Wells Fargo cryptocurrencies trading. Can you buy crypto (Bitcoin, Ethereum, and Dogecoin) at Wells Fargo Bank?

Can You Buy Crypto on Wells Fargo?

A brokerage account at WellsTrade opens up several ways to tap into the growing world of cryptocurrencies. Our research reveals the details.

First Is Crypto-Related Stocks on Wells Fargo

Cryptocurrencies do not trade in a vacuum. As with securities, a large infrastructure of resources and technologies is needed. Many fintech companies are involved in creating this environment, and some of them, although not all, have stocks trading either over-the-counter or on the major exchanges. WellsTrade offers trading in these stocks.

A good way to look for these stocks is using WellsTrade’s equity screener. This tool can be found under the Research tab in the top main menu. Once the search wizard is pulled up, the Industry category is a good place to focus on. There are several potential choices that could be used in a search for crypto-related equities. Examples we found include:

- Computer Hardware
- Electronic Components
- Information Technology Services
- Semiconductor Equipment & Materials
- Software – Application
- Software - Infrastructure

One stock we found in our scan is Coinbase. This is a cryptocurrency exchange platform where customers can buy, sell, and hold a variety of digital currencies. Obviously, the company is closely connected to the new mode of money. The company’s shares trade on the Nasdaq with the ticker symbol COIN.

Wells Fargo Crypto

There are several ratings for Coinbase on WellsTrade’s profile for the company. Wells Fargo Securities gives an underweight rating to it, while Morningstar gives it 4 stars out of 5.

WellsTrade clients pay nothing for trades of stocks priced above $1.00 (except for exchange and regulatory fees on the sell side).

Second Is Crypto Funds on Wells Fargo

In addition to every stock on the major U.S. exchanges, WellsTrade also offers every ETF on those exchanges. There is a growing number of funds that are investing in cryptocurrency to one extent or another, in one way or another. Some funds hold stocks of companies engaged in some type of crypto service, while others will invest in crypto futures contracts.

WellsTrade’s ETF screener will be found on the same screeners page underneath the Research tab. Using this search engine, we found CRPT. This is the First Trust SkyBridge Crypto Industry and Digital Economy ETF. It holds stocks of companies that are closely involved with the crypto industry. Companies include PayPal, Block, Coinbase, and Riot Platforms.

WellsTrade’s profile for the SkyBridge fund doesn’t have much information on the security. No wonder, it only has net assets of $14 million and an inception date of 2021, so this is a small and new fund. But it is tradable.

Like stock trades, ETF transactions at WellsTrade are commission-free.

Third Is Crypto Options on Wells Fargo

Many of the crypto securities available on the WellsTrade platform have option contracts that trade on them. These securities present yet another method for WellsTrade customers to gain exposure to the burgeoning crypto market.

For the stock Riot Platforms (the same company we saw in the SkyBridge fund), we found tens of thousands of contracts available for trading on the WellsTrade website. It’s easy to find these securities. Simply head over to the stock’s profile and look for “Option Chain” in the main menu. Clicking on this link will generate a list of tradable options. Within the chain, each contract has a plus sign that will expand the contract to show more details, including the day’s bid-ask spread. This window will have a trade button. Click on this button to pull up the option order ticket.

Only calls and puts can be traded on the WellsTrade website (or mobile app). There are no integrated spreads.

Option trades cost 75 cents per contract plus a base charge of $5.95.

Direct Trading of Coins on Wells Fargo

Unfortunately, WellsTrade does not offer trading in actual coins themselves. For this, another broker will have to be found.

Enter Webull

Direct trading of actual coins will be found at Webull. In fact, the brokerage firm has a long list of coins—currently, it stands at 44. In addition to the expected majors like bitcoin and Ether, there are some really unusual ones like:

  • Aave (AAVE)
  • Algorand (ALGO)
  • Apecoin (APE)
  • Avalanche (AVA)
  • BAT (BAT)
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Cardano (ADA)
  • Chainlink (LINK)
  • Chiliz (CHZ)
  • Cosmos (ATOM)
  • Crypto.com Coin (CRO)
  • Curve DAO (CRV)
  • Dash (DASH)
  • Decentraland (MANA)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Dogecoin (DOGE)
  • Fantom (FTM)
  • Gala (GALA)
  • Litecoin (LTC)
  • Loopring (LRC)
  • Maker (MKR)
  • Polygon (MATIC)
  • REN (REN)
  • Solana (SOL)
  • Stella Lumens (XLM)
  • Sushi (SUSH)
  • Stella Lumens (XLM)
  • Terra (LUNA)
  • Tezos(XTZ)
  • The Graph (GRT)
  • UNI (UNI)
  • USD Coin (USDC)
  • XLM (XLM)
  • yearn.finance (YFI)
  • Zcash (ZEC)

These coins can be traded at Webull nearly 24 hours a day, 7 days a week, 365 days a year. The broker does have to take a break each day for routine software upgrades and such, so it’s not quite 24/7/365. But the total time is much larger than what WellsTrade customers will get for securities trading.

Buy bitcoin on Wells Fargo

Although there are no commissions on crypto trades at Webull, there is a 1% spread on either side of a trade. Although this is a disadvantage compared to the commission schedule for most stocks and ETFs at WellsTrade, crypto trades at Webull have something that WellsTrade doesn’t offer: whole-dollar investing.

A cryptocurrency can be purchased with just $1. Webull’s very good software, which includes a mobile app, desktop program, and browser platform, can also submit orders in whole coins, if desired. The desktop system and mobile app also have option spread trading, which WellsTrade’s software lacks, and there are no commissions at Webull on option trades.

WeBull Buy Bitcoin

One final resource that crypto traders at Webull have that WellsTrade customers don’t is social networking. Every coin (and every security) on Webull’s mobile app has a digital bulletin board that allows the broker’s customers to discuss the asset (look for the Feeds tab on the asset’s profile).

Learn more about Webull crypto investing...

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Updated on 1/28/2023.


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