Tutorial: How to use dYdX
dYdX uses an orderbook market-making model. This means large institutions and individuals act as counterparties for each trade. Thanks to this, dYdX solved the age-old problem of high slippage (more expensive trades). The platform's very competitive fees structure (cheapest in DeFi) and extensive range of listed assets solidified dYdX's place as the DeFi perps champion.
What is dYdX?
dYdX is a perpetual futures (perps) exchange. It allows traders to take long (buy) or short (sell) positions on any of the 37 assets listed, with up to 20X leverage. (This means you can put down $1 and get exposure to $20 of the asset).The V4 upgrade is coming soon and will see dYdX move to its own, app-specific blockchain, built on Cosmos. This will unlock the potential for revenue sharing with token holders and allow $DYDX to be used to pay gas fees. The value accrual of the token will grow exponentially.
For more information on dYdX, check out this Simply Explained. For a detailed look at the protocol, see our Deep Dive here.
Risks
Today, we’re going to show you how to use dYdX. Before that, make sure you understand the risks. With high leverage, comes high risk. If you are 20X leveraged, a 4% move against you would completely wipe out your position. Only use money you can afford to lose!To find out more about perps, and how they work, check out this article.
How to Use dYdX
The video below shows a step-by-step guide on how to use dYdX, assuming you already have a MetaMask wallet set up. To find out how to do so, click here.To trade on dYdX, simply follow the instructions below:
1) Fund your Metamask wallet with USDC (to deposit into dYdX) and ETH (for gas fees).
2) Go to https://trade.dydx.exchange/.
3) Follow the steps in this video.
Disclaimer: Not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.
Continue reading by joining Cryptonary Pro
$1,548 $997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
24/7 access to experts with 50+ years’ experience Terms
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
Recommended from Cryptonary
