Deribit to launch zero-fee spot Bitcoin exchange

Deribit, the largest exchange in the Bitcoin options space, will launch a spot-trading platform for cryptocurrencies on 24 April.

? Deribit to Launch Zero-Fee Spot Trading ?

? 24 April 2023, 13:00 UTC
? Maker 0% / Taker 0%.
? BTC/USDC, ETH/USDC and ETH/BTC#Cryptoptions #BTC #ETH #USDC #Cryptonews #DeribitExchange https://t.co/yLveNhbbLd

— Deribit (@DeribitExchange) April 20, 2023

The platform’s main feature is zero fees for taker and maker.

Initially, only three trading pairs will be available: BTC/USDC, ETH/USDC and ETH/BTC.

“Now we can offer clients a full spectrum of trading capabilities, including derivatives and spot,” said Deribit’s Chief Commercial Officer Luke Straiers.

According to him, commission-free trading will be available only “in the foreseeable future.” After a while, the exchange will begin charging fees on trades.

The spot-trading capability will appear seven years after Deribit was founded. Deribit’s share of the total open interest in Bitcoin and Ethereum options exceeds 90%.

Straiers emphasised that the trading platform will not be available in the United States, Canada, Japan, and several other jurisdictions.

Earlier in November last year, Deribit was hacked for $28 million. The attackers subsequently transferred the stolen funds to the Tornado Cash mixer.