Deribit crypto derivatives exchange has launched its zero-fee spot trading, scheduled to start on April 24. The product will initially support three cryptoasset pairs: BTC/USDC, ETH/USDC, and ETH/BTC.
Deribit introduces zero-fee spot crypto trading
In a bid to offer its users a simple and cost-free solution for exchanging collateral with minimal taker hurdles, Deribit, a leading crypto derivatives exchange established in 2015, is adding zero-fee spot trading to its suit of products.
Per an announcement by the centralized Panama-based derivatives exchange for crypto options and futures trading, from April 24, at exactly 1 PM UTC, users will be able to enjoy zero-fee spot trades for the supported BTC/USDC, ETH/USDC, and ETH/BTC pairs.
The exchange says its new zero-fee crypto spot trading offering is aimed at fostering liquid markets, while also minimizing taker hurdles for traders. Unlike its existing futures and options products, Deribit has stated that its zero-fee spot model does not support volume discounts, affiliate or partner sharing.
Increased investor activity
Despite losing over $28 million to hackers last November at the peak of the chilling crypto winter that contributed to the demise of several web3 businesses last year, Deribit has managed to remain solid, boosting consumer confidence in the firm.
Deribit claims it has witnessed increased investor activity this year, with open interest on the platform hitting an all-time high of over $20 billion in March.
As reported by crypto.news last January, Deribit hinted at expanding to Dubai by the third quarter of 2023, pending regulatory approval by authorities in the crypto-friendly region.