thanks. no actual KYC process suggests it's like bitmex. i guess i'll just take a shot with VPN using a small bankroll and try it out.
i've just gotten paranoid since bitmex started posting those notices about USA and Quebec residents. rumors are floating around that they're shutting down USA users who trade through VPN but it's impossible to confirm anything. so i'm looking for alternatives, in case they give me the boot.....
Topic: Can anyone give some info over Deribit exchange? (Read 214 times)
There are several reviews out there suggesting that Deribit is better compared to BitMex[1]. Exchangewar listed them at the 15th spot.[2] There is no KYC as far as I'm aware, I don't see any menu to do KYC on their account page (unless I missed it). Just signed up using an email and then click the activation link, and we're good to go.
[1] https://medium.com/@getgoodcrew/bitmex-drama-deribit-vs-bitmex-no-bullshit-comparison-fd7598eb1350
[2] https://exchangewar.info/
[1] https://medium.com/@getgoodcrew/bitmex-drama-deribit-vs-bitmex-no-bullshit-comparison-fd7598eb1350
[2] https://exchangewar.info/
also, anyone know how they approach KYC, VPN usage and/or USA residents? asking for a friend. 
Their terms say nothing about VPN usage. But they do contain these nuggets of info:
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Any resident or citizen of the United States of America or The Netherlands is prohibited from using the Website, holding positions or entering into contracts at Deribit.
That's expected; Bitmex prohibits US users just the same. Here's the tricky part. This is the only mention of KYC:
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We need your personal data, such as your contact details, to provide our services. In addition, we are required to collect your personal data in order to be compliant with regulations regarding Know-Your-Customer (KYC), Anti-Money Laundering (AML) and Counter Financing of Terrorism. For this reason, we may choose to not delete your personal data if relevant to an investigation or dispute.
I think there is no real KYC (ID, selfie). Just contact details. But I'm not sure. This article from last month suggest there's no real KYC:
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Reminder for US Citizens
Trading at BitMEX is against their terms and conditions. Deribit has no KYC.
Trading at BitMEX is against their terms and conditions. Deribit has no KYC.
anyone end up trying out deribit?
their data isn't available on tradingview but apparently it's on coinigy. oddly, it seems like it's not listed on coinmarketcap at all:
https://coinmarketcap.com/exchanges/deribit/
total volume across futures and options is ~17k over the last 24 hours. puts them in the top 50 by volume, slightly below coinbase. not huge, but might be okay for smaller positions and scalping.
any reviews welcome.....
also, anyone know how they approach KYC, VPN usage and/or USA residents? asking for a friend.
their data isn't available on tradingview but apparently it's on coinigy. oddly, it seems like it's not listed on coinmarketcap at all:
https://coinmarketcap.com/exchanges/deribit/
total volume across futures and options is ~17k over the last 24 hours. puts them in the top 50 by volume, slightly below coinbase. not huge, but might be okay for smaller positions and scalping.
any reviews welcome.....
also, anyone know how they approach KYC, VPN usage and/or USA residents? asking for a friend.
It all depends on whether or not Deribit operates its own internal market maker (which also trades to profit), and whether or not they provide data to external market makers. Given the vulnerable nature of these platforms when internal market making is happening, you can be sure of the fact that the house will cheat on you to be on the profitable end of the trade. In other words, you have to assume these platforms will abuse their own position against you.
But till date, I haven't heard a single complaint about them like they've cheated any of their users (or else I've not yet encountered any).
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The larger these platforms grow, the more there is for them to lose.
That's why I think that as Deribit is relatively new, it looks like a shooting star in the sky from which I can wish anything and it might come true, it's an early-bird opportunity for those who want to get rid of the dirty games that are being played at Bitmex through their market-maker.
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Just think about it, if you operate an internal market maker, and thus provide liquidity to keep your platform active, whales could and likely will empty your pockets if you don't do anything to counter/bust their trades.
True, someone needs to lose money for another one to win, but at what cost? Stopping those whales by locking their accounts for any/no reason is good?
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Funny thing about Deribit is that while their office is located in The Netherlands, people from there aren't allowed to use their platform. 
Never knew this. But I don't have anything to do with it, I'm interested in getting in if there's really nothing (like cheating or account closure without any valid reason) going on there as I don't really want to experience the same thing I did at Bitmex. I've had been into margin trading since the arrival of Bitmex that used to allow their users with leverage over cryptocurrencies (and is still giving it). What I don't like about them is that, their shady tricks are a loot over the skilled traders' money and those sudden pumps used to kill many sets of portfolios (it's their destiny they didn't get someone too big a whale to kill their wallets and ask for a withdrawal). I've come across Deribit, a place that allows the same type of features but is currently having less volume. Don't know about the manipulation levels there as I haven't tried them (and won't be trying until I get to hear from an experienced trader here that they're not like Bitmex and will not do the same, i.e., won't harm our portfolios by doing unnecessary pumps).
It all depends on whether or not Deribit operates its own internal market maker (which also trades to profit), and whether or not they provide data to external market makers. Given the vulnerable nature of these platforms when internal market making is happening, you can be sure of the fact that the house will cheat on you to be on the profitable end of the trade. In other words, you have to assume these platforms will abuse their own position against you.
The larger these platforms grow, the more there is for them to lose. Just think about it, if you operate an internal market maker, and thus provide liquidity to keep your platform active, whales could and likely will empty your pockets if you don't do anything to counter/bust their trades.
Funny thing about Deribit is that while their office is located in The Netherlands, people from there aren't allowed to use their platform.
I've had been into margin trading since the arrival of Bitmex that used to allow their users with leverage over cryptocurrencies (and is still giving it). What I don't like about them is that, their shady tricks are a loot over the skilled traders' money and those sudden pumps used to kill many sets of portfolios (it's their destiny they didn't get someone too big a whale to kill their wallets and ask for a withdrawal). I've come across Deribit, a place that allows the same type of features but is currently having less volume. Don't know about the manipulation levels there as I haven't tried them (and won't be trying until I get to hear from an experienced trader here that they're not like Bitmex and will not do the same, i.e., won't harm our portfolios by doing unnecessary pumps).
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