Is TD Ameritrade Working to Enter the Crypto Industry?

TD Ameritrade is a financial services company and provides a trading platform through which users can trade stocks, mutual funds, investments, and much more. TD Ameritrade has reportedly around 11 million users.

Rumors are circulating all over the internet that this company is already in testing phases of crypto trading in association with ErisX. ErisX is a Chicago-based company, and according to the rumors, it is developing and testing a beta version of crypto trading on TD Ameritrade’s online trading platform. However, this news is not official yet.

If it is, TD’s 11 million users will be able to dabble in crypto trading officially on its platform. Other top companies like Fidelity and the NYSE are also working toward crypto trading. They said that testing is in the final stages and after completion, crypto trading will be officially available for users.

Charlie Lee, the creator of Litecoin, has some exciting news about whether or not the TD rumors are true. Lee said that he observed TD Ameritrade has tested Litecoin and Bitcoin on their brokerage platform.

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Any information regarding fees, trade costs, and more will be disclosed to users after ErisX completes the product development without any bugs. TD Ameritrade appears to be planning to make all cryptocurrencies available for trading, not just Bitcoin.

The rates of cryptocurrencies may rise or fall, but there is no downfall for its development. If the world is not focusing on this concept, why are some of the major companies developing their own crypto coins?

This concept is backed by blockchain technology, a superior tech for safety. Transactions can be done irrespective of the sender and receiver locations. There are a lot more advantages with cryptocurrencies, and having big companies like TD Ameritrade introducing crypto trading is a good step for the future of crypto.

Featured image: DepositPhotos © opturadesign

 

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