DYDX - dYdX

What is dYdX (DYDX)?

dYdX (DYDX) is a decentralized crypto exchange built on the Ethereum blockchain, designed to empower traders with advanced trading tools and functionalities. Unlike traditional centralized exchanges, dYdX operates as a non-custodial platform, meaning users retain control of their funds at all times. Moreover, it offers a variety of sophisticated features that redefine trading in the crypto landscape, enabling users to engage in margin trading, spot trading, and perpetual contracts with leverage (a type of futures contract that does not have a predetermined selling date). 

Additionally, the platform plays a crucial role in the broader DeFi ecosystem by offering users the ability to earn interest by lending their assets to margin traders. This innovative approach to trading and lending has garnered attention from both institutional and retail traders, positioning dYdX as a prominent player in the rapidly evolving DeFi sector. Through its seamless and permissionless interface, dYdX offers users unparalleled access to the world of decentralized trading and lending, making it a central hub for crypto enthusiasts seeking enhanced financial tools and opportunities. Learn more

How to Deposit DYDX Into Your Coinmetro Account

For all information on how to deposit DYDX into your Coinmetro account, please see the following help center article: How to Deposit DYDX.

As Coinmetro uses smart contracts for Ethereum and ERC-20 token deposits, the amount of gas required is slightly higher than a typical transfer. To be sure that your transaction is successful, please set the transaction gas limit to 55,000. The fee difference is minimal. If your gas limit is too low, the transaction will simply be rejected by the Ethereum network. There is no risk of loss of assets caused by a too-low gas limit.

If you're depositing from another exchange, it is important to ensure they support sending funds to ETH contracts or using a full ETH wallet as an intermediary.

How to Withdraw DYDX From Your Coinmetro Account

For all information on how to withdraw DYDX from your Coinmetro account, please see the following help center article: How to Withdraw DYDX.

Important Note - To request a withdrawal, your account profile needs to be verified as well as having the funds to cover your withdrawal. The first time a withdrawal is made to a destination, the destination needs to be confirmed via e-mail. If you have 2-Factor Authentication enabled for withdrawals, you will be asked to input the code for each withdrawal, approved or not. We suggest enabling 2-Factor Authentication to protect your account.

Withdrawals waiting for approval can be canceled and the withdrawal status can be found by selecting the Wallet on your Coinmetro Dashboard. Please note that already-approved withdrawals cannot be canceled. If there is no Cancel button visible, this unfortunately means the withdrawal can no longer be canceled, and you will find a transaction ID (TXID) instead. This is a link to the relevant transaction hash on a Blockchain Explorer website where the status can be checked further.