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Deribit Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Deribit logo
3.61
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Deribit

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

In the competitive landscape of crypto derivatives exchanges, Deribit emerges as a potent option for those seeking a platform that specialises in options and futures trading. With its extensive range of financial products, emphasis on security, and user-friendly experience, the exchange is poised to cater to the needs of discerning crypto traders.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Advanced trading options
  • High liquidity for options and futures
  • Strong security measures
  • Low latency trading infrastructure
  • Competitive fee structure

Cons

  • Complex for beginners
  • Limited spot trading options
  • Primarily crypto-to-crypto transactions
  • No fiat currency support
  • Potentially limited customer service availability

Quick Summary

Headquarters Location Panama City, Panama
Fiat Currencies Supported USD, AUD, CAD, EUR + 10 others (some through third party apps)
Total Supported Cryptocurrencies 17+
Trading Fees 0%
Deposit Methods Cryptocurrency, Banxa
Support Twitter, Live Chat, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Welcome to a comprehensive look at Deribit, a distinguished name in the realm of cryptocurrency trading. Here, we delve into various facets of the platform, from its inception to its current standing in the market.

Deribit homepage

Since its inception, Deribit has had a clear directive: to provide a cutting-edge platform for cryptocurrency derivatives trading. With an offering that caters to the needs of the modern trader, it’s a platform where precision and speed are paramount.

The exchange has shown an unwavering dedication to staying ahead of market trends and technological innovations, ensuring that it remains a relevant and preferred choice for those invested in the dynamic realm of digital asset trading.

About Deribit

Deribit began its journey in the crypto space as a vision of its founders, John Jansen and Marius Jansen, alongside its developers Sebastian Smyczýnski and Andrew Yanovsky. Incorporated in 2016 under Deribit B.V., it is registered in the Netherlands but operates from the Virgin Islands.

The platform has quickly risen to prominence, focusing primarily on Bitcoin and Ethereum options and futures trading, capturing significant market share amongst crypto derivatives exchanges.

Deribit features

As Deribit’s influence in the cryptocurrency market has grown, it has navigated through various cycles of innovation and regulation that have shaped the industry. The exchange’s journey is marked by its ability to adapt to the relentless pace of change in the digital finance sector.

By introducing complex instruments like perpetual futures contracts and European-style options, Deribit has not only demonstrated resilience but also foresight in anticipating the needs of the market and its participants.

Deribit has a number of active social profiles including Facebook, Twitter, LinkedIn, Reddit, Telegram and YouTube.

Deribit has a mobile app on both the Apple App Store and Google Play.

Deribit Supported Cryptocurrencies

Deribit supports trading on over 17 cryptocurrencies on their platform. This exchange currently supports 16 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Shiba Inu (SHIB)
  • Uniswap (UNI)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Immutable (IMX)
  • Aptos (APT)
  • Ethereum Classic (ETC)
  • Cosmos (ATOM)
  • Stacks (STX)
  • Filecoin (FIL)
  • NEAR Protocol (NEAR)
  • UNUS SED LEO (LEO)
  • Kaspa (KAS)

View all cryptocurrencies Deribit supports

  • ADA
  • ALGO
  • AVAX
  • BCH
  • BTC
  • DOGE
  • DOT
  • ETH
  • LINK
  • LTC
  • MATIC
  • NEAR
  • SOL
  • TRX
  • UNI
  • USDC
  • XRP

Trading Experience

Deribit’s trading platform is tailored to meet the demands of both novice and seasoned traders. The interface comes equipped with a variety of tools and features that cater to detailed analysis and efficient trading strategies.

Its position builder and calculation mechanisms are particularly noteworthy, enabling traders to manage their positions and risks with precision.

Trading on Deribit is designed to accommodate the nuanced requirements of advanced traders and trading firms. The platform’s sophisticated risk management tools, such as the position builder and calculation mechanisms, enable traders to evaluate their potential profits and losses across different market conditions.

Moreover, traders have access to a plethora of market data, which is vital for informed decision-making and crafting nuanced trading strategies.

Deribit exchange marketing

Deribit Fees

Understanding the fee structure is critical when choosing a crypto exchange. Deribit employs a multifaceted fee schedule that revolves around the type of trade executed, whether it involves options or futures contracts.

The platform typically uses a maker-taker model which incentivises market liquidity while maintaining a competitive edge.

The fee structure at Deribit is crafted to cater to the diversity of its user base, which ranges from casual enthusiasts to professional traders. By employing a maker-taker fee model, the exchange encourages users to contribute to the platform’s liquidity, ensuring efficient price discovery and execution of trades.

Additionally, the platform provides incentives such as volume discounts which benefit users with high trading activity, reflecting its understanding of the importance of cost-efficiency in trading strategies.

Type Fee
Trading Fee 0%

Deribit supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC compared to the industry average of 0.000075 BTC. So Deribit has a fee that is above the industry average by 566.67%.

Security - Is Deribit Safe?

Investors’ peace of mind is paramount, which is why Deribit prioritises stringent security measures. The majority of user funds are secured in cold storage, with a minimal amount in hot wallets to facilitate day-to-day withdrawals.

Moreover, the platform boasts two-factor authentication for accounts and an insurance fund designed to shield users from the risks associated with bankrupt traders.

On the frontline of asset protection, Deribit has implemented multi-factor authentication, a feature that adds an additional layer of security to user accounts. The exchange also employs real-time monitoring to detect and thwart security threats.

Its insurance fund further solidifies its commitment to protecting traders from the financial implications of counterparty risk, ensuring that the platform can cover losses that might arise from unforeseen market anomalies.

Deribit Customer Support

Customers are provided with support through various channels, including an email address for inquiries. Deribit promotes an affiliate program that rewards users for referrals, indicating a community-focused approach.

Additionally, the platform offers a wealth of explanatory videos, catering to experienced users seeking to optimize their trading experience.

Support is a cornerstone of the customer experience on Deribit. Recognising the diversity of its clientele, the exchange offers resources that cater to both novice users seeking guidance and experienced traders aiming to refine their approach.

The availability of detailed explanatory videos serves as a testament to Deribit’s commitment to education and transparency, fostering a sense of community among its users.

Deribit support

Deribit Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Deribit

  1. Create Account - Visit the Deribit website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Banxa

Deribit Alternatives

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
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Trading Fees
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Fiat Currencies Supported
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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
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Fiat Currencies Supported
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OKX logo

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Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

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Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

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Final Thoughts

Deribit has established itself as a robust platform with a keen emphasis on advanced trading options. Its commitment to delivering deep liquidity and a wide range of products makes it a significant player in the derivatives market.

The trajectory of crypto exchanges is intertwined with the broader financial landscape and technological advancements. As digital finance evolves, the demand for innovative and secure platforms will likely increase.

The role of exchanges like Deribit in facilitating access to a wide spectrum of financial products while maintaining market stability will be crucial as the digital economy expands, potentially influencing regulatory frameworks and the development of decentralized finance models.

Deribit FAQs

Deribit has implemented a range of security measures to protect its users’ funds and data. These include cold storage of the majority of assets, two-factor authentication (2FA), and mandatory whitelisting of withdrawal addresses.

However, as with any online platform, users should be aware of the risks associated with trading and storing assets digitally.

Deribit’s fee structure varies depending on the product being traded. For instance, they charge a maker and taker fee for both futures and options trading, with the specific rates available on their website.

Fees are generally competitive with other trading platforms.

Deribit is not regulated by any major financial regulatory body. The platform operates out of Panama, and while they implement security measures and practices common in the industry, they do not have the same level of oversight as a regulated exchange.

The Deribit risk engine is a real-time risk management system that monitors and manages the risks associated with the products offered on the platform. It ensures that all trades are collateralized and helps in preventing system-wide shocks in cases of market volatility.

Deribit restricts access to users from certain countries due to legal and regulatory considerations. These countries typically include the United States and other jurisdictions that have strict regulations on derivatives trading and cryptocurrencies.

Deribit was founded by John Jansen and its ownership is private. As a privately held company, detailed information on ownership may not be publicly disclosed, but it was started by Jansen who has a background in options trading.

Deribit requires users to undergo a Know Your Customer (KYC) process, which involves providing personal identification information. This is a standard practice to prevent financial crimes and enhance security on the platform.

The liquidation fee on Deribit is incurred when a trader’s position is closed by the liquidation engine due to insufficient margin. The liquidation fee helps cover the administration of the liquidation process and the potential slippage in closing the position.

Specific rates can be found on their website and can vary based on market conditions.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: