Review: Deribit cryptocurrency exchange
|Product Name||Deribit Cryptocurrency Exchange|
|Withdrawal Fees||Depends on the current state of the Bitcoin network|
Learn more about Deribit
What fiat and cryptocurrencies are supported?
- Supported fiat currencies: None
- Supported cryptocurrencies: 2 cryptocurrencies
Which payment methods are accepted?
What's it like to use Deribit?
Fees and limits
The fees below are accurate as of 15 November 2019.
Platform trading fees
BTC and ETH futures
|Maker fee||-0.025% (rebate)|
BTC and ETH perpetual
|Maker fee||-0.025% (rebate)|
BTC and ETH options
|Trading fee||0.04% of underlying contract|
|Liquidation fee||0.19% of underlying contract|
Deposit and withdrawal fees
|Deposit fee||Bitcoin network fees|
How fast will my funds be available?
Bitcoin deposits are credited to your account in one confirmation, which will typically take about five minutes.
Withdrawals are typically processed and sent on their way instantly. Sometimes there will be a delay as the hot wallet needs to be replenished from the cold wallet. This is done once per day.
Is Deribit safe to use?
- Regulation. Deribit is largely unregulated.
- Verification process. Deribit reserves the right to collect personal data from users and other sources to comply with its AML/KYC obligations where necessary.
- Security features. Deribit holds more than 99% of customer funds in cold storage at any given time and maintains an insurance fund to cover traders in the event of lopsided market conditions. However, in extreme market conditions that drain the insurance fund, Deribit may cover losses by profits made from traders on the platform on a pro-rata basis.
Deribit went live in 2016 after several years of development. It was created by a team of veteran cryptocurrency and traditional market traders. It has never been hacked and has consistently maintained its performance.
The platform is well known and highly regarded. However, unregulated cryptocurrency derivative trading is inherently high risk on any platform.
How do I create an account at Deribit?
What else do I need to know about Deribit?
Deribit is based in the Netherlands, and its team hails from the region.
The CEO and co-founder is a former Amsterdam Exchange options trader, while the COO and co-founder started trading Bitcoin back in 2013.
Deribit was built on an entirely proprietary framework, making it a functionally unique offering in cryptocurrency. It claims to have the outright fastest high-performance cryptocurrency derivatives exchange in the world that is able to handle large amounts of requests with ultra-low (less than 1ms) latency.
In a nutshell
- High speed. Deribit offers ultra-low latency trading with up to 100x leverage.
- Futures, options and perpetual. Many exchanges offer Bitcoin futures and perpetual swaps, but Deribit also offers "vanilla European style" options.
- Professional. The platform and contract style will feel familiar to any experienced traders who want to try their hand at Bitcoin.
- Incremental auto liquidation. Instead of just getting "rekt", traders with under-collateralised positions are incrementally liquidated with automatic sell-offs.
- BTC deposits only. You can only fund your account with BTC.
- Steep learning curve. People without experience in options or futures trading may find a steep learning curve at Deribit.
- Comparatively small insurance fund. Although it's never been a problem before, Deribit's insurance fund is comparatively small compared to other platforms like BitMEX.