What is a crypto wallet? Upcoming Transfers – Webull

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Things to know about Crypto Wallet before using it:

1. What is a crypto wallet?

A Crypto wallet is a digital wallet in which you can store your crypto assets, for example Bitcoin. The main types of wallets are paper wallets, hardware wallets and software wallets.

2. The benefits of a crypto wallet

Instead of fiat currency, cryptocurrencies are decentralized digital assets. You can transfer your coins without going through a bank as an intermediary, which can make your transfer easier. You can send it to your friend’s crypto wallet directly in any part of the world with just one click. All blockchain data is encrypted; you cannot trace the name of the recipient of a transaction, even if you know the address of the receipt code. With anonymity, your privacy is protected.

3. The cost and the risks

Risks: The addresses of each crypto-currency are different; you risk losing your assets if you enter the wrong wallet address. Be sure to use the correct receive/send address.

Cost: Webull charges 0 commission on the transfer and release of your coins. The only additional cost is the network fee. The network charge rate is not fixed for each transfer; you will be notified at the final confirmation stage for each transfer you initiate.

4. Currently, Webull only supports inbound and outbound transfer of BTC, LTC and BCH. There will be more to come in the future!

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Begin!

1. Where to start a transfer on Webull?

crypto details page transfer page crypto positions page

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2. How to make money

If you want to transfer coins to Webull, you need to initiate the request at the end of the wallet delivery page. Webull will offer you a receiving address code. Copy or scan the code to enter your Webull address.

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3. How to get out

You will need to enter your trading password first and complete two-factor authentication if you have not initiated any crypto transfers in the past.

Once you have completed the two-factor authentication, you can proceed to the “Send” page to enter the transfer amount you want.

4. How to check transfer history

On the history page, you can check the records and status of your transfer.

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FAQs

1. How do we secure your transfer?

We offer two-factor authentication to improve the security of our customers’ accounts. Each incoming or outgoing transfer attempt will require a random verification code created in the Google Authenticator app. Before entering the 6-digit verification code each time, you will need to confirm your trading password.

2. What is the network expense ratio?

Network fees for transferring crypto change every 5 minutes to ensure your crypto can be transferred successfully. You can set an acceptable network fee limit before transferring coins. If the network fee ratio does not exceed the value you set, you will confirm your transfer without confirmation. The modification is only valid for the current transfer.

3. What is Google Authentication Code?

Each investor will need to enter the verification code from the Google Authenticator app to complete the two-factor authentication and confirm the transfer request. Please download the Google Authenticator and add the associated account to verify the 6-digit code based on the guide page.

4. I’m using a new mobile, how do I reset the two-factor authentication to receive my verification code?

At the bottom of the page to enter the verification code, you can click “Verification code not available” to reset.

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5. What can we choose to transfer in and out?

Currently we support the transfer of cryptocurrencies. You can choose to transfer by amount or quantity of coins. We do not support NFT transfer.

6. Transfer limit:

Single transfer coin amount $10 to $2,999 Daily transfer coin amount ≤ $5,000 Daily total transfer ≤ 10 times

7. Who can transfer coins in and out?

If you have successfully requested access to crypto trading, you can use the Wallet Transfer feature.

8. Can I transfer crypto to and from my account using Webull desktop or website?

Currently encryption transfer is only available for mobile apps.‌

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