Webull vs. Coinbase: Which is Better for Crypto Trading?

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Webull vs Coinbase

Both Webull and Coinbase are top-tier online trading platforms and they serve the market in a similar way. But, there are some differences that must be considered to determine if they are the best fit for your needs.

In this article, we will make a direct Webull vs. Coinbase comparison to help you choose the one that is best for you.

Webull is currently offering new users up to 12 free stocks for trying the platform. You’ll get two free stocks (each worth $3 – $300) for signing up. Deposit any amount to get 4-10 more free stocks worth $7-$3,000 each. Sign up for Webull through this link to be eligible for the bonus.

Webull vs. Coinbase Summary

The main difference between Webull and Coinbase is that Webull offers a greater range of investment options (stocks, options, ETFs, and crypto), while Coinbase focuses exclusively on cryptocurrency.

When it comes to crypto, Coinbase has more to offer. You can buy and sell many different cryptocurrencies on Coinbase as compared to Webull, which offers the more popular and well-known options like Bitcoin, Ethereum, and Dogecoin, among others. And while you can buy and sell crypto on Webull, you cannot transfer it to your own digital wallet or use it for any purpose aside from an investment.

If you view cryptocurrency as an investment and you want to hold stocks, ETFs, and crypto within the same platform, Webull is the more appropriate choice. But if you appreciate having broad access to more cryptocurrencies, or if you want to store it using your own digital wallet, Coinbase would be better for you.

The Webull Basics

Webull was founded in 2017. It’s a US-based company (the parent company is Chinese) and is regulated by the U.S. Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA).

Initially, Webull was a mobile app only, but over the years it has evolved into a desktop platform and a web-based solution, as well as a mobile app. Webull has grown rapidly to become a popular and well-respected online broker offering investment products and crypto trading.

Here are nine key Webull features to consider:

  1. Webull uses 20+ technical indicators.
  2. A live news feed is integrated into the platform.
  3. Market data is monitored in real-time.
  4. Extended trading hours are available.
  5. The investor has access to IPOs before they are public.
  6. There is a stock lending program.
  7. A free trade simulator is included.
  8. Webull offers commission-free trades, including short-selling.
  9. You have access to the most popular cryptocurrencies.

Learn more in our Webull review.

Commission-Free Trades
Get Up to 12 Free Stocks from Webull! Get Up to 12 Free Stocks from Webull!

Webull is a free investing app that provides advanced reporting tools and allows you to make free trades of stocks, ETFs, and options. Right now Webull is offering up to 12 free stocks when you signup through our link (use the button below) and deposit any amount.

Features:
  • Commission-free trades of stocks, ETFs, options, and cryptocurrency
  • Buy fractional shares for any amount
  • Extended trading hours
  • Advanced reporting tools
  • IRAs now available
  • 24/7 customer service

The Coinbase Basics 

Coinbase was founded in 2012. For the first five years it only supported Bitcoin (BTC). Over the years it’s added Ethereum (ETH), then Litecoin (LTC) and now there are 100 coins, stablecoins, and tokens on its list.

Coinbase has gone from strength to strength during the past few years, including its own initial public offering. Here are nine important Coinbase features that you may want to consider:

  1. Coinbase allows you to convert between crypto easily.
  2. The mobile app works on iOS and Android devices.
  3. Recurring buys can take place on a daily, weekly, or monthly basis.
  4. Coinbase supports users with learning tools to improve their crypto trading skills.
  5. Users can be paid via bank account, PayPal (NASDAQ: PYPL), debit card, and write transfer.
  6. Crypto transfers to and from the Coinbase account are simple.
  7. The crypto wallet works on mobile or a Chrome browser extension with no need for a Coinbase account.
  8. FDIC insurance can be arranged via a third-party bank for fiat funds.
  9. A Coinbase card should be available in the near future.

Products 

Webull has four investment securities: equities (stocks), options, exchange-traded funds (ETFs), and cryptocurrencies. Webull allows fractional shares trading, which is an attractive option for new and younger investors who may not have the funds to purchase full shares of companies like Amazon or Facebook.

Webull also has both cash and margin accounts (read our comparison of Webull cash vs. margin accounts). There are retirement accounts (IRAs) with support for Roth, traditional, and rollover IRAs. Webull has no long-term investment products such as fixed-income securities and bonds. It has a limited digital token offering and you need to sign up on the platform to trade cryptocurrencies.

Coinbase exclusively offers cryptocurrency investment and trading with access to more than 100 different tokens and digital coins including its USD coin. Webull has a limited selection, there’s no stable coin, and the platform has no digital wallet. Coinbase offers a digital wallet and unlike Webull, you can transfer your cryptocurrency holdings off of their platform.

Webull vs Coinbase: How the Platforms Work  

Webull offers mobile, desktop, and web-based platforms that investors praise for their intuitive layout and simple-to-navigate interfaces. The workplace station is customizable, you can add charts, fundamental analysis, analyst ratings, a stock screener, and more.

Webull offers extended trading hours which is a very attractive feature for investors that have a full-time job and other commitments during normal trading hours. Webull has no tools to manage an investment portfolio, it’s tricky to get customer service support on the phone, and the platform has no chat features. To get the most out of Webull, the investor should be pretty self-sufficient and knowledgeable about investing.

Coinbase still has its original platform, and for advanced users, they’ve added Coinbase Pro. The original Coinbase platform allows users to trade in crypto using USD. Coinbase Pro can be used for crypto to crypto exchanges with certain charting features to limit, market, and stop orders.

Coinbase Pro users can trade a wider variety of digital coins than basic platform users. Coinbase has been criticized in the past for poor customer service and limited support, but they have taken steps to improve performance. The company now has more customer support phone agents, but there’s no email support and users need to complete an online contact form for web-based support.

Mobile Apps

Webull has a decent mobile app that works in a consistent manner with the desktop and web-based platforms. There are a few minor differences to account for the smaller screen real estate, but they are essentially the same. Users can set up mobile app watchlists in the same manner as the other Webull platforms. The trading ticket information can be customized too, and the mobile app can be used for research.

Coinbase has a highly-rated mobile app for iOS and Android that has many of the features found on the Coinbase desktop platform.

Fees

Coinbase has a convoluted pricing structure that many new investors struggle to understand. Let’s break them down here in an attempt to demystify the process:

  • Transactions under $10 are charged at $0.99.
  • Transactions from $10 up to $25 are charged at $1.49.
  • Transactions from $25 up to $50 are charged at $1.99.
  • Transactions from $50 up to  $205 are charged at $2.99.

The fee is set at 1.49% if a traditional payment method is used.

But, the price rises to 3.99% if the user pays with a debit or credit card.

If the user wants to use PayPal this incurs a 2.5% transaction fee.

Coinbase Pro has a separate pricing structure. The fees will vary depending on your pricing tier, which is based on your 30-day trading volume. This is a maker-taker fee structure. When market orders are filled immediately the taker fee is charged. If the order is not filled immediately, then the maker fee is charged instead.

In comparison, the fee structure for Webull is pretty simple to understand.

  • The fee is not technically charged, but it’s based on a 100-point spread.
  • A single basis point is equivalent to 1/100 of 1% in overall buying and selling fees.
  • This equates in real terms to a 1% charge on every cryptocurrency transaction.

The Coinbase Pro transaction fees tend to be lower, but Webull spread fees are slightly higher and the standard Coinbase platform is the most expensive.

It’s important to note that the Webull fees mentioned here are specifically for cryptocurrency transactions. Webull changes no fees or commissions for stock and ETF trades.

Related: How Does Webull Make Money?

Cryptos 

As you might expect, Coinbase has more cryptocurrency options when compared to Webull. At the time of writing this article, Coinbase is involved in active trading with about 100 coins and Webull offers 37.

To be fair to Webull, all the most popular cryptocurrencies can be traded on their platform, including Bitcoin, Cardano, Ethereum, and more. But, there are some cryptos you can find on Coinbase and not on Webull, such as Algorand, Uniswap, Polkadot, Solana, Internet Computer, and more.

The cryptocurrency selection on Webull does not include stable coins, which are pegged to assets such as the USD. Stable coins are popular with investors that want to lend crypto at a stable price and earn interest on that loan. Purchasing stable coins, such as Coin and Tether is possible on Coinbase, but they’re not available on Webull.

Webull vs. Coinbase: Wallets 

Webull has no crypto wallet options. The platform facilitates the buying and selling of crypto, but there’s no way to transfer it to any other location. Crypto transactions on Webull are facilitated by Apex Crypto, and they securely store the cryptocurrency for investors. This is a disadvantage because the user is not truly in full control of the crypto that they have purchased. So, if Webull decided to freeze the account, there would be no way to access your held coins. Essentially, trading cryptocurrency on Webull is very much like trading stocks. This makes sense since Webull is a stock trading platform first and foremost.

Coinbase offers both custodial and non-custodial crypto wallets. Both can send and receive cryptocurrency from an external wallet, but the custodial wallet is controlled by the Coinbase exchange. If you purchase crypto and you want to keep it on Coinbase, you will need a custodial wallet. The non-custodial wallet is controlled by the user, this is offered with a Coinbase Wallet app that’s free for anyone to download.

The difference here really depends on your perspective. If you value freedom and flexibility, Coinbase is more appropriate. But if you view your crypto holdings as investments just like a stock or ETF, you may prefer the simplicity of having them store it for you.

Security

Both platforms are secure, but Coinbase may be seen as a safer crypto platform because it allows the user to have full control over their coins and they are insured. Webull uses a separate company named Apex Crypto to execute crypto transactions and store the funds. Apex Crypto does provide safe storage, but there are two things that you need to be aware of:

  1. They don’t offer insurance on your cryptocurrency holdings.
  2. Their risk disclosure states that they may not have adequate financial coverage to repay crypto losses in the event of technical difficulties.

Coinbase is geared up for crypto trading and storage and they handle everything in house. The company has reported that 98% of its customer’s crypto funds are held in offline cold storage. The lack of an internet link is widely considered to be the safest option when it comes to storing cryptocurrency safely. 

Any remaining Coinbase crypto funds are stored in online storage which are known as “hot wallets”. Coinbase has adequate levels of insurance which makes it one of the more secure crypto exchanges.

Coinbase allows the user to transfer their crypto to an external wallet using private keys. This is not possible with Webull and if there’s a problem on the platform you may lose access to your cryptocurrency.

Education and Research 

Webull has a strong research focus with specialized tools for fundamental and technical analysis. Certain technical indicators are only available via a paid upgrade, but there are some useful free features. Webull has a well-designed investor dashboard with built-in alert and watch lists, analyst reviews, and real-time streaming quotes. But, Webull does not have any portfolio management tools.

Coinbase has an excellent library of content to improve the user’s knowledge about crypto. There’s even a specialized learning program called “Coinbase Earn” which incentivizes the user to learn and earn at the same time. Coinbase has an entire series of video tutorials and exams that you can follow and take to learn about trading. Coinbase Pro adds advancing charting features, which may be worth the extra cost for traders who want to improve.

Webull vs. Coinbase Conclusion  

As you can see, a direct Coinbase vs. Webull comparison is difficult because they both have certain features that will appeal to different investors. Coinbase is user-friendly, it’s easy to navigate for new investors and it has excellent security. Coinbase has a more extensive choice of cryptocurrencies which is an attractive feature. Webull may be a good fit for people that want to trade in large capacities of well known crypto such as Bitcoin and/or Ethereum.

Webull is an excellent platform for traders and investors interested in multiple asset classes that they can trade using a single platform. Webull offers support for ETFs, stocks and options, and cryptocurrencies.

Making the final choice will ultimately depend on the kind of trader/investor you are or aspire to be.

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