The conventional financial stance to cryptocurrencies shifted in early September, which might have a huge influence in the future. According to Coin Telegraph, Yahoo Finance revealed late in August that it will include bitcoin, ethereum, and litecoin trading on its website. Previously, the site just provided statistics. It now provides data on altcoins such as bitcoin cash, ethereum classic, and EOS, while trading capability is restricted to the aforementioned popular currencies. Some in the digital currency sector hailed this move as a critical step toward the mainstream financial world’s embrace of digital currencies.
Four Cryptocurrencies Available for Trade
Aside from BTC, ETH, and LTC, Yahoo Finance now supports a fourth cryptocurrency: dogecoin. Dogecoin started off as a gimmick, called after a famous meme reference. However, it has achieved significant success as a digital token as well.
At the time of the announcement, bitcoin trading capabilities were only accessible on Yahoo Finance’s iOS mobile app, not on the trading platform’s desktop version. However, Yahoo has said that it intends to add cryptocurrency trading to the platform’s desktop, mobile web, and Android editions in the future.
Yahoo collaborated with trading platform Tradelt to enable bitcoin transactions. Tradelt interacts with brokerage providers to make financial asset trading easier. Tradelt’s services were not just sought after by Yahoo; Coinbase joined with the firm in 2017.
The shift toward cryptocurrencies has come as no surprise to some in the Yahoo Finance community. Indeed, the financial news service originally collaborated with Tradelt in September of 2017. Through the agreement, Yahoo Finance at the time provided users the ability to trade conventional financial assets in-app. According to Coin Desk, up until September of this year, exposure to cryptocurrencies was limited to price data and portfolio performance statistics. Yahoo Finance started tracking bitcoin prices in 2014, and it currently tracks more than 100 digital currencies across all of its platforms and throughout the globe.
Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is very dangerous and speculative, and this article is not a suggestion by Investopedia or the writer to do so. Because every person’s circumstance is different, a knowledgeable specialist should always be contacted before making any financial choices. Investopedia makes no guarantees or warranties about the accuracy or timeliness of the information provided on this site. The author owns bitcoin and ripple as of the day this post was published.
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