Deribit has become a leading platform for crypto derivatives traders. Acquired by Coinbase, this platform focuses on options and futures, providing advanced tools for traders of all levels. Let's explore what makes Deribit a key player in the crypto derivatives trading arena in 2025.
What is Deribit ?
Deribit is a crypto derivatives exchange platform founded in 2016, specializing in options and futures contracts. Based in Dubai, United Arab Emirates, it has quickly established itself as the global leader in the crypto options market with more than 85% market share in this segment.
The platform was created by John and Marius Jansen, who developed a first-rate institutional infrastructure, offering advanced features like instant price discovery, low-latency trading, and sophisticated risk mitigation services. Deribit stands out for its deep liquidity thanks to a network of leading market makers.
In May 2025, Deribit was the subject of a major acquisition by Coinbase for approximately $2.9 billion, marking a turning point in the derivatives industry. This strategic acquisition aims to make Coinbase the global reference platform for crypto derivatives, combining Deribit’s expertise in options with Coinbase’s growing futures business.
Deribit Platform Features
Deribit offers a comprehensive set of features that make it a preferred tool for derivative product crypto traders. Here are the main characteristics that distinguish this platform in the market.
Specialization in Crypto Options
Deribit’s main strength lies in its unmatched expertise in crypto options. The platform offers European options on several cryptocurrencies, with particular dominance in Bitcoin and Ethereum options. These options are exercised only at expiration and cannot be exercised beforehand, simplifying position management.
Varied Futures Contracts
Deribit offers several types of futures contracts :
Perpetual contracts : with no expiration date, ideal for long-term positions
Dated futures contracts : with a fixed expiration date
Inverse contracts : denominated in Bitcoin or Ethereum
Linear contracts : denominated in USDC
This diversity allows traders to adopt different strategies according to their objectives and risk tolerance.
Advanced Margin System
Deribit offers two distinct margin models :
Standard margin : ideal for buying options and directional positions with leverage
Portfolio margin : takes into account all futures and options positions, potentially reducing margin requirements for diversified portfolios
The portfolio margin system is particularly advantageous for complex trading strategies involving multiple instruments.
Sophisticated Trading Tools
The platform provides traders with several advanced tools :
Option Wizard : to quickly find an options strategy adapted to your price forecasts
Price Ladder : a vertical order book allowing efficient trading of futures and options
Robust API : for algorithmic trading and integration with other systems
Mobile applications : available on iOS and Android for trading on the go
Enhanced Security
Deribit places particular importance on security with :
Two-factor authentication (2FA)
Cold storage for the majority of funds
Socialized loss system with an insurance fund
SOC 2 and ISO 27001 certifications obtained in 2024
Explore crypto options and futures on Deribit
Cryptocurrencies Available on Deribit
Unlike some platforms that offer hundreds of cryptocurrencies, Deribit has chosen to focus on a limited number of assets but with exceptional market depth.
Deribit primarily accepts three cryptocurrencies for deposits and withdrawals :
Bitcoin (BTC) : only on the native blockchain
Ethereum (ETH) : only on the native blockchain
USDC : only ERC20 deposits
This restricted selection allows the platform to focus on quality rather than quantity, providing optimal liquidity for these major assets.
For derivative products, Deribit offers options and futures on
The platform has also launched a zero-fee spot trading service to facilitate conversions between these cryptocurrencies.
Advantages and Disadvantages of the Deribit Exchange
Like any exchange platform, Deribit has strengths and weaknesses that should be analyzed before engaging with it.
Advantages of Deribit
Let’s first look at the platform’s advantages.
Exceptional liquidity for options : Deribit offers the best market liquidity for crypto options, with more than $30 billion in current open interest. This market depth allows large orders to be executed with minimal price impact.
Intuitive user interface : Despite the complexity of the products offered, Deribit’s interface remains accessible and well-designed, allowing even less experienced traders to navigate the platform efficiently.
Significant leverage : The platform allows leverage of up to 100x on certain products, offering opportunities for amplified gains for traders who manage the associated risks.
Proven security and reliability : With several years of experience without major incidents, Deribit has demonstrated its reliability and commitment to user fund security.
Integration with Coinbase : The recent acquisition by Coinbase promises future integration with the Coinbase ecosystem, which could bring additional benefits in terms of market access and capital efficiency.
Disadvantages of Deribit
Now let’s look at the exchange’s areas for improvement.
Complexity for beginners : Derivative products are inherently complex and can present a challenge for newcomers to crypto trading, despite Deribit’s efforts to simplify the user experience.
Limited number of cryptocurrencies : The focus on a few major assets can be restrictive for traders wishing to diversify their strategies on less capitalized altcoins.
Geographical restrictions : Due to regulatory constraints, Deribit is not accessible in certain countries, thus limiting its global reach.
Mixed user reviews : With an average rating of 3.2/5 on Trustpilot, user reviews are mixed, with some praising the quality of the platform while others criticize specific aspects such as withdrawal times. It should be noted that there are only 16 reviews.
