Want to hedge your bitcoin exposure with a bit more tangible assets? First Global Credit, a firm that enables cryptocurrencies to be used as collateral margin to trade stocks and ETFs, will add commodity futures trading to its lineup on Monday, March 7th.
“This will be another first for the digital currency market,” says First Global Communications Director Marcie Terman. “We are committed to bringing the same kinds of choices fiat currency investors have to the digital currency marketplace. I am really looking forward to seeing how people utilize the platform in the coming months. Whether we will end up with people who are skilled only in stock or currency trading or if the majority of our customers will trade across the full range of market choices.”
The move comes after the firm saw growth in the adaption of its current offering as it reports that in February $2.2 million worth of stock and currency trading took place on the platform. This represents a new high in the amount of trading handled by First Global which set its last record in November of 2015 at $1.8 million.
“There is no doubt that the number of trading opportunities in the stock market right now has helped stimulate trading,” stated Terman. “But the number of people using the site to increase the value of their bitcoin holdings has been steadily increasing over the past 6 months as well. That has also contributed to First Global’s performance in February.”
The company will start promoting a new competition to introduce traders to the its Private Trading Group. “Star Traders will be able to publish their live results in a portal designed to introduce profitable traders to people who hold bitcoin but lack trading ability.” Continues Terman. “The Star Trader portal is another example of how First Global adds value to the digital currency market.”