Deribit Review 2025 - The best alternative to Bitmex?

Deribit is a margin (leverage) trading exchange based in the Netherlands, founded in 2016. In this review, we will take a look at Deribit’s supported cryptocurrencies, supported countries, trustworthiness and customer support.

Hopefully, by the end of this Deribit review, you will have made up your mind about whether or not you should try using Deribit.

Deribit offers futures, perpetual contracts, and options trading for its customers. Deribit is one of the few exchanges to have options trading available, so if that is something you would like to use - definitely check out Deribit.

Deribit offers up to 100x leverage on Bitcoin’s perpetual contracts, futures, and options. For Ethereum’s perpetual contracts, futures and options Deribit offers “only” a 50x leverage.

Using high leverage can quickly make you a lot of money even when trading with small amounts, but be careful as you will lose money as quickly.

Deribit’s trading engine is great. Deribit does not suffer from overload issues as much as Bitmex. Even though Deribit has less liquidity than Bitmex, I still do not get nearly as much slippage on my stop-losses or market orders as in Bitmex, especially during times of high volatility.

Deribit’s user interface is beautiful - everything is easy to understand and use. In fact, Deribit’s user interface is my favorite of all cryptocurrency exchanges. You can choose between two different themes - light and dark version.

Deribit also offers a paper-trading or “demo” account. You can use the “demo” platform to practice trading and familiarize yourself with the features available on the Deribit’s platform before moving to the real thing and trading with real money.

Deribit launched mobile apps for both iOS and Android in 2017. In addition to their already mobile-responsive website, you can now manage your trades conveniently from your smartphone.

Furthermore, what makes Deribit amazing is the fact that they process withdrawals instantly - unlike their competitors Bitmex (once a day) and Bybit (4 times a day).

Deribit supports the following cryptocurrencies:

In order to trade Bitcoin futures, perpetual contracts or options, you have to deposit Bitcoin into your account. If you want to trade Ethereum futures, perpetual contracts or options you have to deposit Ethereum into your account. Deribit does not accept any other currencies besides BTC and ETH.

Deribit has a very competitive fee structure:

Taker orders are orders that get filled immediately. Maker orders are orders that go first into the order book and then get filled. Deribit actually pays you for making a maker order and getting it filled.

Deribit is available all over the world, except for the United States. Some people use a VPN (Virtual Private Network) to get around that limitation, but doing so and getting caught, might result in your account being locked.

Deribit has had a couple of system malfunctions, where their trading engine reports wrong prices and people got liquidated for no reason, other than their malfunction. They decided to refund all affected customers, which is a very trustworthy and good sign in my opinion.

Deribit has never suffered from any major hacks and they have great security protocols in place to protect customer funds.

Overall, I would deem Deribit a safe and trustworthy margin trading exchange to use.

Deribit offers customer support via live chat and e-mail. In addition to the customer support team, they also have a comprehensive knowledge base and FAQ section, where you can learn all about their platform - how they calculate fees, how is the current price determined, etc.

Personally, I have never had any issues with Deribit’s customer support team, they answer rather quickly and all of my issues have always been solved in a timely manner.

Deribit is an excellent choice for someone seeking an alternative to Bitmex, or for someone who is looking to start trading options in the cryptocurrency world.

Personally, I have used Deribit for almost a year now and I since fell in love with their platform.