Bitpanda Launch New Asset Class for Commodities Trading

Cryptocurrency trading and investment platform Bitpanda has expanded its offerings and has added a new asset class to its platform. 

Bitpanda has launched a commodities trading service for its customers. Hence, users of the app can now buy and sell oil, natural gas, aluminum, and wheat including its previously listed digital assets. With this move, Bitpanda is inching toward competing directly with Europe’s “traditional” CFD brokers.

Interested investors can now stand a chance to benefit from the short-term price movement. Notably, the price of natural gas is currently soaring. 

With as little as 1 Euro, Bitpanda customers can now invest in the different asset classes made available by the platform for 24 hours every day. So far, the available Bitpanda asset classes are cryptocurrencies, crypto indices, stocks, exchange-traded funds (ETFs), precious metals, and now Bitpanda Commodities.

Bitpanda is a European trading platform that started out as a cryptocurrency exchange eight years ago in Vienna. 

As time went on, it gradually expanded its asset options to include other products. Its first additions to cryptocurrencies were stock, ETFs, and precious metals which allows customers to purchase tangible assets. Barely two months ago, Bitpanda also added thematic crypto indices to its list of products.  

Better Offering for Bitpanda Users

Now, through derivative contracts, users are able to gain exposure to exchange-traded commodities (ETCs). 

The investment platform will hold the ETCs but unlike in the case of the precious metals, customers will not be able to buy those commodities shares as physical assets. Significantly, a series of inflation surges and market fluctuations have been noticed this season. With the newly introduced commodities trading, Bitpanda believes that investors’ investments can be protected against such fluctuations. 

Eric Demuth, the CEO, and Co-founder of the trading platform declared that he is thrilled to have his firm offer customers a means to salvage their savings amidst market instability. 

“I’m excited we’ve been able to add commodities to the platform at a time when inflation is biting into people’s savings. Bitpanda customers can now bet against their gas bill and benefit from the short-term price movements of key commodities like oil, natural gas, corn, wheat, and many more,” He said.

Over the years, Bitpanda keeps trying to grow its portfolio either through a partnership or more product offering additions. 

Particularly in 2021, the trading platform collaborated with French fintech company Lydia to provide its users with cryptocurrency investment options. Likewise, it also has a partnership with Fabrick to provide digital asset trading services to Italian banks and fintech.