dydx logo feature image for dydx review

dYdX DEX Review with Referral Code

dYdX Review Summary

  • dYdX has, by far, the most trading volume among all decentralized perpetual trading exchanges.
  • dYdX is used with a Web3 wallet and is a non-KYC exchange. Still, there are some restricted countries.
  • There are 33 cryptocurrencies available to trade with up to 20x leverage.
  • dYdX has the lowest crypto perpetual trading fees for a DEX, starting at 0.02/0.05%, maker/taker.

What is the dYdX DEX?

Introduction: dYdX is a decentralized cryptocurrency exchange that allows users to trade leverage with perpetual contracts. Utilizing smart contracts on the Ethereum blockchain, dYdX provides a decentralized and secure environment for traders. This review will explore its features, usability, security, trading options, and overall user experience.

User Interface and Design (4.4/5): The platform features a clean and straightforward interface, making it relatively easy for beginners and experienced traders to navigate. The intuitive design allows users to access essential functions such as trading pairs, order types, account balances, and more without unnecessary complexity.Screenshot of the dYdX Trading Interface

Screenshot of the dYdX Trading Interface.

Trading Features (4.5/5): dYdX offers margin trading and perpetual cryptocurrency contracts. The platform supports various order types, including market, limit, and stop-limit orders, giving traders the flexibility they need for their trading strategies. The availability of leverage options adds to the trading versatility.

Screenshot of order types, including market, limit, trailing stop, take profit limit, and stop-limit orders,

Screenshot of order types, including market, limit, trailing stop, take profit limit, and stop-limit orders.

Order Execution and Speed (4.3/5): Order execution on dYdX is efficient, and users can experience quick order placement and confirmations. The platform’s integration with the Ethereum blockchain ensures transactions are transparent and secure, though Ethereum’s congestion may sometimes affect transaction speed.

Security (4.6/5): Being a decentralized platform, dYdX offers a high level of protection by design. Users retain control of their private keys, reducing the risk associated with centralized exchanges. However, users must exercise caution and manage their private keys securely to prevent unauthorized access.

Customer Support (4.0/5): dYdX provides support through a knowledge base, FAQs, and a ticket system for inquiries. While the available resources are informative, live chat or phone support options could enhance the user experience by providing more immediate assistance.

Community and Education (4.2/5): dYdX Academy fosters community through social media channels and educational content. Regular updates, blog posts, and educational materials help users stay informed about the platform’s updates and the cryptocurrency market in general.

dydx academy - Discover the world of decentralized finance with dYdX Academy, your one-stop destination for all things DeFi and Web3.

dYdX academy – Discover the world of decentralized finance with dYdX Academy, your one-stop destination for all things DeFi and Web3.

Overall Rating (4.4/5): dYdX is a promising decentralized cryptocurrency trading platform offering various features and trading options. The focus on security and transparency aligns with the principles of decentralization. With continuous improvements to user support and potential enhancements in the user interface, dYdX has the potential to become a preferred choice for traders seeking decentralized trading solutions.

Please note that cryptocurrency trading involves risks, and users should conduct thorough research and exercise caution while trading on any platform.

What is dYdX DEX?

dYdX is a decentralized exchange (DEX) that supports perpetual trading. dYdX runs on smart contracts on the Ethereum blockchain.

This allows users to trade without any intermediaries and avoid counterparty risk.

When was dYdX launched?

dYdX was established in 2017 by California-based entrepreneur and ex-Coinbase engineer Antoni Juliano.

Where is dYdX located?

dYdX is based in San Francisco, California.

Can I trade on dYdX without KYC?

dYdX is a non-KYC exchange. Here, users can maintain their privacy without providing personal information, and it’s available worldwide with some restrictions.

Restricted countries are Iran, Cuba, North Korea, Syria, Myanmar(Burma), Crimea, Luhansk, Donetsk, or any other region or country sanctioned by the USA.

Does dYdX allow US and Canadian traders?

Canada and the US are blocked countries.

Is there a dYdX Io Sign-up bonus or promo code?

dYdX has no signup bonus available. If you sign up with us, you will get -a 5% discount promo on trading fees. Also, you can get lower fees by holding the dYdX coin, as seen in the trading fees section.

Can I go short on dYdX?

Yes, you can trade in both directions on dYdX.

What leverage can I use on dYdX DEX?

You can use leverage up to 20x on dYdX.

dYdX Trading Fees

➤dYdX offers free trading for everyone, up to $100,000 every month.

A percentage symbol for the lowest crypto futures trading fees

Other costs may apply, including perpetual funding, depositing and withdrawing funds, and potential liquidation fees. 

dYdX NFT Hedgies Discount

dYdX has its own NFT collection, and by holding a Hedgie, you will get a fee discount tier up by one. Keeping multiple will have no additional effect.

dYdX Trading Fee Structure

dYdX Tokenomics

➤dYdX’s business model is to earn consistent revenue from maker and taker trading fees.

There are specific incitements to use the platform:

  • Anyone can use the DEX with no KYC. (There are some restricted and blocked countries).
  • There are crypto trading competitions.
  • 20.2% (201,883,560 $DYDX) of the token supply is allocated to users who trade on the dYdX Layer 2 Protocol based on fees paid.

There are also incitements to buy and hold the dydX token

  • Get a trading fee discount by having the dYdX token

Where can I buy the dYdX token?

You can trade the dYdX token on Binance, Bitget, and Gate.io, among other centralized crypto exchanges.

How to add dYdX to a Web 3 wallet like MetaMask?

To add dYdX, you’ll need to import the contract address (0x92d6c1e31e14520e676a687f0a93788b716beff5) manually.

Click “import tokens” in the bottom of the “Assets” tab.

What markets can I trade on dYdX?

Open Market place

The markets available to trade on dYdX are:

ETH, BTC, SOL, MATIC, ATOM, ICP, ADA, LINK, AVAX, DOGE, FIL, SUSHI, CRV, LTC, XMR, YFI, AAVE, UNI, XTZ, NEAR,  

What collateral does dYdX accept?

All perpetual contracts on dYdX are settled in USDC.

Best Offers

*Terms and conditions apply. Read more on Offers page.

Hot Articles