How to Buy Bitcoin & Crypto with Webull

Key Takeaway: Webull does not support direct crypto purchases in the UK. Investors interested in buying cryptocurrencies can deposit funds into exchanges that comply with the Financial Conduct Authority (FCA) regulations. 

A recommended platform is eToro, which holds FCA registration and provides access to over 70 crypto assets, plus a variety of stocks and ETFs. Users can easily deposit GBP via bank transfers, Faster Payments, or debit card transactions.

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Can I Buy Crypto with Webull?

Yes, Webull supports cryptocurrency trading through its dedicated crypto arm, Webull Pay. Available in the UK, this service offers direct access to a few major cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. 

The downsides include a limited selection of digital assets, a spread markup of 2%, and the inability to withdraw crypto purchased through Webull to external wallets. Your holdings remain custodial, locked within the Webull ecosystem, meaning you can't self-custody via hardware wallets.

If you require direct withdrawals, hardware wallet options, or lower fees, a fully regulated cryptocurrency exchange in the UK is worth considering. 

How to Buy Bitcoin with Webull

Webull users can access crypto trading directly through Webull Pay. While this provides convenience for existing clients, there are key limitations, such as a restricted coin selection, high fees, and no option for withdrawing crypto to external wallets.

If you're looking for greater flexibility and a wider variety of digital assets, eToro is a recommended alternative. Fully registered with the Financial Conduct Authority (FCA), eToro supports over 70 cryptocurrencies to trade with low fees.

Here’s a quick guide to buying Bitcoin with eToro:

1. Create an Account: Visit eToro’s official site, click “Join Now,” and complete their streamlined Know Your Customer (KYC) verification.
2. Add Funds: Log in to your new eToro account, click "Deposit Funds," select your preferred currency (e.g., GBP), and initiate your deposit.
3. Locate Bitcoin (BTC): Once the deposit is credited, use eToro's intuitive search feature to find "Bitcoin" or type the ticker "BTC."
4. Complete Your Purchase: Enter the investment amount, double-check the details carefully, and confirm the transaction to securely purchase Bitcoin.

Crypto Trading Fees

British investors exploring crypto investments through Webull may find its fees expensive. Many opt instead for regulated platforms like eToro, which is known for its greater flexibility and affordability. Here’s a transparent breakdown of eToro’s fee structure:

• Trading Fees: eToro applies a transparent 1% fee on crypto purchases and sales. This fee is incorporated directly into the price you see when executing trades.
• Market Spread: Unlike exchanges with variable spreads, eToro explicitly includes the 1% trading fee upfront. Though market fluctuations naturally impact asset prices, eToro does not impose additional hidden spreads.
• Withdrawal Fees: When withdrawing your GBP funds from eToro back to your UK bank account, no extra fees or hidden charges apply.

With straightforward fees and no hidden withdrawal costs, eToro offers Webull users a transparent alternative to enhance their cryptocurrency investment strategies.

Best GBP Deposit Methods for Webull

eToro is a reliable option with flexible GBP deposit methods for Webull customers, offering the following convenient choices:

• Debit Card Deposits: eToro supports instant and secure GBP deposits via UK-issued debit cards. This method provides swift execution and conveniently handles individual transactions up to approximately £30,000.
• Faster Payments Transfers: Using the Faster Payments network, GBP transfers reach your eToro account within minutes. There are no additional fees for deposits, and the integration process is seamless.
• eToro Money Service: Investors conducting substantial transactions can utilise the eToro Money option, specifically designed for larger GBP deposits up to £400,000.

When you decide to sell your crypto and convert back into GBP, eToro simplifies the withdrawal process, typically without charging additional fees, ensuring your money quickly reaches your linked UK bank account.

What is Webull?

Webull is a US-regulated, commission‑free brokerage founded in 2016 that offers a sleek trading experience across web, desktop, and mobile, supporting stocks, ETFs, options, futures, and cryptocurrencies. 

It provides advanced tools like real-time quotes, technical charting, paper‑trading, extended hours, and fractional share investing with no minimum deposit. Cryptocurrency trading, handled via Webull Pay, includes major coins like Bitcoin and Ethereum, though withdrawals are limited to selling into cash.

Conclusion

Webull offers a simple route into crypto trading for existing users, yet its restrictions on asset choice, external wallet support, and higher fees mean it’s less ideal for active or serious crypto investors. 

If your priority is greater flexibility, lower fees, and clear pricing, choosing a regulated exchange like eToro will likely provide a more beneficial and affordable experience.