In this brief Deribit review, some of the most prominent features of the platform are discussed to help novice parties in determining whether it is a suitable exchange for them to use or not. As a beginner, it is always helpful to know about the available features and services offered by an exchange before you use it. This is because different exchanges offered different types of services that do not necessarily match the criteria of every potential user.
Therefore, if you know the kind of exchange you want to use then knowing about the available features of a platform can help you make an informed decision.
The Deribit exchange is a Bitcoin-based trading platform that was established in 2016. According to BitDegree crypto news, this exchange also successfully managed to receive a significant number of traffic from countries where crypto is banned. This is thanks to the prominent features offered by the platform that are also mentioned below.
If you are a potential user of the exchange then you should be familiar with these available features.
Deribit Review on its Fee Structure
You will be required to pay some kind of fee, regardless of the exchange you choose. However, the difference arises as the amount of fee that is required for people to pay varies from one exchange to another. There are some platforms that have a low and transparent fee, while others charge a high fee including hidden charges that are not disclosed beforehand.
Using an exchange that includes unknown additional fees is not only unsuitable but also unsafe, especially for people who are new to the crypto space.
The Deribit exchange, however, is known to have one of the lowest fees structures in the crypto market. The fee is also transparent and is based on market maker and taker model. As a user of the exchange, the amount of fee you will be required to pay would also depend on whether you opt for options trading or futures contracts.
Here are the details of the fee mentioned in this brief Deribit review.
For options trading you will be required to pay:
- 02% delivery fees
- 04% fee for both market makers and takers
- 19% liquidation fee
- Flat fee of 0.04%
For futures contract you will be required to pay:
- 02% maker fee
- 025% delivery fees
- 05% taker fee
- 35% liquidation fee
- Flat fee of $10
In addition, it is also important to know that the exchange does not require the users to pay any fee for deposits or withdrawals.
Trading with Leverage on the Platform
One of the most well-known types of crypto trading is leverage trading, which is also known as margin trading. This type of trading allows the traders to borrow funds from the brokers, which is called leverage. With the borrowed funds, the traders can open bigger trading positions that can either lead them to get big profits or losses as the profits are never guaranteed.
Leverage trading is also a risky type of trading and people who want to step into it should be familiar with the concept and choose a suitable exchange for it. Different exchanges also offer different amounts for leverage and this Deribit review specifies that it offers one of the highest leverages, which is up to 100x.
Level of Security
The level of security offered by an exchange is yet another essential feature. That needs to be explored by the beginners before they decide to use the platform. There are several risks novice parties can come across when they step into the crypto space. While these risks cannot be eliminated completely. They can be mitigated by using a crypto exchange that prioritizes the security of users’ funds and information.
The Deribit exchange is one such platform that ensures utmost security is offered to the users by making use of leading-edge security systems. Here are some of the security features that strengthen the level of security offered by the platform.
- Cold wallet storage
- High-end security protocols
- Insurance for deposited funds
- Two-factor authentication method
- Notifications in case of suspicious account activity
Customer Service of the Exchange
If you step into the crypto space for the first time. You need to be sure that the platform you choose has a well-developed system for customer support. This Deribit review addresses this aspect as well as. It has a team of experts available to assist the users around-the-clock.
The customer support agents are experienced. It have necessary knowledge that can help the users in case of any query. Concern or emergency. As a user of the Deribit exchange, you can reach out to the customer support agents through email or live chat. You can even refer to the FAQ section for any help.