Called Deribit Perpetual, the platform has exited its beta and is now available to investors with BTC-USD swaps that can be traded with up to 100x leverage.
Deribit Introduces a Blazing Fast Version of the BTC-USD Perpetual Swap! Get used to execution speeds of only a few milliseconds, continuous funding payments and more…. https://t.co/5OxamdComG pic.twitter.com/ulLkGop61J
— Deribit (@DeribitExchange) August 14, 2018
Deribit Perpetual is the second major exchange to offer perpetual trading, which allows traders to take positions at high leverage without any bitcoin actually changing any hands. In terms of existing exchanges, BitMEX currently offers perpetual trading and is currently the world’s leader in bitcoin trading volume.
Deribit emphasizes its low fees, where it charges 0.075% on market orders and paying 0.025% on limit orders, which are some of the lowest available to traders. Since launching the Deribit Perpetual trading product, the Deribit platform has seen more than a 50% increase in trading volume in just a matter of weeks.
In a recent interview with Venture Beat, Deribit CEO John Jansen detailed the work put into the new exchange.
We have spent the first half year of 2018 building and optimizing our infrastructure in order to deal with enormous volumes. We now have an enormously flexible distributed infrastructure, where server nodes can be easily added. Every trading book is replicated on multiple nodes, so if a single node would fail others are standing by to take over.
Deribit reportedly plans to introduce futures and perpetuals for Ethereum and Bitcoin Cash in the coming weeks, but there are no definite dates at this time.
The continuous addition of leveraged Bitcoin trading platforms could have a significant impact on the price action of BTC, which has recently gained significant market dominance during the latest round of altcoin sell-offs. Currently, Bitcoin makes up 56.3% of the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.