Deribit is among the leading cryptocurrency exchanges controlling the largest market share in options and futures trading. The exchange also offers spot cryptocurrency trading making it an all round crypto trading platform. Here, we look at how to create an account on Deribit and the simplest way to verify your identity to become a recognized user. We shall also touch on the right way to deposit funds and check whether the platform welcomes new users with bonuses.

How to Sign up on Deribit Exchange

To start your crypto trading journey on Deribit, access the exchange's official website and select “Get started” or “Create Account.” On the next page, enter your email, username, password, country of residence and agree to the terms of service, and click “Register.”

Deribit will display a message that “The account has been created successfully” and will request you to click a link sent to your email to activate the account. Clicking the link automatically verifies your account.

Identity Verification on Deribit

A verified account goes well with a verified identity. Click your profile avatar at the far right-hand corner of the exchange’s homepage and select “Verification.” Specify whether you have an individual or corporate account. 

Fill in your personal and address information like name, date of birth, city, nationality, and postal code, and click “Save.”

Next, fill in the “Financial Profile” section. Details needed in this section include specifying the purpose of your account, the source of funds you intend to deposit on the exchange, your employment status, your estimated annual income, and your estimated net worth. Click “Save” after providing all the information required.

Clicking “Save” takes you to the “ID Verification” section. Here you can either use your government-issued ID or passport to verify your identity. To use your ID, select “No” under “Do you have a valid passport.” 

You can opt to upload an image already saved on your computer or take a live image of your ID. Clicking “Upload ID” allows you also to take a selfie. Lastly, fill in the “Proof of residence” section.
 

Depositing Funds on Deribit

To deposit funds, click the “Wallet” icon on the upper right-hand corner of the homepage. From the list, select the crypto you want to deposit and click the “Deposit” option. 

On the window that opens, click “Generate a deposit address.” Note that you can only deposit funds after you’ve successfully verified your identity.

Final Remarks

Deribit has a simple signup process but an elaborate identity verification process. Unlike other crypto exchanges with a clear rewards system to appreciate new users, Deribit doesn’t expressly have this provision. However, new users using referral codes may benefit from discounts on trading fees. 

This makes Deribit a platform for individual and corporate traders looking for a professional and reputable spot, options, and futures trading platform without focusing much on things like deposit bonuses.

You can start trading on Deribit by creating an account here.