Andrew Munro is the cryptocurrency editor at Finder. He was initially writing about insurance, when he accidentally fell in love with digital currency and distributed ledger technology (aka “the blockchain”). Andrew has a Bachelor of Arts from the University of New South Wales, and has written guides about everything from industrial pigments to cosmetic surgery.
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.
The fees below are accurate as of 15 November 2019.
Platform trading fees
BTC and ETH futures
BTC and ETH perpetual
BTC and ETH options
0.04% of underlying contract
0.19% of underlying contract
Deposit and withdrawal fees
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?
On the home page, click “create account” beneath the sign-in box. This will take you to a screen that asks for your email, alias, password and country of residence.
Note that USA-based customers are not allowed to use Deribit, per its terms and conditions.
You will receive an email at the address you entered. Open the email and follow the prompts to verify your address.
Once you’ve set up your account, you can make a deposit.
Even though you can trade both BTC and ETH derivatives, only Bitcoin is accepted.
Once you’ve funded your account, you can start trading. Browse the available products and make sure you know how they all work before you start trading.
If you’ll be using leverage, make sure you’re aware of the costs and functionality of that as well.
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.
Compare Deribit against other exchanges
Frequently asked questions
Deribit can be used around the world, but it does not allow users from the United States.
Yes. Deribit offers an iOS and Android app.
Deribit reserves the right to ask customers for information such as their name and address or to collect information from third parties in order to meet its AML/KYC obligations.
The information you have to provide may vary based on what kind of risk you present in terms of factors like your trading volume or deposit size.
Deribit doesn’t have any distinct help section or clear customer service presence, but it invites users to email it if they have any questions or concerns.
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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