The news hasn’t been covered by a lot of big news websites, nor did it get a lot of hype. Nevertheless, it is HUGE news for the crypto space: as of this week, investors can buy and sell Bitcoin, Ethereum, and Litecoin on Yahoo! Finance. Yahoo’s trading app now includes ‘buy’ and ‘sell’ icons next to the three cryptocurrencies, giving investors a new venue to buy and sell the digital assets. Mass adoption is coming!
Yahoo! Finance’s entry into the cryptocurrency market is an important step toward achieving wide-scale adoption of digital assets. While previously a place to look up stock market data, Yahoo Finance announced last September that it was introducing trading directly through its app. The company’s Japanese arm has since announced plans to introduce cryptocurrency trading as early as next year. Digital assets are considered legal tender in Japan.
Although the announcement was largely ignored by major news outlets, a few well-known people in the crypto space tweeted about it.
Charlie Lee, founder of Litecoin, tweeted on Wednesday: “Mass adoption is achieved one step at a time,”
— Charlie Lee [LTC⚡] (@SatoshiLite) August 29, 2018
Anthony Pompliano, Morgan Creek Digital’s Founder & Partner, said on Twitter:
You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance.
THE VIRUS IS SPREADING 🚀
— Pomp 🌪 (@APompliano) August 29, 2018
Yahoo! Finance is widely used by consumers, retail traders and even institutional investors to monitor price trends in the financial market. By offering crypto, Yahoo! Finance could spearhead wider adoption at a time when organic searches for terms like “Bitcoin” and “Cryptocurrencies” are very low.
By adding the three cryptocurrencies to the Yahoo Finance portfolio, the platform might get a boost of adding new users. Furthermore, multiple statistics are also available on the Yahoo! Finance platform, including Bitcoin Cash (BCH), Ethereum Classic (ETC) and EOS (EOS). Although these digital assets are currently not available to buy or sell, it does indicate that there may be new cryptos coming soon to the platform.