Deribit Review

This Deribit review consists of a full-scale overview on one of the most secure leverage trading platforms in the crypto industry.
Deribit is founded in 2016 based in Amsterdam under Deribit B.V. company located at Stationsstraat 2 B 3851 NH, Ermelo. The platform is one of the few on the crypto market that offers options besides perpetual contracts trading with 100x.

Members of the team are an ex-trader from the Amsterdam options exchange John Jansen, as the CTO we have Sebastian Smyczýnski, Marius Jansen as CMO and Andrew Yanovsky as the lead developer. With such a high profile team they have done a tremendous job delivering a trading platform unique in this industry.

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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 Security Review

Deribit is one of the platforms that have not experienced a breach since its inception in 2016, of course, this doesn’t mean that it is 100% bulletproof. With hot and cold wallets thrown in the mix, the security is up to a notch with over 95% from the funds held in a cold wallet.

You can thank their extensive bounty program that is encouraging people to report bugs and help strengthen the platform.

Their security is going on level up with the real-time auditing of the accounts combined with a liquidation engine detecting underfunded accounts.

Deribit also has an insurance fund which adds up more to the reliability and the security of the user funds as in case they are stolen, they can be refunded.

Deposit and withdraws

Unfortunately, Deribit deposits are limited as it has only one option – BTC only, no Wire, no SEPA or debit/credit cards. Of course, I don’t think that this will be a big problem with all the good on-ramps for Bitcoin available at the moment.

Withdrawals are also only in BTC and are processed as soon as possible depending on the liquidity in their Hot wallet. If there are no available funds in the wallet for withdrawing you will need to wait for them to refill it, transferring funds from the Cold wallet to the Hot wallet.

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Deribit User Interface Review

deribit user interface

deribit dark mode interface

The user interface of Deribit is a well designed and effective in a professional way. Having both perpetual contracts and options the platform has different layouts for each as those are different instruments. Designed for professional traders the interface contains a lot of information, especially on the options page where you have not only the list of Options for the specific date but also Recent trades calls/Recent trades Puts.

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

What are Options?

Options contracts give the right, without the burden to either buy or sell an amount of the underlying asset at a pre-set price.

deribit options

The layout on the options contracts is much more detailed and you have calls and puts with all of the information on the position on which you are biding.

On the Options page you will find a tab where 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
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Trading fees breakdown

Having the standard fees for the leverage trading space Deribit is taking its place with one of the lowest fees on the market. There are no fees for deposits, for withdrawals the fee depends on the network of BTC/ETH.

The fees for Futures, Perpetuals and Options contracts are different with:

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%

 

As Deribit has an insurance fund part of the fees from liquidating positions goes to it:

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

On Deribit the options for trading are very few as you can only trade on BTC and ETH but this is compensated with the options trading as this is one of the few platforms that offer it. Futures are open for BTC and ETH with 2 options for different dates expiration.

Perpetual Contracts max leverage:

BTC/USD: 100x

ETH/USD: 50x

On the options front, you have again BTC and ETH with set dates. For those that like something different with set parameters, options market may be for you.

For the order types, Deribit offers the standard market/limit/stop-market/stop-limit and of course you have the additional options for your orders like Good-till-cancel/Fill-or-kill/Immediate-or-Cancel. On the bottom, you can also find Post/Hidden/Reduce options.

deribit order types

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Affiliate program

The affiliate program on the platform is good, but when you compared it to leaders in that field like PrimeXBT/Bitmex/Bybit, Deribit is behind.

From direct referrals, you get 20% for the first six months, after that the commission falls to 10% from the trading fees on the platform

There is a level two where you get 10% for the first 6 months after those 6 months are over there is no commission from your level two.

This is not the best affiliate program but still can create a good income for a set period of time.

Is Deribit a scam?

Deribit is far from a scam as it is a unique platform with its deep options available for trading. Finding a similar platform with the same instruments  (options and futures) for BTC and ETH will not be easy. They also have an insurance fund which is one more characteristic so you can trade without any hiccups.

Conclusion

A unique platform that is in a first sight more limited compared to the others but it is also deeper with its extensive Options available for trading. There is still more that can be added such as more instruments, more assets, and deposit/withdraw options. If you decided to trade on Deribit you are bound to have a good time as it offers everything so you can have good trading sessions and make a good profit on the market movement.

Having less sometimes is more as here you will be able to concentrate on the two assets with a clearer picture and create big opportunities for profit.

Deribit is a platform that is for a niche, as its main feature is futures and options, both well designed and ready to aid you in becoming the ultimate trading machine.

Let’s not forget that this exchange has not been breached since day one and is one of the exchanges with the highest security and stability. In addition to that, Deribit is planning on launching a brand new layout with another set of features as per their road map for 2019. If you are looking for a professional trading platform with a dose of seriousness in it, consider Deribit as it is also suitable for long 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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