Sometime in the 2000’s Yahoo seemed to set to be the internet giant for decades to come. Although the rise of Google ultimately left Yahoo in the dust, Yahoo Finance remains the world’s most popular financial news website. Now, Yahoo Finance is making its move into cryptocurrency by allowing its users to buy 4 cryptocurrencies straight from the website.
Yahoo Finance added buy and sell options for Bitcoin, Ethereum, and Litecoin on August 29th. The four assets currently rank 1st, 2nd, and 7th respectively in terms of market capitalization among cryptocurrencies.
Yahoo Finance uses Coinbase and Robinhood to act as third-party brokers for the transactions. Thus, Yahoo does not retain any user information, but users need an account from at least one of the two exchanges to access the digital assets through Yahoo. It would not be surprising to see Yahoo add the feature for Bitcoin Cash and Ethereum Classic in the future given that it was just added to Coinbase.
Yahoo Finance is reported to have approximately 165 million users monthly. As of now, the feature is only available to United States residents, but almost 70 percent of the traffic comes from the U.S. Hopefully, the feature will be extended to the rest of the 52 million monthly users in the future.
*The feature might only be available during the times that the U.S. market is open.