DYDX

Buy, sell, stake and borrow ETH, USDC, DAI and WBTC on this decentralized platform that is quickly rising in popularity.

Chapter 1 : Logging on to DYDX

DYDX utilizes metamask or other web 3.0 wallets in order to identify its users. To log in you simply need to be loged into your Metamask and follow the instructions on site. You may need to go in your Metamask and allow DYDX to connect. Click “my account” followed by “settings” and “connections” while on the DYDX website.

DYDX

Chapter 2 : Leverage

DyDX offers the possibility to leverage assets. Any asset deposited can be leveraged up to 10x. Do not risk more than you can lose. More leverage will augment the risk you take. The higher the leverage, the more precise your call will have to be.

The system will guide you but please keep in mind that this is the riskiest form of trading available. 

Chapter 3 : Staking/Lending

In order to get paid from DYDX, you can simply deposit assets [ETH][DAI][USDC] into their system and leave it in the balance. The % offered by asset is listed next to the asset in “Balance” section. You would then earn a % of your deposit for every single day it remains unmoved. The percentage is paid daily and variable. You can use the funds or withdraw them at anytime but will stop getting the %. Be mindful of transaction fees when entering and exiting the platform. You are in full control.

Chapter 4 : Spot Trading

Spot trading is simply to trade at market value using no leverage. You can spot trade on DYDX using your deposited assets. Recommended for all. Simply click on “Spot” inside DYDX trading platform. You can then choose to place market orders or limit orders. Market orders are to buy at the price determined by the market. Limit order is for you to decide at which price precisely you want to buy. There is also a “stop” tab in the “spot” section. That is to be used if you have an asset and you have a price at which you wish to trade. Enter that price in the “stop” section. Have fun and good luck.

Chapter 5 : BTC Perpetuals

BTC perpetuals are available on DYDX. Advanced feature that is highly leveraged [risky] .

DYDX

Trustless

Trade with no counterparty risk. Remain in control of your funds of all times.

 

Liquid

dYdX aggregates spot and lending liquidity across multiple exchanges.

 

Powerful

Trade on margin with up to 4x leverage. Back your positions with any supported collateral.

 

Accessible

No sign up required. Start trading immediately from anywhere in the world.

 

Secure

Powered by Ethereum Smart Contracts. Built and audited by the best.

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