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What is dYdX?

dYdX (DYDX) is a layer-2 decentralised exchange that supports perpetual, margin trading, spot trading, lending, as well as borrowing. DYDX is a governance token that allows the dYdX community to truly govern the dYdX Layer 2 Protocol.

  • By enabling shared control of the protocol, DYDX allows traders, liquidity providers, and partners of dYdX to work collectively towards an enhanced Protocol.
  • The dYdX platform runs on smart contracts via the Ethereum blockchain which allows users to trade without any intermediaries.
  • The native utility token enables users to have governance on network proposals, Protocol incentivisation, staking and fee discounts which creates a robust ecosystem designed to drive future growth and decentralisation of dYdX, resulting in a better user experience.

Powered by the Ethereum blockchain, the team are building an open platform for advanced cryptofinancial products in hopes to create a next generation exchange, allowing users to truly own their trades and eventually the exchange itself.

How do I swap dYdX?

Enter amount to swap
Select the quantity of dYdX you would like to swap.
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Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about dYdX

Why Should I Trade DYDX with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell dYdX no matter what your trading experience is. Unlike other international and Australian dYdX exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy dYdX with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade dYdX how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your dYdX?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your dYdX for free.

Cold Storage

If you are holding dYdX as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy dYdX. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for dYdX. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
dYdX has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As dYdX is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual dYdX exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in dYdX & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying dYdX safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your dYdX portfolio here.
Yes! With CoinSpot you can convert your dYdX to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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