dYdX Exchange

Is dYdX scam or legit? dYdX exchange can be safe or not ?

This is a good topic because most of the major crypto exchanges currently have a lot more or less. But for a new crypto broker and the number of small and small currency pairs, traders have to reassess to eliminate risks.

The total number of trading pairs of dYdX is: 6

Site internet:

Launch date: 17-04-2019

The total trading volume of the exchange in the past 24 hours: 0 USD, ranking: 466 / 503. Be careful, some small brokers are established solely for the purpose of trading, blowing prices, and manipulating a few of their own cryptocurrencies. The ICO scams and illegal fundraising recently have similar characteristics.

Apart from the small number of trading cryptocurrency pairs, one more key to detect whether dYdX is a scam. It is the age of exchange's. The website of the dYdX is . Is it newly registered or has it been around for a long time? High or low website rankings? Which countries are the visitors from? If the traffic is mainly from your country but the content is entirely in a foreign language, you should be very cautious. Because maybe this virtual currency exchange is just to trick local investors.

You can check the traffic to the dYdX website at the link https://www.alexa.com/siteinfo/ and pay attention to the following issues:

- If the website of dYdX has a rate of visitors from a country (Visitors by Country) is mainly from your country, but its website interface content is completely (or default) in English, you will be careful.

- If the Alexa Rank (Global Rank) of the dYdX is not in the top 50,000, it proves that this exchange is relatively small, the number of visitors is small, there are not many investors participating. The short-term risk is very low liquidity and trading volume and the long-term risk is low revenue of exchanges, which will make dYdX to become a scam exchange when investors cannot withdraw their money. Too low trading volume of dYdX can be used as a key factor to manipulate or pump some garbage coins.

Psychology is very important in the success of cryptocurrency trading. For peace of mind, you should open accounts at large and reputable exchanges, such as dYdX (the largest cryptocurrency exchange in the world, top 1 trading volume, fast liquidity, favored by world traders)

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