Please note: like most trading venues, we display the current mid-market rates in our price charts. When you trade, you get the current bid or ask price depending on whether you are buying or selling. There is always a slight difference between the mid-market and the current bid or ask prices. This is a natural result of how Exchange order books work.
Digital currencies are very high risk. Do not invest money you can’t afford to lose. Please consider the suitability of crypto for your individual position before trading.
What is dYdX (DYDX) and how does it work?
A decentralized exchange (DEX), dYdX delivers services related to trading, such as access to crypto spot pairs and perpetual futures) as well as lending/borrowing services. The protocol leverages StarkWare’s layer-2 scalability engine (referred to as “dYdX layer-2”) to eliminate the need for traditional, centralized intermediaries while maintaining high degrees of transparency, security and speed.
DYDX is the protocol’s native currency. It primarily serves as a means of administering governance; it gives holders the rights to vote on future changes to the protocol. DYDX also helps secure the network via validator staking and provides holders discounted trading fees relative to the current value of their tokens.
Per its whitepaper, the protocol combines off-chain order books with on-chain settlement to support the creation of entirely new asset classes whose value is derived from existing blockchain-based assets.
The dYdX platform is both open source and smart contract enabled which allows users to, in permission-less fashion, lend, borrow, and trade digital assets. The protocol’s governance, likewise, is fully decentralized and managed via the dYdX foundation.
As of early April 2022, dYdX ranked among the decentralized finance (DeFi) realm’s top derivatives venues with a total value locked (TVL) of $1 billion.
How to buy dYdX (DYDX)
With Uphold, you can buy digital currencies in just 11 clicks - even if you don’t have an account yet.
Nothing could be easier.
Here’s how fast it is to get started:
1. Go to Uphold.com and click sign up.
2. Enter your email address and personal details.
3. Click the link we send you and create a password
… and you’re off to the races!
Just start trading.
Get more coin for your coin
0% withdrawal fees