Investing Simple Logo
Menu
Webull free stock promotionWebull is a free stock trading app that can allow you to earn compound interest by investing in the stock market.
Get Up To 12 Free Stocks Worth Up To $30,600!
Webull is a commission free stock and crypto trading platform. Right now, Investing Simple readers can get up to 12 free stocks with their current promotion. Open an account to receive 2 free fractional shares worth $3 to $300. Deposit any amount of money to receive 4 to 10 more free fractional shares worth $7 to $3,000. Promotion expires 9/30/2022.
Get $5 FREE Bitcoin From Coinbase Today
Coinbase is offering new users a $5 bonus paid in Bitcoin. All you have to do is make your first crypto purchase after signing up.
Written by Logan Robison on December 21, 2021
Category: 
FTC Disclosure

How To Transfer From Webull To Coinbase 2022

In this article, we will be explaining the process of transferring over from Webull to Coinbase.

Webull is a popular commission free stock trading app that also supports some cryptocurrency trading.

Coinbase is a full blown crypto exchange that supports trading for dozens of different cryptos.

In most cases, people are looking to transfer over to Coinbase in order to have greater flexibility. With Coinbase, you can purchase a much wider variety of cryptocurrencies. In addition, you are able to send and receive crypto to and from your Coinbase wallet.

Unfortunately, Webull does not offer wallets yet. For that reason, you have to sell your crypto assets in order to get your money over to Coinbase at this time.

Nonetheless, we will be outlining the process involved with liquidating crypto assets over on Webull and moving that money over to Coinbase.

Best Free Stock Promotions

BrokeragePromotionLink
Robinhood Logo1 Free Fractional Share Worth $5 To $200, 18 Companies To Choose FromDownload
Webull LogoWin Up To 12 Free Stocks Worth Up To $3,000 EachDownload
M1 Finance Robo Advisor$10 Bonus (When You Deposit $100+)Download
Moomoo LogoWin Up To 5 Free Stocks Worth $3 To $2,000 EachDownload
Acorns LogoFree $10 Bonus When You Invest $5+Download

What Is Coinbase?

With Coinbase, users can easily buy, sell, transfer, and store crypto.

Coinbase allows users to store coins for free on the platform, however they do collect fees on crypto transactions. This fee ranges based on the size of the transaction.

You are able to trade over 100 different cryptocurrencies over on Coinbase, with new additions every few weeks. This is one of the many reasons why people switch over. Apps like Webull have a somewhat limited selection of crypto.

If you sign up for Coinbase using our button above, you will get $5 worth of free Bitcoin!

How to Transfer From Webull To Coinbase

Unfortunately, Webull does not currently support a direct transfer of cryptocurrencies out of the Webull platform.

That is because they do not offer crypto wallets, which allow you to send and receive crypto. As a result, your only option right now to get your crypto moved is to sell it and repurchase over on Coinbase. 

Keep in mind that this could result in taxes if you sell for a profit. Not to mention, crypto prices will fluctuate while you are in cash moving your money. These factors should be carefully considered before making the switch.

1. Sell Crypto Assets On Webull

The first step is going to be selling the cryptocurrencies that you have in Webull. If you are looking to move all of your money, you will want to sell all of your cryptos.

Again, be sure to consider the tax implications.

Here's how to sell:

  1. Open the Webull app
  2. Once you locate your crypto asset, select "Trade"
  3. Select the "Sell" option
  4. Enter the percentage of the asset you would like to sell (100% to sell all)
  5. Click "Sell" and finally, "Confirm"

2. Withdraw Funds From Webull

Once you sell your crypto, you will need to withdraw your funds from Webull. It might take a few days for the sell transaction to settle and for you to be able to withdraw your cash.

Follow these steps below to withdraw your cash:

  1. Open the Webull app
  2. Tap "Transfer" on the home page
  3. Tap the "Withdraw" button
  4. Enter an amount equal to or below the amount you have in your account as cash
  5. Select what bank account to have the money deposited to
  6. Complete the transfer

It may take a few business days for the money to hit your bank account.

3. Deposit Funds To Coinbase

Once the funds from Webull hit your bank account, you can now make a deposit into Coinbase.

If you have an account already, you will just need to login to the app. If not, the first step is to create a Coinbase account. 

The process is simple enough to open a Coinbase account:

  • You will create an account with your email and password
  • Then, you will have to give them your address and SSN for verification and tax purposes
  • After that, you will be prompted to set up 2FA by adding your phone number
  • Then, you will link to your bank account using a secure service called Plaid
  • Lastly, it will prompt you to verify your ID by taking a picture of the front and back

Here's how to transfer money:

  1. Open the app on your phone
  2. On the left-hand column under "Wallet Balance", select "Deposit"
  3. In the "Currency Type" field, select "USD"
  4. Select the "Bank Account" tab
  5. From the drop-down menu, select the verified bank account you would like to deposit from
  6. Specify the amount for the transfer then select the "Deposit USD" option to confirm

It may take a few days for the money to transfer to your account. The good news is, Coinbase offers instant deposits. This means that you can begin investing immediately after you transfer the funds.

4. Purchase Crypto Assets

At this point, you are ready to purchase crypto assets over on Coinbase. You will find that there is a much larger variety of cryptos on Coinbase, so this may be a good time to explore new options or diverify.

Here's how to buy crypto on Coinbase:

  1. Sign into your Coinbase account
  2. Select "Buy" in the upper right-hand corner
  3. Click the "Buy" field to select the asset you'd like to purchase
  4. Enter the amount you'd like to buy
  5. Select payment method
  6. Click "Preview Buy" to view total and consider the fee
  7. Confirm the order to complete the purchase

Final Thoughts

Those are the simple steps involved with moving your crypto assets over from Webull to Coinbase. Unfortunately, at this time you cannot send or receive crypto to or from Webull. The only way to accomplish the transfer at this time is to liquidate your crypto with Webull and transfer the money via the bank. Be sure to consider the taxes before selling your cryptocurrencies.

Article written by Logan Robison
Logan graduated with a degree in finance from Brigham Young University and currently works in merchandising for a large retailer. In his free time he loves to hike and camp with his wife and son. Logan is also heavily involved in real estate investing and owns properties in Utah and Arkansas.

Platform Reviews

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Fundrise
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2022 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Website managed by Stallion Cognitive™
magnifiermenuchevron-downcross-circlechevron-down-circle
26 Shares
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram