Deribit has already become so popular that the demand for a Deribit review has increased steadily. For those who do not know, Deribit is a trading platform for Bitcoin. This trading platform enables investors from around the world to take part in futures and options trading. In fact, the very name of the platform has been cleverly crafted by the team of developers. They added the initial letters of two words, Derivates and Bitcoin. Thus came into existence, the name of the website Deribit.
As the name suggests, the platform enables users to make deposits and withdrawals, using Bitcoins. In addition, the users can also use Bitcoin to collateralise trades. Moreover, while trading Bitcoin futures, Deribit allows its users to take advantage of up to 100x leverage. However, it is true that it is not a well-known future exchange. In spite of that, the platform is steadily growing in popularity.
In fact, it is slowly promoting itself as a great futures trading alternative to trading enthusiasts. Therefore, due to the platform’s growing popularity, the necessity for a proper Deribit review is also increasing. If you are interested in knowing about the various aspects of Deribit, then this article is the perfect stop for you. Keep reading this article to get the most comprehensive Deribit review.
A Brief Introduction
As the name might already suggest, Deribit is a derivative exchange. The company is based in the Netherlands, with its headquarters in Amsterdam. The developers behind this exchange launched it back in 2016. It is registered under the name Deribit B.V. In addition, it also has an official address at Stationsstraat 2 B, 3851 NH, Ermelo, The Netherlands.
The company’s current CEO, John Jansen and the CTO Sebastian Smyczýnski joined hands to establish this company. Both of them are trading and Bitcoin enthusiasts. Therefore, they wanted to develop the platform so that it caters to their passions. In fact, the team behind this company also includes the likes of CMO Marius Jansen and Lead developer Andrew Yanovsky. The team is indeed really transparent and that has been one of the reasons behind its growing popularity.
However, this platform operates only in Bitcoin and is also acting as an unregulated broker. This is primarily due to the fact that European regulators have not yet classified cryptocurrencies as financial instruments. In spite of that, the platform can be accessed from 100 countries around the world.
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Deribit review: Salient Features
This is, in fact, one of the most important components of the Deribit review. In fact, we always look for the important features of anything before we try that out ourselves. Deribit also has some important features:
- The platform aims at dishing out advanced technologies. Therefore, it allows its users to trade through their trade engine, featuring less than 1MS latency. In fact, you can also execute trades through a mobile, web interface or API. In addition, various trading bot software like as HaasOnline, BotVS, and Actant are included in the platform.
- The user interface is very simple. The interface also features various interesting functions like futures, indexes, and volatility charts. In addition, there is also a wide range of statistics and technical analysis indicators.
- The trading options provided by Deribit are also extensive. In fact, the platform enables users to have access to both Options and a Futures exchange. Leveraged trading at up to 10x leverage is also provided by Deribit.
- Deribit can boast of a very well-equipped customer support team. The users can easily contact the customer support team through Twitter, Telegram and Email.
Getting Started With Deribit
This is yet another important section of the Deribit review. It is very easy to get started on Deribit. The Deribit website includes the option to log in and register at the very centre. To get started, you need to click on the option “Create Account”. You will need to provide your email address, username, password and county of residence in order to create an account on Deribit. Then, after confirming your email via a link that will be sent on your provided email id, you can access your account.
The next important thing that you need to do is to click on the “Deposit” option, which is displayed at the top right of the page. This will allow you t deposit Bitcoin in your Deribit account. The withdrawal process is also simple. You can access the “Withdrawal” tab in the “My Account” option. The withdrawal fee varies with varying priority levels.
Deribit review: Fees and Supported Currencies
As the name might already suggest, the platform supports transactions through Bitcoin. Till now, it does not support the flat currency. In fact, there are no deposit fees in Deribit. However, there is a withdrawal fee depending on the Bitcoin network’s mining fees. Perpetual contract orders that provide liquidity receive a rebate of 0.025%, while orders that take liquidity incur a fee of 0.075%.
Concluding Lines
Deribit uses cold storage. This is used in order to secure its users’ funds. This very fact makes it a safe platform for use. However, the same fact might result in lower customer withdrawals. In addition, Deribit incorporates two-factor authentications (2FA). However, you need to enable this function after you successfully log in.
The security is further strengthened by IP pinning. In addition. The platform has an insurance fund in order to make up for any loss. Thus, Deribit is safe for use. It is, however, not suitable for beginners and operates in a bit complicated manner. With this, we arrive at the end of our Deribit review.
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