dYdX is a decentralised exchange for trading cryptocurrency derivatives. It has the advanced financial tools of a centralised exchange but enables its users to decide the project’s future through its governance token—DYDX. Keep reading to find out how you can purchase DYDX.
If you’re looking for a simple way to buy dYdX, all you need to do is sign up with a crypto exchange. You can access it online with a computer, smartphone, or tablet to quickly buy and sell dYdX and a range of other cryptocurrencies. The best platforms are listed below as well as a quick step-by-step guide on purchasing dYdX.
To start with, find the broker or crypto exchange that’s right for you. This may be based on the fees it charges, how easy the platform is to navigate, or whether it has any special features such as copy trading. You can find a shortlist of the top platforms later in this guide, but if you’re raring to go, simply sign up with one of our top choices below.
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eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
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Cryptoasset investing is unregulated in some EU countries. No consumer protection. Your capital is at risk.
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Supports Multiple Altcoins
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
Global new first-tier exchange
Supervision and audit from third-party institutions
Operating through multiple platform terminals
BKEX is a centralized cryptocurrency exchange located in British Virgin Islands. There are 254 coins and 415 trading pairs on the exchange.
Once you’ve found a platform, you will need to provide an email address and password to create an account. The verification process may require additional documentation such as a photo ID if the platform is KYC-compliant. Then head to the deposit page and choose one of the supported payment methods to fund your account.
With a funded account, you can purchase DYDX. It’s possible you may have to purchase BTC or USDT first if DYDX isn’t available in a trading pair with your local currency. To make your purchase, enter how much you want in a buy order. A market order executes immediately, while a limit order lets you specify a future price to buy at.
There are many crypto brokers and exchanges out there but not all of them offer DYDX. Some of them may even be unsecure or unscrupulous, which is why it is important to select a platform that is reputable and regulated. To make things easier, here are some of the best and safest platforms for purchasing DYDX.
It is imperative that investors are well-informed about a project before committing any of their own money to it. Here are some factors about dYdX that you may want to consider before making a purchase.
Strong Backing. As well as a strong community of users, dYdX received financial backing from some of the biggest names in the crypto industry, including Andreessen Horowitz, Paradigm, Polychain, and Coibase CEO Brian Armstrong.
Decentralisation. Although dYdX has the tools and user experience typical of a centralised exchange, the DYDX token provides governance rights, enabling holders to decide on the parameters and future of the protocol.
Incentives and Rewards. dYdX aims to drive future growth, with traders on the platform being rewarded with DYDX tokens. What’s more, DYDX holders receive trading fee discounts and can stake their tokens for further rewards. This could drive demand for DYDX, making it more valuable as the project develops.