Yes, Webull offers cryptocurrency trading, but only for certain coins and only in certain states
Webull lets you buy and sell cryptocurrencies directly through its app and web platform. The coins available depend on where you live — some states restrict crypto trading more heavily than others. Bitcoin, Ethereum, and Dogecoin are typically available, but the full list changes based on state regulations and Webull's own offerings.
You do not need a separate crypto wallet or exchange account to trade on Webull. The platform holds your coins in custody, meaning Webull keeps them secure on your behalf. This is simpler than managing your own wallet, but it also means you do not own the private keys to your coins.
Key Takeaways
- Webull offers crypto trading in most states, but availability varies by location and Webull's regulatory decisions.
- You can trade major cryptocurrencies like Bitcoin and Ethereum without opening a separate exchange account.
- Webull holds your crypto in custody, so you do not manage private keys or transfer coins to an external wallet.
- Crypto trades on Webull are subject to the same account types (cash, margin, options) as stock trades.
- You can set up crypto trading by enabling it in your account settings, though some states may require additional verification.
Which cryptocurrencies Webull actually offers
Webull's crypto lineup includes Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), and several others, but the exact list is not fixed. The platform adds and removes coins based on regulatory changes and market conditions. You can see the current available coins by opening the Webull app and searching the crypto section.
The coins you can trade also depend on your state. New York, for example, has stricter crypto rules and may have a smaller selection available to residents. If you live in a state with heavy regulation, Webull may not offer crypto trading at all, or may offer only a limited set of coins.
Webull does not offer fractional shares of crypto the way it does for stocks. You must buy whole coins or portions of coins in dollar amounts. For example, you can spend $50 on Bitcoin even though one full Bitcoin costs much more.
How to enable and start trading crypto on Webull
To trade crypto on Webull, you first need an active brokerage account. Once your account is open and funded, go to your account settings and look for the crypto trading option. Webull may require you to enable crypto trading separately from stock trading, and some states require additional identity verification before you can turn it on.
After crypto trading is enabled, you can search for any available coin in the app's search bar or navigate to the crypto section. Click the coin, review the current price, and enter the dollar amount you want to buy. Webull will show you how many coins or fractions of coins that amount will purchase. Confirm the order and it executes at market price.
Selling works the same way in reverse. Find the coin in your holdings, enter the amount you want to sell, and confirm. The proceeds land in your Webull cash balance, which you can then withdraw to your bank account or use to buy other assets.
Trading hours and fees for crypto on Webull
Cryptocurrency trades on Webull 24 hours a day, 7 days a week, unlike stocks which trade during market hours. This means you can buy or sell Bitcoin at 3 a.m. on a Sunday if you want to. Prices move constantly, so the price you see when you place an order may not be the price you get if the market moves between the time you click and the time the order fills.
Webull charges no commission on crypto trades, just as it charges no commission on stock trades. However, you pay the spread — the difference between the bid price (what buyers offer) and the ask price (what sellers want). On volatile coins or during low-volume times, the spread can be wider, meaning you lose more money between what you pay and what you could immediately sell for.
Custody and security of your crypto on Webull
When you buy crypto on Webull, the platform holds it for you in what is called a custodial arrangement. Webull stores the coins in secure offline vaults and insures them against theft or loss. You do not receive a private key or control the coins directly — Webull manages that part.
This setup is safer for most people than managing their own wallet, because you cannot lose a private key or accidentally send coins to the wrong address. However, it also means you are trusting Webull to keep your coins safe and to return them if you want to sell or transfer them. If Webull goes out of business or is hacked, your coins could be at risk, though Webull's insurance is meant to cover that scenario.
You cannot transfer crypto off Webull to an external wallet or exchange. Your coins stay on the Webull platform. If you want to move them elsewhere, you would have to sell them on Webull and then buy them again on another platform.
Tax reporting for crypto trades on Webull
Every time you sell crypto at a profit, that gain is taxable income. Webull tracks your trades and provides tax documents (Form 1099-B or similar, depending on your situation) at the end of the year. You are responsible for reporting these gains to the IRS, even if Webull does not send you a form.
The tax treatment depends on how long you held the coin. If you sold it within a year of buying it, the gain is taxed as short-term capital gains, which are taxed at your ordinary income rate. If you held it longer than a year, it is taxed as long-term capital gains, which usually have lower tax rates. Losses can offset gains, so keep records of all your trades.
Webull's tax documents may not be perfect, especially if you have moved coins between accounts or made complex trades. Many people use third-party tax software designed for crypto to reconcile their Webull records with their actual tax liability. The IRS takes crypto taxation seriously, so do not skip this step.
Risks and limitations of crypto trading on Webull
Cryptocurrency is highly volatile. Bitcoin and Ethereum can swing 10 or 20 percent in a single day. If you are not comfortable with that kind of price movement, crypto may not be right for you. Webull does not limit how much you can lose — if you buy $1,000 of a coin and it drops to $100, you have lost $900.
Webull's crypto offering is simpler than a dedicated crypto exchange like Coinbase or Kraken, which means fewer coins are available and fewer advanced trading tools. If you want to trade obscure altcoins or use features like margin trading on crypto, you may need to use a different platform.
Regulatory changes can affect what Webull offers. If your state passes new crypto laws, Webull may restrict or remove crypto trading for residents. This has happened before in states like New York, where regulatory uncertainty has limited which platforms can offer crypto.
Frequently Asked Questions
Can I buy crypto on Webull if I live in New York?
Webull's crypto offerings in New York are limited due to state regulations. Check your account settings or contact Webull support to see what coins, if any, are available in your state. Some states restrict crypto trading more heavily than others.
Do I pay taxes on crypto I hold but do not sell?
No. You only owe taxes when you sell crypto at a profit or trade one coin for another. Simply holding Bitcoin or Ethereum in your Webull account does not trigger a tax event, no matter how much the price goes up.
Can I transfer my crypto from Webull to another exchange?
No. Webull does not allow transfers of crypto off the platform. If you want to move your coins elsewhere, you must sell them on Webull, withdraw the cash to your bank, and then buy them again on another exchange.
What happens to my crypto if Webull shuts down?
Webull insures the crypto it holds in custody. If the company fails, your coins should be returned to you or covered by insurance. However, there is always some risk with any platform. If security is your top concern, some people prefer to hold crypto in their own private wallet.
Does Webull charge fees to hold crypto?
Webull charges no monthly or annual fees to hold crypto in your account. You only pay the spread when you buy or sell. Some other platforms charge custody fees or monthly holding fees, but Webull does not.