Deribit, a leading crypto options exchange, has announced the launch of a zero-fee spot market, according to a press release on April 20.
The platform, which currently handles over $3 billion in daily trading volume, will now allow users to trade spot cryptocurrencies without incurring any fees.
The move is part of Deribit’s efforts to expand its offerings beyond options trading and attract a wider range of users to its platform. The exchange has already seen significant growth in recent years, and the addition of a spot market is expected to further boost its user base.
According to the announcement, the zero-fee spot market will initially support trading in four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). More cryptocurrencies are expected to be added in the future.
In addition to the zero fees, Deribit is also offering a 0.02% maker rebate for users who add liquidity to the platform’s order book. This is designed to incentivize traders to provide liquidity and improve the overall trading experience on the platform.
The new spot market is expected to compete with other popular crypto exchanges such as Binance, Coinbase, and Kraken, all of which offer spot trading with varying fee structures. However, Deribit’s zero-fee model is likely to make it an attractive option for traders looking to save on trading costs.
Deribit CEO, John Jansen, said in the press release:
“We are excited to be adding a spot market to our offering, enabling users to buy and sell cryptocurrencies directly without paying any fees. This is a significant milestone for Deribit, and we believe it will help us to continue our strong growth trajectory.”
The announcement comes at a time of increased competition in the crypto exchange space, as more and more platforms look to expand their offerings and attract new users. The growth of decentralized exchanges (DEXs) has also put pressure on centralized exchanges to innovate and offer new features to stay competitive.
Deribit is well-positioned to compete in this environment, with a strong focus on options trading and now a zero-fee spot market. The exchange has also recently launched a new mobile app, making it easier for users to trade on the go.
Deribit Zero Fee Spot Trading
Overall, the addition of a spot market is a positive development for Deribit and its users, providing a new way to trade cryptocurrencies without incurring fees.
The move is also a sign of the continued growth and evolution of the crypto exchange space, as platforms seek to differentiate themselves and offer new features to stay ahead of the competition.