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Tuesday, January 18, 2022

Best Cryptocurrencies on Webull • Ranked • Benzinga

Wow! Just look at that market cap. The cryptocurrency market is topping $2 trillion at the time of writing, and it doesn’t look like it’s going to stop here. Having already touched $2.5 trillion earlier this year, investors are hoping the current upswing will lead the market to a new all-time-high. And it just might. 

Alongside Bitcoin (BTC) and Ethereum (ETH), the crypto market has made terrific gains for investors this year as top altcoin names like Dogecoin (DOGE) make their way into the mainstream lexicon. Finding a reputable exchange that carries it, however, can take some research and patience.

Experienced traders often open accounts on multiple exchanges to increase their selection of altcoin offerings. But picking a reputable exchange in this growing industry can be daunting. Webull provides a 1-stop-shop for stocks, options, exchange-traded funds (ETFs) and cryptocurrencies.

With Webull, traders of all experience levels can start a crypto portfolio. Webull has created a fantastic trading platform for both novice and experienced traders. With advanced charting and analysis tools, Webull stands out as a leading exchange for tech savvy investors. 

So what are the best cryptocurrencies on Webull? And what’s the real difference between Bitcoin and the rest of the altcoins available on the platform?

Bitcoin Versus Altcoins

Bitcoin stands out prominently as the world’s 1st and largest cryptocurrency. Taking up more than 43% of the total crypto market, Bitcoin remains the safest choice for investors seeking long-term gains with minimal relative risk.

With that said, altcoins have absolutely exploded this year, returning monstrous gains for the holders of a few key currencies. Projects like Dogecoin and Cardano (ADA) have stood out from the pack with 40% gains this last week alone.

Of course, trading altcoins carries a much higher risk. But with high risk comes high reward. Diversifying your holdings into Bitcoin and a number of other top-tier altcoins is a great investment strategy.

It’s good to keep in mind that Bitcoin operates on its own blockchain. Many altcoins, however,  run on top of the Ethereum blockchain. While these ERC-20 tokens represent unique companies, the prices of the currencies often correlate with one another and the native token of their adopted platforms — in this case ETH.  

Best Cryptocurrencies on Webull

For any exchange, a diverse offering of cryptocurrencies will bring more customers to the table. And though many 1st-time buyers of cryptocurrency stick to Bitcoin exclusively, savvy traders are looking to purchase a number of high-risk, high-reward altcoins. 

Indeed, holding a diversity of cryptocurrencies in your portfolio has proven a solid investment strategy. Still, avoiding overpriced assets is key when choosing from the selection offered on any exchange. After carefully analysing the price and utility of each coin on the platform, the following list represents the best cryptocurrencies on Webull:

  1. Bitcoin (BTC) has pulled back from $48,000 recently, giving prospective buyers a great opportunity to get in on this original blockchain currency. The undisputed leader of the crypto universe, Bitcoin won’t stay down for long.
  2. Ethereum (ETH) has made huge strides toward transitioning into a proof-of-stake blockchain. The undisputed leader of the smart contract space, ETH 2.0 promises to bring the No. 2 cryptocurrency by market cap into a cleaner, faster future. ETH is sitting just under $3,200 at the time of writing. 
  3. Dogecoin (DOGE) takes 3rd on this list of the best cryptocurrencies on Webull. With a number of celebrity endorsements, name recognition alone can propel this meme coin to the moon. Dogecoin is currently trading near $0.33. The Shiba Inu-themed cryptocurrency recently fell dramatically from a high of $0.72, coinciding with Elon Musk’s appearance on Saturday Night Live.
  4. Cardano (ADA) has announced its blockchain platform will finally accept smart contracts by Sept. 12. The potential exists for Cardano to take market share from Ethereum in the near future should the Alonzo hard fork happen on schedule. ADA is trading near $2.08 at the time of writing. 
  5. Stellar (XLM) came in last but not least on this short list of the best cryptocurrencies on Webull. A solid performing asset with years of experience in the altcoin space, XLM is trading near $0.37 at the time of writing, having increased more than 23% in the last week.

Best For

Intermediate Traders and Investors

Commissions

$0

Account Min

$0

1 Minute Review

Webull, founded in 2017, is a mobile app-based brokerage that features commission-free stock and exchange-traded fund (ETF) trading. It’s regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

Webull offers active traders technical indicators, economic calendars, ratings from research agencies, margin trading and short-selling. Webull’s trading platform is designed for intermediate and experienced traders, although beginning traders can also benefit.

Webull is widely considered one of the best Robinhood alternatives.

Best For
  • Active traders
  • Intermediate traders
  • Advanced traders
Pros
  • Commission-free trading in over 5,000 different stocks and ETFs
  • No account maintenance fees or software platform fees
  • No charges to open and maintain an account
  • Leverage of 4:1 on margin trades made the same day and leverage of 2:1 on trades held overnight
  • Intuitive trading platform with technical and fundamental analysis tools
Cons
  • Does not support trading in mutual funds, bonds or OTC stocks

Cryptocurrencies You’re Missing out on

There are a few top-tier cryptocurrency projects missing from Webull’s offering. These altcoins include Polkadot (DOT), Solano (SOL) and Chainlink (LINK). Both Polkadot and Solana are smart contract enabled blockchains that compete with Ethereum and Cardano, both of which have multi-billion dollar market capitalizations. Chainlink is extremely promising as well, as it aims to integrate real-world data to blockchains. Luckily, each of these is available on Coinbase as well as a few other exchanges.

Commissions

Account Min

$0

1 Minute Review

Coinbase is one of the Internet’s largest cryptocurrency trading platforms. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs. 

You can even earn cryptocurrency rewards through Coinbase’s unique Coinbase Earn feature. More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality.

Though Coinbase doesn’t offer the most affordable pricing or the lowest fees, its simple platform is easy enough for complete beginners to master in as little as a single trade.

Best For
  • New cryptocurrency traders
  • Cryptocurrency traders interested in major pairs
  • Cryptocurrency traders interested in a simple platform
Pros
  • Simple platform is easy to operate
  • Comprehensive mobile app mirrors desktop functionality
  • Coinbase Earn feature rewards you with crypto for learning about available coins
Cons
  • Higher fees than competitors

Commissions

. 25% or less

Account Min

0.00001 BTC

1 Minute Review

Gemini is a cryptocurrency exchange and custodian that offers investors access to 26 coins and tokens. Founded in the US, Gemini is expanding globally, in particular into Europe and Asia. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x.

Gemini is 1 of the only brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors might appreciate all the tools that come with ActiveTrader. 

In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Learn more about what Gemini can do for you in our review.

Best For
  • New investors looking for a simple mobile and web app
  • Experienced investors who need a more advanced platform with more tools
  • Users looking for a 1-stop-shop to buy, sell and store all of their coins
Pros
  • Easy and quick signups — can get started in as little as a few minutes
  • Multitude of platforms to accommodate traders of all skill levels
  • Hot wallets include insurance to protect your from theft and hacking attempts
Cons
  • Charges both a commission and a convenience fee for users buying and selling through the desktop or mobile app

Commissions

FREE

Account Min

$10.00 USD

1 Minute Review

Voyager is a leading name in the sphere of cryptocurrency investing, giving you access to over 50 tokens and coins. Buy, sell and swap assets using Voyager Crypto’s simple mobile platform available as a free download for iOS and Android users. 

When you invest through Voyager, you’ll pay nothing in commissions, which is a major benefit when compared to other cryptocurrency brokers. Voyager is also one of the only brokers we’ve seen that allows users to earn interest on their crypto investments. 

Though the broker could do more to improve its customer service, it’s an excellent option for beginner investors and seasoned professionals alike.

Best For
  • Cryptocurrency investors looking for a wide selection of supported projects.
  • Investors who prefer mobile trading.
  • Anyone interested in earning interest on their crypto investments.
Pros
  • Simple, straightforward and intuitive mobile platform
  • Wealth of investment opportunities
  • Allows users to earn interest on select crypto investments
Cons
  • Only available for mobile users — no desktop platform
  • Limited routes to contact customer service team

Store Your Crypto Safely

Whichever exchange you decide to use, you’re going to need to find a way to store your crypto safely. Whether you decide to buy a cold storage wallet like Ledger or a software wallet like Coinbase offers, taking full ownership of your cryptocurrency requires you to move it off of the exchange after your purchase. 

Don’t forget to keep your passphrase and private keys safely tucked away. With Ledger, your  private keys are stored on the device. 

Cryptocurrency Price Movements

Cryptocurrency prices have calmed some after experiencing enormous gains last week. Settling briefly, the market looks poised to accept a new tranche of support as the investing world continues to look for creative ways to hedge against the dollar. With market participation increasing and top-tier altcoins becoming household names, many investors are preparing for a massive influx of fiat into the space.

Bitcoin is holding steady, hovering around $46,500 at the time of writing. While altcoins have stolen the headlines as of late, the cryptocurrency world is expecting Bitcoin to explode higher in the coming months as institutions invest further into the decentralized economy.    

Other Cryptocurrency Exchanges Available in the US

Alongside the growth of blockchain companies, traditional and decentralized exchanges (DEXs) offering cryptocurrencies have become readily available to U.S, consumers. While the most popular option is likely Coinbase, another great option is Voyager.  

Benzinga crafted a specific methodology to rank cryptocurrency exchanges and tools. We prioritized platforms based on offerings, pricing and promotions, customer service, mobile app, user experience and benefits, and security. To see a comprehensive breakdown of our methodology, please visit see our Cryptocurrency Methodology page.

Gemini builds crypto products to help you buy, sell, and store your bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and access all the tools you need to understand the crypto market and start investing, all through one clear, attractive interface. Gemini Crypto Platform offers excellent account management options. You can manage your account at a glance, view your account balance 24-hour changes and percent changes. Get started with Gemini now.

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