If your trying to find out if using Webull crypto trading is safe to use in 2023 you’ve landed in the right place. Webull up until recently was known for their free stock trading. However you can now trade cryptocurrency 24 hours a day 7 days a week. The fact that you can trade commission free is extremely enticing. Not many crypto apps can say the same except of course for Robinhood. It is also a really good time to get into the crypto space. With digitalization driving the use of technology, most people are now becoming aware of this new kind of digital asset. This is where Webull comes in.
Who is Webull
Also known as Webull Financial LLC, with headquarters at 44 Wall Street, New York City, this company is a US-based broker-dealer. They are registered with the Securities and Exchange Commission (SEC) and a member of various financial authorities, including:
- Financial Industry Regulatory Authority (FINRA)
- Securities Investor Protection Corporation (SIPC)
- New York Stock Exchange (NYSE)
Webull gives its users the ability to trade stocks, options, exchange-traded funds (ETFs), American depository receipts (ADR), and major cryptocurrencies.
Benefits to Investing In Crypto On Webull
Investing in cryptocurrency on Webull is easy. The platform is known for its smooth interface on its mobile app as well. Additionally, a desktop app is available and it works similar to the web version, but you can customize its layout using the drag and drop function.
But why should you choose Webull if you are planning to invest in cryptocurrencies? Here are just some of the benefits:
- Ability to buy or sell popular cryptocurrencies at a $1 minimum
- No charge for trading cryptocurrencies
- Make use of the platform’s complementary real-time data, customizable charts, and indicators
- Make a trade with instant settlement
- Webull is open twenty-four hours, seven days a week
- Access on mobile, desktop, or web browser
- It is safe and secure
Is Buying Crypto Safe On Webull?
So is Webull safe for trading crypto? Webull is absolutely safe with its two-factor authentication to give users a double layer of protection. They also have up-to-date and the latest data security to protect their investors’ information and asset data.
It is also worth noting that they are legally registered with the Securities and Exchange Commission (SEC) and a member of FINRA (a nongovernmental organization that writes and enforces rules governing brokers and broker-dealer firms in the US).
Does Webull Insure its Users?
Webull is a member of the Securities Investor Protection Corporation (SIPC), which is a non-profit organization that has been protecting investors for more than 50 years. Because of this, Webull insures its investors for up to $500,000, including $250,000 for claims for cash.
Apex Clearing Corp, which is the platform’s clearing firm, also purchased an additional policy that provides protection for securities and cashes up to an aggregate of $150 million. It is subject to maximum limits of $37.5 million for any one customer’s securities and $900,000 for any customer’s cash.
Coins Available on Webull
Currently, Webull supports four major cryptocurrencies:
Bitcoin (BTC): Bitcoin was invented in 2008 by an unknown person or a group of people with a pseudonym, Satoshi Nakamoto. It is the very first digital currency that uses blockchain – a public distributed ledger. With a maximum supply limit of 821,000,000, this limit creates demand, thus making the digital coins valuable and high-priced.
Bitcoin Cash (BCH): Bitcoin Cash is a *fork from Bitcoin. It happened in 2017 when BTC was lagging because of the increased amount of transactions. This leads the community to fork the father of cryptocurrency to create faster transactions committed to a medium of exchange function.
Ethereum (ETH): Ethereum is a decentralized open-source blockchain with a native cryptocurrency called Ether. It features a smart contract functionality that is very popular to run decentralized applications, finance, and many initial coin offerings.
Litecoin (LTC): Litecoin is a source code for the Bitcoin Core. It is known as a nearly identical Bitcoin. Although almost similar, transactions using LTC are faster than the grandad of all tokens. It aims to process a block every two and a half minutes versus BTC’s ten minutes.
And Many More
Charts / Graphs for Cryptos
There are various graphs and charts available for cryptocurrencies. It will all depend on your trading style and preference.
- Heikin Ashi
- Base Line
- Hollow Candle
Bonus for Signing Up
Not only is Webull safe for trading crypto in but they have a super generous sign up bonus. They are giving away 4 free stocks with a value of up to $3700. You can claim that bonus code by clicking here.
So is Webull safe for trading crypto trading ? With its location at Wall Street, New York, and the fact that it is a registered broker-dealer at Securities and Exchange Commission (SEC), ensures its investors’ transactions are protected. The platform is also a member of SIPC, meaning your assets are insured up to $500,000.
To wrap up, Webull is a legitimate and safe platform to use, whether daytime trading, swing trading, or even position trading. You can get started by clicking here.