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Yahoo! Now Supports Crypto Trading

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Yahoo has now added the possibility of crypto trading as part of its Finance sector. Currently, the sixth largest website on the internet supports Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH).

Yahoo adds crypto trading option to Yahoo Finance

The crypto trend continues to persist and even expand, as all the largest companies around the world are slowly turning towards this technology. In fact, cryptocurrencies have just made another large step towards the mainstream usage by winning over Yahoo Finance.

The platform now offers its users the ability to trade Bitcoin, Ethereum, and Litecoin, in addition to offering statistics for several other coins, like Bitcoin Cash, EOS, and Ethereum Classics. Although these coins currently cannot be bought or sold via the platform, many believe that it is only a matter of time before they, and possibly others, are included as well.

The new move was seen by many in the crypto community as a big thing for cryptocurrencies. While cryptos still continue to struggle with achieving adoption, enabling trading on Yahoo! is an enormous step up. Anthony Pompliano, the founder of Morgan Creek Digital, shared the news on his Twitter account, saying that “The virus is spreading”.

Plans for the future

At the moment, Bitcoin’s price is at $7,379.33, with a 1.13% increase in the last 24 hours. As for Ethereum, its price is $283.54 per coin at the time of writing and is actually down by 1.05%. As for Litecoin, the third and last coin that Yahoo Finance currently has a trade option for, its price is $67.85 right now, with a 1.41% rise.

It should also be mentioned that the new development came several months after Yahoo’s Japanese arm officially stated that they plan to open their own crypto exchange. The exchange was scheduled for April of the next year, or possibly even later than that. Additionally, Yahoo Japan was planning to purchase up to 40% of BitARG Exchange Tokyo. These plans were first made public back in April of this year.

Soon after that, a team of executives was dispatched to start preparing the foundations for a soon-to-be exchange. Now, however, it would seem that Yahoo itself is making the first move towards cryptos, and many are speculating that this may be an attempt to win back users that have turned to Google over the years.

Whatever Yahoo’s motivations may be, the fact remains that this is a big thing for all cryptos, as displaying crypto friendliness is more than enough at this point. Whether Yahoo Finance will expand the list of tradeable digital coins or not, still remains to be seen.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Ben Metcalfe via Flickr

Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

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Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

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New DoJ Ruling May Cripple Gambling dApps

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A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

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7 Steps to Recovery from a Crypto Trading Loss

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Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

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