Yahoo Finance has added a new feature to its platform which allows people to trade cryptocurrencies. The addition of the service has excited crypto users who see it’s as a great step to mainstream acceptance of cryptocurrencies. According to several tweets on Twitter, the service is also available at Yahoo Finance’s desktop version. The company confirmed the service stating that it plans to extend it to mobile web platforms and even to Android users in the future.
In a tweet, Mr. Pompliano stated that: “You can now buy Ethereum, Litecoin, Dogecoin and Bitcoin on Yahoo Finance.” Yahoo Finance is a subsidiary of Yahoo and has been in existence for more than 2 decades dealing with information about financials and stocks.
However, buying digital currencies on YF will have different rules depending on the location of the trader. The trading options will also integrate Coinbase and Robinhood which operate in separate states. The integration of cryptocurrencies in Yahoo Finance will expose the coins to 165 million users who are active on the platform. The company however excluded BCH and ETC which are supported by Coinbase.
In this launch, YF has partnered with Tradelt a platform which acts as a hub for financial assets trading. Tradelt has also integrated with Coinbase something which enabled users to carry out in-app trading. The platform started tracking the prices of Bitcoin in 2014 before expanding to cover 100 exchanges in 2017.
The crypto market did not react much to this news. Bitcoin has however gone up by 0.7% to trade at $6,927 with a market cap of $119,441,752,492 according to coinmarketcap. Bitcoin, however, remains to be the most popular digital currency and the main driving force of the crypto market. Ethereum is trading at $278.80 which a 0.14% rise at the time this article was written with a coin market cap of $28,345,033,824. Litecoin was the third digital coin added at Yahoo finance even though it’s not the third most popular in the market. Litecoin is currently ranked 7th with a coin market cap of $3,483,960,414. The coin has also gone up by 0.84% according to the coinmarketcap.