Deribit.com is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading. The team behind the project combined the first letters from the words Derivates and Bitcoin in order to create the name of their website, and members can use Bitcoin in order to make deposits, withdrawals, and to collateralize trades.
Deribit.com platform also allows traders to take advantage of up to 100x leverage when trading Bitcoin futures. While not as well known as other cryptocurrency futures exchanges, Deribit is growing in popularity and proving to be an attractive alternative for crypto enthusiasts actively involved in futures trading.
How To Start With Deribit.com
To start trading with Deribit.com,Indian residents first have to sign up for an account by following the steps below.
Step 1. Click on the “Login/Signup” link on the top right hand corner of the Deribit.com website.
Step 2. In the form, fill in your first name, last name, mobile number, email ID and password.
Step 3. If you have a referral code, enter the code while creating your account.
Step 4. Submit the form and wait for an activation email to be sent to you.
Step 5. Click on the “confirm email” link in the activation email.
Step 6. After your account is activated, you’ll be sent a 6 digit one time password (OTP), which you have to enter after logging into your Deribit.com account.
Deribit Derivatives Exchange operates a maker-taker fee model. BTC Futures orders which provide liquidity receive a rebate of 0.02%. Orders that take liquidity are charged a small fee of only 0.05%. The fee is calculated as a percentage of the underlying asset of the contract. Perpetual contracts orders providing liquidity receive a rebate of 0.025%, order that take liquidity are charged a fee of 0.075%.
BTC Perpetual Contracts
Maker Rebate: 0.025%
Maker Rebate: 0.02%
Taker Fee: 0.05%
ETH Perpetual + Futures
Maker Rebate: 0.025%
Taker Fee: 0.075%
BTC and ETH Options
0.04% of underlying or 0.0004 BTC/option contract
0.04% of underlying or 0.0004 ETH/option contract
Fees can never be higher than 12.5% of the price of the option. For example if an option is traded at 0.0001 BTC, the taker fee will be 0.0000125 BTC (instead of 0.0004 BTC), thus 12.5% of 0.0001 BTC.
Delivery (settlement at expiration)
For deliveries (expiration) half the fees of taker orders are charged. Eg: 0.025% for Futures, and 0.02% for Options, where for options the fee can never be more than 12.5% of the value of the option.
Fees for Liquidation trades BTC
Liquidations are charged a higher fee than normal. Fees are raised with 0.30% of underlying contract size. The surplus fees of liquidations will automatically fund the insurance fund. Futures liquidations fees: 0.5% fee, 0.45% goes to the insurance fund. Perpetual contracts liquidations fees: 0.5% fee, 0.425% goes to the insurance fund. Options liquidations trades: 0.19% of underlying or 0.0019 BTC/options contract, 0.15% of underlying or 0.0015 BTC per contract goes to the insurance fund. So the higher fees of liquidation trades are the income for the insurance fund.
Fees for Liquidation trades ETH
Liquidations are charged a higher fee than normal. Fees are raised with 0.30% of underlying contract size. The surplus fees of liquidations will automatically fund the insurance fund. Futures liquidations fees:
0.9% fee, 0.85% goes to the insurance fund. Perpetual contracts liquidations fees:
0.9% fee, 0.825% goes to the insurance fund Options liquidations trades: 0.19% of underlying or 0.0019 ETH/options contract, 0.19% of underlying or 0.0015 ETH per contract goes to the insurance fund. So the higher fees of liquidation trades are the income for the insurance fund.
Deposits and Withdrawals
Bitcoin deposits are credited after 1 confirmation on the network. They don’t charge fees for deposits. Withdrawals are processed instantly if the balance in hot wallet permits so. They keep only a small percentage of coins in hot storage, so there is a chance that your withdrawal cannot be processed immediately. If needed, once a day they replenish the balance of the hot wallet from cold storage.
The exchange strives to be technologically advanced and allows users to trade via their trade matching engine with less than 1MS latency. Users can also trade via web interface, mobile (iOS/android), or API and Deribit also integrates with trading bot software such as HaasOnline, BotVS, and Actant. In addition, the platform makes use of cold storage in order to secure approximately 95% of user funds
The site is available in English, Spanish, Chinese, Russian, Korean, Japanese, and Turkish. In addition, a support team is available to deal with any issues, and the team provide a list of email addresses in the members section. The Deribit team can also be contacted via their Twitter account or Telegram group, and provide a Blog, a Docs page, and an FAQ page in the members section that explain a number of key issues They also run a YouTube channel which contains a number of explanatory videos.
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