Traders from the US can now see buttons for direct purchase and selling for three digital assets. Beyond headliner Bitcoin (BTC), trading options are available for Ethereum (ETH) and Litecoin (LTC), the second and seventh biggest cryptocurrencies by market cap, respectively.
For Charlie Lee, founder of Litecoin, this is one step to mass adoption:
Buying cryptocurrencies via Yahoo Finance has different rules depending on the region, and varies from easy to very difficult. Usually, limitations apply for users, even with a complete know-your-client (KYC) profile. The buttons are not available in other regions.
The Yahoo trading options integrate Coinbase, the best-used app for crypto purchases in the US, as well as Robinhood, which has unrolled gradually to separate states. The usage of the buy and sell options depend on the limitations of user accounts with those services. Still, the Yahoo profiles of the most prominent and liquid coins will expose crypto price information to 165 million visitors per month worldwide, with the predominant account users based in the US.
Recently, Yahoo Finance started importing data from CryptoCompare, to add real-time price action for digital assets. The financial website thus fosters the adoption of crypto trading, but actual usage of crypto coins becomes a point of contention.
Yahoo’s selection of assets still excludes Bitcoin Cash (BCH) and Ethereum Classic (ETC), which are supported by Coinbase.
After the news, the coins on offer kept trading at slightly lower levels. BTC fell some 2% on a daily basis to $6,940 as of 10:00 UTC, LTC went down 4.3% to $59.84, and ETH dropped 4.9% to $280. Despite the Yahoo Finance trading option, there has been an outflow of retail buying and a lack of enthusiasm for crypto assets, while prices are kept up largely by Tether (USDT) trading.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.