission for crypto regulation.
3. Make a Deposit
To start trading, you must first purchase cryptocurrency. To do so, follow the steps below.
- You must first fund your account. You have several options that allow you to do it.
- You have the option of doing an electronic transfer or a wire transfer. What’s even better is that Webull offers free electronic transfers.
- At the same time, you will have to wait up to 5 days for the deposit to settle and become available for use.
- To make an electronic transfer, you must enter your routing number and bank account number.
If you don’t want to wait so long, you can make a wire transfer. Funds are settled within one business day, allowing you to begin trading sooner. The wire transfer, on the other hand, will incur charges from both Webull and your bank.
4. Select the Crypto You Want to Buy
When your account is funded, you can choose which cryptos to purchase.
- Tap on crypto under the “market” tab.
- You can then place a limit or market order.
- Limit orders allow you to specify how much you want to pay for the item.
- The order is executed when that price is reached.
Market orders, on the other hand, allow you to buy cryptocurrency instantly and at the current market price.
Webull does not allow you to transfer your crypto assets, but you can send them to a wallet for safekeeping. Keeping all of your crypto assets on Webull as a crypto wallet is not advised because there is always the risk of being hacked.
5. Keep an Eye on Your Crypto
You can set a price change alert or add cryptocurrency to a watchlist.
- Simply navigate to the currency’s profile and tap the star icon. Then, tap “alert.”
- You can also look at the currency profile to get key stats.
Tips
- It is not difficult to buy cryptocurrency on Webull, but you must follow all of the necessary steps.
- When you deposit funds into your Webull account, you will be able to purchase the cryptocurrency of your choice.
- When you have the funds, you can begin trading cryptocurrency.
- If you are new to Webull, make sure to follow the instructions here so that your crypto purchase on Webull goes smoothly and you get the cryptocurrency!
