Deribit To Join Cryptocurrency Exchange MarketAugust 30, 2018
When it comes to trading Cryptocurrencies, the users have to part with high transaction costs. They also have to wait for some time before the transactions are processed. Deribit has launched a Crypto exchange with the promise to address these core challenges. The new exchange will increase the chances of traders winning in the volatile Crypto market.
Deribit Introduces A Cryptocurrency Exchange
Crypto traders will now have more option when it comes to Cryptocurrency exchanges after Deribit officially launched its platform. According to the company, the new exchange can handle thousands of transactions per second with a speed of up to a few milliseconds per order. The exchange will significantly reduce transaction cost to the benefit of Crypto traders and the entire sector.
According to John Jansen, the company has spent the better part of this year building and optimizing the system to deal with the ever-increasing enormous volumes. The CEO of the new exchange added that the platform allows server nodes to be easily introduced. The various nodes allow replication of trading books so that in case one node fails the others take over.
Two weeks ago, the company launched the Deribit Perpetual. The product has already gained popularity on the exchange becoming the most used one. Since its introduction, the exchange has experienced over a 50 percent increase in volume.
Crypto Traders To Pay A Low Fee
Deribit Perpetual tracks Bitcoin prices and lets the users take positions without the need to exchange any currency. Traders will only be paying a low fee enabling them to take large positions even when they have a small capital. This feature will be of great benefits to the users as it will enable them to be more active.
The CEO says the exchange charges a low fee as it relies on the high volume. Currently, he says they have a trading volume of $60 million most days. Consequently, the revenue they collect is enough to cover expenses and expand to new markets. At the same time, they are able to charge a fee that most of the exchanges cannot charge their customers.
Crypto traders on the new exchange pay a fee of only 0.025 percent on limit orders and 0.075 percent on market orders. According to the Deribit, the traders will be able to take 100 times leverage with the company’s fair liquidation. This feature will cushion the trader when closing out of a leveraged trade.
Where Is Deribit Headed?
Users can currently access Deribit on the web and using their iOS and Android mobile phones. Jansen has said they have been receiving great feedback from their customers on the mobile app which is great for the company. He added that they provide their customers with a super-fast API which enables trading programs.
Jansen has revealed that in the coming weeks, they will introduce futures and Perpetual for other Cryptocurrencies such as Bitcoin Cash and Ethereum. Apart from upgrading the platform, the company will introduce its products to the Trading View app. He added that they are planning to introduce new products in the future.