Yahoo Finance is now allowing its more than 115 million US users the ease to buy and sell Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) through Coinbase and Robinhood exchanges.
Crypto virus spreading like wildfire!
Yahoo Finance is the latest brand to join the crypto fray. The media arm of Yahoo! network, Yahoo Finance provides news and data on finance along with stock updates and much more. The site also provides tools to manage personal finance. From now on, it will also be catering to the crypto industry in a more peculiar manner.
Yahoo Finance already has about 112 cryptocurrencies added to its crypto section providing information on a number of its factors from market cap, volume, % change, circulating supply, 52-week range, and more.
Now, it is also offering the option to buy and sell selected cryptocurrency on its platform. One of the most popular finance news websites, it is providing the option to buy and sell only four cryptocurrencies for now viz. Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), and Litecoin (LTC).
You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance.
THE VIRUS IS SPREADING ?
— Pomp ? (@APompliano) August 29, 2018
However, this option is only for the US users. With a monthly user base of about 165 million, US users comprise approximately 113 million i.e. 69% according to the data provided by SimilarWeb. The website receives significant traction from countries like Canada, UK, Hong Kong, and India as well. Though there is nothing on the expansion of these services, it can be expected that it will further roll out crypto buy & sell option in these countries in the future and for more cryptos too.
Buy & Sell cryptos with ease
Yahoo Finance is not directly involved in the buy and sell process, rather has third-party brokers just like for stock buy and sell options. The official page of the website lists
“Yahoo has partnered with TradeIt, Inc. so you can trade within Yahoo Finance using your online broker.”
TradeIt basically provides,
“The API infrastructure that links retail investors and app developers with any online financial broker.”
It further has two crypto exchanges viz. US-based Coinbase and Robinhood. Moreover, they don’t store the credentials or any other account details. Yahoo Finance provides its users the option to trade from just one place for a number of cryptocurrencies or options.
As for how exactly you can buy or sell the four cryptos on Yahoo Finance, for the starters, it requires you to have an account in either of the two exchanges i.e. Robinhood or Coinbase.
Once you have access to and reaches the US website of Yahoo Finance, you need to select the currency pair of your choice like BTC/USD. Then, simply click on Buy or Sell button for which you have to select your exchange. From here, you will be redirected to the exchange and then you can place your order.
With names like Yahoo and Nasdaq among others entering into crypto, slowly but surely big brands along with the smaller ones are actively moving to crypto.