Dogecoin (DOGE) has really taken off. It is now so popular with the cryptocurrency community that it has its own holiday on April 20. That also means that more and more people now want to trade in the Shiba-Inu-sponsored cryptocurrency.
So, where can you start trading Dogecoin? And can you do so commission-free?
We’ll answer those questions in a bit, but first, we want to answer: Can you buy Doge on Webull?
Yes, you can. In fact, it’s been almost two months since the Dogecoin-Webull partnership began when the online trading platform started to offer Dogecoin beta to its users.
Why Is Dogecoin Cryptocurrency Trading on Webull Important?
Webull (LLC all rights reserved) is considered one of the most reliable and popular cryptocurrency exchange platforms that promote free trading. It is also one of the most respected of its kind because of its past performance. An account with Webull is almost a guarantee that your stocks, money, coins, securities and any other type of funds are safe and accessible at some level at any time. For what it is worth, Webull Financial LLC (all rights reserved) is a member of the New York Stock Exchange.
The same is the case with Coinbase (although, Coinbase only started offering DOGE recently). Another exchange comes in the form of the Robinhood app, which also allows users to buy cryptocurrencies like Bitcoin and Dogecoin.
So, the fact that Webull has added Dogecoin for investors looking to share and trade this cryptocurrency is very important.
How Do I Buy and Sell Dogecoin on Webull?
Given that Dogecoin has increased in value by over 14,000% this year, it is no wonder why so many investors want to buy Dogecoin while it is available on the market.
If you aren’t interested in investing with exchanges like Kraken, Binance or Voyager, then Webull is a great place to do it. The exchange does not hide anything from you, all its financial details are in order, and it offers some of the most in-demand stock and cryptocurrency assets available in the market today. Dogecoin may have started as a joke years ago, but now no bank can ignore it. A lot of hotshot investors even buy it.
You can sign up for an account here.
- To purchase Dogecoin on Webull, you need to go to the main menu and then tap on the Webull symbol.
- Once you tap the link, the website should ask you for your trading password. Input that data.
- Then, click on the button that says “More.” From the new website window, click on “Account.”
- Finally, click on “Crypto Trading services.”
- Once that is done, the website will need you to agree to its terms of service and conditions. You will have to sign with an e-signature.
- Once you submit the signature, the service will note down your request and then review your account. Within a day, you should be ready to invest through the website.
- With your account approved, you only need to input the ticker symbol and then hit the button that says “Trade.”
- Then, choose either “Limit” or “Market” as your order type. (There’s an important distinction between these two options, so make sure you understand what they mean.)
- After that, choose the amount of cash you would like to invest. And then click “Buy.”
In brief, download the app, fund the account you have created (that is, link to your bank or deposit some money), choose the amount of DOGE you want to buy and execute the currency trade.
By executing the trade, we mean searching for the DOGE ticker on the official Webull Crypto platform.
Webull Crypto Is Not the Same as Webull Financial LLC
Both are separate entities. However, you can buy stocks and crypto via any of them. Technically, both store your assets in a different place.
The exchange services do not regulate cryptocurrency. In other words, you have to take more risks when you want to deal in coin cash when compared to ETFs or stocks. All other investment products are usually insured by either the Financial Industry Regulatory Authority (FINRA) or the Securities Investor Protection Corporation (SIPC), or both. Neither covers deposits containing cryptocurrencies.
The website will ask you to “Continue” only after knowing these risks.
Can I Buy Fractional Dogecoin?
Yes, but only when you want to buy Dogecoin. You can’t do the same for anything else than crypto trading.
Without a doubt, you don’t need to buy Doge coins in full. You can buy based on the price rather than the number of coins. For example, you can buy DOGE worth $80 instead of two DOGE coins or four DOGE counts.
Such a feature is useful not only for seasoned crypto investors but also beginner crypto users. However, keep in mind that just because you are buying fractional Dogecoin Webull does not mean there is reduced risk compared to a situation where you are buying whole crypto coins.
You probably won’t need to buy fractional crypto Doge coins since it costs less than half a dollar at this point. But if Dogecoin/DOGE someday reaches the height of other crypto coins such as Bitcoin, which is trading around $34,000 per cryptocurrency coin as of July 9, you may need fractional crypto trading as well.
What’s the Best Way to Sell DOGE?
You sell crypto coin assets on the Webull platform in the same way that you buy them.
Sign in with your account through the platform/app, then take a look at your financial portfolio within the app. Pick out DOGE and click on the button that says “Sell.”
You will have to input other details, such as the dollar amount and market type.
Can You Transfer Dogecoin from Webull?
No. Currently, the cryptocurrency exchange does not allow you to transfer DOGE from your account to a different platform.
The only way forward is to sell your cryptocurrency on Webull and then use that money to buy more Doge on another platform.
Conclusion
Buying crypto currency has become very popular for investors because of online financial platforms such as Coinbase, Binance, Robinhood and other such platforms. All users have to do now is study the data that’s available about a given crypto and then purchase it at a price they find acceptable.
For users who are interested in investing in Dogecoin, Webull Crypto is a great option. Investors should keep in mind that, unlike stocks and securities, cryptocurrencies like Bitcoin and DOGE aren’t a free ride to wealth.
Experienced investors and new users looking forward to investing in DOGE should not hide away from the fact that DOGE has only recently shot up into fame. There is little data to suggest that it will become a less volatile crypto like Bitcoin.
At this point, though, investors should take note of DOGE’s low value and consider it as a crypto experience free of risks that might come with more expensive cryptos.
FAQ: Webull Crypto Trading
What Crypto Can You Buy?
The platform currently supports many digital currencies, including:
- Bitcoin
- Doge
- Bitcoin Cash
- Ethereum
- Ethereum Classic
- XLM
- Litecoin
And many others.
For a complete list, go here.
Is It Safe to Buy Crypto on Webull?
Webull Crypto LLC is very safe. It is as well-reputed as Robinhood and Binance. Of course, even the likes of Robinhood run into problems from time to time.
Is Webull LLC Good for Crypto?
Yes. It is a great platform for not only crypto but also securities, stock and ETFs.
When Is the DOGE Holiday?
The DOGE currency only came into being eight years ago. And while it is not as stable as other securities like bonds, shares, stocks and ETFs, it is a nice start for crypto traders who are new to the business.
The holiday date is April 20.
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