As a result of the rapid proliferation of these digital currencies, which have attracted popular and global attention, more institutional investors and corporations, such as Paypal, Square, and Tesla, have joined the crypto bandwagon. Many people who want to be a part of this financial revolution, however, are still unsure of how to buy or trade digital assets.
The good news is that purchasing or trading cryptocurrency is not difficult. However, you must first register with an online exchange or broker. Popular exchanges include Webull, Coinbase, and Binance.
Webull was created with the intention of trading stocks, ETFs, and options. Webull Crypto, on the other hand, was launched in 2020. Only four crypto-currencies are available for trading: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Webull gives real-time crypto data and statistics to its users. It comes with a built-in two-factor authentication function for added protection and security.
With a $1 minimum deposit, users can trade commission-free 24 hours a day, 7 days a week. However, it is impossible to transfer your bitcoins to other platforms without first selling or liquidating them.
Users can purchase fractional coins on Webull. This means you can buy a portion of a coin rather than the entire coin. Consider the case where Litecoin is trading for $35 and you only have $10. You can type in that amount and buy a fraction of the coin in that scenario.
Given how unpredictable crypto trading can be, this is ideal for newbies and traders who wish to diversify their portfolio and reduce risk.
How to Buy Crypto on Webull:
To buy crypto on Webull, follow these steps:
· Create a Webull account:
This is one method of purchasing cryptocurrency on Webull. If you are a beginner, you must first register a Webull account. Like most brokers, you must supply your personal information and, in most cases, your KYC, or know your customer or client information, as required by SEC regulations.
· Permissions Request:
It’s another step in the process of purchasing cryptocurrency on Webull. After you’ve created an account, you’ll need to request authorization to use the Webull app to buy or sell cryptocurrency. Make sure your Webull app is up to date before requesting authorisation. Then follow these steps:
Click on the Webull icon in the bottom row’s middle icon.Select the “More” option. Then, to ask for approval, click on “Crypto Trading.” You can trade at any time on the app once your request to buy and sell crypto has been approved because, unlike the stock market, there are no fees for crypto regulation.
· Make a deposit into your account:
There are a variety of options available to help you fund your account—we accept electronic bank transfers as well as wire transfers. Webull offers free electronic transactions, but they may take up to 5 days to settle and become accessible for use.
· Choose the cryptocurrencies you want to buy:
After you’ve funded your account, go to the “market” page and select crypto. A limit order or a market order will be used to make purchases. A market order is an order to buy cryptocurrency at the current market price at the time of the transaction.
· A restriction order:
When you buy cryptocurrency with a limit order, you can define the price you want to pay. Only when that price is reached does your order go into effect.
· Keep an eye on your cryptocurrency:
It’s another way to buy crypto on Webull, and it makes adding a coin to a watchlist a breeze. To do so, go to the currency’s profile and tap on the star icon. You can set up an alert to be notified when prices change. To begin the procedure, select “alarm.” You can look at a currency profile to get important statistics.
These include information such as trading volume, among other things. Using the drawing tools in the Webull app, you may observe the price action of cryptocurrencies. For analysis, the mobile app also shows two currencies at the same time. Given how unpredictable crypto trading can be, it’s ideal for newbies and traders who want to diversify their portfolios and limit risk.
Webull is a wonderful choice for beginners due to its user-friendly layout, which makes it easier to use than other online exchanges or brokers. Its $0 commission fee is also commendable, and it is one of the reasons why it is a good choice for most traders.
Webull has been promising bitcoin trading for quite some time, and it has finally delivered. Crypto trading is available on the Webull platform, and the broker’s pricing is unbeatable.
Expert crypto traders, on the other hand, may not enjoy the fact that trading is confined to only four crypto alternatives. Most importantly, webull currently does not allow you to transfer cryptocurrency away from the platform. This is because an ordinary trader places a high value on security, which is not guaranteed with an online platform.
As a result, the majority of these traders prefer exchanges that allow them to move their digital currency to a Trezor-like offline hardware wallet, which provides more protection. Webull, on the other hand, can count on a large number of devoted clients.