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DERIBIT Crypto Margin Trading Exchange Review

Deribit is a BTC trade platform that allows users to perform trading of options and futures.

The idea for the name of Deribit comes from using the first letters of Derivates and also Bitcoin. User of the platform can utiliza BTC for deposits and withdrawals and also for trades collateralization.

Deribit also gives the traders the option to use up to 100X leverage for BTC futures trades. Although Deribit is not so well recognized and known as the other crypto exchanges for futures, it is well growing and becoming popular and attractive for users who are vigorously involved in trading with futures.

Overview

Deribit is an exchange for derivatives localized in the Netherlands. Its team and operations are based in Amsterdam. Launched in 2016, the platform is registered with the name Deribit B.V. and has a physical address which is Stationsstraat 2 B, 3851 NH, Ermelo, The Netherlands.

Deribit was launched by two BTC enthusiasts – John Jansen and Sebastian SmyczΓ½nski who decided to create a platform that serves their passion. Deribit team is very transparent, its CMO is Marius Jansen and Andrew Yanovsky is the lead developer.

All platform transactions are processed in BTC. The platform acts as a not regulated broker as EU regulators still do not have a classification of cryptocurrencies serving as a financial instrument and the process of having an integrated framework is still ongoing.

The platform serves residents of 100+ countries and users are offered free withdrawals and deposits, 100x leverage and very competitive trade fees.

Derbit is a great choice of crypto margin trading exchange for both begginer and advanced traders.

Features @ Deribit

Functionality features – Deribit uses web based trade platform with easy and intuitive user interface and many functions and features such as trade history, book of orders, current trades etc. At Deribit you can also find futures, indexes, a volatility chart, statistics, tech analysis, and useful data for options and futures trading.

Technology features – Deribit is very tech advanced and users are given the chance to trade with trading match machine with latency under 1 MS. You can also trade through web interface, API and mobile /Android and iOS/ and also there is trading bots like HaasOnline, Actant, BotVS etc. Additionally, there is cold storage so user funds are secured.

Trade options – the platform many trade options and users can access Futures/ Options exchange. Deribit offers leverage trading – up to 10x and Bitcoin futures – with leverage up to 100x. Traders can utilize margin and practice their trade skills and strategies on the Deribit test platform with demo currency worth 10 bitcoins.

Customer service – The website offers service in many languages such as English, Chinese, Spanish, Russian, Japanese, Korean, Turkish. There is a support team available to solve issues you might experience. You can contact Deribit thorough Twiter or by using the Telegram group.

There is a blog and documents page and also a section for frequently asked questions that has the answers of many questions. Deribit has a Youtube channel where there are many videos on trading topics you might find useful.

Contact us:

Departmente-mail:Services:
General support[email protected]General questions regarding the exchange.
Feedback[email protected]
Any feedback is appreciated. Also use this email address for bug bounties.
Investor relations[email protected]
Interested in partnering up with Deribit? Please contact us here.
Business and Press[email protected]
Technical/API support[email protected]Please send any technical questions regarding API connectivity here. This will send an email straight to one of our developers.

Once you enter Deribit website you can see the login and registration panel in the middle of the page and you can start when you click Create account.

Start trading with Deribit

Create an account

You can register very fast and easy when you enter your email, name address, password and country of residence.

Once you confirm the email address with the confirmation link you received , you are all set up and ready to access your new account.

How to Deposit

At the top righ corner under your name and profile icon you can find a list of options – deposit being one of them. Once you click on it you will be presented with the Deposit screen. You can have an address for a deposit generated and this will allow Bitcoin transfer to your account. Once the transfer is processed, Deribit will require 1 confirmation and you will be able to start trading.

The process of withdrawal is very straightforward as well. Again, you can access Withdrawals from the list under the profile icon. Once you are presented with the Withdrawal page you have to type in your bitcoin wallet address and the amount you wish to withdraw. There a few priority options ranging from Insane to Very Low. Your choice has a corresponding fee – the higher priority you choose, the higher fee you need to pay.

Select Bitcoin Options/ Futures Trading

If you wish to select your desired type of trading you can do so by navigating your Deribit account. Main options you can see to the left of the dashboard and all the other features are positioned centrally.

If you wish to select your desired type of trading you can do so by navigating your Deribit account. Main options you can see to the left of the dashboard and all the other features are positioned centrally.

Deribit Currencies and Fees

Deribit is a platform for BTC futures/ options and in order to use it you must deposit BTC in your account. Currently there is no support regarding fiat deposits – for that you can try other exchanges as Coinbase, Kraken, Gemini and then transfer to Deribit.
There are no deposit fees but there are withdrawal fees depending on the mine fees of the BTC network.

In the table below you can find out some of the fees:

Types of feesValue
Perpetual ContractsMaker Rebate: 0.025%
Taker Fee: 0.075%
FuturesMaker Rebate: 0.025%
Taker Fee: 0.075%
Options0.04% of underlying or 0.0004 BTC/option contract
Fees can also never rise higher than 12.5% of the price of the option.
Futures liquidation fees0.35%
Perpetual contracts liquidation fees0.375%
Options liquidation trades0.19% of underlying or 0.0019BTC/options contract

Deliveries

Deliveries have half of the fees:

  • Futures – 0.025%
  • Perpetual Futures – 0.025%
  • Options – 0.02%  

Is Deribit Safe?

As we mentioned there is the so called cold storage securing traders’ funds with around 95 % of all crypto currency secured in such a way. This also helps Deribit stay resilient to any hacker attacks but can also impact the withdrawals.

Additionally, the platform secures customers account via 2 factor authentication – this is not a default function though – you have to activate it yourself after you log in.

We have to mention the IP pinning as well – this feature provides security as it identifies any IP address change during sessions and terminates them if it detects any. Also, you can change the timeouts of the sessions – these can vary from one hour to one week.

Despite all of this, our advice is to always keep your fund in secure wallets outside the exchange and only keep them within the exchange when you are using them. Deribit also has an insurance fund in order to cover any losses of traders who went into bankruptcy.

I am a beginner trader – is Deribit Suitable for Me?

Beginners in the crypto currency world are used to trading crypto for digital and fiat currency. Nevertheless, Deribit offers trading in the complicated derivatives area and might not be very suitable if you are just starting out with crypto trading.

Additionally, leveraged and margin trading carry a great risk level which makes trading of futures and options suitable for experienced users.

But this is why the Deribit team has created the testnet zone where you can practice with demo funds and at the same time learn and get used to the Deribit interface and the various analytical and statistical tools.

The team have also made a number of resources available aimed at helping traders to improve their skill sets and these include a Blog, a Docs page, an FAQ page in the members section, and a YouTube channel which contains a number of explanatory videos.

Deribit Advantages and Disadvantages

πŸ™‚ PROSπŸ™ CONS
βœ“ Team is transparent
✘ It is not regulated
βœ“ Futures/ options trading is available✘ For all activity you can use only Bitcoin
βœ“ Competitive trade fees✘ No support for fiat trading
βœ“ No fees for deposit /withdrawal✘ Not for beginner traders
βœ“ High leverage

Conclusion

Deribit offers trading of BTC derivatives and also gives access to options/ futures trading. The platform has many features that give it an advantage over other exchanges like Bitmex or Digitex. Some of these features are – low trading fees, high leverage, trading test platform, insurance fund.

However, Deribit is not a regulated exchange due to the lack of EU regulations. Also as it offers the derivatives option which is a complicated field, the platform may not be very suitable for novice traders

There is no support for fiat and the accounts are held strictly in BTC which may leave traders unprotected regarding the volatile nature of BTC. Deribit is not available to the residents of Canada, United States and the Netherlands

FAQ

Yes. 99% of users funds are kept in cold wallets.

Yes. You can visit https://test.deribit.com/ where you can create an account and start testing the platform.

No. We do not delete Deribit account. We can put the account in a lock state and trading is not available anymore.

There are two leverage types: operating and financial. Fixed operating costs are measured by the operating leverage. The effect of interest expences is measured by the financial leverage

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