Largest Option Exchange Deribit will launch zero-fee spot trading

[Wapfika]

Deribit, the leading bitcoin option exchange will launch zero-fee spot trading on April 24. They finally enter the spot trading market after 7 years and they timing the launch to the Binance zero-fee event that already expired.

They do this to attract new user to o use their spot trading aside from their option trading. Users will be able to initially trade with three pairs: BTC/USDC, ETH/USDC and ETH/BTC.


This is a game changer since this offer is only available on other exchange if you are a holder of native token of the exchange. Since Deribit is already have their name on Option trading, I guess it's easy for them to get the trust of new users that will try their zero-fee spot trading.

FYI: Deribit is the exchange that was use by the controversial Three Arrow Capital(3AC) for their Bitcoin option trade that got liquidated last year.


Source: https://www.theblock.co/post/227224/deribit-spot-trading-exchange?utm_source=cryptopanic&utm_medium=rss

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[Darker45]

With this, Deribit is effectively upping the ante in the competition for a larger market. Also, the spoils of FTX's collapse have possibly yet to be completely gathered by a competing exchange. They must have also learned lessons from Binance when it also offered its own zero-fee trading. There was a surge in volume for Binance because of that. The effect was also noticeable when the zero-fee trading expired. Although Deribit only offers three trading pairs for this, they did mention that this will continue in the foreseeable future.

[Eternad]

I always reading this exchange on different news outlet because it was being use by huge institutional investors for an option trading.  I think most of their clients are whales and they are aiming to onboard retail investors with this aggresive move to battle against Binance monopoly on spot trading volume.

It's good to see that they are focusing on USDC pair to Bitcoin and  ETH instead to the shady USDT. This is a good alternative on Binance if they can maintain a zero fee in long term since their option trading is their main source of profit.

[YOSHIE]

FYI: Deribit is the exchange that was use by the controversial Three Arrow Capital(3AC) for their Bitcoin option trade that got liquidated last year.

I've read about Deribit exchange having a hacking accident and it happened in 2022, whether they have followed up/responsibility towards users, I hope all is well.

And as you said like the quote below.

Deribit is a cryptocurrency exchange that offers options, futures, and other derivatives trading for Bitcoin and Ethereum only.

However, if Deribit adds some other types of crypto for options options, futures I think it's better, hopefully there will be additions.

However, it's a good idea for users to read through this, before trading there.

Only supports Bitcoin deposits: Deribit users can only fund their accounts with BTC.
Operating as an unregulated exchange: Deribit is not regulated, which means it could potentially run into regulatory issues in the future.
Not accessible to US traders: Deribit is not licensed to operate in the United States and does not allow US users.

[Wapfika]

However, if Deribit adds some other types of crypto for options options, futures I think it's better, hopefully there will be additions.

However, it's a good idea for users to read through this, before trading there.

Only supports Bitcoin deposits: Deribit users can only fund their accounts with BTC.
Operating as an unregulated exchange: Deribit is not regulated, which means it could potentially run into regulatory issues in the future.
Not accessible to US traders: Deribit is not licensed to operate in the United States and does not allow US users.

This is correct. They not license to operate in US since they are based on Panama. They are already planning to move from Panama to Dubai which they are planning to get their Dubai license to attract more retails with this upcoming spot trading launch.

I think having a license on US is their next target once they become successful with their Dubai license.

[libert19]

3 pairs, meh