Is Deribit legit?

I've been hearing a lot about Deribit lately, but I'm still a bit hesitant to dive in. Can you tell me, is Deribit a legitimate platform for trading cryptocurrencies? I've seen some positive reviews, but I also want to be cautious and make sure I'm not putting my money into a scam. What kind of security measures does Deribit have in place to protect its users' funds? Are there any red flags I should be aware of before signing up? And finally, how does Deribit compare to other popular cryptocurrency exchanges in terms of fees, trading options, and overall reputation?