Yes, your’re in luck, Webull does trade Shiba Inu!
Webull is a registered broker-dealer that deals in various financial products. In addition to traditional digital assets, it also lists several crypto assets. Unlike a typical cryptocurrency exchange platform, its cryptocurrency trading is limited to just a few cryptos including Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), USD Coin (USDC), Dogecoin (DOGE) and Shiba Inu (SHIB).
Unsurprisingly, Webull trades in Shiba Inu, leaving out dozens of better-performing cryptocurrencies on the market today.
Why Shiba Inu?
Like its sibling, the Dogecoin, Shiba Inu has a fanatical craze behind it. This dog-themed cryptocurrency is hosted on the Ethereum blockchain making it have the benefits of this blockchain including smart contracts – which DOGE lacks. It is also very affordable thus not requiring the need to fraction it to make it affordable, unlike BTC and ETH.
Thus, SHIB can be used to execute small transactions on the Webull trading platform – a platform that makes it easy for you to invest as little as $1 worth of cryptos.
SHIB was created with three primary objectives: lower gas fees, promote staking, and make it easy to roll out Web3 decentralized applications (Web3 dApps).
What you can do with Shiba Inu on Webull
While there are fewer use cases for SHIB on Webull than on typical crypto exchanges, SHIB can make it easier for you to swap small transactions using the Webull Pay app.
What makes Webull an ideal place for Shiba Inu?
Despite Webull not being a fully-fledged crypto exchange platform, it provides a unique niche – a blend of traditional and modern financial products.
Thus, you can transfer your SHIB to Webull to invest in conventional stocks and securities. Alternatively, you can convert your conventional stocks on Webull into SHIB to trade them on a fully-fledged cryptocurrency exchange platform. Thus, SHIB provides this easy convertibility.
Let’s explore the features, products, and benefits of trading and investing on the Webull platform:
1. Expansive features
Webull has lots of features. We can only cover a few. Some of the features that make Webull the best place for your SHIBs include:
(a) Shiba Inu community interaction
Shiba Inu is about community. On the Webull platform, you can interact with active traders and other Webull users through the Webull chat app.
(b) Instant settlement on SHIB cryptos
SHIB was designed to facilitate quick settlement of transactions. Webull allows instant settlement of cryptos.
(c) Powerful SHIB trading tools
Being able to reap maximum profit from SHIB trading is every trader’s dream. Webull provides powerful tools for Shiba Inu lovers to get the best out of their trading opportunities. These tools include advanced charting tools and stock screeners, among others.
(d) Incisive SHIB analytics
Analytics is what drives sound trading and investment decisions. With more than 8 custom charts and over 50 technical indicators drawn from historical data and real-time market data, SHIB crypto traders can establish a fair market value of securities they are interested in. They can also be able to predict future trends in their respective markets and investments and thus anticipate future results of their decisions.
(e) Enhanced SHIB account security
To protect your SHIB crypto assets from being violated, Webull provides robust security measures, including two-factor authentication.
(f) Multiplatform SHIB accessibility
You can access your SHIB assets and other cryptos from Webull Pay on Android and iOS mobile devices.
On the other hand, the Webull App allows you to access traditional financial products such as stocks, mutual funds, ETFs, etc., on both Android and OS mobile platforms.
From the Webull Financial LLC website, you can access lots of website products – both crypto products and fiat products.
(g) Around-the-clock SHIB availability
Apart from the normal routine maintenance time which runs from 5:30 pm to 6:30, all other times are account access times. Thus, you have all the time to trade your SHIB from both the mobile app and the web app.
(h) Multiple trading platforms
Webull Financial LLC website allows you access to both the traditional finance platform and the new cryptocurrency trading platform. While the two platforms are now segregated, you can access them from a single place.
(i) Multiple account types
Webull platform boasts the following major account types:
- Individual Cash Account – this is an ordinary trading account for cash transactions.
- Margin brokerage accounts – these are accounts used for margin trading.
- Webull Advisory account – advisory accounts allow Webull experts from Webull Advisors LLC to render financial advisory services to you as their client. Webull complies with the Investment Advisors Act of the United States.
- Individual Retirement Account (IRA) – With a Social Security Number (SSN), you can open this account and immediately start investing for your retirement.
(j) User-friendly platform
Webull provides a user-friendly platform that is easy to navigate and access the expansive features and benefits.
2. Tons of benefits
Plenty of benefits await SHIB loyalists and fans on Webull. The following are some of the major benefits:
(a) Free stocks
Opening a trading account on Webull entitles you to free stocks. You can hardly get such a great opportunity on other trading platforms. The number of free stocks on eligible accounts varies depending on the promotional offer available at the time of opening the account.
(b) Free trading of stocks
You don’t get to pay anything to Webull to engage in stock trading. Webull provides free trading of stocks. With no exchange fees, you get to reap all your profits.
(c) Free options trading
Options investors on Webull don’t pay any fee for their trading options. If you are a new Webull customer, this is the time to make an Options trading application. Options trades on Webull could be the game changer you are looking for to revamp your investment portfolio.
(d) Low minimum deposit
A $1 minimum deposit is enough for you to start running your cash trading account.
(e) Zero exchange commission
Webull provides commission-free trading. Simply open the cash trading account and start trading. The exchange commission is absolutely zero.
(f) Free trading accounts
Webull charges no minimum account fee to maintain a trading account. Thus, you can invest all your money in assets.
(g) Investment opportunities
You can convert your SHIB to other Webull investments. SHIB crypto investors are interested in long-term gains from the appreciation in the value of their investment. They want their original investment to grow multiple times.
Webull understands this and thus provides solid investment products for SHIB holders to meet their investment objectives. These include:
- Index ETFs
- Recurring investments
Webull also provides fractional investment opportunities whereby you can buy just a fraction of a given investment. These include:
- Fractional shares and ETFs – Thinking that your few SHIBs aren’t enough to invest in stocks? Well, SHIBs worth $1 are enough for you to own stocks and ETFs. Simply convert your SHIBs worth $1 into USD and you can own a fraction of that lucrative stock or ETF that you desire.
- Fractional coins – If you are not interested in buying fractional shares and ETFs, you still can buy a fraction of those lucrative coins – bitcoin and Ethers.
(h) Easy start for new investors
The following features make it easy for new investors to enjoy the benefits of Webull:
- Zero commission and zero account minimums remove barriers to entry thus enabling investors to quickly get started.
- Webull App makes it effortless to open a new account. A new investor can begin trading within a short period of time.
- Plenty of beginner-friendly learning resources greatly improve the level of skill for beginners. Webull Financial LLC website has plenty of free articles and eBooks for trading and investment in financial products. Additional information is provided through an explanatory brochure.
- Webull’s platform is very user-friendly. This makes it easy for new investors to navigate to core areas of their interest.
(i) Retirement investing
Investing in your retirement is made easy on Webull. In addition to several IRA accounts, there are several investment paths and methods available to you. The platform makes it easy for self-directed customers to make the right retirement investments.
(j) Plenty of free educational content
You don’t have to be a Webull customer to enjoy the vast quantity of educational content on the Webull Financial LLC website.
Can you buy stocks directly using your SHIB on Webull?
Before the introduction of Webull Pay, Webull handled both traditional financial products and crypto financial products from one platform. This made it easy to buy traditional products such as stocks using crypto.
However, after creating a separate platform for cryptos, you cannot buy traditional stocks and ETFs using crypto. You have to withdraw your crypto to fiat currency and then use the fiat currency to buy traditional financial products. A very cumbersome process.
Webull had to separate the cryptos from other products due to their high level of market volatility and also the need to comply with the changing legal climate in the United States.
Segregating crypto from other Webull products has had both positive and negative effects. The positive effect is that those focused on crypto trading have their separate platform. The negative effect is that those who desire a mixed portfolio comprising fiat and crypto assets can no longer do it efficiently.
Is Webull a secure place for your SHIB assets?
Webull has legal, financial, and organizational security mechanisms in place that contribute to significant risk reduction.
1. Legal security protection
Webull has undertaken various security measures to guarantee investor protection and investor confidence in its financial products. These measures include belonging to various regulatory authorities who ensure that Webull’s transactions are of high integrity. These entities include:
- Member of the Financial Industry Regulatory Authority (FINRA) – makes sure that Webull achieves industry-level standards of compliance. This is a boost to investor confidence in the platform.
- Member of the Securities Investor Protection Corporation (SIPC) – Being an active member of SIPC ensures that investors’ funds are protected. SIPC protection safeguards your assets from partial or permanent loss due to broker malpractices. Thus, you can engage in securities trading in a safe environment.
In addition, the Webull Financial LLC website has a legal disclosures webpage to allow you to understand your level of protection and exposure when making dealings on Webull platforms.
2. Financial security architecture
Webull provides an additional insurance policy for any category of assets that it deems to have significant risk exposure.
The sale of securities to the public has significant risk and legal implications. Apart from the additional insurance policy, Webull does background research, in-depth analysis, and evaluation of the past performance of a security product before listing it for trading and investment on its platforms.
3. Organizational security architecture
To prevent adverse market conditions in crypto trading from negatively affecting other markets, Webull has isolated cryptocurrency trading from conventional trading by creating separate entities to deal with each. These entities include:
- Webull Financial LLC – This is a registered broker-dealer entity for Webull. It is a member of SIPC, FINRA, NASDAQ, and the New York Stock Exchange. It is a fully-owned subsidiary of Webull Corporation.
- Webull Crypto LLC – This is a subsidiary of Webull Corp that runs cryptocurrency trading. It is one of the leading crypto exchanges in the US and continues to grab a significant share of the US crypto market.
- Apex Clearing Corp – this is a subsidiary of Webull Financial LLC. The clearing firm Apex Clearing Corp carries out clearing services on behalf of Webull.
- Apex Crypto LLC – This Webull’s affiliate provides cryptocurrency execution and related custody services on behalf of Webull Crypto LLC.
Webull does not offer XRP to its customers. Webull Financial LLC’s website provides lots of opportunities for both traders and investors. Having established its roots on the foundation of traditional stocks and securities, Webull has extended its tentacles into the world of cryptocurrencies. Read more.