tastyworks, one of the fastest-growing online brokers, announced today that its platform now supports trading four of the most actively traded cryptocurrencies: Bitcoin, Ethereum, Litecoin and Bitcoin Cash. With a combined market capitalization of over $735 billion1, the four represent the market power of the digital asset market and are an indication of its emergence as its own asset class.
“The recent surge in the prices of crypto like Bitcoin and Ethereum has increased customer interest in trading them,” said Scott Sheridan, CEO of tastyworks. “Our development team has built what we feel is one of the most secure, low-latency, and reliable digital asset order routing and execution systems out there. And most important, it lets our clients buy and sell them and monitor their positions alongside their stocks and options. We are the first major brokerage firm to offer this.”
Investors wishing to buy or sell cryptocurrencies have typically had to trade on a crypto exchange. Adding this functionality into the tastyworks platform is a step towards mainstreaming digital assets by giving self-directed investors the ability to add them to their equity portfolios.
“More of our viewers have been asking us about the ‘hows’ and ‘whys’ of trading Bitcoin and other cryptos,” said Tom Sosnoff, co-CEO of tastytrade, the online financial media network. “The ability to trade them directly on tastyworks is huge. Plus, we’ve been working on new statistical research on digital assets that will give traders a different perspective on their use. Stay tuned.”
tastyworks customers can request approval for their margin or cash accounts, and will be able to use symbols BTC (Bitcoin), ETH (Ethereum), LTC (Litecoin) and BCH (Bitcoin Cash) to see quotes, charts and trade them.