At one point in the 2000s, Yahoo seemed destined to become the Internet giant for decades to come. Although the rise of Google eventually left Yahoo in the dust, Yahoo Finance remains the most famous financial news site in the world. Now, Yahoo Finance is entering the cryptocurrency by allowing its users to purchase 4 cryptocurrencies directly from the website.
Yahoo Finance has added buying and selling options for Bitcoin, Ethereum and Litecoin on August 29th. The four assets currently stand at 1st, 2nd and 7th respectively in terms of market capitalization among cryptocurrencies.
Yahoo Finance uses Coinbase and Robinhood to act as a third-party broker for transactions. Therefore, Yahoo does not retain any user information, but users need an account from at least one of the two platforms to access digital resources through Yahoo. It would not be surprising to see Yahoo add the functionality for Bitcoin Cash and Ethereum Classic in the future since it was just added to Coinbase.
Yahoo Finance has about 165 million users a month. As of now, the feature is only available to residents in the United States, but almost 70% of the traffic comes from the United States. It is hoped that the function will be extended to the rest of the 52 million monthly users in the future.
* The functionality may only be available during periods of opening of the US market.