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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