Crypto at comdirect: 29 Certificates, No Coin

At comdirect you have been able to bet on Bitcoin and Ethereum for years without owning a wallet. What you do not get is a real coin: the bank puts crypto certificates into your securities account, that is, debt instruments tracking the price. How much this route costs you hangs on a single figure from the price list, the minimum fee of 9.90 euros per order. Anyone investing 100 euros in one go therefore pays 9.90 percent in fees. Anyone investing the same amount through a savings plan currently pays nothing.

We evaluated the product page and the schedule of prices and services on October 4, 2026 and recalculated the costs for order sizes from 50 to 25,000 euros. The result separates two groups of investors very clearly from one another.

Crypto trading at comdirect means a certificate, not a coin

comdirect is a brand of Commerzbank AG. On the product page there is the sentence that explains the whole construction: you are not buying a “‘real' coin (cryptocurrency), but a derivative on that cryptocurrency”. The security tracks the price almost one to one, in both directions.

A crypto certificate, often also called an ETP for exchange traded product, is an exchange-listed bearer debt instrument: a loan to the issuer whose repayment is tied to the price of an underlying. That is the decisive difference from an investment fund. comdirect writes it itself: with ETPs and certificates there is “no protection against the insolvency risk of the issuer”. An ETF, by contrast, is ring-fenced assets and stays untouched if the fund company fails.