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Exclusive: Webull CEO Talks Dogecoin Trading On 'Power Hour'

April 20, 2021 6:19 pm
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Exclusive: Webull CEO Talks Dogecoin Trading On 'Power Hour'

Webull added Dogecoin (CRYPTO: DOGE) to its list of cryptocurrencies available for trade as a result of customer demand, Webull CEO Anthony Denier said Tuesday on Benzinga's YouTube show "Power Hour."

Related Link: How to Buy Dogecoin (DOGE) on Webull

Dogecoin was the most-requested cryptocurrency from Webull customers, the CEO said. He described the amount of customer requests as a "non-stop tide."

The company has been testing the overwhelmingly popular cryptocurrency and fortifying the system to ensure a smooth release for months, he said. 

The cryptocurrency brings huge volume because of its low price, Denier said. 

Although the volume on Dogecoin has been extremely high, the CEO said Webull has not encountered any problems so far with the rollout.

April 20, an informal cannabis holiday, is being termed "Doge Day" this year.

Webull's original plan did not point to a release on April 20, but as the company got closer to being ready to offer Dogecoin, it began targeting Doge Day for the launch, Denier said.

Related Link: Exclusive: Webull Crypto To Offer Dogecoin To Customers April 20 — Doge Day

The Webull CEO disclosed that he invested about $5,000 in Dogecoin when the company began beta testing the cryptocurrency. 

The Webull Platform: The pricing of cryptocurrency on the Webull Platform may be higher than some other platforms.

"What you see is what you get," the CEO said, adding that the company is completely transparent.

Webull offers one of the lowest fees at 1%, and the company shows the fee upfront, he said. 

All platforms charge a commission on transactions whether they choose to openly disclose the information or not, Denier told Benzinga.

Webull is constantly updating its user interface, adding products and looking to expand its content, the Webull CEO said.

Webull will be releasing the 7.0 version of the platform soon, he said. 

Fractional equity trading is another feature that has been highly requested by Webull customers, Denier said.

He expects that the company will add fractional trading in the early summer, he said. 

$DOGE Price Action: Dogecoin was down 20.92% at 32 cents at last check Tuesday. 

Webull CEO Anthony Denier on Benzinga's "Power Hour" show Tuesday. 

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