Deribit is a Bitcoin trading platform that enables individuals around the world to engage in futures and options trading.

What are the Deribit Deposit Options?

Deribit specializes in BTC futures and options trading and users of the platform are required to deposit BTC into their accounts. There is currently no support for fiat deposits and more experienced users often make fiat purchases of BTC on exchanges such as Coinbase, Gemini, and Kraken before transferring them over to Deribit.

The team makes use of cold storage in order to secure their users’ funds with approximately 95% of all BTC being held in this way. This helps the platform to remain resilient to hacking attempts but can also lead to slower customer withdrawals. In addition, in order to further secure user accounts, Deribit incorporates two factor authentications (2FA), although this function is not enabled by default and must be set up after you login.

Is Deribit Suitable for Beginners?

Newer entrants to the world of cryptocurrency trading may be used to logging into an exchange, and trading cryptos for either digital or fiat currencies. However, Deribit deals in the more complicated world of derivatives and as a result, may not be suitable for newcomers.