- Zero makers and taker fee feature will be launched soon on Deribit.
- Deribit accounts for over 90% of the open interest in Bitcoin and Ethereum options.
Deribit, a Panama-based futures and options trading exchange, announced its plans to introduce a new spot trading feature soon. The upcoming feature will have zero maker and taker fees.
According to the available data, Deribit accounts for over 90% of the open interest in Bitcoin and Ethereum options, with over $500 million in 24-hour volume. The new platform will be launched on April 24, offering three pairs: BTC/USDC, ETH/USDC, and ETH/BTC.
The largest and most popular crypto options exchange will offer the zero makers and taker fee feature, which means there will be no margin for the exchange. The accessibility of spot trading is termed as users can buy or sell BTC and ETH instantly, in which payment and delivery of underlying assets are made on forthcoming dates.
Luuk Strikers, the Chief Commercial Officer of It, said, “After adding upcoming features, It will boast comprehensive derivative and spot trading solutions, fulfilling the multifarious needs of the traders in the digital asset space.”
Luuk added its spot trading feature serves as an exceptional tool for exchanging collateral like BTC and ETH with additional service of zero costs, further enhancing the overall trading experience for its users.”
Earlier in November 2022 TheCoinRepublic reported that hackers exploited the hot wallet of Deribit and wiped out over $28 Million. After the hack options trading exchange paused its withdrawals to avoid more losses.
According to Its website, its services are unavailable in the United States, Japan, Canada, and several other countries. The exchange does not have a license to operate in the USA and does not serve any US user.
Since its launch, the exchange has raised $140 million in funding in two rounds. Akuna Capital,10T Holdings and QCP are the leading investors of Deribit.
The exchange has invested in six organizations, including Qredo, Horizon Labs, Coliseum, Thetanuts Finance, and Greeks. live, and Finst. Thetanuts, Coliseum and Finst, are its lead investments. After investing €4 million in Finst, It became one of the leading investors.
According to CoinMarketCap, Bitcoin, the leader of cryptocurrencies, is trading at $28,844.67 with a 24-hour trading volume of $20,472,262,238. For the last few days, BTC was trading at $30k, but on April 17 morning, the prices mirrored a decline of $1500 and started trading at $28k.
Disclaimer
The views and opinions stated by the author, or any people named in this article about Deribit are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/04/20/zero-fee-spot-trading-feature-will-be-live-soon-on-deribit/