In this Deribit review we cover this great crypto exchange with margin and option trading available.
Welcome to our Deribit review from an actual non-sponsored user of the exchange. Deribit is a crypto exchange that provides top not futures and options trading for Bitcoin and Ethereum. The exchange was created in 2016 and is located in the Netherlands but is now considering Dubai. It offers a very user interface and many advanced trading options, such as stop loss and take profit orders. Deribit also offers up to 100x leverage, which is crazy, on its futures contract. This can be attractive to high level traders with more experience as well as those looking to make larger trades with less capital.
One of the key advantages of Deribit is its high trading volume, especially for options, which can lead to better liquidity and tighter bid-ask spreads. This can make it a terrific choice for traders looking to execute large orders quickly and at a good price. Moreover, Deribit’s fees are relatively low compared to other cryptocurrency futures exchanges.
Deribit’s trading platform is designed to be user-friendly and easy, making it quick for new traders to navigate the exchange and find the information they want. The website also offers a wide range of charting and technical analysis tools, which can be useful for experienced traders looking to make informed trading decisions. Although, don’t expect anything to advances from these free tools but it’s nice bonus
Another pro of Deribit is its customer support. The exchange has a professional customer support team that is available 24/7 to answer any questions or concerns that traders may have. The team can be contacted through live chat, email, and telephone, providing traders with several options for getting in touch with support.
With that being said, it is important to note that trading on margin can be extremely risky, especially for newbie traders. Deribit does offer a plethora of risk management tools, such as stop loss and take profit orders, but it is still key to thoroughly understand the risks before trading on margin, especially higher levels of margin, meaning anything over 5X-10X.
One more important point to mention is that Deribit is a centralized exchange, which means that users’ funds are held by the exchange, and not in their own wallets. This can make it more likely to hacking and other security issues. Therefore, it is important to use a strong password and enable two-factor authentication when creating an account on the platform. Deribit also utilizes SSL encryption and advanced security measures to make sure that user data is kept safe and private.
Deribit Review Conclusion:
In conclusion of this Deribit review is a solid choice for traders looking for an advanced trading platform with high liquidity, low fees, and a load of risk management tools. The user-friendly interface, advanced charting and technical analysis tools, and customer support make it an attractive option for both new and experienced traders. However, it is important to understand the risks of trading on margin and to take conservative security measures when using the exchange.
I would rate it a good 8 or 9 out of 10! You can turn your $1000 into $100’000 and make bank but be careful lol. I also hope you enjoyed this Deribit Review from someone who is not sponsored by them and actually uses it.
Here is the link to Join Deribit (save 10% on trading fees):https://www.deribit.com/reg-8865.7950?q=home