Deribit Review

Trading crypto derivatives can feel like stepping into the unknown, but it doesn’t have to be overwhelming. What if there was a platform that simplifies the process while still offering advanced tools for both beginners and experienced traders? That’s where this Deribit review comes in.

Known for its strong focus on crypto options trading, Deribit has attracted a diverse range of users. But what is Deribit, and how does it compare to other well-known derivatives trading platforms like Bybit or Binance?

Let's find out all those answers in this Deribit exchange review, along with the exchange's pros and cons, so you can decide whether is Deribit safe and noteworthy to try out.

Verdict at a Glance: Deribit is a fast exchange for crypto derivatives traders, offering up to 50x leverage for perpetuals and advanced tools for Bitcoin and Ethereum trading. As you’ll find when reading user Deribit reviews, the optional KYC helps improve security, but beginners might find the platform tricky to use due to its pro-level features. Further, for those asking, does Deribit exchange work in the US? Sadly, at the moment, there is no Deribit USA.

What is Deribit?

So, let’s break this Deribit review down, starting from the basics. Deribit is a trading platform launched in 2016 by John and Marius Jansen, along with Sebastian Smyczýnski.

Originally based in Europe, Deribit eventually moved to Panama as the country is more flexible when it comes to crypto regulations. However, as of recently, Deribit is in big talks to move its headquarters to Dubai, which has become an even more welcoming environment for crypto exchanges.

But what aspects really set the platform apart? At its core, Deribit focuses on trading crypto derivatives like Bitcoin and Ethereum, which has made it a go-to spot for those looking to trade more than just regular assets.

On Deribit, you can trade futures, perpetual swaps, and options. You may ask, what are options, specifically? Think of them like contracts that give you the right to buy or sell something later at a specific price. There are two kinds of options in crypto:

• Cash-settled options: traders, instead of receiving the actual underlying asset, will get paid the difference between the agreed price (strike price) and the current market price in cash.^[1] Simply, you're just "dealing with the money".
• Physically-settled options: traders will actually receive the underlying asset. Let's say you're trading a physically-settled Bitcoin option. You'll get the crypto once the option is settled.

Most of the time, on Deribit, you’re dealing with cash-settled options. This is why Deribit is all about derivatives trading, which is more about predicting price movements rather than buying and holding the coins themselves.

Furthermore, Deribit supports trading activities globally, allowing users from numerous countries worldwide, including many European nations, like the UK, France, and Germany, and Asian countries, such as Japan and South Korea, to engage in trading. However, there are certain regions where Deribit's services are restricted.

That said, acording to Deribit's official statements, their platform is prohibited in several countries. So, if you're wondering, "Is Deribit available in the USA?", there's no Deribit USA at the moment. But, if you're a crypto derivatives trader looking for Deribit USA alternatives, check out Kraken or Coinbase derivatives.

	KRAKEN	COINBASE
Analytical Tools
Mobile App
Security	| | | | | Very Poor Average Excellent	| | | | | Very Poor Average Excellent
Social Trading
Copy Trading
Additional Features	Crypto Guides, Videos, Podcasts	A Built-in Wallet, Notifications, NFT Support, Guides
Anonymity
	Visit site Read review	Visit site Read review

Table: Kraken VS Coinbase feature comparison.

Aside from the USA, Deribit is also off-limits in Canada, the Central African Republic, Congo, Iran, Iraq, Japan, North Korea, Libya, and Panama. These restrictions are clearly outlined on the website and must be followed by users when opening accounts or using their services.

And if you're wondering about security, the platform takes that seriously. It’s built with strong security measures to protect your assets and trades. But I know this claim alone is not enough for those who might be asking is Deribit safe. Don’t worry, I’ll cover that in more detail soon.

Deribit Review: PROS

Now, let's look at the pros of this Deribit review. Some of the winning features of the platform include its lightning-fast trade execution, low-latency trading, and a broad selection of crypto derivatives, like futures and options.

Comprehensive Trading Options

The crypto field is saturated with the options of derivatives exchanges out there. So, what is Deribit trading's true specialty? After further research, Deribit offers both beginner- and expert-friendly trading features that cater to both short- and long-term investors.

One cool thing many people rave about in their Deribit reviews is the platform's professional trading dashboard. Adding to that, the exchange offers fast transactions and deep liquidity (basically, there’s always enough crypto available to buy and sell quickly).

Deribit's flexibility makes it popular with traders who need things to move fast, especially during big market swings. But if you’re new to crypto trading, this could feel a bit overwhelming at first since it’s not exactly beginner-friendly.

And, when it comes to funding your account, you’d be pleased to find out in this Deribit exchange review that the platform offers a curated selection of top-performing cryptocurrencies to suit your trading preferences. This can come in handy for those looking to diversify their portfolios.

For starters, you can use BTC, ETH, XRP, or a few other assets as collateral. The derivatives exchange also allows you to use said coins or tokens for spot, futures, and options trading. Recently, Deribit expanded its support to include SOL options, giving you more flexibility.

Followingly, traders can execute block trades and engage in perpetual swaps on several other cryptocurrencies using USDC. Whether you're into day trading or long-term strategies, the platform offers the versatility you need.

To further help you out, I've comprehensively compiled all types of trading you can fundamentally do in this Deribit exchange review: spot, futures, perpetuals, and options. Let's take a deep look at each of them. Maybe you'll find one that answers your calling.

Spot Trading

For those just starting out, spot trading is a straightforward way to buy crypto at its market price. You can hold onto it for as long as you’d like or sell it when you see fit.

Deribit's spot market offers multiple order types, allowing you to execute trades based on your preferred strategy. For example, with a stop-limit order, you can set a specific price at which your trade will execute, helping you manage risk more effectively. Other order types include limit, market, stop market, and even trailing stop, giving traders flexibility when entering or exiting the market.

Futures

If you're asking: "What is Deribit trading's strongest feature?". Once testing the platform out, its futures trading is pretty impressive. With this trading method, you can buy or sell an asset at a future date for a fixed price. Traders often use these contracts to speculate on price movements or hedge existing positions.

For example, you can lock in the price of Bitcoin today and sell it in the future, regardless of where the market is at that time. Futures trading on Deribit is efficient, with minimal slippage and fast order execution.

Now, where Deribit truly stands out is in its speed and efficiency. If you're a trader who values quick execution, Deribit’s ultra-low latency could be a game-changer for you.

Every time you execute a trade, whether it’s an option, futures, or spot, it happens almost instantly. Think of it like refreshing a page on your favorite app—everything updates in real time. This speed can make all the difference when markets are moving fast.

Perpetual Contracts

For more advanced traders, perpetual contracts are a popular choice on Deribit. Unlike traditional futures, perpetual contracts have no expiration date, allowing you to hold your position as long as you want.

This can be a great way to capitalize on long-term market trends without worrying about the contract expiring. With perpetuals, Deribit offers a flexible way to trade while benefiting from low fees and deep liquidity.

Options

In addition to spot trading, another aspect worth highlighting in this Deribit review is options trading. Options are contracts that give you the right, but not the obligation, to buy or sell crypto at a set price before a specified date.

Whether you want to hedge against potential market movements or speculate on price changes, options trading on Deribit is a useful tool. For example, call options let you buy Bitcoin or Ethereum at a predetermined price if you think their value will rise, while put options allow you to sell if you anticipate a price drop.

High Leverage

If you're into leverage trading, you may be curious about what is Deribit's trading maximum leverage. Well, Deribit offers up to a 50x leverage ratio on its futures contracts. This is good news for advanced traders reading this Deribit review, as you can potentially boost your profits.

However, a 50x leverage is considerably high (for reference, the "healthy dose" is considered to be 5x). As a result, some people may wonder is Deribit safe for high-leverage trading. At the end of the day, traders' discretion is advised. Don't dip your toes in leverage trading if you haven't cracked the basics yet!

Now, aside from the leverage itself, Deribit offers various trading strategies that tie into this. For example, you can use futures contracts to short or long a trade, depending on whether you think the market will go up or down.^[2]

Additionally, combine your strategies with Deribit’s COMBOS feature, which lets you bundle multiple instruments into a single trade. This is super useful for strategies like vertical spreads or butterflies, where you’re managing multiple positions at once without having to execute each trade separately.

If you're more advanced, Deribit even allows for institutional trading with access to high liquidity and tools through their partnership with Talos. Thanks to this integration, traders can manage portfolios with a mix of spot, futures, and options in one place.

Overall, Deribit gives traders the tools to use leverage effectively, but it's essential to plan your strategy carefully. Whether you're looking to short, long, or use more advanced combo strategies, the platform has a lot to offer for those who know how to navigate these waters. Just remember—leverage can amplify both your gains and losses, so trade wisely!

TestNet Usage

Not ready to jump into live trading? That’s totally fine. Deribit has a TestNet feature, which you can use to practice trading without risking real money. It's a suitable way to get familiar with the platform’s features before jumping into the real action.

I’ve tried it myself, and I can say that the TestNet functions just like the real platform. But instead of using actual Bitcoin or Ethereum, you’ll trade with internal "Deribit" coins. This gives you a risk-free opportunity to try out different strategies or simply get familiar with how the platform works.

On top of that, the TestNet includes advanced features like the Stop-Market order. With this, you can set up a stop-loss market order when a certain price is reached, which can be useful for learning how to minimize losses during trading.

Moreover, you can access features like the Close Position button, which lets you choose to close your trade at either a market price or a limit price, helping you practice decision-making for live trading scenarios. Other user Deribit reviews have also praised this feature for being pretty useful.

There's a reason behind that. All new updates are first evaluated on the test server, so sometimes you might see features there before they appear on the main platform. For instance, features like the Estimated Liquidation Price show you the potential risks before executing a trade, allowing for smarter planning and strategy testing.

By practicing with these features and keeping yourself updated with user Deribit reviews, you can explore different strategies and get a better sense of how to manage risks effectively before going live.

Solid Security on Multiple Platforms

Multi-platform integration is another factor that people weigh in when researching Deribit reviews. Thankfully, the exchange offers flexibility for traders by being accessible through desktop and mobile. Even if you prefer to build your personal trading interface with an API, Deribit has that, too.

But, before we go further, from whichever device you're accessing, a key concern will be: "Is Deribit safe?". To answer that, Deribit has multiple security measures in place. These include two-factor authentication (2FA) and storing 99% of user funds in cold wallets. So, yes, Deribit is safe, and the exchange is committed to providing maximum protection.

Now, first things first, let's go into desktop trading. As noted in user Deribit reviews, the platform's desktop version is ideal for those who prefer a full-screen experience and need to access detailed charts and tools. It's especially useful for traders who like to keep everything organized and in view.

A lot of traders love the trading dashboard for its clean design and advanced features, but it’s definitely built for people who know what they’re doing. It’s fast, secure, and optimized for serious trading. But again, if you're just starting out, it might take a bit of time to get the hang of it.

For those who are always on the go, Deribit's mobile app is a great option. You can quickly check your portfolio or make trades without being tied to your desk. It’s a streamlined way to stay on top of your trades, even when you're out and about.

If you are a developer or an automation enthusiast who likes working with scripts, Deribit’s API offers advanced functionality. You can automate trades, track market data, and even manage your balances, all without manual input. This is particularly useful for more technical traders who want to create custom setups.

So whether you're at your desk, on your phone, or managing trades automatically, Deribit provides the flexibility to stay connected to the market, no matter where you are, while receiving top-notch security protection.

Did you know?

Compare Crypto Exchanges Side by Side With Others

All Crypto Exchanges may look similar to you but they're NOT all the same!

Yes! Show me the Comparison Chart

Deribit Review: CONS

Now that we’ve gone over the strengths of the platform, let’s shift gears and look at the other side in this Deribit review. Like any platform, this derivatives exchange isn’t without its flaws, and it’s important to consider the drawbacks before jumping in.

Not Accessible to USA Traders

As stipulated in the earlier parts of this Deribit review, the answer to the most asked question, is Deribit available in the USA? is no, Deribit USA is off-limits.

For the curious traders, though, that answer might not hit the ballpark. After all, why does the Deribit exchange not work in the USA? Due to the region's stringent financial regulations, Deribit USA does not comply with the specific requirements set by the SEC (Securities and Exchange Commission) for crypto derivatives trading.

Admittedly, the exchange's unavailability in the country is a significant limitation for those who have been wondering how to become Deribit USA traders. Adding fire to the fuel, Deribit’s options and futures trading are often restricted to accredited investors, making it even harder for the average Deribit's USA-based trader to access them.

However, the platform’s restrictions aren't limited to the States. Deribit, as explained in the introduction, is also unavailable in Canada, Japan, China, and other countries due to local crypto regulations. Along with operational sanctions, Deribit restricts access in nations like Iran and North Korea, where there are geopolitical tensions.

But don't be dejected if Deribit does not work in the USA or elsewhere. Kraken and Coinbase are excellent alternatives that provide robust options for trading. While their derivatives offerings may not be as extensive as Deribit’s, they are more than capable of meeting the needs of most traders. Both platforms are highly trusted, fully compliant with USA regulations, and offer an easy-to-use experience.

Although we know that Deribit does not work in the USA, it does not suggest anything as to whether Deribit is safe. That's because the derivatives exchange still adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) laws. Although Deribit has operated as a no-KYC exchange for some time, before the year's end, the team is committed to verifying all its customers.

Limited Range of Supported Assets

As highlighted in this Deribit review, the platform is a strong contender in crypto derivatives trading. But when it comes to the range of supported assets for futures and options, there are some limitations that traders need to keep in mind.

Now, here's where it gets interesting: while many other exchanges offer hundreds of cryptocurrencies, Deribit only supports a limited number. The platform mainly focuses on top-performing coins, like Bitcoin, Ethereum, and Solana, among others.

To be honest, though, for those who trade BTC and ETH futures and options, Deribit offers deep liquidity. However, when compared to platforms like Binance, which supports over 500 assets, or Bybit, with an impressive selection of over 1,500 assets, it’s clear that Deribit’s asset selection is much more focused.

	BYBIT	BINANCE
Overall Score	9.8	9.6
Best For	More Advanced Users	Buying, Trading, and Holding a Wide Variety of Cryptocurrencies
Operating Countries	Russia, South Korea, United Kingdom, Ukraine, Turkey, +150 more	Turkey, Russia, Argentina, Vietnam, Ukraine, + 40 more
Latest Coupons	$30,000 BONUS All Bybit Coupons	SECURE $600 BONUS All Binance Coupons
Verdict	A popular crypto derivatives exchange with some super-low trading fees.	One of the leading crypto exchange platforms in the industry.
	Visit site Read review	Visit site Read review

Table: Bybit VS Binance comparison.

This concentrated selection may work well for traders dedicated to Bitcoin and Ether, but for those looking for a wider variety of trading options, it could leave them wanting more.

Deribit Fees

Now that we’ve covered the pros and cons in this Deribit review, let’s dive into another essential aspect: fees. If you're new to crypto, understanding how fees work is key to making informed trading decisions. So, what are Deribit's trading fees, and how do they compare with the market benchmark?

Like many exchanges, Deribit uses a maker-taker fee model. This system might seem a bit complex at first, but don't worry—I’ll break it down for you in a simple way.

Maker fees are charged to users who add liquidity to the market, while taker fees are for those who take it away. But if your order is filled instantly, you’re a taker. Remember that takers generally pay higher fees, which is worth noting for active traders.

Moving on to the specific fee ranges in this Deribit exchange review, the platform is noted for charging delivery fees when futures or options contracts expire. Here is the fee structure in more detail.

Table: Deribit maker/taker fees.

On the other hand, Deribit's trading fees for futures options can seem a bit more complex. Deribit charges 0.03% for both makers and takers when trading options with BTC and ETH. But there’s a limit: the fee can’t exceed 12.5% of the option’s price, which is helpful because it keeps the cost predictable, especially for smaller trades.

Moreover, if you are a regular trader, you might be used to volume discounts. Unfortunately, Deribit doesn’t offer any. Whether you trade small amounts or large volumes, the fees remain the same.

Regarding deposit and withdrawal fees, here’s the good news: Deribit charges zero fees for deposits. Retrospectively, withdrawal fees depend on how busy the respective network is. So, if the network is clogged up, you might see higher fees.

How to Use Deribit?

So, you’ve read my Deribit review and decided to give it a try? Awesome! Now, how do you actually get started on Deribit? Let’s start with the basics, like signing up and getting familiar with the platform.

How to Sign Up on Deribit

To be honest, signing up on the platform will feel familiar if you’ve ever registered on other platforms. You just go through the usual process: providing your email, creating a password, and confirming your account.

But for anyone new to trading or asking, I’ll break it down step-by-step in my Deribit review to ensure there are no surprises.

Step 1: Head over to Deribit's website and click on "Create account" to bring up the registration menu.

Step 2: Enter your email, choose your country of residence, and then create a unique username and password.

Step 3: Now, check your inbox for the activation link that Deribit sends. Once you find it, just click on it, and you’ll be taken back to Deribit with your account all setup.

Step 4: That’s it! Your account is ready, and you can now start exploring and trading on Deribit.

How to Trade Options on Deribit

Next, let's dive straight into how you can start trading in this Deribit review.

Step 1: Once you're logged in to Deribit, head over to the "Trade" section from the top menu. Make sure to switch to the "Options" tab.

Step 2: Now, find the option you want to trade. The strike prices are displayed down the middle, with call options on the left and put options on the right.

Step 3: Open the order form. To select your preferred crypto options contract, simply double-click on the specific options—such as those for Bitcoin or Ethereum.

Step 4: Enter your order details. For example, if you're buying two call options expiring on a certain date with a specific strike price, enter "2" for the amount and your desired limit price. If there’s a matching sell order at this price, your trade will be executed immediately.

Step 5: Click the "Buy" button, and a confirmation screen will display the size and total cost. Once everything looks good, hit "Create a buy order" to finalize it.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

See All Coupons of Best Exchanges

Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

See All Coupons of Best Exchanges

Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

See All Coupons of Best Exchanges

Conclusion

Now that we’ve covered all the important aspects, it’s time to wrap up this Deribit review. So, what's the bottom line?

To sum it up, Deribit is a great option if you’re into fast and efficient crypto derivatives trading. The ultra-low latency and a range of futures and options trading make it attractive for both beginners and experienced traders. However, as noted earlier in this Deribit review, it's important to know that the Deribit exchange does not work in the US and several other countries.

Still, there are excellent alternatives to consider. Platforms like Bybit and Binance offer robust features and accessibility, making them solid options for traders worldwide. Additionally, those staying in the USA can check out Kraken.

With a wide range of derivatives features and high liquidity, Deribit is an attractive choice for traders. It's time for you to try it out for yourself!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. Auwera E. V., Schoutens W., Giudici M. P., Alessi L.: 'Financial Risk Management for Cryptocurrencies';

2. Liebowitz J.: 'Cryptocurrency Concepts, Technology, and Applications'.