Yahoo Finance has officially announced that it would allow cryptocurrency trading. This will be possible right now through their IOS application for Apple Devices.
According to Yahoo Blog, They will be Trading with 4 Major Cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and Dogecoin. This is all done via IOS application also they mentioned that Android and Desktop versions are coming soon.
“As the leading provider of financial data, insights, and editorial content, we are constantly looking for ways to better serve audiences on the Yahoo Finance platform,” said Joanna Lambert, Yahoo General Manager of Finance & Tech.
This was accomplished by Yahoo on Partnership with TradeIt. TradeIt is known for its API integration that helps Yahoo Finance Platform to connect with financial institutions.
There is no much information on which exchange is being used by Yahoo to carry the trading. But last year TradeIt has officially announced through their blog that they have partnered with Coinbase. So this somehow makes us understand that the cryptocurrency trading exchange is done by Coinbase.
Also, there were reports before that Yahoo is going to open cryptocurrency exchange in Japan. And in order to achieve this, they are going to purchase shares of BitARG Exchange. But currently there are no official reports from Yahoo on the purchase and to open cryptocurrency exchange in Japan.
Yahoo Finance is one of the world’s biggest portal’s for stock market traders and now it will consist of cryptocurrency trading. This will benefit the traders who are into both stock market and cryptocurrency trading.
There is no doubt Yahoo Finance will easily gain cryptocurrency traders on their platform due to the brand and support they will provide to its customers. But will they be able to compete with the existing trading market? That is the question we all need to wait to see.
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