Deribit, a popular cryptocurrency derivatives platform, has announced the launch of fee-free spot trading, allowing clients to buy and sell crypto while simultaneously managing risk using other derivatives.
Spot trading will begin April 24, 2023 at 13:00 UTC with three pairs (BTC/USDC, ETH/USDC, and ETH/BTC), providing clients with a simple and free solution to trade collateral and eliminating the need for asset conversions external. . Clients will benefit from a no-fee structure to trade these pairs.
Aiming to foster market liquidity, Deribit will offer 0% fees for onsite makers and takers. Note that due to this structure, there will be no volume discounts or affiliate/partner sharing offered on this model.
“Our goal has always been to provide our users with a comprehensive exchange platform that meets all of their trading needs. After years of being the leading crypto derivatives trading platform and ensuring that our exchange has the most high level of security and transparency, we have decided to apply our expertise to spot trading.By adding spot trading to our existing futures and options products, we are now able to provide a comprehensive exchange offering that caters to all types of traders.
– Luuk Strijers, COO at Deribit
Currently, Deribit offers options, inverse and linear perpetuals, and futures (including volatility futures) for three base currencies (Bitcoin and Ethereum, and USDC), allowing investors to efficiently manage risks and hedge their investments. With the addition of spot trading, Deribit now serves a wider range of traders looking to trade directly between assets with immediate delivery and ownership.
The introduction of free spot trading capabilities comes shortly after Deribit launched BTC DVOL futures, a contract based on DVOL (the Deribit Bitcoin Volatility Index) that makes it easier to trade bitcoin volatility. Deribit has also seen a continued increase in investor activity, seeing open interest on the platform hit an all-time high of over $20 billion on March 30, 2023.