Brief informationDeribit
According to the information provided, the broker gives its clients an opportunity to execute trade transactions with cryptocurrencies. The audience of the company consist of experienced traders from various countries. Deribit specializes in BTC derivatives trading and provides access to the futures and options industry.
Deribit summary
Date of foundation. According to the information provided, the broker has been operating on the market since 2016.
Regulation. Deribit is operated by DRB Panama Inc., a Panama corporation registered under Mercantile No. 155684990, Panama City, Republic of Panama. However, the company does not provide any information about its regulator.
Location. Deribit is registered in the Dutch commercial register. The company was registered under the Deribit B.V. trademark. The organization has been registered since August 15, 2017 at Stationsstraat 2B, 3851NH in Ermelo.
Contacts. To contact technical support, traders can use the following email address: dev@deribit.com. In addition, customers can get general information using the following email address: support@deribit.com. The company also provides its own channel in Telegram. Customers are not provided with the opportunity to contact support via phone.
Terminal. Deribit offers a platform of the same name for trading options and futures. The cost of each is $ 10. In addition, the broker provides an application that runs on Android and iOS. The app is called Deribit in the AppStore and can be downloaded for free.
Deribit trading terms
The broker offers a wide variety of options markets as well as various cryptocurrency futures. The cryptocurrencies, for which Deribit offers futures and options, are Bitcoin (BTC) and Ether (ETH). Each trader will be able to choose between perpetual and traditional futures, depending on their preference. There is also a number of different options with short, medium and long term.
To start trading with the broker, a client needs to go through the registration process and create a personal account. A trader needs to follow just a few steps:
- to enter username;
- to indicate password;
- to enter the country of residence.
As soon as a trader takes all the above steps, he/she will receive a confirmation email. You just need to click on the received email link to get access to your account. In this case, KYC requirements are not taken into account. Deribit plans to expand KYC requirements in the future. KYC will be mandatory for traders who require more than 1 BTC to withdraw funds within 24 hours. The company notes that 99% of assets are stored in a cold wallet. The cold wallet is not connected to the Internet and therefore not vulnerable to hackers. In that way, traders are assured that investments are always safe. The account can also be protected with the help of 2FA.
Depositing and withdrawal of funds
A trader can replenish his/her account by clicking the “Deposit” button in the upper right corner of the page. The client can then generate a deposit address that will allow BTC to be transferred to their Deribit account. After the trader has processed the transfer, the broker will only require one confirmation before the client can start trading.
The withdrawal process is also carried out with the help of "Withdrawal" and "My Account" tabs. On the withdrawal page, the client enters the address of his/her BTC wallet and the desired withdrawal amount. There are several priority level options and the choices are related to the commission that the customer is ready to pay, and the higher the priority, the higher the withdrawal fee. Bitcoin is accepted for both replenishment of the deposit and withdrawal of funds.
The platform does not support fiat payments, and accounts are kept in bitcoins, which makes users constantly vulnerable to BTC volatility. The Exchange also decides whether to block residents of certain jurisdictions and is currently unavailable to residents of the United States, Canada and the Netherlands.
Feedbacks about Deribit
Both beginners and experienced traders should remember that trade execution with cryptocurrencies involves risks. So, you need to remember that it is worthwhile to properly analyze the situation in the financial market. Potential traders are advised to consult with a financial expert who will help minimize the risks. It is also worth remembering that cryptocurrency has no legal status on the territory of the Russian Federation. Also, potential clients should pay attention to the fact that the broker does not have accurate information about its regulator.
It is important for potential traders to see the current feedbacks of other clients about working with this broker. If you have experience with Deribit, then write a feedback and rate the service from 1 to 5. By leaving a feedback, you participate in the rating of BrokerTribunal. The broker list will allow clients to pay attention to the companies with the most optimal trading conditions.
