Webull is a popular online trading app that millions of investors use to access financial and crypto markets. The commission-free app now manages more than $3 billion in assets.
If you’ve been on the Coinbase platform and want to try something different, an option you might be considering is Webull.
On the Webull app, you can buy and sell crypto as well as stocks, ETFs and options listed on US exchanges.
Here are the steps you will need to take to make the transfer from Coinbase to Webull.
In order to apply for a Webull account, you will need to meet the following requirements:
There is no initial deposit requirement for Webull. The steps are easy to follow, and everything is completed right within the app.
The next step is to sell the Coinbase crypto assets you want to transfer to Webull.
Important Note: If you make a profit on the sale of your cryptocurrency, you may have to pay capital gains taxes.
Unfortunately, Webull does not yet offer crypto wallets. As a result, you are unable to send/receive crypto to/from Webull. The only way to move assets is in cash.
Here's how to sell your crypto on Coinbase:
You may need to wait a few days for your sale transaction to be completed. During this time, you won’t be able to make the transfer. After the transaction settles, you can transfer the funds from Coinbase to your linked bank account.
Once your cash balance is eligible for transfer, the next step is to move those funds from Coinbase to your bank account:
Once the bank transfer has cleared, your next step is to make the deposit from your bank account into your new Webull account.
If you want to stick with crypto investing, use this money to repurchase crypto over on Webull.