Industry Technology

Crypto-Friendly Yahoo Finance Launches BTC, ETH, LTC and BCH Trading Feature

Nick Chong | August 30, 2018 | 9:00 am
yahoo finance
Industry

Crypto-Friendly Yahoo Finance Launches BTC, ETH, LTC and BCH Trading Feature

Nick Chong | August 30, 2018 | 9:00 am

Although current crypto prices are a far cry from last year’s all-time highs, the adoption of blockchain-backed assets remains a hot topic in this industry, with Yahoo Finance revealing a crypto-friendly feature.

“The Virus Is Spreading”

In an unexpected move, Yahoo Finance, a well-established business news site, has introduced Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) trading support right on its webpage. Now, users will be able to buy and sell these four cryptos without ever having to click off Yahoo Finance, a welcome addition for less technologically-adept users of the California-based platform.

Although the site also supports price tracking for a variety of well-known cryptocurrencies, options to purchase or sell any assets other than the four aforementioned are unavailable.

For those looking to take advantage of this newly-introduced feature, it is as simple as searching up the ticker symbol of the aforementioned cryptos and clicking the “buy” or “sell” button. Upon clicking the button, which is colored in a bright sky blue, users will be prompted to select “a broker,” with the site currently supporting the crypto trading APIs from Coinbase and Robinhood. Following an automated brokerage connection process, buying and selling crypto should be a cake walk.

Oddly enough, Yahoo Finance has yet to release a statement on the subject, but it is more than likely that this is a bona fide move backed by the technology giant.

While this news was quickly cast aside by some, optimists see this new medium of crypto trading as a gateway to widespread adoption. Soon enough, everybody and their dog had something to say about this new feature.

The first notable mention of Yahoo Finance’s move came from Anthony Pompliano, the founder of Morgan Creek Digital Assets, jokingly noting that “the virus is spreading.” The mention of a crypto “virus” or “bug” has long been a colloquial term for adoption in the crypto industry, with Pomp’s statement essentially pointing out that Yahoo’s move will only help to bolster the acceptance of cryptocurrencies.

This sentiment regarding adoption was soon echoed by Litecoin founder Charlie Lee, who recently stated that this is an optimal time to focus on the development of this industry, rather than short-term price action. Lee lauded Yahoo’s move as one step towards mass adoption, which the Litecoin founder sees as a long-term catalyst for the success and price of crypto assets.

It is apparent that this is one of Yahoo’s moves to further position itself as a crypto-friendly site, as the previously legacy market-centric source recently opened its doors to offer blockchain and cryptocurrency related content to its vast audience.

 

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