Deribit Reviews 

Ive been a customer with deribit since 2020.
Could be 5 but there's just a few things missing, such as one comment stating you cant buy crypto- Totally valid as the KYC is extensive compared to competitors and to be able to buy crypto with fiat you are required to redo your KYC as its ran through a third party site. Surely this could be fixed since its now affiliated with Coinbase firstly. Secondly some options/future contracts just remain at 0 Liq the entire time- PAXG options/futures had more volume- Not complaining about the fees but not recommened if youre lower capital and high trades.

On the contrary as someone who has been using this exchange for 5+ years now, these are the aspects I thoroughly enjoy-
Good strategies for generally all spreads
the withdrawals and deposits are generally quick
relatively good market update time with generally good 24H volume and liq
their fully customizable layouts with no limits- Tradingview charts with all of their Main indicators
just a generally clean looking exchange and if you dont like it you can tailor it to your preference/
Also the ability to create individual subaccounts and transfer positions between them- Their position builder could use a little more TLC but overall great exchange- Pretty rapid support- Decent fees and fast deposits/withdrawals- and most importantly, Great optionality in the layouts/interfaces.

Many thanks Deribit-
(Wouldn't mind a shirt <3 )

I used the platform for very long time without any particular trouble. Unfortunately more than 2 weeks ago I was blocked for a KYC update (which is totally fine), I re-submitted my documents (which are the same of last year, when I was approved) and since then I had no updates. I sent multiple emails with zero or useless answers, and I simply can't operate on the platform since then.
Unfortunately it's a good platform but with a totally unreliable customer support

Scam warning. The site took 100% of my profit as a fee. I put in $2k to test the trustworthiness of this site. I bought an option that doubled in value and sold the option. They only credited my account with the original purchase price of the option and my profit was never reflected in my wallet. I withdrew my balance and it was approved surprisingly. So 1 star instead of zero I guess.

Deribit support have difficulty to keep up with demand. All I asked for was a simple reset of 2FA. Did exactly what was requested from me and in return got very confusing messages, but no resolution. Tickets are closed without any proof of action taken and my request remained unresolved. I have difficulty to trust my money to this company as no 2FA means no access and no possibility to withdraw your funds. Edit 07-12: The issue has finally been resolved. I think the unnecessary high levels of communication (causing confusion on both sides) is mainly driven by the lack of speed of Deribit's support, without wanting to blame individuals by the way.

Edit 28-04-26: The date of the reply of Deribit says it all. I rest my case.

Deribit locked about 20K of my friend`s funds.
They set withdrawal limit = 0 & claiming for full REverification and additional posing with ID and handwritten ticket.
All repeated KYC docs immediately refused.

Avoid Deribit & Coinbase US exchanges !
AML+KYC = SCAM sooner or later

Crappy App:
- Asks for non-existent updates and kicks you out of the App.
- Can't buy crypto with FIAT because "Complete your verification" although it is already done.
- Therefore can never buy any crypto.
- Overall messy appearance of the app.

Overall: No need for the platform if you can't buy any crypto on it.

I'll give you 5* when withdrawal process will automated.

I am using Deribit for a couple of weeks now and I really like the platform so far.
Customer support, tools and indicators provided with it are a big plus.
This, combined with spot and options commissions made me opt for Deribit instead of other exchanges on the market.
Also, thanks to Aleks who is very responsive for assistance on the platform.

Some suggestions:

-Show a "Max DD" (both n. and %) column in the trade report, on the PNL chart, and per trade in portfolio. Preferrably also visible in euros and dollars.

-More granular tick size also for 0.0005> options.

- General bugs fix on android app (sometimes freezes, "positions" and "open trades" often show 0 even if logged in).

I will possibly improve the rating in a few months when I will be sure 100% of its operational stability, which as I already stated, has been very good so far.

I've been using Deribit for a while now, and it's the best and largest platform for trading crypto derivatives. The inclusion of new tech, instruments, support availability and trading experience is smooth, plus it has one of the best order latencies compared to other platforms. Keep in mind that trading options and futures is not easy, so it's best to learn more about the platform and the instruments through their knowledge base.

Definitely by far the best place for crypto option liquidity. It's often possible to get filled between the bid/ask as well, which I have not found to be the case elsewhere.
The UI still needs some work in several areas I would say, but in terms of placing option trades at the best price, Deribit is the best. Particularly for BTC and ETH, though they have recently added options on some alts as well.

They've also been around for years, and have a good track record and reputation, so I feel safer having my funds on there than on most other exchanges. But it's still best to keep most of your funds in your own wallets. Not your keys, not your coins!

If i could i would have given it a 0 star review, terrible platform, canceled order stay on so you enter a trade unwillingly, terrible fees and you can't even see what your profit or los if so risk management is out of the clue.
It's a old platform owners take barely any effort in making improvements.

Advise: search for something else

Fast. A great variety of derivatives. Costumer support is also fast and responsive

Fast and reliable system. They are market leader, so looking for derivatives in crypto this is the place. They also have trading app which is also a big plus.

Honestly this is the best exchange for futures and options trading. I've been using them since 2017, system is fast and reliable, low cost and super fast.

A good exchange for trading futures and options. I traded on different exchanges (Bitmex for example), but there were errors and disconnections. Deribit worked the most stable.

Been an active user for 3 years. Highest volume and most liquid BTC & ETH Options exchange. Do not use if you have no experience with Options and how market makers operate... Only downside is that on high volume days lately the GUI might freeze up for a few minutes.

Really bad in general. When you have position a trade open is impossible to see a basic profit/loss or balance. Too many data worthless.
The platform is very unfriendly.
Now, I have an Option BTC JAN15 in the money and the price is BID 4,000 ASK 5,458 so look the spread!. I am not happy with this. They normally have bad spreads, like 300$ but this is like robbing me.
Really disappointed. Waiting to close this trade and get out of this bucket shop.

Clearly a lot of bots, though can't say if any are their own or if it's just a lot of client bots. My gripes are that you can only use prices in multiples of $10 while most sites allow 1$. Couple that with no USD based balance being shown anywhere on the site and you have problems trying to hedge your balance, you can only get something close to an accurate hedge but never an exact one like you can on sites that actually care about customer convenience. Another thing that will tick you off is the fact that there's a 3 day delay on withdrawal addresses after you enter them in the address list, no matter what you do. The thing that is supposed to let you change the delay to 0 days just doesn't work, and I don't believe there's any way to make it work. I seriously think they purposely lock your funds up in there for 3 days just so you can't remove them and are therefore more likely to lose them before being able to withdraw them.

The fact that they don't reply to complaints right here on TrustPilot, which I'm sure most exchanges are aware of existing, tells me that they really don't care at all about their customers or potential customers. Maybe since they moved operations to Panama they're not even trying anymore. Actually the only good things about Deribit are that aside from having your funds locked up for 3 days you can withdraw at any time of the day, which is a big improvement over the sites that only do withdrawals once a day or at 3 certain times a day, and the fact that funding is constant instead of at 3 certain times a day like the others, so prices do stay closer to index than the other sites which pretty much ignore the index until the funding times get close, making the index pretty pointless to even have. So really if they just made the minimum position amount $1 and got rid of the withdrawal waiting function completely, unless it actually worked, right away, the first time you tried to make it 0 days, which it DOES NOT, it would probably be as good an exchange as their competitors, which they currently are clearly not. Right now it's basically a site designed to tick users off, as far as I can see, and they do a good job of it.

One last gripe, the way the "transaction log" is set up you never know what your balance really is. It's definitely not what it says in the "balance" column. You don't know what the balance really is until settlement time, once a day, unless you calculate it yourself by doing math on the "cash flow" column and the "balances" column. I guess the wallet balance on the main page is close to what it actually is but that's not as accurate a figure as the one in the transaction log balance column because it's only 4 decimal places instead of 8. All they had to do was put the actual balance on that transaction log page and people would have been 99% less ticked off. See this is another example of them just not caring about their customers at all, apparently. I mean why even put something labeled balance if it's not the real balance at the time other than to tick people off? There's literally no other possible outcome from that, same as with locking your funds in there for 3 days. That was not on the site before recently. Apparently they figured things weren't annoying enough for their customers so they had to up the ante of annoyingness by tossing that grenade in there.

Deribit scammed me of my money. This occurred with their BTC options. I have seen time and time again that their predatory market makers have continuously manipulated options prices to liquidate retail traders' accounts. There is a high probability that Deribit has an agreement with its market makers to take a cut of the ill-gotten profits. The option prices can all of a sudden have spread widen so much that it is impossible to buy nor sell nor exit a position unless you want significantly reduced profit or a larger than expected loss. Profit and loss is determined by the mid price, which Deribit claims is to deter price manipulation. But THEY are the ones doing the manipulating! I have seen options prices swing drastically despite the underlying BTC price not moving. I suspect this is to wipe out retail traders and pocket the huge profits for themselves by margin and liquidating unsuspecting accounts. YOU HAVE BEEN WARNED. Never dare using Deribit again. A FRAUD excuse of an exchange.