dYdX’s own standards are high. The DEX has made it its mission to empower traders worldwide and democratize access to financial opportunities. BTC-ECHO takes a closer look at why dYdX is already one of the leading decentralized exchanges and whether the DEX can also be a promising option for newcomers to the crypto market.
dYdX makes it easier for crypto newcomers to get started
The video review looks at various criteria of the exchange, which was founded in the USA in 2017 and now also has its own token. dydx has already established itself among the top 100 cryptocurrencies by market capitalization.
The user-friendliness of a DEX is particularly important for users. The first part of the review therefore first clarifies the question of how quickly even an inexperienced investor can find his way around dYdX. It turns out that the exchange is designed quite clearly and therefore does not pose any major hurdles for beginners.
Low trading fees
What is also crucial for interested parties is what fees are incurred when trading crypto derivatives on a platform. A look at the fee structure shows that this is a very cheap DEX compared to the competition and that costs can be further reduced with a high trading volume.
It is pleasing that dYdX passes on all of the fees it collects to the community. Stakers and validators can currently earn around $1 million in USDC every week. In addition, the open source platform offers further trading rewards. The distribution takes place in the form of the in-house dydx token.
Large range of supported wallets and coins
An important criterion for many investors is which wallets are supported by a DEX. In the best case scenario, the user can connect directly to their existing wallet and does not have to download and install anything additional. dYdX impresses in the review with the large number of supported providers. A total of almost 90 different wallets can be connected, including popular services such as Metamask or the Coinbase Wallet.
dYdX can also collect plus points with regard to its selection of coins. Although the selection is currently not the largest on the market with more than 50 coins, it is impressive thanks to its careful compilation. Well-known cryptocurrencies such as Bitcoin, Ethereum and Cardano are on offer, as are the most important DeFi projects, including Solana, Filecoin and Maker. This offer should be sufficient for most investors. Additionally, dYDX aims to add five to eight new trading pairs every week.
View the detailed test from dYdX now
You can see the detailed review of dYdX with many other interesting assessments from the BTC-ECHO expert here YouTube video view.
You can find further information in the dYdX fire hub
Sponsored post
Disclaimer: Sponsored posts are paid articles for the content of which the advertising companies are solely responsible. BTC-ECHO bears no liability for the promised services or investment recommendations. The article is intended solely for information purposes and does not constitute a purchase or sale recommendation. It is neither explicitly nor implicitly to be understood as a guarantee of a specific price development of the financial instruments mentioned or as a call to action. The purchase of securities or cryptocurrencies involves risks that can lead to the total loss of the capital invested. The information does not replace expert investment advice tailored to individual needs. Liability or guarantee for the topicality, correctness, appropriateness and completeness of the information provided as well as for financial loss is neither expressly nor implicitly assumed. Posts marked “Sponsored” or “Advertisement” are published independently by, for example, guest commentators, news agencies and advertising companies. As a result, the content of the contributions cannot be determined by the investment interests of BTC-ECHO or its employees or bodies. The guest commentators, news agencies and companies are not part of the BTC-ECHO editorial team. Their opinions do not necessarily reflect the opinions and views of BTC-ECHO and its employees.
This might also interest you