Deribit exchange is a futures and options trading derivatives market for Bitcoin and Ethereum. Deribit provides up to 100x leverage for Bitcoin futures exchanges and up to 50x leverage for Ethereum futures markets. Jinh Jansen and his colleagues founded Deribit B.V. in the Netherlands in 2016. However, it was eventually renamed ‘Deribit,’ and Deribit has been working out of Panama since February 2020. In this Deribit review, everything will be discussed that you should know about this exchange. So, keep on reading this Deribit review to know if this exchange is safe and legit or not.
Deribet Review – Quick Overview:
- Functioning since 2016
- Global futures and cryptocurrency trading platforms
- Ethereum futures with a 50x leverage
- Leveraged trade in Bitcoin and Ethereum
- Bitcoin futures are 100 times leveraged.
- Trade matching performance is rapid.
Deribet Review – Is It Regulated?
Deribit is registered in Panama. However, it is not authorized by any global financial regulatory bodies. Deribit is accused of shifting its activities from the Netherlands to Panama to avoid harsher AML requirements in the Netherlands. However, as of November 9th, 2020, it has demanded its consumers to produce sufficient KYC paperwork to open a trading account and operate on the exchange. Deribit provides worldwide cryptocurrency derivative exchange services permitted in several jurisdictions. However, it is also prohibited in a few nations. Deribit is illegal in the United States, Canada, and Japan. Deribit is not available to citizens or inhabitants of these countries.
Deribet Review – Main Features:
- Bitcoin and Ethereum may be traded in perpetuity, futures, and options.
- Bitcoin options trading with a 10x leverage is available.
- Deribit also offers Bitcoin futures with 100x leverage and Ethereum futures with 50x leverage.
- Deribit’s matching and risk mitigation engines are among the quickest in the world, capable of processing thousands of orders per second. Deribit’s trade matching engine has a delay of less than 1MS. This implies that there is no pricing slippage in the marketplace, and orders may generally be settled at their original projected quotations.
- Deribit also protects its customers’ assets by storing over 99 percent of all digital currencies in cold storage wallets.
- Deribit users may also obtain professional-grade trade analysis and trading view record charts to help them make wise financial decisions.
- Deribit’s derivatives market is likewise user-friendly and straightforward to use for all traders.
- Deribit also provides a mobile app for Android and iOS, allowing you to trade even when you’re on the road.
Deribet Review – Main Services:
- Deribit provides virtual currency derivatives exchange services for Bitcoin and Ethereum traders.
- Deribit trades are all processed in BTC but can be paid in either BTC or ETH.
- They also provide their consumers with an insurance fund to cover damages from potential bankruptcy.
- Deribit, on the other hand, has a very robust and effective margin maintenance mechanism that considerably minimizes the likelihood of bankruptcy.
- Deribit also provides excellent security service. They employ various security measures, like two-factor authentication, cold storage wallets, and session timeouts to ensure that users’ funds are never lost.
- Deribit’s pricing system is also quite competitive compared to other crypto coin exchange rates and fundamental industry norms.
- Deribit operates a test server to uncover any flaws or defects in their operations and make the consumer experience smoother.
Deribet Review – Supported Currencies And Countries:
Deribit is a worldwide cryptocurrency derivative exchange legal in most countries, including Russia, China, England, Spain, etc. However, Deribit activities are banned in the United States, Canada, Japan, and a few other nations. This is due to Deribit’s failure to comply with all international financial regulations. Deribit only endorses Bitcoin and Ethereum futures and options trading and perpetual swaps.
Deribet Review – Security Measure:
- Deribit uses Two-factor authentication. Users who choose two-factor authentication upon login may be sure that no one would be able to access their Deribit account, even if their credentials have been hacked.
- Deribit employs an IP pining mechanism. This implies that if a user’s IP address changes throughout a session, the session is ended. This stops hackers from accessing user accounts.
- They also take advantage of session timeouts. All sessions are securely logged out after a specific amount of time. This provides protection if the user’s gadget is damaged or stolen.
- They also keep 99 percent of the user’s digital products in cold wallets that are not on the cloud, preventing digital thieves from accessing them.
Deribet Review – Final Thoughts:
Deribit is a cryptocurrency derivatives exchange that has been in business for several years. It is not yet authorized, but hundreds of customers who use its services daily have judged it safe. Deribit reviews are mainly good as well. The only concerns are delayed withdrawals and the high internet bandwidth requirements. Deribit suffered a massive security breach and a flash crash in 2019, but it has since recovered and regained its international reputation.