Deribit

Deribit started as a bitcoin futures and options platform and then it was realized that more services could be offered due to the choices made regarding technology and infrastructure that powers the platform.

It is expanding every day and new cryptocurrency trading products are under development and these choices have resulted in high availability, high throughput, and low latency trading environment. Deribit Exchange has a team of 8 people that are working on the platform and their office is run daily from Amsterdam, Netherlands.

As a crypto app Deribit offers a lot of leverage as high as 1:20 and as for the mid-market price, it is an index called the Deribit index which is derived from the average prices from 5 major exchanges. The expiration price also uses the average of the Deribit index but it is derived from the prices indicated for every 6 seconds starting from 30 minutes prior to the trading settlement day.

To place, a market order in Deribit is simply done when you outbid the order book and in order to minimize the fee, you should select “post-only” so the order does not get matched instantly. Once the order is placed, the order will then move to open orders or positions but you can still edit or cancel the order under the open order tab.

However, take note that the platform does not allow you to trade protections such as stop loss or take profit and you also cannot close your position under the open order tab. To set your stop loss, you will take profit level or close your position from the trade slip.

Deribit Features

• Allow you to trade & watch the order book and recent trades
• Support different types of orders such as limit, stop limit, hidden, post only
• Allow you to see and close future positions
• It allows you to close open orders
• Allow you to edit orders
• Allow you to see your trade history
• Give you the option of trading
• Watch order book and recent trades
• Allow you to see your options positions
• Shows BTC deposit address

Pros

• Anonymous accounts allowed
• European vanilla options are available
• Fast trading
• Low fees
• Solid security
• Test platform for getting used to the site made for beginners
• Experienced broker

Cons

• No android app
• Allows on bitcoin site
• Have issues with liquidity

Fees

On top of the futures contract price of $10 per contract, there is a Maker fee of 0.02% and a Taker fee of 0.05%. For options trading, the underlying fee is 0.04% per option contract for both makers and takers.

Other applicable fees included the following:

Settlement (Deliveries)

• 0.025% Futures
• 0.02% Options
• For options, the fee is never more than 20% of the option’s value.

Liquidation Fee

• 0.15% for futures trades (0.1% will go to the insurance fund)
• 0.1% of the underlying option contract

FAQ

How do I open an account with Deribit?

To open an account with Deribit, all you need is to register and provide an email address for the account.

Do I have to verify my account?

No, You are not required to verify your account.

What are the trading fees like?

For futures, the taker fee is 0.05% and there is a rebate for makers of 0.02% in the futures. Options fee is 0.04% fee

Where is Deribit located?

Deribit is located in the Netherlands and its office is located at Stationsstraat 2b, 3851 Ermelo, Netherlands.