Cryptocurrencies

Yahoo Finance Adds Cryptocurrency Trading to iOS App

by Jonathan Dyer

Yahoo Finance is jumping into the crypto market. After adding dozens of cryptocurrency quote pages last year, the company will now allow users to trade crypto via their iOS app. At launch, the four coins supported are Bitcoin, Ethereum, Litecoin, and (somewhat surprisingly) Dogecoin.

The new ability is made possible thanks to Yahoo’s partnership with  TradeIt, which was launched just under one year ago. That integration allowed Yahoo users to link their brokerage accounts and make trades on the fly. Although the cryptocurrency trading capability is currently only available with the Yahoo Finance iOS app, the company says it’s working to roll out the feature on Android and the mobile web soon.

Incidentally, it briefly appeared that Yahoo was also introducing crypto trading to their desktop site. As CoinTelegraph reports, “buy” and “sell” buttons popped up when viewing Bitcoin and some other crypto prices on Wednesday. However these buttons were later removed, with Yahoo Finance representative Caitlin O’Neill clarifying to the outlet, “Yesterday’s launch was for the iOS app only — it should still be available and visible there. Desktop, mobile web, and Android will be available in the coming weeks.”

In a press release announcing the launch of cryptocurrency trading, Joanna Lambert (General Manager of Finance & Tech at Yahoo parent company Oath) said, “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.”

Yahoo’s announcement seemed to be pretty well received by the cryptocurrency world, including in a tweet from Litecoin creator Charlie Lee that read, “You can now buy/sell LTC on @YahooFinance. Mass adoption is achieved one step at a time.” Unfortunately, the big news haven’t seemed to help boost crypto prices much, with Bitcoin hovering around $7,000. Meanwhile Etherum continues to slump, trading below $300 for most of the week.

As Lee correctly notes, each new embrace of cryptocurrency is a small win for the technology. Additionally, while Yahoo might not be the same powerhouse it was in previous decades, it’s still a massive site that continues to wield influence (for the record, Alexa.com ranks the site #6 both in the U.S. and globally). With that, hopefully the company’s latest integration(s) will prove to be another stride forward for cryptocurrencies.

Author

Jonathan Dyer

I'm a small town guy living in Los Angeles looking to make solid financial decisions. I write for a number of finance websites, including HuffingtonPost and Business2Community. I founded DyerNews.com in 2015 to focus on personal finance and the emerging FinTech markets.

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