Delta Exchange - Anyone use it?

[internetional]

I suggest you read the reviews
- https://www.trustpilot.com/review/www.delta.exchange
- https://play.google.com/store/apps/details?id=exchange.delta&showAllReviews=true

Why do I see only one review in the Play Market? More than 500K downloads, and only one review - this is weird.

I found this exchange a couple of months ago. I see one big advantage here: minimum size of a BTC option is only 0.001 BTC. (On Deribit it is 0.1 BTC, on OKX and Bybit it is 0.01 BTC.)

The spreads are narrow, trading volumes are enough for traders who operate small positions.

But there are two disadvantages.
1. USDT is the only asset allowed to use for options trading. I consider this stablecoin too risky.
2. Withdrawals are processed only once a day: between 12 PM UTC and 3 PM UTC. Moreover, in their support chat https://t.me/deltaexchat,  I see that every day there are one or two posts about withdrawal delays for more than 24 hours.

Anyway, I decided to give it a try. Yesterday I requested my first withdrawal. Let's check whether I receive my funds today or not.

[internetional]

So, I’ve been using this exchange for a year now, and overall everything is fine. Liquidity is good, there are real traders, and limit orders get filled better than on Bybit.

I only have two complaints:

1. It’s a pity that the exchange removed all options with maturities longer than two weeks. Short-term options aren’t as convenient for hedging. This already feels more like plain gambling. Although, of course, it’s still far from power.trade with its ten-minute options.
2. Cryptocurrency withdrawals take 24-48 hours. It has never been less than 24 hours. Not once in a whole year. So don’t expect to ever get your crypto faster than that. And it’s strange. I don’t know of any other exchange that takes this long to process withdrawals.

[Davidvictorson]

~snip~

I haven't used this exchange before. On Reddit, it seems to have poor user experience and reviews as well. Not saying that they are bad or something, just a heads up.
And no, I don't think is is related to Defi Deltaexchange. You may not need this advice but for others who may not know, please stick with popular crypto exchanges. And secondly, never invest money that you cannot afford to loose.

[Frankolala]

Looks like Delta Exchange is mainly used in India because they just trade directly with India Rubees without conversion. I haven't heard of this exchange and this is the first time. I prefer to stick with reputable exchanges that is big and popular in order to avoid any problem when trading and withdrawals because they will make sure that their system is working perfectly.

[Potato Chips]

2. Cryptocurrency withdrawals take 24-48 hours. It has never been less than 24 hours. Not once in a whole year. So don’t expect to ever get your crypto faster than that. And it’s strange. I don’t know of any other exchange that takes this long to process withdrawals.

That sucks, and a deal breaker for me. I too don't know any other exchange who takes that long to process withdrawals, even in my early days, I don't know any. These days, most platforms strives to be fast.

But I'm guessing they will probably improve their withdrawal system as they grow their userbase and volume, at least I hope so. Do you think they have grown significantly as someone who have used it for a year?

[2Pizza410000BTC]

Just wondering if anyone has any experience with delta.exchange? The volume seems low but not too low. KYC is required but just a verified phone number.

Is this exchange related to that failed Defi Deltaexchange from 2018?

Please reply if you used or are using this exchange.

I have no experience with dalta.exchange. I have heard about delta.exchange before but I have not actually entered this website or exchange platform and have not done any trading. I have only traded on popular exchanges like Binance, Kucoin, Bybit, Bitget etc. I have gained experience with all these exchanges and if any question is asked here it may be possible to answer it. Moreover, the exchange you mentioned here is not very popular and because of not being popular, the volume may be very low.

[Bitcoin_Arena]

Why do I see only one review in the Play Market? More than 500K downloads, and only one review - this is weird.

I think it depends on your location. On my play Store, I see a figure of 5.81K reviews

So, I’ve been using this exchange for a year now, and overall everything is fine. Liquidity is good, there are real traders, and limit orders get filled better than on Bybit.

I only have two complaints:

1. It’s a pity that the exchange removed all options with maturities longer than two weeks. Short-term options aren’t as convenient for hedging. This already feels more like plain gambling. Although, of course, it’s still far from power.trade with its ten-minute options.
2. Cryptocurrency withdrawals take 24-48 hours. It has never been less than 24 hours. Not once in a whole year. So don’t expect to ever get your crypto faster than that. And it’s strange. I don’t know of any other exchange that takes this long to process withdrawals.

Indeed, when you look at most reviews, point 2 seems to come up quite often. I don't think I would be patient enough to wait for 48 hours to have my withdrawal processed. I remember Bitmex used to have a once in a day withdraw arrangement, but they also reduced that to 3 times a day. Today, most of the withdrawals are on real time.

[Stepstowealth]

Please reply if you used or are using this exchange.

It is my first time hearing of such a name of an exchange but I think that we should only use exchanges that are popular and common around us instead of exchanges that are new in the market or were most of its users are from another country different. The benefit of using exchanges that are common and popular around us is that you can easily get solution in case you have a challenge or you can be referred to somewhere proper way you can get the right information concerning the challenges that you have. If you are using a new exchange, you are risking a lot.

[harapan]

Just wondering if anyone has any experience with delta.exchange? The volume seems low but not too low. KYC is required but just a verified phone number.

Is this exchange related to that failed Defi Deltaexchange from 2018?
 

I haven't heard of it before talk more of using it but a little suggestions though, don't be too hasten to use exchanges that ain't prominent like the ones that are widespread that's a way you can detect it as being verified or not. Speaking of volume it should be sign of withdrawal rather than ending up risking a while lot to the exchange.

[Odogwu-Blockchain]

Just wondering if anyone has any experience with delta.exchange? The volume seems low but not too low. KYC is required but just a verified phone number.

Is this exchange related to that failed Defi Deltaexchange from 2018?

Please reply if you used or are using this exchange.

What happened to the exchange and why are you looking out for more information on the exchange.

If the exchange is operating with phone number verification before trading and withdrawal, then they are still new and still finding more way to implement other security measure and know customer identification system. Phone number isn't enough.

Wondering the kind of low volume trades that this exchange going to integrate to  fake the whole thing.

[Bitcoin_Arena]

What happened to the exchange and why are you looking out for more information on the exchange.

If the exchange is operating with phone number verification before trading and withdrawal, then they are still new and still finding more way to implement other security measure and know customer identification system. Phone number isn't enough.

Wondering the kind of low volume trades that this exchange going to integrate to  fake the whole thing.

Look at the post you quoted 
it's from over 3 years ago (2022) and If you read through the thread you will realize that he gave a reason as to why he was looking into that particular exchange

Either way. The reason why I want to use it is mostly due to the options. Not for the BTCUSD perp futures which I can trade anywhere. There aren’t too many exchanges out there with BTC options and they seem pretty liquid.

The thread got recently bumped because a certain user was trying to share his experience about the said exchange but as for the OP. I think he got the answers he was seeking back then

[Bitcoin_Arena]

Based on the data at hand, the founders and investors behind Delta Exchange—Balani, Gupta, and venture firms like Coinbase Ventures—have no ties whatsoever to the 2018 Deltaexchange project. There’s no overlap in names, profiles, or funding trails. Delta Exchange stands as project, zeroed in on centralized trading, whereas Deltaexchange 2018 was DeFi DEX.

DeFI DEX?

The difference is in the domain names, though. The first “delta exchange” that I knew about was running on a smart contract and was one of the first places we would trade shitcoins back in the day. It was known as Etherdelta. They had their issues, got “hacked”, got charged by the SEC, got a fork known as folkdelta and went on a downtrend.

The other I uncovered in this post.