How to Buy dydX (DYDX) in Australia

1. Choose a crypto exchange

First things first, you need an exchange that both has dydX, and is trustworthy!

You can find our top 3 exchanges for buying dydX here, alternatively you can also check our comparison of the best Australian crypto exchanges if you’re generally interested in seeing which exchanges work for Australians.

2. Sign up with the crypto exchange

Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.

3. Fund your account

The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.

4. Buy dydX

And of course, the final step is to find dydX on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.

Where to Buy dydX (DYDX)

ExchangeRatingAvailable CryptocurrenciesFeesVisit Site
Swyftx Logo5/5350+0.6%VISIT SITE
Binance Logo4.5/5300+0.1%VISIT SITE
Digital Surge Logo4/5200+VariesVISIT SITE

How to Sell dydX

  1. Sign into the exchange
  2. Find where you stored your dydX, either on a hardware wallet or on the exchange.
  3. Transfer your dydX to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
  4. Sell dydX.
Businessman looking at crypto trend

Considerations when looking to buy dydX.

DYDX (dYdX), is the governance token of layer 2 protocol for the eponymous decentralized cryptocurrency exchange. It facilitates layer 2 operation and allows liquidity providers, traders, and partners to participate in the future of the protocol as a community.

Token holders have the right to propose changes to the dYdX layer 2 and can also profit from token staking or trading fees discounts.

Starkwire's StarkEx scaling engine allows layer 2 to trade cross-marginal perpetuals on the platform. The scaling solution allows for dYdX increase transaction speed, eliminate trading costs, lower trading fees, and reduce minimum trade sizes.

dYdX, an open-source platform that supports smart contracts, allows users to borrow, lend and trade crypto assets. Although spot trading is supported by dYdX, the main focus of the platform lies on derivatives trading and margin trading.

The exchange was launched in 2019 with more than $10 million in seed capitalist funding. DXDY token The initial coin offering (ICO), for the DXDY token, was September 9, 2021.

dYdX, a cryptocurrency exchange, combines advanced financial tools and decentralization. Margin trading is a financial product that allows investors to increase their exposure through leverage to digital assets. dYdX's isolation margin allows users to allocate funds to their account in order for them to trade. Cross-margin uses all assets a trader has on the platform. Perpetuals, a type futures contract without a fixed selling date, can also be traded on dYdX. The exchange offers maximum 25x leverage on synthetic assets without an expiry date.

When funds are deposited into an account, users of dYdX begin to earn interest. Their assets are added to the global lending pool for each cryptocurrency. Lenders can feel secure with the platform as it ensures that borrowers have sufficient collateral at all times. Users can borrow on dYdX to instantly purchase any asset on the platform, using funds they have as collateral. Unlike automated market makers like Uniswap, dYdX has an order book architecture.

dYdX Layer 2 increases the network's scalability by using a zero-knowledge rollup called zkSTARKS. While validating transactions on-chain, the technology generates proofs. These proofs are sent back to blockchain where they are checked by smart contracts. zkSTARKS allows you to remove costly computations from your mainnet without any sacrifices in decentralization.

Together with liquidity provider rewards and trading, dYdX offers retroactive mining benefits. This allows the platform to show appreciation for historical users and encourage them to trade on layer 2. Holders can place their tokens in dYdX’s liquidity and safety pools. The safety pool offers the platform a safety net in the event of a shortfall, while the liquidity pool attracts high-quality market makers.