I don't want to talk about Wattpad because it is famous, many sites have written about it.
After I have been experienced Webnovel, I decide to write about this base on my own involvement as an author.
If you are newbie or you want to try Webnovel, I mean as author, you should read below content in detail - because there are few things Webnovel is different from Wattpad and other fiction platforms.
1. Only 20 books
Wattpad allows you to publish about 200 books, but Webnovel gives you space only for 20 books. When you finish 20 books, you cannot add anymore. One way you can solve is to open new account.
However, numbers of chapter are similar amount to Wattpad. In each book, you can write thousands of chapters.
2. No button to delete book
If you full your space with 20 books, then you think you want to write more, and you want to delete few stories to get space for new books, sorry, this does not work because Webnovel does not have 'delete button'.
One thing you can do is to change your existed book to be new book. But there is some trouble. See in #6.
3. Your pen name and title of story cannot be put
It is usually happened like on other fiction's platforms.
For example, your name is Jacob and you don't want to use your real name. You decide to use pen name, Dragon. However, the name can be already taken; therefore, you have to think of few pen names before you sign up.
Same as username/pen name, title of story can be taken also. It means you have to prepare few titles for your one book before you upload.
4. Cannot change type
No delete button and no change type button as well.
Webnovel has few types that you can assign your book. Two big types are novel and fanfiction.
You have to be careful when you choose type for your book. Whether you select novel or fanfiction, you cannot change/edit. It means forever. Even the staff cannot help you.
And I want to inform you, if you put your book as fanfiction, you cannot monetize it.
So, please choose carefully.
5. Your book will be shown if it contains 4,000 words
There are two mains page. One is your profile and one is your dashboard 'Inkstone' - where you can write and manage your content.
Book that you write has to click 'publish' then it will show on your profile. It is where the audiences can find what are your stuff, but the book will be shown on that profile page if you write 4,000 words. In case your word is lower than 4,000, your book will be hidden. It does not lose, it just does not show up on your profile page, and audience is hard to find out about it.
Nowadays, I am not sure if it is still needed 4,000 words or more.
So, if you are newbie on Webnovel, you should prepare your first upload five chapters with each chapter has 2,000 words.
6. Don't click 'completed'
This point I experienced myself.
Most of my books status were clicked 'completed'; I did not know that Webnovel limits 20 books. When I wanted to add more stories, I thought adding chapter to those books, but it said 'no'.
In this case, I would like to recommend you that even though your book is completed, you should not put it 'completed'. You can make it 'pause' or 'serial'; it is considered as backup.
Related to #3.
For example, your book 'A' is put 'completed' with ten chapters. Then your space is full. You think of delete A to be replaced by new story. Because Webnovel does not have delete button, what you can do is erase the content and write new. But book A has only ten chapters and new story is twenty chapters - in this case, it means your book is able to be posted only half.
That is serious reason that I recommend you to not put status 'completed' even though your book is finished.
7. Make your unwanted chapter as draft
When you delete your chapter, it will go to 'trash'. However, I recommend you to restore it to 'draft'. Even though you decide to delete it; you don't like it; you don't need it anymore, but seriously, please make it to be 'draft' and keep it there. No one know. Maybe one day, you need it - the chapter's space, not the content.
8. Big chance to get audience, but also pirate
Webnovel has huge audiences. It is a potential place for new writer or author that wants to be recognized. But at same time you attract readers, you also attract pirate.
Most of authors on Webnovel, including me, have been experienced story stealing. And we don't get any help even from the web. Unless your book is contracted, then the web might take action for you.
Hence, if you decide to go to Webnovel, you have to prepare your mind that your story can be stolen before you can monetize it.
That's all what I can share you about writing on Webnovel.
Still, I recommend to put your pen on the platform because it is really a good and beneficial place for anyone that wants to be author, especially fiction author.
However, please remember, success is not free.