Deribit is a Panama-based crypto exchange that was launched in 2016. The platform facilitates futures and options trading for crypto enthusiasts around the world. It is more a transparent platform that enables the traders to enjoy 100 times leverage on trading Bitcoin futures. The company was founded by CEO John Jansen and CTO Sebastian Smyczýnski. Its team also have CMO Andras Caron and Lead developer Andrew Yanovsky working towards the company’s vision. The platform is growing its popularity in futures trading.
Unique features of Deribit:
The platform offers some very interesting features that are the force behind the platforms’ growth. Backed with real-time auditing, liquidation, and risk management, Deribit offers the following features:
- The users of this platform can enjoy 100X leverage when trading the Bitcoin (BTC) futures
- This crypto exchange offers a good range of trading options, which are backed by many smart trade strategies. In addition, the users get to use 10X leverage too.
- Trading on this platform is ultra-fast. The trade matching mechanism doesn’t believe in making the traders wait. That is why it offers latency, which is less than 1MS.
- Deribit also supports trading software such as FMZ Quant, Haasonline software, and Actant.
Security with Cold Storage:
With all the features, safety, and security of the funds, crypto assets, and coins are of utmost importance at this platform. That is why the platform offers cold storage for 99 percent of the Bitcoin. Deribit stores the deposits of the users in cold storage with many funds in vaults in many bank safes.
Currently, the crypto exchange only accepts Bitcoin (BTC). No other fiat currency is currently accepted on this platform.
The recent listing on ETH:
The crypto exchange has recently listed daily options on ether (ETH). Reports reveal that the new product will have strike price intervals of 5 USD. Also, from Feb 19th, the platform has decreased the tick size for all ETH options. It will be from 0.001 ETH to 0.0005 ETH, as per the CMO of Deribit- Andras Caron. He explained:
Daily options only have one or two days remaining lifetime and thus lower time value or premium and thus [are] cheaper. These shorter dated, cheaper options are great instruments to use for short term strategies enabling the trader to hedge events or benefit from expected short term moves.
Deribit’s targets Asian expansion on completion of 10% equity sale:
The crypto platform drew these 10% shares from its existing shareholders on a ‘pro-rata basis.’ The CEO and COO retain the majority of the stake. Reports reveal that Deribit is aiming to become ‘institutional-grade investment and trading asset class.’ Three Arrows Capital and QCP are important strategic partners of Deribit. The crypto exchange is optimistic about these two partners’ Asian connections and proven track record to help Deribit to venture into the Asian market. On this, Deribit CEO John Jansen shared:
[Three Arrows Capital and QCP] will be important strategic partners for our fast-growing platform moving forward. Both firms are well known and have a proven track record in the crypto derivatives space.
Conclusion:
The high-performance cryptocurrency futures and options exchange- Deribit seems to be strategically moving up the ladder. The unique combination of features such as low fees, 100X leverage, test trading, insurance funds, etc., in return, offers Deribit a competitive advantage over many crypto exchanges. Backed with a feature-rich platform, strong cold storage to offer premium security to users’ funds, and an eye to branch out internationally through strategic partnerships, the company seems to take realistic steps towards its dreams.