Deribit (bit.ly/deribit 10% fee discount) - #CryptoTrading

Published in Trading platforms · Labeled as Options & Futures ·

(Quick & easy KYC) Deribit is your 2021 BitMEX alternative for perps and other crypto derivatives trading. Fee discount with referral link.

Just here for the quick action?

Sign up through shill link below to get 10% fee discount on Deribit.

Shill Link

Thank you for coming to our TED talk.

Deribit KYC

Deribit requires KYC for new traders since 9 November 2020.

The current KYC requirements are a government ID and a bill that proves your residential address.

The KYC at Deribit is largely automated - the documents get verified near real time. For the bill, online-only document is accepted as well (such as online banking statement)

About Deribit

Deribit is a crypto trading platform for cryptocurrency derivatives.

Their flagship product are cryptocurrency options, but Deribit also runs crypto perps markets crypto futures markets.

Options can be very lucrative, but if you don’t know how to trade them, you can get hammered in a pretty bad way. On the other hand, using options instead of stop-loss can be a very sensible idea, especially if you trade on exchanges like Kraken that are notoriously unrealiable with order execution.

Deribit is building up an educational section at insights.deribit.com where they go into detail about how options work and how you can use them. For the more complex positions, you get a Google Spreadsheet to understand how your Profit/Loss would change depending on spot price.

The Deribit platform is custodial, but trusted. Representatives can be found in crypto traders’ communities.

Get Deribit 10% Discount

Deribit as a BitMEX alternative

Why is BitMEX no longer a good place to trade, to such extent that we need Deribit as an alternative?

Up until August 2020, BitMEX was your trusty exchange where no KYC was necessary. You could even trade there from Tor or VPN - it breached the TOS but compliance was not enforced, as was the custom.

In August 2020, BitMEX announced they will be requiring KYC from all users starting 28 August 2020. Shortly after it transpired they got into serious legal troubles, and a while later that they are possibly using their (massive!) insurance fund to make their profits unavailable to the authorities.

In plain English, this won’t end well.

The BitMEX KYC procedure includes government documents, selfie and a questionnaire. As a reminder, BitMEX does not serve US traders, but according to reports everyone who had money on BitMEX was able to withdraw.

Deribit and US Customers

Deribit does not serve US customers.

Deribit started requiring KYC on 9 November 2020.

Traders based in United States are also restricted to trade on Bitfinex, but KYC is not yet required on that platforms.

Get Deribit 10% Discount

Category: Trading platforms · Label: Options & Futures · Author: Altcointradingnet (contact author)

 

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