Alexis Kestler
Have you ever tried to buy Bitcoin or other cryptocurrencies on Webull only to be greeted by the dreaded “Insufficient Crypto Buying Power” message? If so, this detailed guide will walk you through exactly how to troubleshoot and resolve insufficient crypto buying power errors on Webull.
By the end of this post, you’ll understand what’s causing the insufficient buying power issue on Webull when you try to trade crypto, the steps to fix it, and tips to avoid it happening again in the future. Let’s dive in!
What Does “Insufficient Crypto Buying Power” Mean on Webull?
First things first, what exactly does the “Insufficient Crypto Buying Power” notice mean when you attempt to place a crypto order on the Webull trading platform or app?
Essentially, this error message indicates that your Webull account does not currently have enough available settled cash to complete the cryptocurrency purchase you are trying to make.
Webull requires users to have adequate buying power in order to trade crypto on their platform. Your withdrawable cash balance must be sufficient to cover any crypto buy orders you submit.
If your account does not have enough cleared funds available, Webull will reject the transaction and display the “Insufficient Crypto Buying Power” alert instead.
Key Reasons for Insufficient Crypto Buying Power on Webull
There are a variety of reasons why you may be encountering insufficient crypto buying power errors when attempting to trade digital currencies on Webull such as Bitcoin, Ethereum, Litecoin, Dogecoin, and more. Here are some of the most common causes:
Pending Deposits
If you recently submitted a deposit into your Webull account, but the money is still pending and has not fully cleared yet, those funds will not count toward your crypto trading buying power just yet.
Any bank transfers, wire transfers, or ACH deposits need to fully process and settle into your account first before they can be used for cryptocurrency orders.
Recently Transferred Funds
Similarly, even after a Webull deposit changes from pending to completed, the funds still require a few additional business days to fully “settle” in your account.
Recently transferred money needs to clear for 2-3 trading days before it will be available as useable buying power for crypto trading activities.
Low Account Value
Per Webull’s crypto trading policies, you need a minimum of $2,000 in settled cash in your account to enable cryptocurrency transactions.
If your total Webull account value is under the $2k minimum, you simply won’t have enough crypto buying power yet.
Open Crypto Orders
Here’s a little known fact: having pending open buy orders for cryptocurrencies can temporarily restrict the buying power available for additional crypto purchases.
So existing crypto orders that are still processing can temporarily reduce your usable crypto buying power until those transactions fully complete.
Changed Bank Account Details
If you recently changed your banking details, such as your account or routing numbers, but have not yet updated that info within your Webull account, it can interfere with depositing funds and thus buying power.
Keeping your latest bank account information up-to-date in Webull is key for seamless transfers of cash.
Webull Service Disruptions
Occasional temporary outages of Webull’s mobile app or web trading platform, as well as any connectivity issues on your own internet network, can also contribute to sporadic insufficient buying power situations.
Webull Crypto Trading Access Not Enabled
Believe it or not, Webull actually requires users to specifically enable cryptocurrency trading on their platforms. This is not on by default for every account.
If your Webull account does not have crypto trading activated, it could display insufficient buying power errors when trying to trade.
Bugs or Glitches
Finally, while rare, sporadic bugs and glitches related to Webull’s crypto trading functionality specifically could also be to blame for unexpected insufficient crypto buying power problems.
As you can see, there are a number of potential reasons why Webull may reject your crypto trades due to insufficient buying power. The good news is there are also solutions for all of these…
How to Fix Insufficient Crypto Buying Power on Webull
If you find yourself faced with frustrating insufficient crypto buying power messages on Webull, here are 8 troubleshooting tips to help identify and resolve the problem:
1. Wait for Pending Deposits to Clear
If you recently submitted a deposit, first make sure it has fully completed, cleared, and settled into your Webull account. Give any pending or recently completed transfers 2-3 trading days to fully settle before attempting to trade crypto.
2. Increase Your Account Value
If your account value is below Webull’s $2,000 minimum for crypto trading eligibility, consider depositing additional funds to surpass this account threshold.
3. Cancel Existing Crypto Buy Orders
Check your Webull app for any pending cryptocurrency buy orders and cancel them if needed to free up your available crypto buying power. Eliminate other open orders eating into your funds.
4. Update Your Bank Account Details
If you changed bank accounts, update your latest account and routing numbers under the Banking Accounts section of Webull’s profile settings so deposits can process smoothly.
5. Verify Webull Server Status
Check Webull’s Twitter or status page to make sure there are no platform outages, and confirm your own internet connection is stable.
6. Re-Enable Crypto Trading Access
Head to the Trading Accounts section of your Webull account settings, go to Crypto Trading, and make sure access is enabled. Enable it if disabled.
7. Contact Webull Customer Support
Reach out to Webull’s 24/7 customer support team for additional troubleshooting assistance if you still can’t buy crypto after trying other steps.
8. Update Your Webull App
Make sure to keep the Webull mobile and web apps updated to the latest versions to prevent any bugs that may be fixed in newer releases.
Here are some step-by-step examples of implementing a few of these solutions:
Cancel existing crypto orders
- Open up the Webull mobile app and tap the Orders tab on the bottom
- Select Crypto Orders
- Identify any pending buy orders and tap Cancel to remove them
- This will free up your crypto buying power
Enable crypto trading access
- Tap your profile icon in the Webull app
- Go to Account > Trading Account
- Select Crypto Trading and toggle status to Enabled
Tips to Avoid Insufficient Crypto Buying Power
Here are some handy tips to help prevent running into crypto buying power errors on Webull in the first place:
- Always allow 2-3 trading days for transferred funds to settle before placing crypto orders
- Maintain at least $2,000 settled cash as a buffer for crypto trading eligibility
- Close out open crypto buy orders before placing additional ones
- Update Webull promptly if you change bank accounts
- Use a fast, reliable internet connection for stability
- Periodically check your crypto trading access is still enabled
- Keep the Webull app up-to-date in case fixes are released
How Does Webull’s Crypto Offering Compare?
While Webull has introduced crypto trading capabilities for its users, it’s worth comparing its features versus other leading crypto platforms.
When it comes to buying power and available cryptos, Webull has a $2k minimum and currently supports trading in Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin.
In contrast, a platform like Coinbase has no minimum balance, over 50 tradable cryptos, fractional trading, staking rewards, debit card integration, and more robust trading features.
So while handy for basic crypto needs, active crypto traders may prefer an ecosytem with more coins, wallet connectivity, DeFi protocols, NFT capabilities, and advanced trading tools.
Can You Trade Crypto on Webull 24/7?
Unlike the traditional equities and options trading on Webull, which is limited to market hours, cryptocurrency trading is available on Webull 24/7. This follows the nature of the crypto market itself which is active around the clock.
So if you run into insufficient crypto buying power issues during the evening or weekends when the stock market is closed, Webull’s customer support team will still be available and able to assist you.
Final Thoughts
Checking for insufficient crypto buying power messages doesn’t have to be a scary, frustrating process on Webull. Now that you know the likely reasons for the error, along with actionable troubleshooting steps, you can confidently get back to trading digital currencies.
The key takeaways are allowing time for transfers to settle, maintaining account minimums, closing existing orders first, keeping your bank details current, and contacting Webull support if needed.
With this handy guide, you have all the tools to effectively resolve insufficient crypto buying power problems on Webull. Here’s to smooth, successful crypto trading!
Frequently Asked Questions
What is the minimum balance for crypto trading on Webull?
Webull currently requires a minimum balance of $2,000 settled cash in your account to unlock crypto trading capabilities.
How long do deposit transfers take to settle in my Webull account?
Bank wire transfers and ACH transfers typically need around 2-3 business days after initiating the deposit to fully settle in your Webull account balance.
Can I trade crypto on Webull on weekends and evenings?
Yes, unlike stock trading, cryptocurrency trading is available 24/7 on Webull, outside of just regular market hours.
Who can I contact for support with Webull crypto issues?
Reach out to Webull’s responsive 24/7 customer support team by phone, email, or chat if you need help troubleshooting insufficient crypto buying power errors.
What cryptocurrencies can I trade on Webull?
As of 2022, Webull supports trading for top cryptocurrencies like Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Dogecoin, with a total of 5 coins available.
