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One of the most paramount ingredients that are necessary to be a part of the mainstream cake is being featured and accessible on the right figurative shelves. And in the field of finance and trading, one of these salient shelves is Yahoo Finance.
Yahoo Finance is right there at the top financial portals all over the internet. In September 2017, it began enabling users to trade stocks by linking their broker accounts with Yahoo Finance’s platform, and now it introduces a new exciting option: trading cryptocurrencies. Currently, there are three popular crypto-USD pair trading possibilities on the site – Bitcoin (BTC-USD), Ethereum (ETH-USD), and Litecoin (LTC-USD) – whilst information about an overall of 112 cryptocurrencies is fully available based on data from the crypto comparison website CryptoCompare.
The buy/sell availability on such an immensely popular portal lifts the status of the entire crypto industry and cuts down a lot of the suspicions of it – because if it’s featured on Yahoo Finance, how questionable can it possibly be? It therefore definitely wouldn’t be a stretch to claim that with these trading options opening up, crypto has just made another small step toward mass adoption.
Even though that at the moment only Bitcoin, Ethereum and Litecoin are opted for trading, there’s no reason not to conjecture that more cryptocurrencies will also become tradable on the site as well, especially when considering that Yahoo appears to have big plans for crypto in the future. In March this year, it was reported that Yahoo Japan would acquire a 40% stake in the crypto exchange BitARG Exchange Tokyo (which was consequently confirmed in April); evidently, Yahoo aims to open a crypto exchange of its own – probably in 2019 – and this was the first significant stride toward this direction.
Another indication that Yahoo is very serious about cryptocurrency is a crypto conference that the company organized earlier this year in February, and in which the speakers and panels included some of the most prominent individuals in the crypto sphere.
In any case, it probably won’t take much time for investors to grasp and become acquainted with the new possibilities to trade cryptocurrencies on Yahoo Finance, which would ultimately be manifested in greater trading volumes and perhaps (although there are many more factors at play) in a price rally too.