The 6th most popular website in the world now supports cryptocurrency trading!
One of the most popular websites in the world just gave several cryptocurrencies the green light.
Yahoo.com announced this week that they have partnered with financial API developer TradeIt, which will allow users to buy and sell cryptocurrencies from within Yahoo finance.
Well that is handy!
A quick look at Alexa.com shows that Yahoo.com is the 6th most popular website in the world, as well as in the United States:
(Source: https://www.alexa.com/siteinfo/yahoo.com)
How will it work?
Similar to how the stock trading features work on yahoo finance, users will soon see "buy" and "sell" options next to bitcoin, ether, and several other cryptocurrency prices.
After clicking one of those buttons and initiating a trade, users will be instructed to login to an external brokerage account such as Coinbase or Robinhood.
Upon doing that, they can then execute the buy or sell order without actually having to leave the yahoo finance platform.
A couple quotes from the parent company of Yahoo on the new feature:
“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."
“We first launched our integration with TradeIt one year ago, allowing people to trade on Yahoo Finance for the first time ever. We’re excited to expand this offering to cryptocurrencies, further connecting our passionate community of investors with relevant utilities on our trusted platform.”
(Source: https://www.ccn.com/yahoo-worlds-sixth-most-popular-website-now-supports-cryptocurrency-trading/)
The new features are set to be rolled out shortly.
Currently the new features on not available on the yahoo finance web page.
The "buy" and "sell" features for cryptocurrencies are only available on the iOS version of the yahoo finance mobile app.
However, Yahoo said they are currently testing the new features and plan to launch them formally on all their web pages and apps within the coming weeks.
While this news isn't earth shattering, it provides yet another way for people to gain exposure and access to cryptocurrency trading.
Something that was much more difficult at the start of 2017 compared to where we are now.
Stay informed my friends.
Image Source:
https://www.bbc.com/news/business-36011510
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Yahoo! 😁👍😁
This sort of news in late 2017 would have sent BTC to at least $30k. I'm sure we'll get there anyways, just might take a bit longer.
Agreed. This is very big news. There have been several big announcements in the past few months that haven't really pushed prices up. Eventually the buying that comes from them will.
Why is it big news? You could look up the prices, do your research and then buy cryptocurrency on an exchange. it's not that we need yahoo for that. Yahoo probably get's paid when people open an exchange so it's a way for them to monetize their website.
Anything that makes it easier for people to buy cryptocurrency is a good thing and big news in my opinion. If you have been around crypto from Spring of 2017 or earlier, it pretty much took an engineering degree to open a crypto account and figure out how to actually use and get money in and out. The process is getting much simpler now and will help the next FOMO rally go that much higher this next time around. The one in 2017... many people were having trouble even getting in.
Thanks for sharing good sites.
This can only be a good thing for the markets and is just one of many positive stories coming out lately. The more of this we can see the better.
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There has been a lot of good news in the past few months. Looking forward to when prices start reflecting it.
It was about this time last year that everything picked up as well so I'm hoping that these are more signs of a repeat of it.
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November and December traditionally are two of the best months for crypto returns. Heading into a good time of the year seasonally.
If going on history means anything then yes. The pattern over the past three years has been very similar so if it does repeat itself then we should see a lot of gains between now and xmas.
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The first thing I thought of when I read about Yahoo enabling this was how bad they have been with security in the past and wondered who might trust Yahoo to provide a service like this. Who doesn't remember the huge hack they had a few years back?
https://www.npr.org/sections/thetwo-way/2017/10/03/555016024/every-yahoo-account-that-existed-in-mid-2013-was-likely-hacked
It sounds like they are just basically connecting users with their brokers, not really storing any coins. Though it will be interesting to see exactly how it works when it officially launches.
It's not the same people behind Yahoo anymore... It got sold a while ago.
Just need a secure and user friendly wallet now and merchants that accept it to increase adoption. However, that could still take some time to achieve.
Yes, but things are progressing nicely. When we look back on 2018, it will likely be looked at as a year of building. Even if prices mostly went down.
Security, my friend, security
Yahoo just appears to be playing a middle man of sorts. Connecting users with their brokerage accounts. Not sure how much security risk is or isn't there.
I'll be very skeptical and careful with it first.
Omg this is awesome news,
Yes, it really is big news.
Yahoo is still around? :P
Yes and no. See answer above ^
No... It and AOL got sold to same company and merged with few other brand names. They're gradually phasing out the old brand names but it will take time.
Correct, Verizon bought yahoo a few years back. Though it's yahoo finance page is still heavily used.
Yahoo! Japan is the only part of Yahoo brand that was not bought by Verizon. Verizon already sold some parts of former Yahoo it acquired to other companies. I think Verizon will only keep sites and products that still are profitable. Yahoo! Messenger was already shut down.
I don't get it how yahoo is the 6th popular website. Who is still using yahoo and why. It's only good for yahoo finance.
I use yahoo.finance daily. So do many of the traders I used to talk to. Also I know their email service is very popular, probably only behind gmail. Beyond that, I am not really sure who uses it.
Lol valid point, either way it seems to be helping the adoption of crypto so I am all for it.
Same here. It is up for debate how much it will actually help, but it certainly can't hurt. I like it.