Getting into the cryptocurrency game now would be a smart move. We all know digital money is the future and you don’t want to miss out. For those looking for any info on Webull Crypto fee’s for 2022 we have that and much more. Webull is an amazing platform for trading stocks, but has recently added crypto to its trading options. You can access your account 24 hours a day 7 days a week via their mobile app or on desktop.
Who is Webull
Webull is an online trading platform where users can trade stocks and other securities with headquarters located at 44 Wall Street, New York, USA. Webull recently announced the addition of cryptocurrency trading to the range of services provided on the platform.
Another interesting feature of the platform is that it allows users to trade fractions of cryptocurrencies worth at least $1 and guarantees instant settlement of funds; considering the risks involved this is a great option, especially for newbies. The app guarantees complimentary real-time crypto data and enables two-factor authentication which ensures account security round the clock.
Webull is also a brokerage dealer you should consider trading on because they are registered with all the necessary authorities including the Securities and Exchange Commission (SEC), the Financial Industry Regulation Authority (FINRA), and the Securities Investor Protection Corporation(SIPC). So you can rest assured that your coins are safe with them.
Benefits of Trading Crypto on Webull
Simplicity and Ease of Use
Both the mobile Webull app and desktop versions have a simple interface that is easy to use for beginners and experts alike; this makes it easier to use the data and tools that have been made available to the user’s advantage.
Webull’s 24/7 services also extend to customer services. Webull boasts of seasoned and trained personnel available round the clock online and over the phone to attend to all customer’s questions and inquiries.
Mobile and Web Access
Although crypto trading on Webull is only available on their mobile app at the moment, it will soon be available on web so users can trade from practically all device. When the desktop version becomes available, users will be able to trade, analyze trends, predict market information more efficiently using about 50 different widgets.
Fees for Buying Crypto on Webull
- Webull allows users to trade a wide range of options ranging from stocks, ETFs, and retirement accounts for extended hours. Users also have access to a stock simulator.
- Trading on Webull is free of commissions, however, users will have to pay the spread fee as well as the SEC transaction cost. Financial transactions can be made from your account at no cost using ACH but domestic wire transfers are not free.
- The fees for completing international wire transfers are $12.50 and $45, respectively. Margin rates moves up at 6.99 percent for as much as $2500
Does Webull Insure its Users?
Webull is a registered member of the Securities Investor Protection Corporation(SIPC), the SIPC protects as much as $500,000 of its members securities and $250,000 of cash.
Webull has also purchased an additional insurance policy from its clearing firm; Apex Clearing. The insurance policy protects up to $150 million securities and cash. The maximum limit of protected securities for a single customer is $37.5 million while maximum cash is $900,000.
Just like the SIPC, this additional insurance does not protect against a loss in the market value of securities.
Coins Available on Webull
Presently, there are four coins (cryptocurrencies) available on Webull; Bitcoin(BTC), Bitcoin Cash(BCH), Ethereum(ETH), and Litecoin (LTC). Although there are talks of including more cryptocurrencies in the future, these four are the only cryptocurrencies available on Webull at the moment.
Bonus for Signing up
Users get free stocks like GOOG, SBUX, FB, and lots more as sign up bonuses. Here’s how it works: Users get 2 free stocks when they open a brokerage account. When a user finds their brokerage account with a minimum of $100 they get 2 more free stocks. You can claim this free bonus by clicking here.
Stock allocation is completely random and given out via a lottery system. Webull does not get to pick which stock goes to which user and users also cannot pick any stock they please.
Best Alternative to Webull?
Robinhood is another online trading platform that offers various financial services quite similar to Webull. Robinhood also charges no commission on stocks and other securities trade. Users can also trade fractional coins which will help boost their portfolio. However, trading tools are Robinhood’s biggest downside, compared with other brokerage dealers Robinhood has minimal trading tools.
The good news about using Webull Crypto is that their are no fees. They also give you the opportunity to invest in 4 of the most popular crypto coins by market cap. I also imagine they will add more coins as time goes on. For now I would recommend Webull to just about anyone who wants to get into investing. You can grab your free stock by clicking here!