Deribit Review

Deribit was founded in 2016 under the name Deribit B.V. It is located in Amsterdam at Stationsstraat 2 B 3851 NH, Ermelo. The members of the Deribit team are public, with an ex-trader from the Amsterdam Options Exchange as CEO – John Jansen, CTO – Sebastian Smyczýnski, CMO – Marius Jansen, Chief developer – Andrew Yanovsky

It is a top-class team that has created an excellent trading platform for the cryptocurrency markets. Deribit is one of the few platforms in the crypto market that offers options in addition to trading perpetual contracts with x100 leverage.

Deribit Features Review

Markets Crypto
Supported countries Worldwide
KYC NO
Leverage 100x
Deposits BTC
Min. Deposit 0.001 BTC
Max. Withdrawal Limit None
Trading fee 0.05%
Support live chat, e-mail
Mobile app iOS

Deribit Registration 

Registering on Deribit is very simple. It consists of a few simple steps as follows:

  1. Input your email address
  2. Input a Nickname / Alias, which will be displayed publicly.
  3. Fill in a strong password and confirm it.
  4. Select a Country of Residence. 
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Can I use Deribit?
The exchange is available worldwide, accepting customers from:

  • Europe
  • South America
  • Africa
  • Oceania
  • Asia

Sanctioned countries like North Korea, Iran are not allowed to use the exchange.

Is Deribit available for US citizens?

At the moment Deribit is not available for US citizens due to strict regulations and requirements set by the regulatory body of the United States. 

Deribit Security Review

Deribit has never experienced a security breach since its inception in 2016, of course, this doesn’t mean that it is 100% bulletproof. Deribit prioritizes security and has a robust system in place, matching the best security practices in the industry.

  • Hot and Cold storages with over 95% of the funds held in a cold wallet
  • Two Factor Authentication (2FA) 
  • Email 2FA
  • Extensive bounty program, encouraging people to report bugs and help with strengthening the security and the stability of the platform

Is Deribit safe?

Deribit is safe thanks to the high level of security and real-time auditing of the accounts combined with a liquidation engine detecting underfunded accounts. In addition, an insurance fund is set up to make Deribit more reliable and secure, as users can be compensated in case of a breach.

Deposit and withdraws

Unfortunately, Deribit deposits are limited to only one option – BTC. The absence of Wire, SEPA or Debit & Credit cards is a downside, however, this isn’t a big problem with all the available on-ramps for Bitcoin at the moment.

Withdrawals are also limited to BTC and are processed as quickly as possible depending on the available funds in Deribit’s hot wallet. If no funds are available in the wallet for withdrawal, you will have to wait until it’s replenished.

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Deribit User Interface Review

deribit user interface

deribit dark mode interface

The user interface of Deribit is professionally designed and has a dark mode by default. As the platform has both perpetual contracts and options, it comes with different layouts for each one as they contain different instruments. The interface holds a lot of information, especially on the options page, where you can find not only the list of options for the respective date.

Unfortunately, the interface is not as customizable as you would like it to be. It is set by default and you cannot move tabs to customize it to your liking.

Mobile App

Deribit has a well-rounded trading app for both iOS and Android.
To log into your account from the app, you need to set up the API on the desktop version of the website and synchronize it with a QR code.

mobile-UI mobile-UI-order  

The design of the interface remains in the same style as the desktop version. It is easy to navigate through the app. It runs smoothly on low-end mobile devices, providing the stability needed to open and close positions without any noticeable delay.

What are Options Contracts?

Options allow you to either buy or sell an asset at a pre-set price.

The layout on the options contracts is much more detailed and you have calls and puts with all of the information on the position you’re bidding on.

On the Options page you can follow all the changes to your portfolio with:

  • Exp. Date
  • PNL
  • Session UPL
  • Session RPL
  • Delta Options – The cumulative change in the value of all options in USD)
  • Gamma – Rate of changes of Delta with a 1$ movement)
  • Vega – Rate of change between options portfolio value and the implied volatility
  • Theta – Rate of change between total options portfolio and time in USD per day
  • Initial Margin
  • Maintenance Margin

deribit options

 

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Trading fees breakdown

Deribit has one of the lowest fee structures amongst cryptocurrency leverage trading platforms. There are no fees for deposits and withdrawal fees are actively being adjusted depending on the network load of BTC.

The fees for Futures, Perpetuals and Options contracts are as follows:

Bitcoin/BTC:

Futures Maker: 0.02% Taker: 0.05% Delivery: 0.025% Liquidation: 0.35%
Perpetual Contracts Maker: 0.025% Taker: 0.075% Delivery: 0.025% Liquidation: 0.375%
Options Maker: 0.04% Taker: 0.04% Delivery: 0.02% Liquidation: 0.19%

 

Ethereum/ETH:

Futures Maker: 0.025% Taker: 0.075% Delivery: 0.025% Liquidation: 0.90%
Perpetual Contracts Maker: 0.025% Taker: 0.075% Delivery: 0.025% Liquidation: 0.90%
Options Maker: 0.04% Taker: 0.04% Delivery: 0.02% Liquidation: 0.19%

 

Deribit has an insurance fund where part of the fees from liquidated positions goes to:

Bitcoin/BTC:
Futures: 0.30%
Perpetual: 0.30%
Options: 0.15%

Ethereum/ETH:
Futures: 0.90%
Perpetual: 0.90%
Options: 0.19%

Deribit Options and Order types review

Deribit leverage explained

The leverage on Deribit is cross margin where your funds cover all of your open positions. You are always operating with the max available leverage and you cannot change it, thus position management on the platform is very important as well as following your margin limits carefully. 

Available Assets and Contracts

The assets available for margin trading are BTC and ETH, however, this is compensated with options trading being a feature. Deribit Futures are open for Bitcoin and Ethereum with 2 options for different expiration dates.

Deribit Perpetual Contracts max leverage options:

BTC/USD: 100x

ETH/USD: 50x

For options trading, BTC and ETH contracts are with set dates. 


Order types

Deribit offers the standard order types: 

  • Market
  • Limit
  • Stop-market
  • Stop-limit orders

Additional Order Settings:

  • Good-till-cancel
  • Fill-or-kill
  • Immediate-or-Cancel
  • Post
  • Hidden
  • Reduce.

deribit order types

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Deribit Volume

Deribit has a daily trading volume hovering around USD 150 million. The exchange is in the top 10 by volume for Bitcoin perpetual contracts and options, falling behind Bitmex, Binance, and Bybit. It has a consistent daily volume due to its loyal user base and robust trading engine.

Affiliate program

The affiliate program is a nice addition to the platform, allowing you to generate some income stream from your referrals’ turnover volumes.

From direct referrals, you’ll receive 20% for the first six months, after that the commission is lowered to 10%. 

There is also level two of the affiliate program, where you’ll receive 10% for the first 6 months. After this period is over, there is no commission.

Commonly asked questions

Can I buy and sell bitcoin on Deribit?
You cannot directly buy or sell bitcoin on the platform as it is a leverage trading platform. You can buy or sell bitcoins for fiat on various other exchanges.

List of coins you can long and short on Deribit:

  • Bitcoin (BTC) 
  • Ethereum (ETH)

Where is the Deribit server located?
The servers of the platform are being relocated to London.

What time do Deribit options close?
The expiration time will depend on the option contract.

Conclusion

A unique platform that at first sight is more limited compared to its competitors, but has deeper and extensive Options contracts available for trading.

Deribit is focused on being the best in a specific niche, as its main feature is futures and options, both well designed and ready to aid you during trading sessions.

Let’s not forget that it hasn’t been breached since day one as it is of the exchanges with the highest security and stability standards. It is also suitable for longer-term open positions compared to the other platforms out there.

Pros / Cons
  • Futures and Options trading
  • High leverage
  • High security
  • Insurance Fund
  • Only BTC and ETH trading
  • Limited deposit and withdraw options

no Deposit Bonus

Deribit is a leverage trading platform offering not only perpetual contracts trading with 100x but options trading for the more advanced traders.

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