Yahoo Finance has long given users the ability to track the price of cryptos – identically to how users of the platform can track stock prices. However, for some time the platform has only let users buy and sell stocks through its platform, but that has all changed. Yahoo Finance users from a US IP address can now buy and sell cryptos through the platform in the same way they would trade stocks. Users can now buy and sell Bitcoin, Ethereum, Bitcoin Cash, and Litecoin with Yahoo finance. It signals a huge leap forward for the crypto trading industry and will provide a much-needed boost to the crypto markets.
TradeIt to the Rescue
Yahoo Finance has used the TradeIt API to connect its users to crypto exchanges in the US – identically to how it handles stock trading. Unfortunately for European users, TradeIt doesn’t work outside of America for the time being. TradeIt doesn’t have any plans in the works to expand into European markets either, so any Europeans wishing to trade through Yahoo Finance will need to use a VPN in order to access the crypto markets. The TradeIt API gives Yahoo Finance users the ability to instantly buy and sell cryptos at the click of a button, often as they view the price for the available cryptos.
Simplistic Crypto Trading in Demand
The demand for simplistic crypto trading is booming, and apps that give quick and easy access such as Change and Revolut are gaining thousands of users every week. In an exclusive interview with BitStars News, Andrew Kiguel – CEO of Hut 8 mining – said, “there are a lot of people who would like to get exposure to cryptocurrencies, but they don’t want to take the leap of faith and go on online, provide all their personal information, and wire money to a company they have never heard of before”. This shows that there is a huge demand for these simplistic apps that provide a sense of familiarity.
Skrill Offering ‘Crypto’ Trading
Digital currency platform Skrill has begun to offer cryptocurrency trading as well. However, in an exclusive interview with BitStarz News, Lorenzo Pellegrino – Skrill CEO – said that its “users can essentially buy an interest into an underlying crypto asset through Skrill. We do not offer crypto wallets to users, and they do not own the cryptocurrency.” This highlights the need to be very careful when using simplistic trading platforms, as you might not actually be buying the crypto you think you are.
Yahoo Finance offering crypto trading is a great step for the crypto community. Giving users the ability to trade crypto through a well-known and trusted platform will surely only bring Bitcoin and other cryptos one step closer to mass adoption.