As we know, WeBull is a prevalent stock trading platform. For users of this application, we will discuss more closely the error that occurs that causes the error Webull Insufficient Crypto Buying Power. Then we will also explain how to solve this problem so that you have no trouble and your trading is safe.
When your WeBull account appears to have an “Insufficient Crypto Buying Power” problem, this is most likely a problem with your balance. There may not be enough cash in your account for the crypto you want to buy. And as a result, the process of your purchase transaction cannot be completed. And it may be delayed until the balance is sufficient.
Lately, crypto and stock trading have become popular among both old and new investors. They are competing to enter this world because of the ease of trading only with applications such as WeBull. You need to download it and then create an account. Then you can use it easily.
Other well-known trading applications are Robinhood, Acorn, eToro, and many others. This is due to the rapid development of technology so that traders can trade efficiently anywhere and anytime through their accounts on their respective trading applications. Therefore stock and crypto trends are increasingly popular in society.
Does This Process Take A Very Long Time?
You should pay attention to ensuring you have enough cash in your account to transact various trades on the platform. When you want to transfer or top up your balance from a bank account to your WeBull account, it takes a long time. This process takes 3-5 working days to complete.
The length of time for this process is due to ensure the security of user data. The balance between your WeBull account and your bank account must match to avoid fraud. Crypto trading is still relatively new, many things still need to be addressed, and it takes a long process. After the money transfer process is complete, you can buy cryptocurrency.
Unable to buy anything despite having enough Buying Power
When you have made a purchase, but then it was delayed. All you can do is cancel your order. You don’t have to worry about losing your money. After you have made the cancellation process, Webull will delete your order.
So that in your account, there is no more crypto buying power in suspension, and your account remains safe. What is different from WeBull is that there is no crypto transfer system. And this may cause other problems for users.
If you have previously used another trading application and want to transfer your crypto to a Webull account, you will not be able to. WeBull does not accumulate the previous crypto. Your crypto will not increase.
You can still switch applications to WeBull, but in your previous trading application, your crypto must first be liquidated into money in your account. Then you can buy cryptocurrency on WeBull through your account. So, in this process, you cannot transfer crypto directly to your WeBull account, so you have to buy it instantly.
Here are some possible reasons why you have enough money for a transaction but can’t make a purchase:
The deposit process hasn’t been completed yet
After you have made a purchase transaction and have passed the 3-5 or even one-week time limit waiting for the process to complete. However, your deposit status is still not complete.
- You may be confused about this. But the deposit process to your WeBull account is complete, but your funds are not absolute. You don’t need to worry because this 3-5 day processing period is only the completion of your deposit. It will take some more time.
- For example, if you place an order on June 1, the time range is between June 4 and June 6, and your order must have a completed status in your WeBull account. This is the average time of your deposit.
- After that, there is still about one day, from June 5 to June 7, and your completed deposit will change status to a completed purchase. WeBull will still need additional time.
- This is the ideal timeframe because you make transactions via bank transfer. The average bank transfer uses the ACH transfer method, so before you entirely use your deposit, the deposit must be in your account for one trading week.
You can’t use temporary or provisional credit to buy any cryptocurrencies
If you try to deposit your bank account to your WeBull account, you will receive something as your temporary credit token.
WeBull will give you half the credit deposit to trade on this application, so you can start selling even if your balance is insufficient. However, this does not apply to crypto trading. In crypto trading, you cannot use a credit system. Before that, the purchase transaction must be completed
WeBull does not enforce a credit system on crypto because it wants this transaction to run smoothly between the two parties. WeBull also wants to prevent the possibility of bad credit from its users. So that your account is valid and the balance is enough to buy.
The prices have changed
When you are trying to buy cryptocurrency and you know you had sufficient purchasing power, but suddenly it turned out you don’t, maybe you would think, how did this happen? This could be due to price changes. Perhaps when you are trying to buy, the price changes, and you have not completed the purchase at the previous price.
The status “Inadequate Crypto Buying Power” will appear when this happens. If the price changes on your order and you still have the option to cancel, then you can cancel the order. But if you still want to buy and don’t want to cancel it, you must add the purchase balance.
You Must Enable The ‘Crypto Trading’ Feature In The WeBull App
In the WeBull application, not all menu lists can fill all available purchasing and trading options because you must first have access by activating some features. You must enable the ‘Crypto Trading’ feature.
Even if you have enough funds to transact on WeBull but haven’t activated ‘Crypto trading,’ you still won’t be able to. You must have the privilege to trade cryptocurrency first. WeBull restricts this because it wants to know the limit of buying shares its users can afford.
Steps to enable ‘Crypto Trading’ in the WeBull App
- Previously make sure your WeBull app is in the latest version.
- Open up your app and click on the WeBull icon.
- Then click the ‘More’ button and select ‘Crypto Trading’ to activate this feature.
When you have finished registering, you will receive a notification from WeBull that you are successful and can start trading cryptocurrencies. After that, please transact the purchase of cryptocurrency. But before that, the transfer process from your account must be successful.