Bitcoin

Webull vs. Coinbase: Which Is Right for You? | The Ascent by Motley Fool

webull vs. coinbase: available cryptos

In terms of cryptocurrency selection, coinbase is way ahead of webull and most other platforms. allows you to buy and sell more than 200 cryptocurrencies, which include a mix of the largest coins on the market and smaller projects.

for webull credit, it offers a strong lineup of over 40 types of cryptocurrencies. the broker has also done a good job of expanding its selection over time.

Reading: Webull bitcoin fees

you will have access to the most popular cryptocurrencies on webull and coinbase. They both offer bitcoin (btc), ethereum (eth), solana (sol), and a few other big names. The most notable crypto that you won’t find on WeBull (but you will on Coinbase) is Polkadot (dot). other than that, what webull lacks is mainly its selection of medium and small cryptocurrencies.

webull vs. coinbase: wallets

the biggest drawback of webull is that it does not offer any kind of wallet function. that means it does not allow you to transfer crypto to or from your account. all you can do is buy and sell. Actually, you can’t use the cryptocurrencies you buy on webull, and you can’t move them to your own cryptocurrency wallet, so it’s under your control. will always be in webull’s possession.

coinbase offers a custodial and non-custodial crypto wallet. both types of wallets can send and receive crypto from external wallets. The difference is that a custodial wallet is controlled by the exchange, in this case Coinbase. if you buy crypto and hold it in coinbase, it will be in a custodial wallet.

See also: Miamis mayor backed MiamiCoin—then its price dropped 95% — Quartz

A non-custodial wallet is controlled by the user. Coinbase offers this with Coinbase Wallet, a free app that anyone can download. if you move your crypto to coinbase wallet then you have full control of it. You can also transfer the cryptocurrencies you buy on coinbase to other cryptocurrency wallets, if you have a different one that you prefer.

compare options: read the ascent guide on the best crypto wallets.

webull vs. coinbase: security

coinbase is one of the most secure crypto exchanges and provides more information than webull about their security measures.

webull uses a company called apex crypto for cryptocurrency trading and custody services. When you buy a cryptocurrency on Webull, Apex Crypto executes the transaction and stores those funds. it’s hard to assess how secure this is, because nothing is available from webull or apex crypto about the type of cryptographic storage used.

coinbase, on the other hand, handles its own cryptocurrency trading and storage. it also provides extensive information on the measures it takes to keep crypto funds safe. These are the steps that coinbase follows to store cryptocurrencies safely:

  • keeps over 98% of crypto funds in cold storage offline.
  • uses secure cold storage facilities that are protected and monitored 24/7 days of the week.
  • maintains an extensive crime insurance policy to protect a portion of the digital assets held in its storage systems against loss due to theft.

See also: Will Strike Announce A Partnership With Apple At Bitcoin 2022? Heres The 411

Both platforms offer two-factor authentication (2fa) and Coinbase requires it. With 2fa enabled, it’s much more difficult for anyone to gain unauthorized access to your account.

both also offer insurance coverage for cash deposits. Coinbase has fdic insurance that covers up to $250,000 per individual. Webull is a member of the SIPC, which protects the securities of its members’ clients up to $500,000 ($250,000 cash). The broker’s clearing firm, Apex Clearing, has purchased an additional $150 million insurance policy that covers securities and cash, but not cryptocurrencies.

final shot

if you are serious about investing in cryptocurrencies, coinbase is the better option than webull. offers a much wider selection, so you will be able to buy larger and smaller coins. you can rest assured that your crypto is safe and secure at coinbase. the exchange also has low fees if you use their advanced trading tool.

Most importantly, Coinbase does not restrict what you can do with your crypto. once it’s in your possession, you can move it to a wallet, transfer it to a different exchange, or send it to someone else.

webull offers more types of investment and has a great mobile platform. If you are looking for stock trading apps that also allow you to add crypto to your portfolio, then webull is worth a look. just be aware that it doesn’t have all the features you’d get from a full crypto exchange.

See also: Bitcoin vs. Bitcoin Cash vs. Bitcoin SV: Whats the Difference? – BlockSocial

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button