How & where to buy dYdX (DYDX) online

The decentralised cryptocurrency exchange, dYdX, has a native token, DYDX. In this guide, find out where to buy some and whether or not investing is a good idea.
Updated: May 11, 2023

This page contains the key information you need to know before you invest in dYdX. We explain how to purchase coins with a step-by-step breakdown, and we also explore the pros and cons of the project itself. Read on to get started.

What are the best exchanges to buy dYdX on?

Our analysts have listed some of the best places to get DYDX coin right now in section below. Simply click on one of the links to sign up, or continue scrolling for more helpful information about dYdX.

Min. Deposit
$ 10
Best offer
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Up to $240 bonus!
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Payment Methods:
Bank Transfer, Credit Card, Debit Card, PayPal, Wire Transfer
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77% of retail CFD accounts lose money.

Min. Deposit
Best offer
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Global new first-tier exchange
Supervision and audit from third-party institutions
Operating through multiple platform terminals
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Min. Deposit
Best offer
User Score
Sign Up Bonuses
App Available
Supports Multiple Altcoins
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Full Regulations:

How to buy dYdX online – a step-by-step guide

Step 1. Find an exchange

The easiest and most affordable way to purchase cryptocurrencies is through an exchange. DYDX is a fairly popular altcoin, so it is available from a large number of exchanges. However, different platforms have their own pros and cons based on features and fees, and so not every service is equal.

To help point you in the right direction, we have listed the two best platforms to buy dYdX tokens below:

  • Binance: As it is the most popular exchange in the world, choosing to use Binance is an easy choice for many crypto investors, even if they are just starting out. Get a Binance account >
  • Kraken: Kraken is a platform that our analysts were big fans of. Founded in 2011, the crypto exchange has over 4 million clients and plenty of bonus features. Create a Kraken account >

Step 2. Sign up and fund your account

You can’t get any coins unless you have a validated account with funds in it. So, get this process started by filling out some basic contact details during the sign-up process, and then send over a scan of a form of photo ID if you are asked.

When it comes to adding funds, most exchanges are flexible, accepting crypto deposits from a wallet and some major fiat currencies from a bank transfer – such as GBP, USD and EUR.

Step 3. Purchase

Now your account is funded, you can make your first purchase. Do this by searching for the dYdX’s ticker, DYDX. Once you have found the asset in the interface of your chosen exchange, choose how many coins you want to purchase and check you are happy with the fees and market price. Finally, you can execute the transaction and the DYDX tokens should be added to your account almost instantly.

Step 4. (Optional) Get a suitable wallet

If you want to trade DYDX, skip ahead to the next section. However, if you want to invest for the long term, you might want to keep your coins stored in a cryptocurrency wallet. This is because wallets protect your coins from theft and malicious online activity, and given their low price (some are even free), they are definitely worth considering.

Here are two of the best DYDX wallets we could find:

  • Keep Key: Keep Key is a hardware wallet that allows you to store your coins offline, completely protecting them from online hacking attempts. Get a Keep Key wallet >
  • Coinbase wallet: Coinbase is one of the world’s leading crypto exchanges, garnering significant public attention after its IPO last year. Therefore, it is unsurprising that the platform’s dedicated wallet service is so popular. Sign up with Coinbase wallet >

How to trade DYDX – a step-by-step guide

Step 1. Find a broker

Brokers are the service you should use when trading. That is because they allow you to open and close orders extremely quickly, taking advantage if market volatility. eToro is one of the best options to try first.

Step 2. Deposit money

You can’t trade without funds in your account. Brokers accept fiat currency (GBP, USD, EUR, etc.) via a bank transfer, and some even support PayPal. In addition, a very small number of crypto brokers now offer Bitcoin as a deposit method.

Step 3. Learn how to perform technical analysis

Technical analysis is the process of looking at charts and reading market data in an effort to work out how the market is likely to behave in the future. We have an entire short-term trading course that covers technical analysis in a great amount of detail, so if you need any guidance, be sure to check it out.

Step 4. Decide whether to go long or short

When trading DYDX – or any other cryptocurrency for that matter – you can choose to go long or short. Going long means speculating on an asset increasing in value, whereas going short means you believe the asset’s price will head in the opposite direction. It is important you understand this distinction because it will allow you to generate returns regardless of what direction the market is moving in.

Step 5. Make the trade

Finally, you can make your first trade and get your hands on DYDX. Just make sure that you feel ready before risking actual money, because many platforms offer demo accounts to help you learn the ropes in a safe environment.

Should I invest in dYdX?

If you believe in the business credentials of the dYdX exchange, or if you want the chance to vote on platform governance and enjoy reduced trading fees, getting some DYDX tokens could make sense. Founded in 2017 by a former Coinbase engineer, Antonio Juliano, the dYdX platform is all about providing secure trading services with low gas costs and fees.

The platform has shifted to layer 2 – a scaling solution – to allow traders, liquidity providers and partners to get involved in the platform, and holders of DYDX tokens can vote on key issues related to the development of layer 2. Users are able to make instant deposits and trades, and the platform also uses Ethereum smart contracts to allow the use of leverage.

These days, dYdX is a prominent cryptocurrency project with a trusted team, and many people use the service to lend, borrow and trade crypto assets every day. If these all sound like robust credentials, conduct your own research and see if you still feel the same way.

Still undecided?

Here is our breakdown of the pros and cons of dYdX followed by some key questions to ponder about your potential investment.


  • Crypto margin trading with up to 25X leverage on synthetic assets with no expiry date
  • Discounts on fees for DYDX holders
  • An all-in-one destination for digital asset holders to lend, borrow and trade
  • Low gas costs comparative to many competitors
  • Layer 2 scalability solution for order book architecture


If you still aren’t sure about investing in dYdX, here are 3 important questions.

1. Is now a good time to buy dYdX?

Fundamentally, this comes down to the current market price of DYDX coins. If you have conducted sufficient due diligence on the project and you determine the current value of DYDX is below where is should be, it may be the right time to get some.

However, if you aren’t going to be investing for the long term, and you are going to be trading DYDX, the true value of the coin isn’t as important. Instead, your focus will be on what the market is willing to pay for it at any given time; technical analysis is the tool you will use to generate some predictions.

Be sure to read our latest analysis on DYDX below to help inform any potential investments you make after reading this guide:

The DYDX token took a hit after the decentralized exchange dYdX announced that it is winding down its services for Canadian users. The token had dropped to $2.44 before slightly recovering to trade at $2.50 at press time. The exchange announced that it will be restricting Canadian user accounts…
The dYdX (DYDX/USD) crypto price moved sideways as the developers move close to full decentralization. The token was trading at $2.40, which was slightly above this week’s low of $2.14. It remains about 35% below the highest level this year. dYdX moves to decentralization dYdX is a leading…

2. What problem does dYdX solve, and what are its investment prospects?

The dYdX exchange makes it easy and affordable for investors, traders and speculators to deal in crypto. It has a conventional order book mode that is easily understood, yet its layer 2 architecture allows it to maintain good scalability with instant transactions. Moreover, with discounts on fees for token holders, it could be a favourite in the community for many years to come.

There aren’t really any significant downsides to the platform, beyond the obvious stiff competition on the market. However, this is a project with an experienced team that seems competent, and provided the project stays on the right path, significant price accretion could occur for DYDX.

Be sure to read the latest news and developments surrounding dYdX by clicking on one of the links below:

dYdX DYDX/USD is essentially a decentralized exchange (DEX) that is built on top of the Ethereum ETH/USD network and aims to deliver financial instruments to users. These include perpetual, margin, and spot trading, alongside features such as lending and borrowing The dYdX…

3. Do you want to hold dYdX for the long term?

You can either hold dYdX coins for a prolonged period of time to speculate on potential price appreciation, or you can trade them for faster returns. There are different considerations you should make for each of these methods, and they are detailed in the section below.

Considerations for a long term investment strategy

If you want to get some DYDX and hold it for the foreseeable future, find a crypto exchange and sign up. Then, you can purchase coins and store them in a wallet for safekeeping, though this is optional.

Considerations for a short term trading strategy

If you are more keen on trading dYdX, try to find a broker that offers the lowest fees around. That way, you will get to keep more of your profits. In addition, be sure to learn all about technical analysis so you can read the market effectively.

Sources & references
Risk disclaimer
Charlie Hancox
Financial Writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.