Webull has emerged as a popular trading platform for both securities and cryptocurrencies, often dubbed the "Chinese Robinhood." Founded in 2017 by Wang Anquan, a former Alibaba finance director, Webull combines mobile-first investing with commission-free trading. But is it the right platform for your crypto needs? Let’s dive in.
What Is Webull?
Webull is a commission-free trading platform that caters to both beginner and seasoned traders. Its intuitive mobile app, launched in 2018, simplifies the trading process with an easy-to-navigate interface, advanced charting tools, and real-time market data. Unlike Robinhood, Webull offers deeper analytics, making it a versatile choice for diverse trading strategies.
Key Features:
- Mobile-first design with a streamlined signup process.
- Advanced tools for technical analysis (e.g., overlays, drawing tools).
- Community feed for social engagement among traders.
- Support for stocks, ETFs, options, and cryptocurrencies.
Is Webull Safe for Crypto Trading?
Safety is paramount when choosing a crypto platform. Webull is regulated by:
- SEC (Securities and Exchange Commission)
- FINRA (Financial Industry Regulatory Authority)
- SIPC (Securities Investor Protection Corporation): Protects up to $500,000 (including $250,000 cash limit).
Note: Crypto assets on Webull are custodied by Apex Crypto LLC, which is not SIPC/FDIC-insured. Users cannot transfer crypto off the platform or access private keys.
How to Buy Crypto on Webull
Follow these steps to purchase cryptocurrencies like Bitcoin, Ethereum, or Dogecoin:
- Deposit Funds: Transfer fiat currency from your bank account to Webull (becomes "brokerage cash").
- Search for Crypto: Use the search bar to find available cryptocurrencies (e.g., BTC, DOGE).
- Place Order: Enter the fiat amount you wish to spend and review the trade details.
- Confirm Trade: Submit your order to complete the purchase.
Limitation: Crypto trading is unavailable in certain U.S. states and countries.
👉 Explore Webull’s crypto offerings
Webull vs. Other Crypto Platforms
| Platform | Crypto Offerings | Fees | Key Features |
|---|---|---|---|
| Webull | 8 cryptos | Commission-free | Stocks + crypto integration |
| Coinbase | 50+ cryptos | 1.49%–3.99% | Staking, wallet transfers |
| Binance | 350+ cryptos | 0.1% spot fee | Margin trading, futures, P2P |
| Kraken | 50+ cryptos | 0.16%–0.26% | Advanced charting, 24/7 support |
| Gemini | 45+ cryptos | 0.5%–1.49% | Interest-earning, credit card |
Pros and Cons of Using Webull for Crypto
Pros:
- Zero trading commissions.
- User-friendly mobile app.
- Integrated stock and crypto trading.
Cons:
- Limited crypto selection (8 coins).
- No wallet transfers or private keys.
- No staking or interest-earning options.
FAQs About Buying Crypto on Webull
1. Can I transfer my crypto out of Webull?
No. Webull currently doesn’t support external wallet transfers. You can only trade crypto within the platform.
2. Does Webull charge fees for crypto trades?
Webull offers commission-free crypto trading, but spread margins may apply.
3. Is Webull available worldwide?
Webull supports the U.S., India, South Korea, and other crypto-friendly regions. Check local regulations for availability.
4. How do I sell crypto on Webull?
Navigate to your crypto holdings, select "Sell," and choose the amount to convert back to fiat.
5. What cryptocurrencies does Webull support?
Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Stellar Lumens (XLM), Zcash (ZEC), and Ethereum Classic (ETC).
Final Verdict: Is Webull Right for You?
Webull excels as a low-cost, all-in-one trading platform for stocks and casual crypto trading. However, if you seek:
- Crypto self-custody (e.g., private keys),
- Staking rewards,
- A broader selection of altcoins,
consider dedicated crypto exchanges like Coinbase or Binance.
👉 Compare Webull with other platforms
Remember: Crypto investments are volatile. Always research and diversify your portfolio. For more guides, visit our Academy.