Bitcoin on TD Ameritrade, confirmation by Charlie Lee
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Bitcoin on TD Ameritrade, confirmation by Charlie Lee

By Fabio Lugano - 24 Apr 2019

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TD Ameritrade, the largest US trading platform, is testing the sale of bitcoin and litecoin on its system. The news, confirmed by Charlie Lee, was reported by a Twitter user, Cryptopolis, who was able to buy a bitcoin on the Nasdaq through the TD Ameritrade platform.

The news was subsequently scaled back by the trading platform’s customer support, which initially did not fully understand what had happened and they even asked for information about the trade and denied its execution, then they contacted the user and told him that the transaction was only on paper and that it was part of an ongoing test by the brokers and Nasdaq.

This means that Cryptopolis actually bought a BTC, but only in terms of internal testing, without the operation ending up on the market.

However, this is extremely relevant news because it confirms the state of the art and the real intention of large trading companies to enter the virtual currency industry. This news was then taken up on Twitter by Charlie Lee, founder of Litecoin, in a message in which he showed how LTC was also present on the trading platform.

Clearly, the possibility of buying and selling virtual currencies on normal trading platforms, through a large and regulated market such as Nasdaq, would open completely different perspectives for virtual currencies, with the possibility of an important growth as an investment tool.

At the same time, as other comments also point out, the problem of the physical delivery of cryptocurrency would still remain unresolved, an element that is easy and immediate to execute in dedicated exchanges, but that still appears complex in a market such as the Nasdaq.

There would therefore still be a need for agreements for storage and delivery through external systems that, although existent, would add a step that is currently not necessary on crypto exchanges. Only immediate physical delivery will be able to equate the Nasdaq with existing crypto asset exchanges.

Fabio Lugano
Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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