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Yahoo Finance Now Allows Crypto Trading on iOS App

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The trend around cryptocurrency continues to not only persist but expand, as the world’s largest companies gradually adopt the technology. It may have started with Bitcoin, but now some pretty big players are allowing you to buy Litecoin, Ethereum, Dogecoin, and more.

In fact, the sixth most popular website in the world has recently launched a new service that allows you to directly trade digital coins, such as Bitcoin (BTC) and Ethereum (ETH) through its platform.

Yahoo Finance allows crypto trading Yahoo.com, which Alexa has named as the sixth most popular website, both in the U.S. and globally, has recently announced that it has teamed up with financial API developer TradeIt to afford you the opportunity to trade crypto coins from within Yahoo Finance.

Buy and sell via iOS

Yahoo Finance launched a stock trading feature last year that allows you to see buttons to sell and buy ETH, and other crypto coins. You now have that same ability on the quote page for digital currency. After buying into a trade, you can access an external brokerage account and execute an order, all while remaining within the Yahoo Finance platform.

The trading feature for such cryptocurrencies as BTC and ETH is only available currently on the Yahoo Finance mobile app via iOS. The app ranks as the 60th most popular finance app within the App Store.

A number of users had seen the feature on Yahoo Finance’s mobile and desktop version, as well, although it disappeared the very next day. A representative for Oath, Yahoo’s parent company, told CNN that bucket tests were being run ahead of a formal launch.

Yahoo
Yahoo Finance to allow cryptocurrency trading

Yahoo beats Yahoo Japan to the punch

It’s noteworthy that Yahoo Japan made an announcement earlier in the year that it will acquire a 40% stake in a local crypto exchange.

Soon afterwards, a number of executives were dispatched to begin the preparation for the foundation of an exchange. It would appear now, however, that Yahoo itself is making the initial move towards digital coins, and many have speculated that it may well be a bid to reclaim users that have fled to Google over the years.

TradeIt on board

Last year, the Yahoo Finance app allowed its users to directly trade by linking to other trade brokers, as a result of its joint venture with TradeIt, a firm that provides a link between external sites and broker services.

If you’re looking to use this new feature, you simply need to search up the ticker symbol of the available digital currencies like BTC and Dogecoin (DOGE), and click either the “buy” or “sell” button. Once you’ve clicked the bright sky blue button, you’ll be prompted to choose a broker. After an automated process of brokerage connection, trading crypto is made simple.

Tracking over 100 cryptos

Yahoo Finance has published BTC price quotes on its site since 2014. Last year, it added price tracking of a further 100 cryptocurrencies.

Whatever the firm’s motivations, the move remains a big deal for all crypto coins, as demonstrating a friendly attitude towards cryptos is significant at this point in time. We’ll have to wait and see whether Yahoo Finance will expand its list of traceable digital coins or not.

A great time for cryptocurrency

Charlie Lee, the founder of Litecoin, said that is the perfect time to look at the industry’s development, as opposed to price action in the short-term. Lee cites Yahoo’s move as a step towards a significant increase in adoption and views it as a long-term catalyst for the price and success of crypto assets like LTC and ETH. Now even those who wanted to know how to buy DOGE have that ability.

It’s become apparent that Yahoo’s move is one to position the company as a crypto-friendly website.

Featured image source: Pixabay

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Risk Warning: Investing in digital currencies, stocks, shares and other securities, commodities, currencies and other derivative investment products (e.g. contracts for difference (“CFDs”) is speculative and carries a high level of risk. Each investment is unique and involves unique risks.

CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.

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