Deribit is one of the leading cryptocurrency derivatives exchanges that specialize in options and futures trading. It offers a robust platform for traders to hedge risks, speculate on price movements, or take advantage of volatility in the digital asset market. One of the crucial steps to begin trading on Deribit is completing the registration and KYC (Know Your Customer) process.

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This guide provides a detailed, step-by-step explanation of how to register an account on Deribit and successfully complete the KYC verification to start trading options and futures.

What is Deribit?

Deribit is a cryptocurrency derivatives exchange that allows users to trade options, futures, and perpetual contracts for popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The platform is known for its high liquidity, fast execution times, and a wide range of products that cater to both professional traders and retail investors.

When you trade on Deribit, you have access to leverage, advanced trading tools, and real-time market data. The platform supports both spot and derivative trading, but to access these features, it’s necessary to complete the registration and KYC process.

Why Complete KYC on Deribit?

KYC verification is a mandatory process that ensures that users are compliant with international financial regulations. KYC helps prevent fraud, money laundering, and other illegal activities. By verifying your identity, Deribit ensures that the platform remains secure for all users.

After completing KYC verification, traders can enjoy higher withdrawal limits, increased account security, and access to advanced features. Without KYC, your account may have limited functionality, especially in terms of withdrawal limits and certain trading features.

Step-by-Step Guide to Registering and Completing KYC on Deribit

Follow these steps to create your Deribit account and complete the KYC process.

Step 1: Visit Deribit’s Official Website

Start by visiting the official Deribit website. You can do this by typing into your browser’s address bar. Always ensure that you are on the official website to avoid phishing sites.

Step 2: Click on “Sign Up”

Once you are on the homepage, you will see a “Sign Up” button at the top right of the page. Click on this button to begin the registration process. This will take you to the registration page where you can create a new account.

Step 3: Fill Out the Registration Form

On the registration page, you will be required to provide some basic information. This includes:

• Email Address: Enter a valid email address that you will use to receive notifications, security alerts, and account verification emails.

• Username: Choose a unique username that you will use to log in to your Deribit account.

• Password: Create a strong password that is at least 8 characters long and contains a mix of upper and lower case letters, numbers, and special characters. This is essential for the security of your account.

• Referral Code (Optional): If you have been referred by someone, you can enter the referral code here to get possible benefits such as discounts on trading fees.

Once you have filled out the registration form, click on the “Create Account” button to proceed.

Step 4: Verify Your Email Address

After registering, Deribit will send you a verification email to the address you provided during registration. Go to your inbox and open the email from Deribit. Inside the email, there will be a verification link. Click on this link to confirm your email address.

If you do not see the email in your inbox, check your spam or junk folder. After verifying your email, you will be able to log in to your Deribit account.

Step 5: Enable Two-Factor Authentication (2FA)

To ensure the security of your account, it is highly recommended to enable Two-Factor Authentication (2FA). This feature provides an additional layer of security by requiring you to enter a code sent to your mobile device every time you log in or make a withdrawal.

To enable 2FA:

1. Log in to your Deribit account.

2. Go to the Security Settings section under your account settings.

3. Follow the instructions to enable 2FA using an app like Google Authenticator or Authy.

4. Scan the QR code displayed on Deribit using your chosen 2FA app and enter the code to complete the setup.

After enabling 2FA, your account will be more secure.

Step 6: Begin KYC Verification

Now that your account is set up and secured, the next step is to complete the KYC (Know Your Customer) verification process. KYC is mandatory on Deribit to comply with financial regulations.

To complete the KYC process:

1. Log in to Your Deribit Account: Use your registered email and password to log into your account.

2. Go to KYC Section: Navigate to the KYC or Identity Verification section, which can be found under your account settings.

3. Provide Personal Information: You will be asked to provide personal details such as your full name, date of birth, nationality, and residential address. This information helps Deribit verify your identity.

4. Submit Identity Documents: The next step requires you to upload official identification documents. Typically, Deribit will ask for:

   • Government-Issued ID: A clear photo or scanned copy of a passport, national ID card, or driver’s license.

   • Proof of Address: A document showing your current residential address, such as a utility bill, bank statement, or rental agreement. The document must be dated within the last three months.

5. Selfie Verification (if required): Some KYC processes require a selfie to ensure that the documents match the user’s face. You may be asked to hold your ID and take a selfie for verification.

6. Submit Documents: After uploading all the required documents and completing the identity check, submit your KYC application for review.

Step 7: Wait for KYC Approval

Once you have submitted your KYC documents, Deribit’s team will review your application. This process usually takes a few hours but can take longer if there is a high volume of applications or if your submitted documents require further verification.

You will receive an email notification once your KYC verification is approved. If there are any issues with the documents, Deribit will inform you, and you may be asked to resubmit them.

Step 8: Deposit Funds and Start Trading

After successfully completing the KYC process, you can deposit funds into your Deribit account. Deribit accepts deposits in Bitcoin and Ethereum. You can also transfer funds from your wallet or other exchanges to your Deribit account by navigating to the Deposit section in your account.

Once your funds are in your account, you can start trading options, futures, or perpetual contracts. Deribit offers various advanced trading tools, including options pricing models, risk management features, and leverage options, to help you trade effectively.

Conclusion

Completing the registration and KYC process on Deribit is straightforward, but it is essential to ensure that you provide accurate information and follow the required steps carefully. KYC is a crucial part of the process, helping ensure the platform remains secure and compliant with regulations.

After finishing KYC, you will have full access to Deribit’s trading features, and you can begin trading cryptocurrency options and futures confidently. Always remember to use strong security measures, such as enabling 2FA, to protect your account from potential threats. Happy trading!