How to buy dYdX (ethDYDX)(ETHDYDX) on KuCoin

DYdX Chain adopts the Cosmos SDK and CometBFT consensus mechanism, becoming a proof-of-stake blockchain network. Through community governance, DYDX has become its first-layer (Layer 1) token. This facilitates the use of DYDX tokens for validator staking, ensuring the security of the chain and enabling holder governance. The utility of DYDX includes staking, enhancing security, and governance. Holders can either validate or delegate validation to others, thus reinforcing consensus. Increasing the amount of DYDX staked can improve the network's security against coordinated attacks. Additionally, DYDX holders have governance rights, allowing them to democratically propose and vote on network changes, including parameter adjustments, fund management, and node software updates.

How to Buy ETHDYDX

1. How to Buy ETHDYDX on Exchanges

Step 1: Choose a reputable exchange platform

Select a trustworthy platform from numerous exchanges to make your purchase. Some trusted platforms include Coinbase, Binance, OKX, among others.

Step 2: Register an account

Create an account on the chosen exchange platform. You may need to provide personal information (such as phone number, email) to complete the registration process.

Step 3: Complete identity verification

For security reasons, some platforms may require you to undergo identity verification. Follow the platform's instructions, providing necessary identity information (such as country/ID number) and undergo facial recognition if prompted. Once your identity is confirmed, you'll receive notification.

Step 4: Link your bank or payment method

Link your bank account or other payment methods to the exchange platform for making payments when purchasing ETHDYDX.

Step 5: Purchase ETHDYDX

Find the option to buy coins on the exchange platform, select the C2C buying process, then input the amount of cryptocurrency you wish to purchase. Typically, you'll choose to buy USDT first and then proceed with the purchase method. Simply place your order, make payment to the seller, and you'll receive the cryptocurrency. Once the payment is completed, you can use your exchange assets to buy ETHDYDX.

Step 6: Store your ETHDYDX

After purchase, you can choose to store ETHDYDX in the digital wallet provided by the exchange platform or transfer it to a hardware wallet under your control.

Step 7: Security Tips

To protect your exchange account and ETHDYDX assets, it's essential to use strong passwords and enable two-factor authentication.

How to Buy ETHDYDX via Over-the-Counter (OTC) Trading

Over-the-counter (OTC) ETHDYDX trading occurs directly between buyers and sellers, bypassing exchanges or other intermediaries. Here are the general steps for OTC ETHDYDX trading:

Step 1: Find an OTC trading channel

Start by finding a reliable OTC trading platform or service provider. These platforms typically offer online marketplaces or ways to connect with brokers for trading.

Step 2: Register an account

Sign up for an account on the chosen OTC trading platform. You may need to provide some personal information (phone/email) to complete the registration process.

Step 3: Complete identity verification

For security purposes, some platforms may require you to undergo identity verification. Follow the platform's instructions to provide necessary identity information (nationality/ID) and undergo facial recognition or other verification steps.

Step 4: Browse the trading list

After logging into your account, browse through the platform's trading list to find ETHDYDX trades that interest you. You can choose trades based on the trader's reputation rating, trade volume, price, and payment methods.

Step 5: Select a trading partner

Once you find a suitable trade, click to enter the trading page and carefully review the trader's terms and conditions. Ensure you understand and agree to the trader's requirements, such as trade amount, payment method, trade time, etc.

Step 6: Negotiate trade details

After reaching an agreement with the trader, you can negotiate trade details such as trade amount, payment method, trade time, and location.

Step 7: Make payment

According to the agreement reached with the trader, use the chosen payment method to pay the ETHDYDX purchase amount to the seller.

Step 8: Confirm receipt

Once the trader confirms receiving your payment, they will release ETHDYDX to the ETHDYDX address you provided. You can check your ETHDYDX wallet balance after the trade to confirm its success.

3. How to Buy ETHDYDX through Decentralized Exchanges (DEX)

Buying ETHDYDX on decentralized exchanges (DEX) differs from purchasing other cryptocurrencies on centralized exchanges. Here are the general steps for buying ETHDYDX on DEX:

Step 1: Choose a ETHDYDX-supporting wallet

Create a new wallet supporting ETHDYDX assets, then select a decentralized exchange that supports ETHDYDX.

Step 2: Connect your wallet

Before using the DEX, you need to connect a wallet supporting the ETHDYDX blockchain. You can connect your wallet to the selected DEX via browser extension or mobile application.

Step 3: Deposit funds

In your wallet, select deposit and choose the asset you want to deposit (such as stablecoins). Follow the wallet prompts to complete the deposit process.

Step 4: Find the trading pair

Search or browse for the ETHDYDX trading pair on the DEX. Typically, you can find a search box or a list of trading pairs on the exchange's homepage or trading interface.

Step 5: Place an order

Once you find the ETHDYDX trading pair, you can choose between market or limit orders and input the quantity you want to purchase. Ensure you input the correct price and quantity in the order, then confirm the order.

Step 6: Wait for the trade to execute

Your order will be submitted to the ETHDYDX blockchain and wait for confirmation and execution by miners. Once the order is executed, you will receive the purchased ETHDYDX, which you can view in your wallet balance.

Step 7: Withdraw funds

After completing the trade, you can choose to withdraw the purchased ETHDYDX to your wallet for safer storage of your digital assets.

4. Official Channels for ETHDYDX Project Team or Community

Sometimes, the ETHDYDX project team or community may launch official channels for direct ETHDYDX purchases. This may include private placements, presales, or other forms of direct sales.

ETHDYDX Cash Price: The price fluctuates daily, with the highest price recorded at $27.78as of March 30th.

Recommended Exchanges: Binance, gate, Bybit.