dydx is a decentralized cryptocurrency exchange that enables traders to trade perpetual contracts with up to 25 times buying power upon depositing a minimum of $10. Beside perpetual contracts, traders can also take advantage of the margin trading over the platform.
Trading pairs supported
At dydx, crypto traders can trade perpetual contracts of different pairs in terms of USDT. Some of them are ethereum, bitcoin, Avalanche, yearn, solana, polygon, dogecoin and chainlink. Here is a view of the supported pairs;
Transaction cost
Under this,we will consider trading fee as well as deposit and withdrawal fees.
a. Trading fee transaction
Under this category of fee, there is maker and taker fee. Maker fee is for those who create the market while taker fee is for those who accept to enter a buy or sell position the way it has been created by market makers. There are 6 tiers of the fee structure. There is tier I, II,III,IV,V and VIP. For tier I,II and III, the maker fee will be 0.05%, 0.04% and 0.03% while the taker fee will be 0.1%,0.09% and 0.08% respectively provided that the trading volume is less than $1 million for tier I, greater or equals to $1million for tier II and greater than or equals to $5million for tier III. For tier IV,V and VIP,the maker fee will be 0.015%, 0.00% and 0.00% while the taker fee will be 0.075%,0.07% and 0.06% provided that the trading volume is greater than or equals to $10million for tier IV, greater than or equals to $50 million for tier V and greater than or equals to $200 million for VIP. All the traded volume should be a 30 days period.
b. Deposit and withdrawal cost
There is no deposit or withdrawal fees charged on dydx exchange but since it is a decentralized crypto perpetual exchange, in order for a trader to put in or out their fund, they will only be charged a gas fee by the miner on the ethereum network where the dydx is being built.
Language to choose
The major language used is English. Traders can still choose 4 other languages. They are Chinese,Japanese,Korean and Russian.This sounds great for perpetual traders from different parts of the world.
Trading platform
Just like in other crypto perpetual exchanges, dydx also uses tradingview platform to enable traders to know whether the market of a different contract is moving in an upwards or downwards direction.This is indicated as from below;
Security in your trading account
Since dydx is built on Ethereum network, it can be considered to be a secured trading exchange since the trader is the one controlling their private key which they will be using to login into their dydx trading account.
Placing a buy or a sell position
In dydx exchange, there is market price and limit price. For market price, the order will instantly be executed while for limit price, it will be executed when the market reaches the limit order price. Let us give an example of solana coin. If the trader wants to place a buy position for a limit price, they will be required to insert certain quantity of solana while if they want to place a sell position for a limit price, they will do the same by inserting the quantity they want to sell using the limit price. This is indicated as from below;
Timing frame of the chart
On the dydx exchange, there are 5 different time frames being provided to help traders to choose the one that works well for them which will enable them to apply their strategy well. There is 1 minute, 5 minute, 15 minute ,30 minute and 1 day time frame.
Crypto interest earning
On dydx platform, there is staking program for community members. As a trader ,this is a great opportunity because you can convert your earned profit to the dydx token and stake it in order to provide liquidity in its market whereby you can earn interest of up to 14% the whole year. The more your staking amount the more interest to be earned.
Spot market and derivative market
On dydx, there is both margin and derivative market for different cryptocurrencies products. The leverage can go as high as 1:25. On the derivative market, traders can choose to trade different cryptocurrencies. Some of them are Bitcoin, Ethereum, Solana and Dogecoin.
Trading on dydx
Now that you know about dydx, it is time to start trading over there without involvement of a third party. If you have the skills, you can grow your funds without any third party noticing. Join by following the link as from below;
