The beginning of September saw a change in the traditional financial approach to cryptocurrencies that could have a significant impact over time. Towards the end of August, Yahoo Finance announced it would incorporate the bitcoin, ethereum and litecoin trading on its platform, according to Coin Telegraph. Previously, the platform offered only statistics. Currently, it also offers statistics on altcoin such as bitcoin cash, ethereum classic and EOS, although trading capacity is limited to the prominent coins mentioned above. This development was announced by some in the digital currency community as a crucial step towards the generalized adoption of digital currencies by the financial world.
Four cryptocurrencies available for trade
In addition to BTC, ETH and LTC, a fourth cryptocurrency was also added to the Yahoo Finance roster: dogecoin. Dogecoin began as something of a trick, from the name of a popular reference to the meme. However, he continued to see true success as a digital token.
At the time of announcement, the cryptocurrency trading features were available only on the Yahoo Finance iOS mobile app and not on the desktop version of the trading platform. However, Yahoo has indicated that it plans to include cryptocurrency trading on the platform's desktop, mobile web and Android platforms in the future.
In order to make the cryptocurrency negotiations possible, Yahoo has worked with Tradelt trading hub. Tradelt integrates with the brokerage services in order to facilitate the negotiation of financial assets. Yahoo was not the first to look for Tradelt services; Coinbase has also partnered with the service in 2017.
For some in the Yahoo Finance world, the move to cryptocurrencies was not a surprise. In fact, the financial news service began its collaboration with Tradelt as early as September 2017. At that point, Yahoo Finance offered users the opportunity to trade in-app of traditional financial assets through the partnership. Until September of this year, however, exposure to cryptocurrencies was limited to price data and portfolio performance information, according to Coin Desk. Yahoo Finance started to monitor the price of bitcoins in 2014 and now covers more than 100 digital currencies in each of its platforms and around the world.
Investing in cryptocurrencies and Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation of Investopedia or the writer to invest in cryptocurrencies or Ico. Since the situation of each individual is unique, a qualified professional should always be consulted before making any financial decision. Investopedia does not make any representations or warranties regarding the accuracy or timeliness of the information contained in this document. On the date this article was written, the author owns bitcoins and ripples.