WEBULL CRYPTOCURRENCY NOW AVAILABLE - BUT, IS IT WORTH IT? - YouTube

welcome back to the channel glad to have you  here WeBull has finally allowed fractional  

cryptocurrency trading could this actually pave  the way for future fractional share trading we'll  

have to see but today's video is all about WeBull  and cryptocurrency some things that you need to  

know there's some hidden fees there's also some  tactics and how they operate this that you should  

know before you sign up or start investing in  crypto within WeBull for those sweet lifers  

welcome back to the channel if you're not part  of the channel make sure you subscribe today  

hit the button below ring the bell you know  the drill and you won't miss out on the next  

personal finance video coming here to the channel  when it comes down to cryptocurrency there's two  

ways that you can invest or use cryptocurrency  how do you like to use your cryptocurrency what  

I'd like you to do comment below let's get the  comments down below lit on fire what i want  

to know do you like investing in cryptocurrency  whether it's bitcoin or litecoin or Ethereum or do  

you like to use cryptocurrency as a digital wallet  as an actual means of currency exchange for either  

a service or a product comment down below I'd  love to hear from you when it comes down to crypto  

especially within Webull they now offer this it's  fractional you can buy half of a percentage of  

bitcoin you can buy an entire bitcoin if you  want it doesn't matter but you are investing  

in the cryptocurrency what that means is this  is not where you go and you buy like a bitcoin  

and all of a sudden you have this bitcoin that you  can use for something like a digital wallet or for  

services or products this is purely investing  in the kind of the share price if you will  

of the particular coin the cryptocurrency coin  that you're investing in very similar to robinhood  

if you want something that will allow you to use  this as your own bitcoin address where you'll have  

a wallet and you'll be able to use it you want to  look at something else coinbase.com something like  

that where it allows you to have a digital wallet  or a secure way to use cryptocurrency but when it  

comes down to Webull and this new announcement  of being able to trade fractional cryptocurrency  

there's a couple things I'm going to share in  today's video that you need to know number one is  

the fractional share trading that they now allow  within cryptocurrency in Webull and some hidden  

fees that they built in that you should know about  I'm gonna share that with you today number two I'm  

gonna trade cryptocurrency on Webull live here on  camera I'll put my camera phone screen up here on  

the video we'll go through we'll buy some crypto  I'll show you how exactly it works the last thing  

we're gonna talk about today is very important why  i actually don't really like Webull cryptocurrency  

in the past and and currently within stock trading  within weibull you had to put up the entire amount  

for one cryptocurrency so what i mean by that  bitcoin i think right now at the recording this  

video is going for like 19 000 per one bitcoin  in the past in Webull you had to put up 19 000  

to get one bitcoin you couldn't invest in like  a fraction of a bitcoin and only put ten dollars  

into that you had to pony up the dough for the  entire amount same thing with share trading if  

you want to buy one share of apple whatever that  share price is for apple you have to put up the  

entire amount and buy one full share you cannot  buy a fractional share in apple only put in ten  

dollars and call it a day that's the one thing  about Webull i have video Webull versus robinhood  

it's linked up above you can see the differences  between these two investment apps robinhood allows  

you to do fractional share trading and fractional  cryptocurrency trading all inclusively so that's  

something you may need to consider if you're a  starter investor and you don't have the funds  

to put up the entire amount what they  offer is cryptocurrency including bitcoin  

bitcoin cash Ethereum litecoin and they say  there's a many other cryptocurrencies on the way  

so as time ticks on they will be adding additional  crypto now their trading hours and that's the nice  

thing about crypto it trades 24 7. it doesn't  have a trading window like the stock market 24 7  

no matter what time of day it is you can invest  sell trade whatever within the cryptocurrency  

market just keep in mind within Webull if you look  at the fine print i looked at it so you don't have  

to worry about it it says they're going to shut  down from 5 30 to 6 30 p.m eastern standard time  

and the reason they're doing that is they want to  do routine maintenance and account reconciliation  

keep that in mind that's kind of important because  when it comes down to putting in a share right at  

like 5 25 pm eastern time you may want to hold off  and wait until after this account maintenance it  

looks like it says every single day they're  going to be doing this keep that in mind if  

you're looking to do this within Webull and then  within this first topic there is a hidden fee  

that you need to know about in the fine print  it clearly states that even though they don't  

charge commissions and there's nothing that  once you check out it says okay you're buying  

ten dollars worth of bitcoin and here's a service  charge it'll show nothing it'll show zero dollars  

in service charges but they build in what they  say right here it is 100 bps markup built into  

the price of the cryptocurrency that you're  buying and selling they're going to get you  

on the way in they're going to get you on the  way out you may ask wtf is bps what does bps  

mean by the way wtf does not mean what you  think it means it means what's the follow-up  

get your mind down in the gutter man bps means  basis point think about it this way it's 1 100th  

of one percent so 0.01 percent equals 1 bps so if  they're charging you 100 bps doing a little bit of  

math that's one percent of the cost that's going  to be built into the price that you're buying the  

bitcoin so let's try to make it easy if it's going  for let's say okay well this would be a dream  

bitcoin was only going for ten dollars but let's  say right now the price of bitcoin is nine dollars  

and ninety cents they may charge you ten dollars  or something of that nature keep that in mind that  

that could easily happen even though the true cost  of bitcoin is nine dollars ninety cents you're  

gonna be buying it for ten dollars it's hidden  fees now in a stock market they cannot do that  

the sec has a regulation on the stock market that  states that if you're going to do something like  

that you actually have to clearly identify it upon  the purchase or the trade of a share so there is  

regulation when it comes down to the stock market  keep in mind cryptocurrency is not regulated  

so these type of things can happen all right  let's cut to the next thing i am going to trade  

I'm gonna put it up on the screen here in just a  second I'm gonna trade some cryptocurrency here on  

Webull and we're gonna look at exactly how this  works first thing I'm gonna do now when you go  

into Webull the first thing you're going to want  to do is you sign up and by the way they do offer  

free stock when you sign up it's one of their  promotions link down below in the description take  

advantage of up to four free stocks when you sign  up with Webull but you are gonna have to apply  

for the cryptocurrency trading within the app  it takes about a day or so and then they'll  

they'll basically approve your application as  long as everything checks out okay and then keep  

in mind even though it's not necessarily Webull  that is servicing the cryptocurrency account  

it's something called apex crypto doesn't  matter doesn't cost you any money it's just  

almost like a third party app that's helping them  but it's all serviced within the Webull app but  

what you can do is if you go over into your main  Webull account an easy way i have found to do this  

is just click on the button that says quick trade  and then from here I'm going to pop up my screen  

and you can simply search for the symbol or the  name by just typing in bitcoin so here we go  

bitcoin right there it is you can choose between  either the actual bitcoin or bitcoin cash let's  

just do the uh trusty good old bitcoin here you'll  see down below here it says crypto buying power of  

24.17 that is what i have in my account currently  they say thanks to the fractional cryptocurrency  

trading that you can trade as small as one dollar  so I'm going to literally put in one dollar into  

this and we're gonna see how this works okay so  if you look down here it says estimated in bitcoin

two 0.0005242 and it's it's in between there but  anyway so that's what i'll receive in bitcoin  

let's just see what happens let's put a dollar in  just to see how this works hit buy uh yep great  

confirm done open order is there let's see how  long it takes to actually there goes okay it must  

have went let's go into my positions and there she  is so I've already lost a penny but that's okay  

keep in mind cryptocurrency is always  high volatile i mean it can go up and down  

in the blink of an eye but hopefully we can  make some money on our one dollar so that's  

relatively easy isn't it you just simply  go in the app you can uh purchase anything  

you want within the limited range of bitcoin  litecoin Ethereum and bitcoin cash at the moment  

and it takes a few seconds and you can  invest with as little as one dollar now  

thanks to the fractional cryptocurrency again i  hope someday that Webull gets with the program  

and offers fractional share trading on the  stock market just like everything else stash  

robinhood even Schwab bank is now getting into  the game there's a lot of people offering this  

and i really hope that Webull will be next up on  this game but okay so i know i waited till the end  

to tell you this but this is important i wanted to  kind of give you some background behind everything  

because the next step is why i actually don't  really like this the reason i don't necessarily  

like at the moment the cryptocurrency within  Webull first of all of course you got the hidden  

fee but who cares there's a lot of hidden fees  in the cryptocurrency market as it is now anyway  

i think more importantly is how long it takes when  it comes down to cryptocurrency it's a very fast  

moving market and i know a lot of you out there  that are interested in this market want to make  

trades quickly the thing with Webull if you want  to transfer money in you initiate the transfer  

to from your bank or from whatever financial  institution that you've plugged into Webull and it  

takes time to not only transfer over but to clear  and give you that crypto buying power it takes a  

long time in fact I've waited three days for that  25 that i had earlier to actually show up that is  

a kind of a long time let me compare that for a  second to robin hood within the robin hood app  

i have the ability to transfer in five dollars ten  dollars up to a thousand dollars and get immediate  

instant access to that money the reason really  how that works is they basically give you that  

buying power before they withdraw it from your  bank account as long as you're good with that  

and you don't bounce a check on them essentially  and you actually have the funds and you keep your  

account in good standing robin hood will continue  to give you that option and i think that's really  

cool because that gives you an ability to say hey  something's going on in the market whether it's at  

stock market or the cryptocurrency market and it's  really good right now and i want to get in on it  

and you don't have to sit there and be like  okay well i gotta go through the process  

of transferring money from my bank account into  the app and wait days by that time a great buying  

opportunity could be long gone so that's the  one thing i am a little bit uneasy about when  

it comes down to crypto and then of course uh you  know within Webull there is a little bit you know  

a lot of people on my other video were sharing  the fact that you know it is a little bit more  

complicated there is a little bit more steps to  it it's a little bit more clunky keep in mind  

guys Webull is a little bit new yet give them  time they're going to continue to improve this  

and and i think they will i think they'll not only  improve it but they're going to make themselves  

stand out because they're competing against places  like stash m1 finance robin hood and places like  

that and of course they're going to want to become  the best investment app there is in order to do  

that they got to start off small they got to  start off right and they'll continue to scale up  

i think that this news right now with fractional  cryptocurrency is a step in the right direction  

even though i'm still not a big fan of it yet  i think in time i will continue to grow into  

it especially if they can offer fractional share  trading on the stock market that's it for today  

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it helps the video it helps the channel  and i certainly would appreciate it and  

thank you so much for sticking with me all  throughout this video you are truly a loyal  

awesome person and i appreciate that other  than that guys as always continue to live  

your sweet life because you're worth it have  an awesome day and we'll see you next time  

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