Yahoo! Finance now allows visitors to purchase and trade cryptocurrency. This is significant because Yahoo! Finance is the most popular financial news website in the US.
Specifically, a buy and sell option has appeared when people in the US view the prices of Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
You can now buy Bitcoin, Ethereum, and Litecoin on Yahoo Finance.
THE VIRUS IS SPREADING ?
— Pomp ? (@APompliano) August 29, 2018
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Outshining its mother
Yahoo! Finance of New York is a branch of California-based Yahoo!. The latter, founded in 1995, was one of the first internet companies and was once the most popular portal in the US. However, the last time that it outperformed Google was in 2013, and its value declined dramatically since then. In 2016, it was purchased for $4.83 billion by telecommunications giant Verizon Communications, which had also acquired AOL a year prior. Verizon merged the two to create a new division called ‘Oath’.
Thus Yahoo! Finance, which provides comprehensive financial data and news as well as trading services, is owned by Verizon too.
Unlike its parent, it is extremely successful. The financial portal had 70 million monthly visits in May 2018 according to Statista – for comparison, CNN Money had 50 million visitors and Google Finance 40 million.
It began displaying cryptocurrency information in November 2017. At the same time it signed a partnership with cryptocurrency exchange Coinbase which allows users of both to link their accounts together.
Children doing well abroad
In March 2018, Yahoo! Japan announced its intention to open its own cryptocurrency exchange later this year. To this end, its foreign exchange branch, YJFX, bought a 40 percent stake in a Japanese cryptocurrency exchange called BitARG for an estimated $19 million. BitARG is licensed by Japan’s Financial Services Agency.
Yahoo! Japan is not owned by Verizon; it is very popular in Japan, and resisted the purchase. Founded in 1996 and listed on JASDAQ in 1997, it became the first company in Japan to have shares worth more than 100 million yen each. Its annual revenue has continued to grow dramatically on a yearly basis – in 2018 so far, it has made more than $3 billion in advertising revenue alone, according to Statista.