Is DYDX Crypto a Good Investment?

dYdX is one of the largest and most popular decentralized exchanges and DeFi apps in the market. As of June 2022, it enjoys a TVL of almost $1 billion and ranks 13 in terms of TVL on the Ethereum network. As the demand for DeFi projects and platforms grows in the crypto world, dYdX could see rising adoption among crypto traders who want to partake of all benefits that decentralization and blockchain technology offer, in terms of trading costs and efficiency. In such an event, the DYDX price could soar higher as the platform attracts more users to sign up for its services. The price of DYDX crypto can also pick up as the 24-hour trading volume on the dYdX exchange rises. As more investors sign up and use the exchange for trading digital assets, the uptick in transactions can make its native digital token an even more valuable investment.DYDX price statistics could also experience considerable improvement when the dYdX DEX adds more offerings and services to its exchange. Its evolution into a DAO ushering in true decentralization could also mark a significant step in its evolution and make its native token a worthwhile asset to include in your crypto portfolio.

How Much Was the DYDX Airdrop?

50% of the 1 billion DYDX tokens that were minted at the time of its launch were set aside to be airdropped to dYdX users. The event went on to garner significant attention in the crypto community, catapulting the popularity of the dYdX exchange during the period. According to news reports, the DEX had airdropped DYDX tokens worth almost $1 billion by the first week of September. This takes into account the DYDX price at the time, which stood at over $11 by the time 7.5% of the max supply of tokens was airdropped to users. All dYdX users who had been active on the DEX prior to 26 July 2021 were eligible to receive airdrops of the DYDX crypto. In the initial launch of the token, 7.5% of the supply was airdropped to over 64,000 users of the dYdX market who had performed at least one trade on the exchange.

How to Claim dYdX Rewards

The DYDX token serves as the governance token of the dYdX exchange. 25% of its total supply has been earmarked to be distributed as rewards to users of the exchange. You can claim DYDX rewards in the following ways: 1. Being an Active Trader on dYdX and Holding the TokenThe Layer 2 dYdX is faster and charges lower transaction fees, tackling the high gas fees on Ethereum. Traders using the Layer 2 protocol are eligible to receive rewards for their trading activities based on the platform’s trading volume and level of activity. DYDX holders receive rewards paid out at regular intervals. 2. Staking DYDX You can earn DYDX by lending liquidity to the dYdX exchange. You also have the option of staking your tokens to the safety pool to improve the security of the exchange and earn rewards every 14 days. 3. Lend Liquidity on KuCoin You can also earn DYDX easily via KuCoin’s Crypto Lending feature. Simply head to the page and look for the DYDX crypto. Enter the number of tokens you wish to lend and select the duration (7 days, 14 days or 28 days) to view the daily interest rate and get an estimate on profits.

dYdX vs. Uniswap - Key Differences

Uniswap and dYdX are among the leading DEXs based on Ethereum but are quite different. Here are some of the main differences between dYdX and Uniswap: TVL Uniswap, one of the oldest and most established decentralized exchanges on Ethereum, has a far higher TVL than dYdX. As of June 2022, the TVL of Uniswap is just under $5.75 billion, making it the fifth largest DeFi protocol by total value locked on the Ethereum blockchain. On the other hand, dYdX ranks 13th with a TVL of under $1 billion and experiences lower trading volume. Number of Integrations Uniswap has a far higher number of integrations than dYdX as it enjoys a far wider reach and size. This makes the Uniswap platform far more versatile for experienced crypto traders. Number of Services dYdX offers more services to its users than Uniswap. In addition to functioning as an AMM and DEX like Uniswap and supporting DeFi projects, dYdX enables users to perform margin trading on cryptos as well as lending and borrowing. However, you cannot perform yield farming on the dYdX platform.

How to Buy dYdX (DYDX)

Price of dYdX (24h)$3.19

1.79%

Real-Time DYDX Rate Converter

Interested in buying dYdX (DYDX) or exploring other cryptocurrencies? This is the right place for you! KuCoin offers safe and easy ways to let you buy dYdX (DYDX) instantly wherever you are! Check out all the ways you can buy DYDX on KuCoin.

Buy dYdX (DYDX) on KuCoin in Four Simple Steps

Create Your Free KuCoin Account

Sign up on KuCoin with your email address/mobile phone number and country of residence, and create a strong password to secure your account.

Secure Your Account

Ensure stronger protection of your account by setting Google 2FA code, anti-phishing code, and trading password.

Verify Your Account

Verify your identity by entering your personal information and uploading a valid Photo ID.

Add a Payment Method

Add a credit/debit card or bank account after verifying your KuCoin account.

Buy dYdX (DYDX)

Use a variety of payment options to buy dYdX on KuCoin. We'll show you how.

Choose How You Want to Buy dYdX on KuCoin

Buying cryptocurrencies is easy and intuitive on KuCoin. Let's explore the different ways of buying dYdX (DYDX).

Buy dYdX (DYDX) with crypto on the KuCoin Spot Market

With support for 700+ digital assets, the KuCoin spot market is the most popular place to buy dYdX (DYDX). Here's how to buy:

1. Buy stablecoins such as USDT on KuCoin using the Fast Trade service, P2P, or through third-party sellers. Alternatively, transfer your current crypto holdings from another wallet or trading platform to KuCoin. Make sure your blockchain network is correct, since depositing crypto to the wrong address may result in loss of assets.

2. Transfer your crypto to a KuCoin Trading Account. Find your desired dYdX (DYDX) trading pairs in the KuCoin spot market. Place an order to exchange your existing crypto for dYdX (DYDX).

Tip: KuCoin offers a variety of order types to buy dYdX (DYDX) in the spot market, such as market orders for instant purchases and limit orders for buying crypto at a specified price. For more information about order types on KuCoin, click here.

3. As soon as your order is successfully executed, you will be able to see your available dYdX (DYDX) in your Trading Account.

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How to Store dYdX (DYDX)

The best way to store dYdX (DYDX) varies based on your needs and preferences. Review the pros and cons to find the best method of storing dYdX (DYDX).

Store dYdX in Your KuCoin Account

Holding your crypto in your KuCoin account provides quick access to trading products, such as spot and futures trading, staking, lending, and more. KuCoin serves as the custodian of your crypto assets to help you avoid the hassle of securing your private keys on your own. Make sure to set up a strong password and upgrade your security settings to prevent malicious actors from accessing your funds.

Hold Your dYdX in Non-Custodial Wallets

"Not your keys, not your coins" is a widely recognized rule in the crypto community. If security is your top concern, you can withdraw your dYdX (DYDX) to a non-custodial wallet. Storing dYdX (DYDX) in a non-custodial or self-custodial wallet grants you complete control over your private keys. You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you wish to trade your dYdX (DYDX) frequently or put your assets to work. Be sure to store your private keys in a secure location as losing them may result in the permanent loss of your dYdX (DYDX).

What Can You Do with dYdX (DYDX) on KuCoin?

Hold

Store your dYdX (DYDX) in your KuCoin account.

Trade

Trade dYdX (DYDX) in the spot and futures markets.

Earn

Earn passive income by staking or lending dYdX (DYDX).

Why Is KuCoin the Best Platform to Buy dYdX (DYDX)?

Safe and Trusted

Our regular Proof of Reserves (PoR) mechanism ensures that customer funds are backed by 1:1 real assets. KuCoin was named one of the Best Crypto Exchanges by Forbes in 2021 and selected by Ascent as the Best Crypto App in 2022.

High Liquidity

Boasting a high liquidity order book for all listed cryptocurrencies, KuCoin delivers a liquid trading experience with tight spreads.

Home of Crypto Gems

KuCoin supports more than 700 cryptocurrencies and is the best place to find the next crypto gem. Buy dYdX and trade it against various digital assets on KuCoin.

Intuitive Interface

Buying dYdX (DYDX) on KuCoin is quick and easy, thanks to our intuitive interface and powerful technology. Obtain DYDX in an instant when you buy on KuCoin.

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FAQ

How can I sell Gala Games (GALAX)?

KuCoin does not currently support selling Gala Games (GALAX), but you can sell your GALAX via other centralized exchanges (CEXs), crypto wallets, or decentralized exchanges (DEXs).

Where can I buy Gala Games (GALAX)?

While KuCoin does not currently support purchasing Gala Games (GALAX), you can buy GALAX via other centralized exchanges (CEXs), crypto wallets, or decentralized exchanges (DEX). Refer to the guides on "How To Buy Gala Games (GALAX)" to learn more.

How do I use a credit card to buy Gala Games (GALAX)?

KuCoin does not currently support purchasing Gala Games (GALAX). However, you can purchase GALAX using a credit card at another centralized or decentralized exchange. Before making purchases on another platform, make sure to review their security, liquidity, and fees. Beware of hidden fees and scams.

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KuCoin does not currently support Gala Games (GALAX). However, you can purchase GALAX via PayPal on other centralized or decentralized exchanges. Before making purchases on another platform, make sure to review their security, liquidity, and fees. Beware of hidden fees and scams.

How much does it cost to buy Gala Games (GALAX)?

The live price of Gala Games (GALAX) is $0.02604, meaning you can buy 38.4 GALAX with $1. Use KuCoin's Gala Games live price chart to find the best time to buy GALAX.

Should I buy Gala Games (GALAX)?

Gala Games currently ranks #-- in market capitalization among all cryptocurrencies. In the past 24 hours, the price of GALAX has decreased by 2.25%. Before trading Gala Games (GALAX), please be sure to perform both fundamental and technical analysis, and evaluate your level of risk tolerance.

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Gala Games (GALAX) has a market capitalization of $463,429,153 and is ranked #-- on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Gala Games (GALAX) price trends and patterns to find the best time to purchase GALAX.

dYdX (DYDX) Price Analysis

Live Price

The live price of DYDX is 3.2 USD, representing an increase of 1% in the past 7 days and 1.79% increase in the past 24 hours.

Historical Trends

The all-time high of DYDX was 27.77 USD on 09-29, 2021, from which the coin is now down -88.45%.
The all-time low of DYDX was 1.05 USD, from which the coin is now up 67.09%.

ATL$ 1.05

ATH$ 27.77

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Disclaimer

Given the nature of the crypto market, the price of dYdX (DYDX) is subject to high market risk and price volatility. We recommend you invest in digital assets only after you understand how they work and their associated risks. Other factors to consider when devising your crypto investment strategy include your experience level, financial situation, investment objectives, and risk tolerance. You could also consult an independent financial advisor before buying cryptocurrencies. The above information is not financial advice, and past performance is not a reliable indicator of how the market will fare in the future. The value of your investments and assets may rise or fall based on market conditions, and there is no guarantee that you will get back the amount you invest or profit from your investments. Your investment decisions are your sole responsibility, and KuCoin is not responsible for any losses you may incur when you buy crypto on its platform. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information is provided to you solely for informational purposes and is not warranted by KuCoin.