The American trading platform "Webull" has launched cryptocurrency trading services in Australia, giving users access to over 240 digital assets through the "Coinbase Prime" platform. This step is part of the company's global expansion in the digital assets sector, following the relaunch of the service in the United States.
Industry experts expect this move to increase competition in the Australian exchange market, which is characterized by high fees compared to global markets, where in some cases, fees can be double those imposed on trading major currencies like Bitcoin and Ethereum.
This competition is expected to push local exchanges to reduce fees and improve their services, while also expanding the range of options available to Australian investors. However, experts point out that success depends on building trust and addressing regulatory challenges, as well as the need for investors to understand the risks associated with holding assets on centralized platforms.
"Webull" supports cryptocurrency trading through various traditional investment structures, including retirement funds and trust funds, while providing customer support around the clock.