How to Buy Crypto on Webull: Best Guide for Beginners

Published: 20th May, 2023 | Last Updated: 27th January, 2024

Markos Koemtzopoulos

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

If you’re wondering whether Webull has crypto you have come to the right place. In this guide, I will walk you through all you need to know about buying crypto on Webull. I will show you some simple instructions on what you need to do and how to go about it.

Let’s dive into it.

Does Webull Have Crypto?

Yes, Webull has been offering cryptocurrencies to its clients since November 2020. With over 36 cryptocurrency pairs to choose from Webull provides a wider selection than other brokers such as Robinhood.

Webull also makes a deal about offering fractional coins though any crypto exchange will do this for you. One of the core benefits of crypto is that you can buy a fraction of a coin rather than a whole one.

Webull offers cryptocurrency trading across all states. However, the only thing to keep in mind is that its product range is more limited in New York due to regulations. In New York, you can only trade 9 cryptocurrencies.

There is no minimum deposit to trade crypto on Webull.

About Webull

Webull is a fintech startup and online brokerage that offers trading in financial products with zero commissions. It first launched in 2017 as a mobile app and then later added a web-based version on its desktop trading platform.

Webull is based in the US and is especially popular with millennials and Gen-z and counts 13 million customers.

Webull Financial LLC is a registered broker-dealer with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). It is also a member of The New York Stock Exchange (NYSE), NASDAQ, and CBOE EDGX Exchange, Inc (CBOE EDGX). It is also a member of the securities investor protection corporation. This means that up to $500,000 of your funds are insured. This does not hold true for crypto assets, however.

On Webull you can trade stocks, exchange-traded funds, and other U.S. securities. They also offer options trading and of course digital currencies.

Webull founded Webull Crypto LLC in 2017. Webull Crypto LLC is owned by Apex Crypto LLC which is a part of a larger company that operates in the crypto and trading space.

Tell me more about Webull’s crypto trading

Trading crypto on Webull is pretty straightforward. You can set three types of orders when you buy or sell crypto on Webull

  • Market order: you buy at whatever the prevailing price in the market is
  • Limit order: your order only kicks if the price of the crypto coin reaches a price target that you set (the limit price)
  • Stop loss order: you sell when your price hits your stop loss target. This way you avoid losing all your funds if the price goes opposite to what you expect.

Webull cryptocurrency trading fees

Webull says it offers commission-free trading on its products which technically is true. However, that does not mean your trade is free. There is in fact a 1% markup (100 basis points) when you buy and sell crypto. This is high. Most cryptocurrency exchanges charge less than that with 0.2-0.4% being quite common in my experience.

Other fees you need to consider are withdrawal fees. When you sell your crypto and send it via a wire transfer to your bank account, Webull charges you $25.

You can also make electronic transfers.

There are three cryptocurrencies that Webull allows you to send to other crypto addresses: bitcoin, Litecoin, and Bitcoin Cash. Webull does not charge a withdrawal fee when you send these cryptos elsewhere. However, you still need to take into account that there will be a small fee that you pay to the blockchain network when you move your crypto. Usually, this will be quite low and less than a dollar.

Steps to buying crypto on Webull

To buy crypto on Webull follow these simple steps

Step 1: Open a webull account

To do this download the app and sign up with your details. You will have to take a picture of your license or some form of ID.

Webull’s account types

You will have the option to open either a brokerage account or an IRA account. You cannot trade crypto with an IRA account so make sure you open a brokerage account.

Webull asks you if you want to set up a margin account or a cash account. Margin accounts are way risker. A margin account means you borrow money from Webull to trade. I highly recommend you do not use this. Whenever I have traded on margin I have only lost money.

On the same page, you will see the option to trade cryptocurrency. Tick that box and continue.

set up crypto account webull

Step 2: Fund your account

When you open the Webull app you will see a prompt to fund the account. Click on that. Webull accepts two types of transfers

  • ACH transfers for those who are based in the US
  • Wire transfers for those outside the US. Other than the US Webull is available in India, Brazil, Turkey, the Philippines, Malaysia, Japan, China, and Korea.

If you are based in the US select the ACH option and log into your bank account.

select bank Webull

Next, enter the amount you want to deposit from whatever bank you just linked. The transfer usually takes one business day but can take up to four business days. Webull will usually credit your account with instant buying power up to $1,000. This is because it knows that the money will come through and wants you to start trading immediately. You can find out more about Webull crypto buying power here.

Step 3: Select the crypto you want to buy

To do this navigate to the markets tab and the bottom and select where it says crypto at the top. Select the cryptocurrency that you want to buy. If you don’t want to scroll you can also use the search icon and type the crypto you want. It will appear within the drop-down.

find crypto webull

Step 4: Select trade on the coin’s landing page

In the screenshot below I have selected Bitcoin. Next, click where it says trade

trade crypto webull

Step 5: Buy Crypto

Select whether you want to set a limit order or a market order.

If you select limit order it will prompt you to enter the limit price. This is the maximum price that you are willing to buy at. Your order won’t go through unless Bitcoin hits that price.

how to buy crypto webull

The simpler option is to go for a market order.

Next, input the amount you want to buy in USD.

Note the crypto buying power at the bottom tell you how much you have left to spend on this crypto.

Step 6: Confirm the purchase

Once you click on confirm your transaction will go through.

If you want to move your crypto elsewhere once you buy it on Webull see my article explaining how you can send crypto from Webull.

Two-factor authentication

At some point during your purchase journey, Webull may also ask you for two-factor authentication. If you don’t have this set up I highly recommend you do because it adds another extra layer of security.

To add two-factor authentication navigate to the play store if you have an Android or the App Store if you use an iPhone and download Google’s Authenticator app. Click on the plus sign to enter a setup key and save it as Webull (or whatever you will remember it by).

To find your setup key navigate to  Settings > Account & Security > Two Factor authentication.

Webull review

Overall the platform is especially popular with young investors. The sleek interface of their app and desktop platform makes it easy to use. Combined with zero-fees Webull you can understand why Webull has become a favorite of young millennial investors.

However, the lack of a wallet and limited range of cryptos are significant disadvantages in my mind. In terms of pricing, they are comparable to Coinbase which also charges a 1% fee. However, there are many crypto exchanges out there with much cheaper fees.

Also if you check Trust Pilot or Reddit you will see that there are many negative reviews about Webull’s customer service. Most people complain that they get directed to bots and can’t speak to a real person to resolve their issues.

Alternatives to Webull

While Webull is extremely popular the high markup on trading crypto and lack of a fully functioning wallet are good reasons to try something else.

A dedicated crypto exchange such as Kraken or Binance will allow you to trade a wider range of cryptocurrencies for a cheaper fee. You will also be able to move your crypto into a digital wallet or participate in the digital world of the crypto economy. If you don’t know much about crypto then study the articles on These will teach you all you need to know.

The benefit of using a broker is that you can continue to trade stocks, ETFs, and so on. If you still want to go with a broker the most popular ones for trading crypto are Etoro and Robinhood. Both offer wallets to their users with Robinhood offering a more robust one.

Useful Resources

What Is Webull Crypto Trading: a Comprehensive Review

What is Webull Crypto Trading

In this review, I will dive into the details of my experience with Webull Crypto Trading, examining its strengths and weaknesses, and provide my overall thoughts on the platform. Read more.

Will Webull Offer a Crypto Wallet? Get the Full Low Down

Will Webull Offer a Crypto Wallet

Webull is one of the most popular brokerages to trade cryptocurrencies on. Yet one of its major drawbacks is the fact that it does not offer a crypto wallet. This is annoying because it means that you cannot take custody of your crypto like you can with other brokerages such as Robinhood and eToro. However, Webull has announced that it does plan to offer a crypto wallet in the near future. In this article, I will share with you everything there is to know about Webull launching its own wallet. Read more.

Webull Crypto Withdrawal Guide: Step-by-step Instructions

Webull Crypto Withdrawal

If you’ve bought crypto on Webull then the next thing you are going to need is to find out how to withdraw it. Frustratingly there are is all sorts of misinformation out there on how to go about this. In this guide for crypto withdrawals on Webull, I will clarify your options. Read more.

Does Webull Allow Crypto Trading: What You Need to Know

Does webull allow crypto trading

In the rapidly changing world of trading and crypto, the ecosystem keeps changing. It is hard to keep up with how innovative platforms such as Webull are updating their product offering. In this article, I break down what Webull offers in terms of crypto trading and whether it is worth it. Read more.

Markos Koemtzopoulos is the founder and main writer of ElementalCrypto. He has been a lecturer at the University of Nicosia on cryptocurrencies and DeFi and has taught two courses on crypto and blockchain technology.

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