Deribit, a cryptocurrency options exchange, has added zero-fee spot trading

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By Degen Lipsa

Because the spot market is now available, traders no longer need to go elsewhere to exchange key cryptocurrencies and can set up multi-leg sophisticated strategies in one location . This is possible because of Deribit.

Deribit, the world’s largest cryptocurrency options exchange in terms of open interest and trading volume, will launch a new spot trading tool.

The exchange, which accounted for 91% of worldwide options open interest of more than $13 billion in March, announced that the new platform will go online on April 24 and would provide three pairs: BTC/USDC, ETH/USDC, and ETH/BTC.

Deribit has added zero-fee spot trading
Deribit has added zero-fee spot trading

The feature will have zero maker and taker fees, which means there will be no exchange margin. Makers place orders and then wait for them to be filled, whereas takers reduce liquidity by accepting available orders.

Users can now buy and sell bitcoin (BTC) and ether (ETH) instantaneously, in addition to trading derivatives in which payment and delivery of the underlying asset are delivered at a later date. It also means that expert traders will be able to put up multi-leg complex strategies combining both the spot market and futures and options contracts in a single location.

“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,” explained Luuk Strijers, Deribit’s chief commercial officer.

“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,” Strijers explained.

Deribit began trading bitcoin options in 2016 and has now grown into perpetual and futures markets for three base currencies: bitcoin, ether, and the dollar-pegged stablecoin USDC. It is backed by investors including crypto venture firm 10T Holdings and trading firm Akuna Capital.

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