Training at Deribit crypto exchange

Deribit is a cryptocurrency derivatives exchange. Traders register on this exchange to trade futures and options. Transactions within the platform are conducted in cryptocurrencies BTC, ETH, SOL and tokens USDC, а crypto exchangeIn fact, it acts as an unregulated broker. The platform provides the opportunity to trade on the site deribit.com in demo mode, in spot mode and with leverage (margin trading).

Registration

In order to be able to get acquainted with the functionality of the exchange, you need to register, all you need is an e-mail address. After registration the new user gets into the trading terminal. But you can start trading on Deribit platform only after verification, with a certain amount of basic knowledge and after additional practical training on the test platform.

Basic Knowledge

Deribit – derivatives platform cryptocurrencies. So first we need to understand what cryptocurrencies are. We are talking about cryptocurrencies as a financial asset, not the technical details of blockchain. You need to have an idea of the financial potential of crypto-assets, be able to determine the prospects of making money on specific coins or tokens, know how to trade (spot, margin trading) and the basics of technical analysis. Only after that, you can start studying derivatives and cryptocurrency derivatives.

Derivatives of crypto-assets include futures, forwards, options, swaps. How these assets are characterized, how they differ, how to trade them and how to earn on them should be studied before you start not even to real trading on the Deribit platform, but to work in demo mode. The methodology of trading derivatives is not fundamentally different from spot, it is considered to be even easier than the following cryptotrading. But there are nuances, without knowing which trading will not be profitable.

Training

The training section can be accessed through the navigation menu, which is located on the left side of the site and is activated by clicking on the icon to the left of the site icon. In this menu you need to find the subsection “Details”, and in it “Knowledge base”.

The “Knowledge Base” page has a lot of information, but it is rather chaotically structured, moreover, the menu of the database sections is presented only in English. The “General Information” section. In terms of trading, the “Futures” subsection is of paramount importance, here you can read a brief description of the futures and specifications of the BTC and ETH futures contracts.

The important thing about futures is that bitcoin futures do not involve the transaction of cryptocurrency itself, only the transfer of losses/profits based on the expiration price. It should be noted that for beginners the information about the contract specifications is complex, it will require basic knowledge to understand. Examples of futures work are placed under the specifications.

The following sections are Linear Perpetual and Inverse Perpetual. The contracts are partially similar to futures, and one of their main differences is that they do not have an expiration date. The description of this financial instrument also specifies in detail, specifies separately premium rates, financing and time shares and breaks down several examples of contract trading.

The “Options” subsection offers users a description of bitcoin and etherium options, trading examples, descriptions of order types, rules for working in the problem market, and market maker obligations. The “Trading Information” section, for traders who already have some real trading experience, is of interest in the “Block Trading” subsection, which deals with block trades.

For beginners, the “Trade Orders” subsection, which describes all types of orders in the exchange, is a must. The “Contract Introduction Policy” subsection should also be studied carefully, since it contains information on futures and options expiry and options strikes. All other subsections either require practical trading experience or are technical information.

Testnet

Practice cryptocurrency trading futures you need to go to the DERIBIT TESTNET site. This is a separate resource on which you need to register again. That is, there is no transition from the account on the real trading platform to the test platform, and you can not enter it with the data specified when registering for the real exchange.

In terms of functionality DERIBIT TESTNET does not differ from the real exchange. A new user receives conditional 10 bitcoins to his balance. It is also possible to send conditional coins to the training deposit. By the way, since the test and real crypto exchanges are very similar, you should be careful not to send real bitcoins to the demo platform.