The 5 Best Ways To Buy DYDX In 2022

How Do I Invest In DYDX?

Last Updated November 26th 2022
15 Min Read

DYDX thrives on the possibilities of the dYdX decentralized exchange to make gains for investors. In this article, Trading Education shares the best ways to buy DYDX in 2022. Through this piece, you will get to know and understand the pros and cons of the different exchanges to buy DYDX crypto asset.

DYDX is the governance token of the eponymous non-custodial decentralized cryptocurrency exchange, dYdX. 

The primary goal of dYdX is to help users earn consistent revenue and as well incentivize traders to provide more liquidity to the project’s protocol. 

This has led to thousands of crypto lovers patronizing the DEX as one of the best exchanges to go about their trading and investing activities. 

In the long term, this has transcended positively into its native asset, DYDX. 

Although they are mostly used interchangeably, dYdX is the decentralized exchange and DYDX is the cryptocurrency and ticker symbol that the entire project trades on, on several cryptocurrency exchanges. 

Once you do a thorough study of the dYdX project, you will soon realize that the best cryptocurrency exchanges to buy DYDX are very easy to find. You will also soon realize that searching for the different exchanges to buy DYDX is highly dependent on your preferences as well as geographical location.

 TABLE OF CONTENTS:

Best 5 Exchanges To Buy DYDX 

Finding the best 5 exchanges to buy DYDX is not an easy task. 

Analysts and experts at Trading Education had to do a thorough study of all the 38 exchanges that support DYDX. 

Throughout this exercise, we came across issues of registration difficulties, fees, limits, customer service problems, geographical location restrictions, payment methods, scalability, payment methods, and liquidity problems.

These are issues many novice and beginner traders and investors are not privy to which can become obstacles to their having quality trading journeys. 

After gathering all the possible data we could get our hands on, our analysts and experts finally settled on the 5 best exchanges to buy DYDX in 2022. 

These exchanges were selected based on the range of payment methods they support, daily volumes, fees regulation, and security. They have been recommended to millions of our readers. And the winners are eToro, Binance, OKX, DigiFinex, and Honorable Mentions.

1. eToro 

eToro is one of the most popular exchanges in the centralized and decentralized finance market

As a multi-asset exchange, the platform was launched in 2007Supporting stocks, commodities, and indices at first, the social trading platform enabled support for digital tokens in 2014

eToro is one of the pioneer exchanges in the world and has been able to serve more than 30 million customers over 15 years without any problems. 

It is one of the most patronized exchanges in the crypto finance space and as a result, records billions in daily trading volume. 

Serving more than 100 countries around the globe, many novice traders ask questions such as is DYDX on eToro, does eToro add support for DYDX, can I buy DYDX on eToro, where can I buy DYDX, and when did eToro list DYDX

eToro supports DYDX for trading and announced this on 1st February 2022.

If want to know how to buy DYDX, eToro provides a simple registration process. 

Firstly, register for an account on eToro

Secondly, attain a fully verified status.

Depending on how cooperative you are as a client, you can be verified within minutes. 

Thirdly, upload funds to your account.

Lastly, navigate to the DYDX Page (on this page, you can buy any amount of DYDX coins, and it would be processed and added to your investment portfolio).

Before you invest in DYDX through eToro, let us do a thorough study of its pros and cons. 

Pros of eToro: 

✅ Smartphone users can access the eToro app through Apple and Google Play stores. Personal computer users (desktop, laptop, and netbook users) can access eToro on the World Wide Web. 

✅ Most supported payment methods come with free deposits. 

✅ Low trading fees. 

✅ Payment Methods are bank transfers; bank cards (VISA, Maestro, MasterCard); and online financial services wallets such as Skrill, PayPal, Neteller, and others).

✅ Well-Regulated Exchange with Great reputation (offices in the United States, the United Kingdom, Cyprus, Australia, and Israel). 

✅ Supports 48 cryptocurrencies (as of Saturday, 19th February 2022). 

✅ Demo accounts for beginner traders to learn more about the risks associated with trading. 

✅ Highly secured platform. 

✅ Offers DYDX Copy trades that help beginners copy the market moves of experts. 

✅ High Volume Exchange (records more than $1 billion in daily trading volume). 

Cons of eToro:

Supports a relatively smaller number of digital coins. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

2. Binance 

The Binance Exchange is part of a huge project that comprises blockchain technology (Binance Smart Chain), decentralized finance protocols and applications (PancakeSwap), non-fungible tokens (NFTs), and stablecoins such as Binance United States Dollar (BUSD). 

Launched in 2017, Binance is the most patronized cryptocurrency exchange in the space today. 

The exchange serves these customers in more than 180 countries. 

Due to the range of coins the exchange supports, it has become the go-to platform for several beginners who want to experiment with the possibilities of digital coins. 

Binance supports the trading of DYDX and announced this via a blog post on 8th September 2021. 

Before you take advantage of Binance’s trading platform to invest in DYDX, let us analyze the pros and cons of the exchange. 

Pros of Binance:

✅ The largest cryptocurrency by market capitalization (records at least $10 billion in daily volume). 

✅ Aside from supporting bank cards, the exchange supports deposits through crypto wallets such as TrustWallet. 

✅ Supports more than 300 cryptocurrencies. 

✅ Supports more than 1,000 markets. 

✅ Has one of the lowest trading fees in the crypto finance space. 

✅ Highly regulated exchange.

✅ Processes more than 1.4 million orders per second. 

✅ Highly secured platform (has the necessary encryptions that protect your custodial wallet). 

✅ Staking rewards (on 21st January 2022, Binance launched DYDY high-yield staking). 

Cons of Binance:

Complex dashboard. 

Limited functionality for Binance US users. 

Does NOT support PayPal and co.

Continues to be mired in several regulatory problems.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

3. OKX 

Based in Seychelles, OKX was formerly known as OKEX. 

Founded in 2017, the exchange is among the most popular as well as largest by daily trading volume. 

OKX believes that decentralized finance provides several opportunities for the underbanked and unbanked. 

As a result, it is important to create a stable, reliable, and safe environment that helps traders get more out of their financial activities. 

Serving more than 20 million customers in over 100 countries, OKX has extensive mileage.

Though it has been mired in some hacking controversies in the past, OKX is still the preferred exchange by millions of traders. 

OKX supports the trading of DYDX and announced this on 8th September 2021. 

Let us analyze the pros and cons of OKX. 

Pros of OKX: 

✅ Top 5 exchanges in terms of volume (records a minimum of $1 billion daily). 

✅ Uses bank-level SSL encryption and cold storage to protect your crypto holdings. 

✅ Supports many payment methods. 

✅ Supports more than 440 markets. 

✅ Supports more than 260 cryptocurrencies. 

✅ Well-regulated exchange. 

✅ Low trading fees. 

✅ Offers great customer service. 

✅ Highly accessible exchange (can be found on Apple and Google Play Stores). 

Cons of OKX: 

Residents of the United States cannot access the exchange. 

NO virtual funds for beginners to experiment with the volatile nature of cryptocurrencies.

Users without the appropriate verification status face several limitations. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

4. DigiFinex

Although credible data is hard to come by with regards to the formation of this exchange, it is believed DigiFinex was founded in 2017 and became extremely active in 2018

Although not popular to skeptics of trading, DigiFinex is a top 20 cryptocurrency exchange by daily trading volume. 

The exchange supports more than 150 countries and provides trading services to over 4 million users. 

As a highly liquid exchange, DigiFinex featured strongly in Statista’s survey of the biggest cryptocurrency exchanges in 24 hours on Monday, 14th February 2022. 

DigiFinex supports the trading of DYDX and announced this via a blog on 23rd September 2021.

Not surprisingly, DigiFinex is the third strongest market for DYDX after OKX and Binance. 

It will only be right that you do a thorough assessment of the pros and cons of DigiFinex before investing in DYDX. 

Pros of DigiFinex: 

✅ Supports approximately 174 cryptocurrencies (as of Saturday, 19th February 2022). 

✅ Supports approximately 224 markets (as of Saturday, 19th February 2022). 

✅ Highly liquid exchange (as of writing, DigiFinex had recorded $1.85 billion in trading volume). 

✅ Offers low trading fees. 

✅ Offers free deposits. 

✅ Has applications on Google Play and Apple stores. 

✅ Offers several forms of customer support such as email and live chat among others (24/7).

✅ Great reputation (no cases of data breach or hacking). 

✅ Highly secured platform (has bank-level security that includes multiple steps of registration). 

✅ Offers flexi-earn and crypto loan opportunities for liquidity providers to earn passive income. 

✅ Highly regulated exchange (prioritize Knowing Your Customer).

✅ Accepts several payment methods.   

Cons of DigiFinex:

NOT available to residents of the United States and Singapore. 

5. Honourable Mentions 

Although the exchanges mentioned constitute the best ways to buy DYDX, other exchanges have great products that can serve your needs. 

Some of the other best exchanges to buy DYDX are FTX, Gate.io, Huobi Global, Bybit, BitMart, KuCoin, Uniswap V3, Crypto.com, Kraken, AAX, SushiSwap, Indodax, Korbit, Poloniex, HitBTC, ZB, Bitrue, BKEX, Nami, LBank, BTSE, AEX, LATOKEN, CoinEx, and Bitget among others.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

dYdX: Introduction To The Crypto World Of One Of The Best Decentralized Exchanges 

In the crypto finance space, there are several projects, and dYdX is one of the best. 

dYdX falls under decentralized exchanges which is a part of decentralized finance protocols and applications

Aside from that, it crosses paths with stablecoins and decentralized oracle networks

As you sail on through the crypto finance space, several terminologies will come across. 

Understanding them will go a long way towards helping you in your trading journey. Among others are:

  • Exchanges: There are centralized cryptocurrency exchanges such as eToro and Binance and decentralized exchanges such as dYdX and Uniswap. They are trading platforms created to exchange fiat currencies for cryptocurrencies and crypto for crypto. 
  • Blockchain Technology: They help in the creation, distribution, storage, and trading of DYDX. To put it simply, blockchain technology helps DYDX move from one user to the other. 
  • Crypto Wallets: They are software that facilitates access to the Ethereum Blockchain which houses the dYdX protocol. Wallets that support DYDX include but are not limited to MetaMask, Ledger/Trezor, Coinbase Wallet, WalletConnect, imToken, TrustWallet, Atomic Wallet, and MyEtherWallet. They help in transferring and storing DYDX safely and securely. 
  • Divisibility is one of the hallmarks of DYDX. Like all cryptocurrencies, the attribute of divisibility plays a key role in adding value to a token. DYDX can be divided into eight (8) decimal points (1.00000000). As of writing, DYDX traded for $6.5 a coin. You do not have to buy a whole DYDX token if you do not want to. With $5, you can buy approximately 0.76923076 DYDXs

You will come across more terminology as you learn about the best ways to buy DYDX. 

Trading Education would like to remind you to prioritize answering how to buy DYDX and where can I buy DYDX so that you can enjoy investing in DYDX.

Read Also: Top 7 Best DeFi Cryptocurrencies To Invest In

Comparison Of Payment Methods Used In Buying DYDX 

There are several payment methods when it comes to investing in DYDX. Among others are; 

Credit/Debit Cards ― To many people, credit/debit cards are the easiest and fastest ways to buy DYDX. 

PayPal ― This payment method is listed by most of the exchanges that support the trading of DYDX. Many experts believe PayPal is one of the easiest ways to buy DYDX. 

Cash ― This is the sole way through which you can buy DYDX anonymously in 2022. 

Bank Transfer ― As one of the most secure methods used in buying DYDX, a bank transfer is among the best ways to buy DYDX. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Cheapest Place To Buy DYDX 

eToro is the cheapest place to buy DYDX from our list. You can use several payment methods that come with no deposit fees. 

You can enjoy low trading fees as well.

The Safest Place To Buy DYDX

The safest place to buy DYDX is eToro. This is because they prioritize KYC and use a range of security methods to safely and securely protect your custodial wallet. 

eToro has been around for a long time and has not been mired in any cyber security breaches.

The Easiest Way To Buy DYDX 

The easiest way to buy DYDX is eToro and Binance. They are great cryptocurrency exchanges that support several payment methods. 

You can buy DYDX coins and they will be processed for you within seconds.

How Do I Buy DYDX Near Me? 

The only way to buy DYDX near you is through a smartphone. Become a fully verified member of eToro, Binance, OKX, and DigiFinex. You can buy DYDX tokens within a short period. 

Check Out: What Top 10 Cryptocurrencies To Invest In

Best Ways To Buy DYDX Anonymously 

The only way to buy DYDX tokens anonymously is through an investment pool. Thereby, you share all the rewards as well as the losses.

Best Ways To Buy DYDX With PayPal 

The best way to buy DYDX with PayPal is to find an exchange that lists the wallet as a payment method. eToro is the sole exchange among the best ways mentioned that supports buying DYDX with PayPal. 

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Best Places To Buy DYDX With Your Bank Account 

The best place to buy DYDX with your bank account is through Binance and eToro

Best Places To Buy DYDX With Credit/Debit Card

The best places to buy DYX with your debit/credit card are through eToro and Binance.  

Conclusion

There you have it, a full list of the best exchanges to buy DYDX. 

Do a comprehensive study of the dYdX crypto project, and become an integral part of the new financial revolution called decentralized finance.

eToro — Top Cryptocurrency Platform To Buy DYDX

eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

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9 Promising Cryptocurrencies To Invest In

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