How to buy dYdX (DYDX) without Commissions: Step by Step

If you want to buy dYdX in an easy, fast and secure way, you’ve come to the right place. We will go directly to the information you need to know so that in a few minutes you can own this cryptocurrency. Omitting all the information that many times is given but is not necessary and important, and makes it a pain to follow a tutorial. Here, you can see the step by step, even with a summary for those who are even more in a hurry and want to buy it before it continues to rise in price.

Where to Buy dYdX

To buy dYdX there are not many platforms, and it is currently not listed on any major exchange such as Binance. Even so, you don’t need to know how to use a wallet which can be complicated for a new user who has never used one, as gate.io does have this cryptocurrency so you can buy it, sell it or withdraw it from their platform once you have bought it. So we will use this platform for this example.

Therefore, we are going to show you how you can buy dYdX with gate.io, as we consider it the most comfortable and easy way, and the way we do it . Especially for new users with little experience using DEFI. If you are an advanced user, you can also buy it in decentralized exchanges with your own wallet, with the advantages and risks that this also has and are important to take into account.

In case you can’t watch the video or are having trouble with it, we’re going to go through the step-by-step in full detail just below so you won’t get lost at any point.

Detailed Step by Step

dYdX is not found in many other exchanges yet. Therefore, we must use these two platforms. Since it is the best option to buy this cryptocurrency, while saving on commissions.

The first step is to make a deposit in our gate.io account. To get funds in gate.io, the best and cheapest option is to send them from another exchange such as Binance, as the platform has higher commissions for depositing funds by card or transfer. It is possible that in the future this will change, and it will be even the same or very similar to deposit directly in gate.io with your card. So don’t rule out this option either. Which you can find at Buy Crypto. So it is up to you to decide which option is best for you.

In this case, for the example we will use binance, and we will send USDT (Tether), as it is the cryptocurrency used to buy dYdX. If you deposit directly in gate.io, we recommend you to buy USDT, as it is the cryptocurrency that allows you to buy any other cryptocurrency within gate.io.

In our case, we already have USDT in our binance balance, but you can find a guide in our blog. With usdt, we will go to wallet, fiat and spot and click withdraw on USDT.

Now. the next step is to go to gate.io, and go to deposit. Here, we will have to click on tron/TRC-20 network, as it has the lowest commissions and only costs a dollar or less commission. We copy the address and go back to binance to paste it.

Once in binance, we must indicate the address, the same network, tron (trc-20) and the amount to withdraw the USDT. We confirm with our email and mobile, and that’s it. Remember that you must indicate the trc-20 network to avoid problems when sending your funds.

Now, you just have to wait for the USDT to arrive in your Gate.io balance. It usually takes a few minutes until they are available and ready to use. Once they arrive, go to wallet and spot account, search for USDT and click on trade.

You will see the panel to buy and sell cryptocurrencies. Here, search for DYDX, and you will see the dYdX/usdt pair appear.

We will go down and indicate the amount we want to buy of dYdX. Here, if you want to use all your usdt, just click on the number above and the total will be displayed. At the top of Price you will see the current price of the cryptocurrency. We recommend you to indicate the market option, so that when you click on the button, the cryptocurrency will be bought directly at the current market price. And thus avoid placing a lower price and that the order is not executed. So mark to market for ease of use.

Once you have indicated the amount you want to buy, it only remains to click on the buy button and confirm the purchase with the message that we will see. And we would already have it.

So quick and easy, if you go to your balance you can see the amount of dYdX you have bought thanks to these steps .

You have been able to see that in a few minutes, you can buy this cryptocurrency, and that it is not at all complicated once you follow these steps.

To sell your cryptocurrency, the process is the same. Just go back to the previous panel that we found, but this time we will go to the sell part, which stands out for being red. Just do the same steps indicating the amount you want to sell, and click on the magic Sell button. And you will have USDT again, to do with them whatever you want. Either wait for a better opportunity to buy back this cryptocurrency, invest in others or withdraw it to another platform or wallet.

Price dYdX (DYDX)

what is DYDX?

The dYdX protocol token, dYdX DYDX, is now available. Initial distribution will take place over the next 28 days. dYdX DYDX will be transferable at approximately 15:00 UTC on September 8, 2021.

The token has been deployed on Ethereum at 0x92D6C1e31e14520e676a687F0a93788B716BEff5. Along with the launch of dYdX DYDX, we are also launching:

A new governance product available at dydx.community

Retroactive mining rewards for former users of dYdX protocols

Liquidity mining rewards for traders and liquidity providers on dYdX Layer 2 Perpetuals

A liquidity pool in which USDC liquidity providers can earn rewards for providing liquidity.

A security betting pool in which dYdX DYdX bettors can earn rewards for securing the system

Discounts on trading commissions based on dYdX DYDX holdings

Community and growth

dYdX is the market leader in the development of open and trusted protocols for advanced crypto-financial products. Over the past three years, dYdX has supported over $11 billion in perpetual, margin and spot trading volume with over 64,000 unique traders, and originated over $250 billion in loans and flash transactions from dYdX’s liquidity pools.

In February 2021, dYdX and StarkWare launched a Layer 2 protocol for cross-margined perpetuals, based on Starkware’s StarkEx scalability engine and dYdX’s Perpetuals smart contracts, enabling significant improvements in non-custody trading at scale. Traders can trade without gas costs and, in turn, with lower trading commissions and reduced minimum trade sizes.

The launch of the dYdX Layer 2 protocol came with a new focus on global growth, outside of the United States. Since its launch, the Layer 2 protocol has successfully adapted to the market for non-custodied advanced financial services products:

Over $3.5 billion in volume from more than 18,000 unique addresses (per depository)

Launched 22 markets, from sectors such as DeFi, emerging Layer 1 blockchains and more

With the launch of the dYdX Foundation, the dYdX Layer 2 protocol is now well positioned for community-driven growth and development towards the goal of becoming one of the largest community-controlled cryptoasset exchanges.

Token Introduction

With an industry-leading product and a strong track record of organic growth, the dYdX Layer 2 protocol is ready for the next phase of its evolution: handing control over to the community through the launch of dYdX DYDX.

dYdX DYDX is a governance token that enables the dYdX protocol community to actually control and govern the dYdX Layer 2 protocol. By enabling shared control, dYdX DYDX aligns incentives between operators, liquidity providers and Layer 2 protocol partners. dYdX DYDX enables a robust ecosystem around governance and rewards. By enabling shared control, dYdX DYDX aligns incentives between operators, liquidity providers and Layer 2 protocol partners. dYdX DYDX enables a robust ecosystem around governance, rewards and betting, each designed to drive future growth and decentralization of the Layer 2 dYdX protocol. In conjunction with dYdX DYdX is launching two betting pools designed to promote liquidity and security in the dYdX Layer 2 protocol. Rewards programs for trading and providing liquidity in the dYdX Layer 2 protocol, and for prior use of all dYdX protocols will help drive growth and adoption of the dYdX Layer 2 protocol.