The world of cryptocurrency continues to expand and grow, as platforms look for ways to extend the range of services they can offer. Deribit, one of the world’s largest crypto options exchanges, is looking to jump to the next level with a new spot trading feature.
Zero Fees Spot Trading: Deribit Enhances Experience
Starting April 24, users of Deribit’s platformwill have access to three pairs for spot trading with zero maker and taker fees. These include BTC/USDC, ETH/USDC, and ETH/BTC. This means traders can buy and sell crypto immediately with no fees attached. Moreover, due to the capability of the spot trading feature, it opens the doors for sophisticated traders to work with both spot markets and futures and options contracts.
Deribit’s chief commercial officer, Luuk Strijers, commented on the platform’s new feature by saying, “With this latest addition, our platform now boasts a comprehensive suite of both derivatives and spot trading solutions, catering to the diverse needs of traders in the digital asset space. Our spot trading feature serves as an exceptional tool for exchanging collateral like BTC and ETH, with the added benefit of zero costs, further enhancing the overall trading experience for our clients.”
Options Trading: A Hedge Against Market Volatility
This news follows a huge month for Deribit which saw a huge growth in the number of ETH and Bitcoin options traded, pushing the total options turnover up to $25.5 billion. Due to the rise in interest, this has enabled through options trading to help people hedge their existing portfolios.
The increase in options trading comes in the wake of the U.S. banks failures resulting in market volatility. Deribit, who dominates the crypto options market, has seen record amounts of activity with the 24 hour period of Bitcoin options reaching $2.4 billion and the number of contracts traded for Ether totaling $948 million.
Secure Trading Solutions for Advanced Traders
Options give traders the opportunity to buy or sell an asset at a predetermined price at a certain date, allowing for more flexibility and a greater range of strategies. The demand for options has grown as uncertainty reigns in the markets and traders look for ways to protect themselves from any significant losses. As Richard Rosenblum of crypto trading and liquidity firm GSR mentioned, “Options are great tools for risk management. They enable the ability to focus on more nuanced outcomes.”
With the introduction of Deribit’s spot trading feature, the crypto options exchange has moved yet another step closer to becoming a one-stop-shop for advanced traders and investors. Its innovative move to allow zero maker and taker fees means traders can now benefit from free fees, while also looking forward to deep liquidity and improved trading experience. Additionally, its formidable presence in the options market means crypto users can be sure of protection against large shifts in the crypto market.
So, Deribit’s spot trading feature could be the way to go for traders and investors looking to take trading to the next level. With comprehensive derivatives and spot trading solutions, zero transaction fees, and a secure and reliable platform to consider, the future looks bright for Deribit and the crypto options market.
Disclaimer: Cryptocurrency trading involves significant risks and may result in the loss of your capital. You should carefully consider whether trading cryptocurrencies is right for you in light of your financial condition and ability to bear financial risks. (https://store.spaceylon.com/) Cryptocurrency prices are highly volatile and can fluctuate widely in a short period of time. As such, trading cryptocurrencies may not be suitable for everyone. Additionally, storing cryptocurrencies on a centralized exchange carries inherent risks, including the potential for loss due to hacking, exchange collapse, or other security breaches. We strongly advise that you seek independent professional advice before engaging in any cryptocurrency trading activities and carefully consider the security measures in place when choosing or storing your cryptocurrencies on a cryptocurrency exchange.
