Webull Pay Review
In this article, we’ll learn:
• Webull Pay provides trading in several cryptocurrencies.
• There are no commissions at Webull Pay, although crypto prices do have bid-ask spreads.
• Some cryptos can be transferred in and out of Webull Pay.
Overview of Webull Pay
If you want to buy, sell, and store cryptocurrencies, Webull Pay may have an answer for you. We have the full scoop on this crypto broker, so keep reading.
Webull vs. Webull Pay
Webull Corporation offers trading in securities and futures through its subsidiary Webull. Webull does not offer cryptocurrency trading. Webull Pay is a second subsidiary of Webull Corporation. Webull Pay does provide crypto trading (and only crypto trading).
Cryptocurrency positions at Webull Pay are not FDIC or SIPC insured. The crypto service is delivered through a partnership with Bakkt Crypto Solutions, LLC. Both Webull Pay and Bakkt are registered with the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). Bakkt is also licensed by the New York State Department of Financial Services to engage in virtual-currency business.
Webull Pay Highlights
Through the Webull Pay website and mobile app, clients can buy and sell digital currencies. There are no other assets on the platform. Besides trading cryptos, it’s possible to transfer some currencies in and out of Webull Pay.
Despite the company’s name, it is not possible to purchase goods and services using coins stored in Webull Pay. To perform this function, a coin must first be sold and converted into U.S. dollars. At that point, the cash can be transferred to a linked bank account to use as a funding source.
Webull Pay Available Coins
Currently, there are 23 coins available for trading on the Webull Pay platform. They are:
- Aave (AAVE)
- Algorand (ALGO)
- Arbitrum (ARB)
- Avalanche (AVA)
- BAT (BAT)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- BONK (BONK)
- Cardano (ADA)
- Chainlink (LINK)
- Cosmos (ATOM)
- EOS (EOS)
- Dogwifhat (WIF)
- Ethereum Classic (ETC)
- Dogecoin (DOGE)
- Hedera (HBAR)
- Lido DAO (LDO)
- LINK (LINK)
- Litecoin (LTC)
- NEAR Protocol (NEAR)
- Optimism (OP)
- Pepe Coin (PEPE)
- Polkadot (DOT)
- Ripple (XRP)
- SHIB (SHIB)
- Solana (SOL)
- Stellar (XLM)
- Sui (SUI)
- The Graph (GRT)
- Trump (TRUMP)
- UNI (UNI)
- USD Coin (USDC)
New York residents can trade all of these coins except USDC.
Besides the tradable coins, the Webull Pay platform has details on many other coins that can’t be traded. These include Tether, Stellar, Aptos, and many others.
Opening a Webull Pay Account
Thanks to Webull Pay’s user-friendly software, it’s really easy to open a crypto account. Either the
website or mobile app can be used for this purpose. You’ll need a mobile phone number to accept a text
message. After this initial step, go through the prompts, supplying all requested information. You will
need to upload a digital copy of a government-issued ID. Without this required documentation, it is
still possible to log into the mobile app and website. Trading, however, cannot commence until the
account is fully open.
Once an account is open, it can be funded with an ACH deposit. It is not possible to deposit money via
wire transfer. Webull Pay also does not support funding with a debit card.
Webull Promotion
Visit Webull Website
Researching Coins
With or without an account, it’s easy to stop by Webull Pay’s website and research coins (a login is required on the app to do this). During our investigation on the website and mobile app, we found charts, current prices, and news articles with thumbnails. Once logged in with an actual account on either software platform, it’s possible to join in lively discussions for the various coins displayed.
Webull’s website and mobile app both have the same pre-installed watchlist of coins. It’s not possible to create a custom list. It is possible to create price alerts on coins. Criteria include price above or below and moving up or down by a percentage.
Submitting Orders
An intuitive order ticket appears on both the website and mobile app. To buy a coin, simply click or tap on the Buy button. Webull Pay offers market, limit, recurring, and stop-limit orders. Trades are placed in whole dollars starting at just $1. It is not possible to short currencies at Webull Pay.
Transferring Coins
With the exception of New York residents, Webull Pay customers can transfer coins in and out of their accounts. Only four coins currently support transfers, though. They are:
Bitcoin
Ethereum
Bitcoin Cash
Litecoin
A single transfer must be worth at least $10 and cannot exceed $3,000. There is a daily transfer limit of $5,000.
To make a transfer, go to a coin’s profile and look for the Show More link. Tap on this and you’ll get a new page with send and receive buttons. Tap on the direction you want and follow the on-screen prompts.
Webull Pay Pricing Schedule
Webull Pay charges no commissions on crypto trades, although there is a markup of 1% on buy orders and a markdown of 1% on sell orders. Accounts have no minimums and no fees.
Webull Pay also charges no fees for transfers. There could be a network fee for a transfer, though.
Webull Pay Review Verdict
Webull Pay has a good crypto service that offers computer and mobile traders decent, albeit not great, resources to trade and transfer coins. There are limitations, and with a 1% spread on either side, traders should do some comparison shopping before opening an account.
Webull Promotion
Visit Webull Website
Updated on 2/24/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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