Deribit, the crypto industry’s largest options trading platform, announced that it plans to launch zero-fee spot trading on April 24. The zero-fee trading will be for three trading pairs: BTC/USDC, ETH/USDC and ETH/BTC.
Luuk Strijers, Chief Commercial Officer at Deribit said:
Our goal has always been to provide our users with a complete exchange platform that meets all their trading needs.
After years of being the leading crypto derivatives trading platform and ensuring that our exchange has the highest level of security and transparency, we have decided to apply our expertise to spot trading. By adding spot trading to our existing futures and options products, we are now able to provide a fulsome exchange offering that caters to all types of traders.
Binance Introduced Zero-Fee Spot Trading in July 2022, Significantly Increasing its Trade Volume
Deribit’s move to introduce zero-fee spot trading for Bitcoin and Ethereum follows a similar move made by Binance in July 2022 to introduce zero-free trading for thirteen of its spot pairs: BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, BTC/USDP and BTC/USDT.
Binance’s spot trading volume rose significantly, with the team at Kaiko estimating that the move helped the exchange increase its market share by 20% compared to its competitors. Bitcoin trading also comprised 66% of Binance’s total spot market trading.
However, Binance ended the zero-fee trading on March 22, leading to a drop in its spot trading market share.
Therefore, a loose conclusion can be made that Deribit’s introduction of zero-fee spot trading of Bitcoin and Ethereum aims to attract more traders to its platform and increase its trade volume in a manner similar to Binance’s.
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