Yahoo Begins Providing Bridge Facility To Trade Crypto Currencies
Yahoo Finance is now offering the facility to buy and sell Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH) and Litecoin (LTC) via Robinhood and Coinbase exchanges.
Yahoo Finance is the latest main stream portal to join the crypto bandwagon. Yahoo Finance, the media division of Yahoo! network, provides business news and price data of stocks, bonds, currencies and much more. The site also provides basic tools for investment management.
Presently, Yahoo Finance offers price, market cap, % change, 52-week range, and circulating supply pertaining to 112 cryptocurrencies in the crypto section.
Now, it has started providing an option to buy and sell a handful of cryptocurrencies through the affiliate platforms. As of now, a facility to buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) is only provided. Notably, the offer is available to only the US users. Of the 165 million visitors to Yahoo finance portal, roughly 113 million (69%) are US visitors. The website also receives significant visitors from countries such as Canada, Hong Kong, UK and India as well.
Even though, Yahoo has not mentioned about the expansion of service, still, crypto investors are hoping that Yahoo extends the service to other country visitors.
Commenting on Yahoo’s initiative, founder and partner at Morgan Creek Digital, has tweeted as follows:
You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance.
THE VIRUS IS SPREADING 🚀
— Pomp 🌪 (@APompliano) August 29, 2018
As mentioned earlier, the facility is not offered directly but through third-party brokers. Yahoo’s home page says
“Yahoo has partnered with TradeIt, Inc. so you can trade within Yahoo Finance using your online broker.”
TradeIt basically offers,
“The API infrastructure that links retail investors and app developers with any online financial broker.”
Presently, the facility links to two crypto exchanges, namely US-based Robinhood and Coinbase. No account details are stored by Yahoo. It simply provides an option to trade multiple cryptos from a single place. Yahoo only provides the bridge to trade cryptocurrencies. A user must have an account with either Robinhood or Coinbase to use the facility.