Deribit
Deribit
Data verified on unchanged since the sources
Worth it if you trade crypto options: over 85% of global open interest sits here, with leverage up to 100x and a Dubai VARA licence.
Avoid it if you are a beginner or trade from the US, Canada or Japan: access from those countries is blocked and options complexity is unforgiving.
Deribit is the benchmark for crypto options, accounting for over 85% of global open interest, with 0.03% taker fees and a strong institutional focus under a Dubai VARA licence. It is not available in the US, is Panama-based and its options-centric complexity makes it unsuitable for beginners.
Data & conditions
| Maker / Taker fee | 0.02% / 0.06% |
|---|---|
| Markets | Derivatives |
| Max leverage | 100× |
| Supported assets | 2+ |
| Trading pairs | 80+ |
| 24h volume | $1.5B |
| Fiat on-ramp | Yes |
| Deposit methods | Crypto deposit (BTC, ETH, USDC, SOL, etc.), Fiat onramp via Legend Trading (wire, SEPA, Faster Payments, PIX, credit card, 41+ currencies) |
| Geo restrictions | US, CA, JP, IR, IQ, KP, PA, PR, GU, VI, AS, SD, SY, WS |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | EEA, APAC, LATAM, MENA · 50+ countries |
| Regulator | VARA (Dubai) |
| OAM Italy registration | No |
| Segment | B2C |
| MiCA / License status | Crypto Asset Service (Dubai VARA) Registrazione Panama |
Strengths
- #1 crypto options with 85%+ OI global; fee 0,03% taker; institutional leader.
- No notable sovereignty advantage documented.
Weaknesses
- No US; complessità options; Panama-based.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
- Subject to regulation (Registrazione Panama): reporting to authorities and freezes on order.
- Geographic restrictions (US, CA, JP, IR, IQ, KP, PA, PR, GU, VI, AS, SD, SY, WS).
Verdict
The S reflects near-total dominance in crypto options — over 85% of global open interest — combined with 0.03% taker fees and a Dubai VARA license with a strong institutional focus. Tempering the score for the average user are the Panama base, the unavailability in the US and an options complexity that makes it unsuitable for beginners, rather than any single incident.
However much it is the market's technical benchmark, Deribit stays custodial and full-KYC: funds are entrusted to the platform and identity is mandatory, far from the trustless ideal. Options leadership is expertise, not sovereignty.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
Reputation
What happened to people who used Deribit, and what users say. External signals: they do not feed the promp.it rating.
Incidents & regulatory actions
Past incidents, resolvedDocumented and closed events. They stay on file: an operator’s past is data, not a verdict.
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Hack / funds theft Moderate $28M ✓ resolved
Hot wallet compromised for USD 28 million in BTC, ETH and USDC: no client lost funds, the loss was covered by the company's own reserves
Shortly before midnight UTC on 1 November 2022 Deribit's hot wallet was compromised: USD 28 million left in BTC, ETH and USDC (the latter immediately converted into ETH). Deribit locked all withdrawals at once, including third-party integrations (Copper Clearloop, Cobo Loop, Banxa), and disclosed the incident on its X account at 07:00 UTC on 2 November. Withdrawals reopened the same day: Copper Clearloop and Cobo Loop at 15:30, ordinary on-chain withdrawals at 23:00 on 2 November. The official incident report of 7 November 2022 states that trading, client assets, the Insurance Fund, Fireblocks, Copper Clearloop, Cobo Loop and every cold storage address were untouched, that there are no indications of client or account information being compromised, and that unauthorised client withdrawals were zero. The loss was absorbed by the company's balance sheet — not by the Insurance Fund, which at the time held around USD 40 million. On 2 November management of BTC, ETH and USDC moved entirely to Fireblocks, with every withdrawal requiring manual confirmation by an administrator (stated target window: 60 minutes). The stolen funds stayed put until 5 November, when they were routed into the Tornado Cash mixer. ⚠️ Two points this registry keeps explicit. First: the official report does NOT say how the attacker got in — only that the hot wallet «was compromised». The sole explanation in circulation is a statement by chief commercial officer Luuk Strijers to the press («hackers have gained access to our wallet server»), which does not appear in the company document: it is reported as a statement, not as an established cause. Second: the event dates to November 2022 and concerns Deribit B.V. as a standalone, Panama-registered company. Coinbase's acquisition closed in August 2025, almost three years later: this is not a Coinbase-era incident and it has not been replicated onto the Coinbase cards.
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FAQ
What are Deribit's fees?
On Deribit, spot fees are maker 0.02% / taker 0.06%. They drop with monthly volume and VIP tier.
Is Deribit regulated in Europe?
Regulatory status of Deribit: Registrazione Panama. Licence: Crypto Asset Service (Dubai VARA) (AE).
Does Deribit publish Proof of Reserves?
Deribit publishes Proof of Reserves. No third-party reserve audit is documented. Reserve transparency is a critical factor after the FTX collapse.
Can I send transfers to third-party IBANs from Deribit?
No, Deribit is an exchange and does not allow transfers to third-party IBANs: fiat withdrawals return to a bank account in your own name.
Does Deribit support derivatives and futures?
Deribit offers derivatives trading, with up to 100x leverage.
Sources
- Official service page Maker/taker fees · Regulatory framework · Derivatives Data verified on Jun 13, 2026
- blog.amlbot.com Past incidents Data verified on Jun 14, 2026
- coingeek.com Issuer · Acquisizione Data verified on Jun 14, 2026
- coinwire.com Deposito · Paire Data verified on Jun 14, 2026
Show 3 more sources
- hackerone.com Bug bounty · Third-party audit Data verified on Jun 14, 2026
- investx.fr Trustpilot · Iso27001 · Soc2 Data verified on Jun 14, 2026
- smartoptions.io Volume 24h · Coppie Data verified on Jun 14, 2026