Deribit: Personal Account

Deribit is a specialized cryptocurrency exchange focused on derivatives trading, particularly futures and options. Founded in 2016, it quickly became one of the leading platforms in its segment, processing about 90% of all operations in the Bitcoin options market. The Deribit personal account provides traders with powerful tools for working with these complex financial products.

Registration and Verification on deribit.com

The account creation process on Deribit is quite simple:

• On the main page, click on the “Create Account” button.
• Fill out the registration form by providing an email, username, password, and country of residence.
• Accept the terms of service and privacy policy.
• Click “Register” and activate your account using the link from the email.

Deribit offers two types of accounts: individual and corporate. To start trading, you need to go through the KYC (Know Your Customer) process. For individuals, this includes:

• Providing personal information (full name, date of birth, address).
• Completing a financial profile.
• Uploading documents (passport or ID) and a selfie.
• Proof of residence.

Corporate clients undergo a more in-depth verification process, including providing company and trusted person data. The verification process for individuals usually takes up to 2 business days. KYC is a mandatory procedure for all users, regardless of trading volume. After completing KYC, users gain access to all platform functions, including withdrawals. Deribit may request additional verification for large transactions or suspicious activity. The exchange does not serve citizens of certain countries, including the USA, Canada, Japan, and Panama.

Deribit Personal Account Interface

The main page of the personal account displays key market indicators and news. The Deribit account has an intuitive interface with several main sections:

• Trading Terminal. Includes TradingView charts with a variety of indicators and technical analysis tools (how to trade with Deribit).
• Wallet. Here, users can track balances, transaction history, and manage deposits/withdrawals.
• Account Settings. Allows managing security, setting up notifications, and personalizing the interface.
• Verification. Displays the current KYC status and allows uploading additional documents if needed.
• Affiliate Program. Here, you can find a referral link and track earnings.

Users can customize the interface language (7 languages available, including Russian) and choose a theme (dark or light). Deribit also offers a mobile app for iOS and Android, which allows trading derivatives from any device. Deribit also provides API access for automated trading and integration with external tools.

Account Security

Deribit places great emphasis on the security of user data and funds:

• Two-factor authentication (2FA): It is recommended to activate via Google Authenticator or a hardware device like Yubikey.
• IP pinning: If the user’s IP address changes during a session, it is automatically terminated.
• IP whitelist for account login.
• Login and other action notifications.
• Automatic session termination after a period of inactivity.

About 99% of client funds are stored in cold wallets, which are not accessible via the internet.

Managing Funds

The account can be funded in such cryptocurrencies as Bitcoin, Ethereum, Solana, and USD Coin. The minimum deposit is 0.01 coins for all assets. A built-in gateway supporting 51 national currencies is available for fiat currency deposits. The fee for such deposits ranges from 3.5% to 6.5%. Withdrawals are only possible in cryptocurrencies. The maximum withdrawal limits depend on the asset, for example, 200 Bitcoins per transaction. The exchange does not charge fees for deposits and withdrawals, except for standard network fees.

Trading Tools

The main functionality of the Deribit personal account is focused on derivatives trading:

• Futures (perpetual and term). Both term and perpetual futures are available on the platform. Term futures have a specific expiration date after which the contract automatically closes. Perpetual futures do not have a fixed term, allowing traders to hold a position indefinitely until they decide to close it. These instruments allow speculation on future asset prices and the use of leverage to increase potential profits (cryptocurrency trading on the exchange).
• Options. Allow traders to buy or sell assets at a predetermined price by or at the expiration date. These contracts offer the opportunity to hedge risks or profit from market movements without necessarily owning the asset.
• Futures spreads. Include combinations of different futures contracts to profit from changes in the price difference between them. This can be useful for trading based on various market conditions or expectations.

Various order types are available:

• Limit orders: Allow traders to specify a specific price at which they want to buy or sell an asset. The order is executed only at the specified price or better.
• Market orders: Orders to buy or sell an asset at the current market price. They are executed immediately at the best available price.
• Stop-limit orders: Allow setting conditions under which the order becomes active. It is an option with two prices — a stop price and a limit price. When the stop price is reached, the order becomes a limit order and is executed at the specified limit price or better.
• Market Limit: Combines the features of market and limit types. Initially placed as a limit order but automatically becomes a market order upon reaching the market price, ensuring immediate execution.
• Stop Market: Orders that become market orders when the stop price is reached. This helps to automatically respond to significant market movements.
• Take Market: Similar to market orders but aim to “take” liquidity from the market. These orders are executed at the best available prices when you place them to sell or buy.
• Take Limit: Orders that ensure execution at the specified limit price or better when the price reaches that level. They provide the opportunity to take advantage of current market conditions.
• Take Limit: Orders placed at a specific price and executed only at that price or better. They can be used to achieve trading goals when the market reaches a certain level.

Traders on Deribit can use leverage to increase potential profits. Leverage is available up to 100x, allowing traders to control a larger position than they could afford without leverage. For options, leverage up to 10x is available, which also expands trading opportunities but with lower risks compared to futures.

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Additional Features

The exchange offers a number of additional features and tools:

• Subaccount Creation. Allows you to split your deposits into several parts. This can be useful for risk management and testing trading strategies within a single main account. Subaccounts can also help better manage separate investment projects or trading strategies.
• Margin Management. Deribit offers two types of margin: standard and portfolio. Standard margin is applied to individual positions, while portfolio margin considers all positions in the account, allowing for more flexible overall risk management. This helps optimize capital usage and improve risk management.
• Position Builder. A tool that allows you to create and manage complex trading strategies. It enables combining different types of orders and assets to achieve specific trading goals and optimize positions.
• Options Master. Provides assistance in choosing strategies based on market expectations. It helps traders analyze the market and choose the most suitable options strategies based on current market conditions and trading goals.

There are also convenient analytical tools:

• TradingView Charts: Integration support allows the use of powerful tools for technical analysis and charting.
• Technical Analysis Indicators: Includes popular indicators such as RSI, MACD, moving averages, and others, helping traders make informed decisions based on technical analysis.
• Deribit Metrics: The platform provides its own metrics, such as liquidity information, trading volumes, and other market data, which contributes to a deeper market analysis.

These features and tools make the Deribit platform a powerful tool for professional derivatives trading and allow traders to adapt their strategies to any market conditions.

Deribit User Support

The Deribit user support service provides multiple communication channels to ensure fast and effective assistance:

• E-mail: Support via email is provided within 2 hours. This is a convenient way to resolve less urgent issues or requests that require more detailed analysis.
• Telegram, Twitter, Reddit: Responses to requests on these social networks and messengers are usually provided within 30-60 minutes. These channels allow for quick assistance and up-to-date information, as well as keeping up with platform news and updates.
• Online Chat on the Website: This is the fastest way to get support. The chat is available 24/7, allowing users to instantly communicate with support representatives to resolve ongoing issues and questions.

In addition, Deribit offers an extensive knowledge base that includes guides, manuals, and frequently asked questions (FAQ). This is a useful resource for self-searching information about the platform’s functionality, trading strategies, and technical aspects. The knowledge base is regularly updated and supplemented to ensure the relevance of the information provided.

Conclusion

The Deribit personal account provides traders with a powerful and multifunctional toolset for working with cryptocurrency derivatives, offering several significant advantages:

• User-friendly Interface: The platform features a modern and convenient interface that simplifies navigation and management of trading operations. Even new users quickly get familiar with the functionality.
• High Level of Security: Deribit implements advanced security measures such as two-factor authentication (2FA), IP pinning, and IP whitelists to protect user accounts and funds. About 99% of client funds are stored in cold wallets, minimizing risks.
• A Wide Range of Trading Tools: The platform provides access to futures, options, and futures spreads, as well as various order types, allowing traders to implement different trading strategies and optimize their trades.
• Flexible Margin and Leverage Settings: Deribit offers different options for margin management and leverage, allowing traders to adapt their strategies to market conditions and manage risks.
• Analytical Tools and Statistics: The platform includes powerful analytical tools such as TradingView charts, technical analysis indicators, and Deribit metrics, which help traders make informed decisions based on deep market analysis.

To effectively use the platform, it is recommended to:

• Carefully study the knowledge base and take training courses: This will help you better understand the platform’s functionality and learn how to effectively use the provided tools.
• Start with the test platform to master the tools: Using the demo version of the platform will help you get used to the interface and functionality without the risk of losing real funds.
• Use all available security measures, including 2FA: This will provide an additional level of protection for your account and funds.
• Regularly analyze market data and Deribit metrics: Constant monitoring of market conditions and metrics will help in making informed trading decisions.
• Gradually increase the complexity of the strategies used: Starting with simple strategies, you can gradually move to more complex ones as you gain more experience and confidence in your actions.

The Deribit personal account is a comprehensive solution for trading cryptocurrency derivatives, suitable for both experienced traders and beginners looking to master this market segment.