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Review: Deribit cryptocurrency exchange

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See what it’s like and find out the pros and cons of trading cryptocurrency on this professional exchange.

  • Good for experienced traders to trade with less than 1 ms latency
  • Not so great for beginners

No supported

Fiat currencies

2

Cryptocurrencies

Details

Product Name Deribit Cryptocurrency Exchange
Fiat Currencies -
Cryptocurrencies BTC, ETH
Deposit Methods Cryptocurrency
Trading Fee Maker: 0.02-0.025%
Taker: 0.05-0.075%
Deposit Fees None
Withdrawal Fees Depends on the current state of the Bitcoin network

Pros

  • Ultra-low latency trading with up to 100x leverage
  • Futures, options and perpetual
  • Incremental auto liquidation

Cons

  • BTC deposits only
  • A steep learning curve for people without experience in options or futures trading
  • Comparatively small insurance fund
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Learn more about Deribit

What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: None
  • Supported cryptocurrencies: 2 cryptocurrencies
  • BTC
  • ETH

Which payment methods are accepted?

  • Cryptocurrency

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

Fee type Amount
Maker fee -0.025% (rebate)
Taker fee 0.075%
Delivery fee 0.025%
Liquidation fee 0.5%

BTC and ETH perpetual

Fee type Amount
Maker fee -0.025% (rebate)
Taker fee 0.075%
Liquidation fee 0.5%

BTC and ETH options

Fee type Amount
Trading fee 0.04% of underlying contract
Liquidation fee 0.19% of underlying contract

Deposit and withdrawal fees

Deposit fee Bitcoin network fees
Withdrawal fee None

How fast will my funds be available?

Deposits

Clock icon for transfer speed

One confirmation

Bitcoin deposits are credited to your account in one confirmation, which will typically take about five minutes.

Withdrawals

Clock icon for transfer speed

Usually immediate

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?

Back to top

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

Pros

  • 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.

Cons

  • 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.

Compare Deribit against other exchanges

Name Product Deposit methods Fiat Currencies Supported Cryptocurrencies
BPAY
Cash
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POLi
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BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, TRX, DASH & over 120+ more
CoinSpot is an Australian-based marketplace that allows you to easily buy, sell or trade more than 100 cryptocurrencies.
Cryptocurrency
Electronic Funds Transfer
POLi
SWIFT
PayID
AUD, NZD, USD
BTC, BCH, ETH, LTC, XRP, OMG, ZRX, EOS & 3+ more
Trade AUD and other fiat currencies against a wide range of cryptos at competitive rates.
BPAY
Cryptocurrency
Electronic Funds Transfer
Osko
PayID
AUD
BTC, ETH, XRP, LTC, XLM, ETC, OMG, GNT, BAT, POWR, BCHABC, BCHSV
Browse the various coin offerings of this Australian based exchange, where coins can be purchased using AUD, LTC and BTC.

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Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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