Pros
Cons
Quick Summary
| Headquarters Location | Panama City, Panama |
|---|---|
| Fiat Currencies Supported | USD, AUD, CAD, EUR + 10 others (some through third party apps) |
| Total Supported Cryptocurrencies | 7+ |
| Trading Fees | 0% |
| Deposit Methods | Cryptocurrency, Banxa |
| Support | Twitter, Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Welcome to an in-depth examination of Deribit, one of the leading cryptocurrency trading platforms. Here we explore various facets of its operations from its inception up until today’s status in the market.
Deribit’s mission since inception has been clear: it aims to provide a cutting-edge platform for cryptocurrency derivatives trading. Catering specifically to modern traders’ needs, precision and speed remain at its heart.
The exchange has consistently shown its commitment to staying abreast of market trends and technological innovations, to remain an attractive option for traders engaged in digital asset trading.
About Deribit
Deribit first set sail into the crypto space as a vision from its founders John Jansen and Marius Jansen along with developers Sebastian Smyczynski and Andrew Yanovsky. Established as Deribit B.V in 2016, its corporate home is registered in the Netherlands while operations take place from Virgin Islands.
This platform has quickly grown in prominence, specializing primarily in trading of Bitcoin and Ethereum options and futures and quickly capturing a sizable portion of market share among crypto derivatives exchanges.
Deribit has steadily established itself in the cryptocurrency market since 2011, growing its influence through several cycles of innovation and regulation that have helped shape it. Their journey is marked by their ability to adapt quickly to changes within digital finance sector.
Deribit has demonstrated its resilience and foresight by offering complex instruments like perpetual futures contracts and European-style options, meeting both market requirements as well as anticipating what participants require from them.
Deribit has a number of active social profiles including Facebook, Twitter, LinkedIn, Reddit, Telegram and YouTube.
Deribit has a mobile app on both the Apple App Store and Google Play.
Deribit Supported Cryptocurrencies
Deribit supports trading on over 7 cryptocurrencies on their platform. This exchange currently supports 7 of the top 30 market cap cryptocurrencies.
View all cryptocurrencies Deribit supports
- BTC
- ETH
- MATIC
- SOL
- USDC
- USDT
- XRP
Trading Experience
Deribit’s trading platform has been designed to meet the needs of both novice and veteran traders alike, boasting an intuitive user interface equipped with various tools and features that enable advanced analysis and more effective trading strategies.
Position Builder and Calculation Mechanisms stand out, enabling traders to manage their positions and risks with greater precision.
Trading on Deribit was specifically created to meet the demands of advanced traders and trading firms, offering cutting-edge risk management tools like the position builder and calculation mechanisms to enable traders to assess potential profits or losses across various market conditions.
Traders also benefit from accessing an abundance of market data that provides invaluable insight for making informed decisions and creating sophisticated trading strategies.
Deribit Fees
Understanding the fee structure when choosing a crypto exchange is of utmost importance. Deribit offers a flexible fee schedule which takes into account trade types like options or futures contracts when setting its fees.
The platform typically adopts a maker-taker model which incentivises market liquidity while still maintaining competitive advantages.
Deribit’s fee structure has been carefully designed to cater to its diverse user base, which ranges from casual enthusiasts to professional traders. Through using a maker-taker fee model, Deribit encourages its members to contribute liquidity ensuring efficient price discovery and trade execution.
Additionally, the platform offers incentives such as volume discounts for traders with high trading activity – reflecting its understanding of cost-cutting in trading strategies.
| Type | Fee |
|---|---|
| Trading Fee | 0% |
Deribit supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC. The average across all other exchanges that we've reviewed is 0.000520 BTC. This means Deribit charges below the industry average by 3.79%.
Security - Is Deribit Safe?
Deribit takes investors’ peace of mind seriously, which is why we prioritize stringent security measures. Most user funds are stored in cold storage with only a minimal amount kept in hot wallets to facilitate daily withdrawals.
Additionally, this platform features two-factor authentication for accounts as well as an insurance fund to protect users against risks associated with bankrupt traders.
Deribit stands out as an asset protection leader by employing multi-factor authentication, an additional layer of protection for user accounts. Furthermore, they employ real-time monitoring technology in order to detect and thwart security threats in real time.
Insurance fund are an additional measure that ensure traders from financial implications of counterparty risk, covering potential losses that arise due to market anomalies or unexpected market events.
Deribit Customer Support
Customers receive support through multiple channels, such as an email address dedicated to inquiries. Deribit also promotes an affiliate program which rewards users who refer others – reflecting its community-minded ethos.
Furthermore, the platform provides numerous educational videos designed to maximize trading experiences for experienced users.
Deribit understands its customer needs are diverse, providing resources that meet them all from novice users looking for guidance to experienced traders looking to hone their approach.
Deribit’s dedication to education and transparency through educational videos stands as proof of its dedication to its users, creating an inclusive community environment.
Deribit Support Channels
How to Sign Up on Deribit
- Create Account - Visit the Deribit website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
Deribit Alternatives
Binance
Total Supported Cryptocurrencies
386+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
244+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
320+
Trading Fees
0.08% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
Deribit has quickly established itself as a robust platform with an emphasis on advanced trading options and deep liquidity provision, making it one of the main players in the derivatives market.
Crypto exchanges have an intrinsic link with both financial markets and technological innovation. As digital finance expands, demand will likely increase for safe platforms that provide cutting-edge digital finance services.
As the digital economy expands, exchanges like Deribit will play a critical role in providing access to a broad selection of financial products while maintaining market stability – potentially shaping regulatory frameworks and decentralized finance models in their wake.
Deribit FAQs
Deribit has implemented a range of security measures to protect its users’ funds and data. These include cold storage of the majority of assets, two-factor authentication (2FA), and mandatory whitelisting of withdrawal addresses.
However, as with any online platform, users should be aware of the risks associated with trading and storing assets digitally.
Deribit’s fee structure varies depending on the product being traded. For instance, they charge a maker and taker fee for both futures and options trading, with the specific rates available on their website.
Fees are generally competitive with other trading platforms.
Deribit is not regulated by any major financial regulatory body. The platform operates out of Panama, and while they implement security measures and practices common in the industry, they do not have the same level of oversight as a regulated exchange.
The Deribit risk engine is a real-time risk management system that monitors and manages the risks associated with the products offered on the platform. It ensures that all trades are collateralized and helps in preventing system-wide shocks in cases of market volatility.
Deribit restricts access to users from certain countries due to legal and regulatory considerations. These countries typically include the United States and other jurisdictions that have strict regulations on derivatives trading and cryptocurrencies.
Deribit was founded by John Jansen and its ownership is private. As a privately held company, detailed information on ownership may not be publicly disclosed, but it was started by Jansen who has a background in options trading.
Deribit requires users to undergo a Know Your Customer (KYC) process, which involves providing personal identification information. This is a standard practice to prevent financial crimes and enhance security on the platform.
The liquidation fee on Deribit is incurred when a trader’s position is closed by the liquidation engine due to insufficient margin. The liquidation fee helps cover the administration of the liquidation process and the potential slippage in closing the position.
Specific rates can be found on their website and can vary based on market conditions.
Deribit User Reviews
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Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
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