Yahoo Finance, one of the world’s largest financial news sites, has added an exciting new feature that allows the trading of cryptocurrencies on its platform.
Last year, it had introduced the cryptocurrency section on its platform that gave users the ability to track coins. In an announcement through their official blog on August 30, 2018, Yahoo Finance was allowing “users to act on that information and trade cryptocurrencies directly through its platforms.” The new feature, currently available on mobile web, will enable users to buy and sell popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Dogecoin.
Users who wish to use the Yahoo Finance app to trade can do so by linking their account via integration with their API partner TradeIt. Yahoo has said that mobile web and desktop versions of Yahoo Finance will soon enable this crypto trading feature.
Yahoo Finance started using TradeIt’s API integration to allow direct trading through their platforms. Its decision to provide information on over 100 cryptocurrencies garnered support from both the traditional and crypto investment community. Continuing its legacy to spot future trends and act on it – the company started tracking Bitcoin’s price as early as 2014 – Yahoo Finance’s crypto trading feature is also being appreciated.
While TradeIt integrated with cryptocurrency exchange Coinbase last year, it isn’t clear which exchange Yahoo is connected with for this new feature.
Yahoo Finance’s entry into the inner circle of the cryptosphere is seen as an important step towards mass adoption of cryptocurrencies. While there is still apprehension by many governments with regards to the new technology – case in point, China and India – there is also widespread excitement over the capabilities of a decentralized currency and its impact on global economy. The widespread popularity of Yahoo Finance will play a vital role in enhancing the reach of cryptocurrencies to the worldwide investor community who look at the platform for their daily dose of financial information.