Comparison of Uniswap vs dYdX [ 2024 ]

The best cryptocurrency exchanges compared by their commissions, products offered, security and much more. Here is the Uniswap vs dYdX comparison!

Your expert: Alejandro Borja

Uniswap

Uniswap

Your expert: Xavier Tarrasó

dYdX

dYdX

Main points

Fees

0,30%
NFTs
No

Native token

Token UN
0,10%/0,05%

Fees

Yes
NFTs
Token DYDX
Native token

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

3.8 – High Ethereum gas fees can make transactions costly, despite the efficient AMM model.
4.0 – Competitive trading fees, especially for advanced trading features, but higher costs for gas fees on Layer 1.

Level

0,30%
0,10%/0,05%

Brief explanation

Uniswap charges a 0.3% fee for all swaps on the platform, which is distributed to liquidity providers as their incentive for supplying assets. Additionally, Uniswap offers four fee tiers depending on the stability of the trading pairs: 0.01% for very stable pairs, 0.05% for stable pairs, 0.3% for most pairs, and 1% for exotic pairs. These fees are set by liquidity providers and can vary based on market conditions and the risk associated with the pairs. It’s important to note that Uniswap itself does not collect these fees; they are entirely distributed to the liquidity providers. Users also need to pay Ethereum gas fees, which can be high during periods of network congestion, adding to the overall cost of transactions on Uniswap​​​​ .
dYdX employs a competitive fee structure that benefits both low-volume and high-volume traders. For trading, the platform uses a maker-taker fee model. Maker fees, for orders that rest on the order book and provide liquidity, range from 0% to 0.02%, while taker fees, for orders that remove liquidity, range from 0.05% to 0.1% based on trading volume. Notably, dYdX offers zero trading fees for users with a 30-day trading volume below $100,000​​. Additionally, holding the platform’s native DYDX token can earn users up to a 50% discount on trading fees​​. For withdrawals, there are no fees for standard transactions, but a 0.1% fee applies for fast withdrawals​​. There are no deposit fees, making dYdX a cost-effective choice for active traders​​.

Uniswap

dYdX

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Product selection

Native token

Yes, the native token is UNI.
Yes, the native token is DYDX.

Earns

Yes, Uniswap provides EARN opportunities through liquidity mining, where users can earn fees by providing liquidity to various pools.
Yes, dYdX offers EARN opportunities mainly through staking DYDX tokens for staking rewards and liquidity provider incentives.

NFT marketplace

No, Uniswap does not have an NFT marketplace.
No, dYdX does not have an NFT marketplace.

Cripto/debit card

No, Uniswap does not offer a debit card.
No, dYdX does not offer a debit card.

Company information

Full name

Uniswap Labs
dYdX Trading Inc.

Regulation

No, Uniswap is not regulated by any specific financial regulatory authority.
No, dYdX is not regulated by any specific financial regulatory authority, although it operates under compliance with general regulations for financial products and services.

Year founded

2018
2017

Founder

Hayden Adams
Antonio Juliano

Payment methods

Transfers

Deposits: Credit card, wire transfer (via MoonPay or Transak), cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.
Deposits: Cryptocurrency transfers; Withdrawals: Cryptocurrency transfers.

Mastercard

Yes, Uniswap supports deposits via Mastercard through third-party services like MoonPay or Transak.
No, dYdX does not support direct deposits via Mastercard. It only allows transactions through wallet connections.

Wire transfer

Yes, Uniswap supports deposits via wire transfer through third-party services like MoonPay or Transak.
No, dYdX does not support direct deposits via wire transfer. It only allows transactions through wallet connections.

Card

Yes, Uniswap supports deposits via credit card through third-party services like MoonPay or Transak.
No, dYdX does not support direct deposits via credit card. It only allows transactions through wallet connections.

Comparative table

Uniswap FEATURES dYdX
Uniswap allows for very small trades, accommodating users who wish to trade minimal amounts, enhancing accessibility for all types of investors.
Minimum Trade
dYdX allows relatively low minimum trades, suitable for both small and large investors, though not the lowest in the market.
Uniswap charges a flat 0.3% per trade, which is competitive within the decentralized exchange landscape but can be higher compared to some centralized exchanges.
Trading and Transaction Fees
dYdX offers highly competitive fee structures, especially on Layer 2, minimizing costs significantly for traders.
Supports a wide array of ERC-20 tokens, providing extensive variety for traders seeking to explore different cryptocurrencies.
Number of Cryptocurrencies
The selection of cryptocurrencies is somewhat limited, focusing primarily on major assets which restricts diversity in trading.
Offers numerous trading pairs exclusively for crypto-to-crypto transactions, utilizing an automated liquidity protocol.
Crypto-to-Crypto Trading Pairs
Offers a moderate range of crypto-to-crypto trading pairs, primarily focused on major cryptocurrencies, limiting options for altcoin traders.
The website provides clear information about its processes and liquidity pools; however, some users may seek more detailed data on token metrics.
Website Transparency
The platform excels in transparency, with open access to smart contracts and clear, public documentation of its operational protocols.
Primarily operates on the Ethereum network, which may limit users exclusively looking for multi-chain interactions.
Credit/Debit Card
dYdX operates primarily on Ethereum and has integrated Layer 2 solutions, enhancing speed and reducing costs, though it’s not available on multiple blockchains.
As a decentralized exchange, it does not offer custodial storage services, requiring users to manage their own wallets.
Storage Offering
As a non-custodial exchange, dYdX allows users to maintain control over their private keys, though it doesn’t provide custody services itself.
Offers liquidity providers the chance to earn fees from trades involving their liquidity pools, but lacks direct staking rewards.
Staking and Rewards
dYdX offers some staking options and rewards, mainly focused on liquidity providers, but it’s not as extensive or diverse as some might prefer.
The website is user-friendly and well-designed for trading with ample educational resources but could use enhancements in navigational aspects.
Mobile App and Desktop
The dYdX website is user-friendly, well-designed, and offers all necessary information readily accessible, making it easy for users to navigate.
Limited customer service options; support mainly available through community channels and documentation, not direct support lines.
Customer Service
Customer service is adequate with support channels available, but feedback suggests there could be improvements in response times and support reach.
As a DEX, deposit and withdrawal processes are handled through user wallets without direct interaction with the platform, offering high flexibility but less guidance for new users.
Deposit and Withdraw
Deposits and withdrawals are efficiently handled via smart contracts, although options are limited to cryptocurrencies with no fiat support.

Key features

Analysis tools

Trading charts, liquidity pool analytics, historical price data, and transaction volume statistics.
Advanced trading charts, order book depth, margin and leverage calculators, risk management tools, and historical trade data.

Mobile APP

No, Uniswap does not have a dedicated mobile app, but it can be accessed via mobile browsers.
Yes, dYdX has a mobile app available for both iOS and Android.

Security

Uniswap is renowned for its security, having undergone multiple high-profile audits and boasting a long track record of safe operation. Its decentralized nature and robust smart contracts provide a secure trading environment.
dYdX emphasizes security through extensive smart contract audits, multi-signature wallets, and robust risk management tools. The platform also utilizes Layer 2 scaling solutions to provide secure and cost-effective transactions.

Additional features

Uniswap V3 introduces concentrated liquidity, allowing liquidity providers to earn more fees with less capital. It also supports NFT positions and has an automated market maker (AMM) model for efficient trading.
dYdX provides Layer 2 scaling for faster and cheaper transactions, insurance funds to protect traders from extreme losses, and perpetual contracts for advanced trading strategies.

Anonymity

Yes, Uniswap permits anonymous trading through wallet connections, without the need for personal information.
No, dYdX typically requires identity verification, especially for advanced trading features and higher withdrawal limits, due to regulatory compliance.

Key points

Available cryptocurrencies

Ethereum (ETH), Bitcoin (BTC) through wrapped tokens (WBTC), Tether (USDT), USD Coin (USDC), Uniswap (UNI), and a vast range of ERC-20 tokens.
Ethereum (ETH), Bitcoin (BTC), dYdX (DYDX), Tether (USDT), USD Coin (USDC), and other popular ERC-20 tokens.

User-friendliness

Uniswap is one of the most popular DEXs and is known for its simplicity and ease of use. The platform’s clean interface and straightforward swapping mechanism make it ideal for beginners, although high Ethereum gas fees can be a drawback.
dYdX is designed for more experienced traders, offering advanced trading options like margin trading and perpetual contracts. While its user interface is clean and professional, the complexity of its trading tools might not be suitable for beginners.

Value for money

Uniswap offers great value, particularly due to its user-friendly interface and extensive liquidity. However, high Ethereum gas fees can detract from its cost-effectiveness for smaller trades. Despite this, its efficient swapping and liquidity provisions are valuable.
dYdX delivers significant value, especially for advanced traders looking for margin trading and perpetual contracts. Despite being on Ethereum, its sophisticated tools and zero gas fees on Layer 2 trades make it a worthwhile investment for serious traders.

Countries of operation

Available globally, no specific country restrictions.
Available globally, with some restrictions in countries like the US due to regulatory concerns.

Best for

Ideal for beginners due to its user-friendly interface and vast liquidity. It’s also a great choice for experienced traders who appreciate its pioneering role in the DeFi space and the broad range of tokens available for trading.
Geared towards advanced traders and institutional investors who require sophisticated trading tools like margin trading and perpetual contracts. Its robust platform is ideal for those seeking high leverage and advanced order types.

Account

Trading

Uniswap is the largest and most well-known DEX on the Ethereum network, offering high liquidity and a vast selection of tokens. It pioneered the automated market maker model and continues to lead in innovation. However, high gas fees on Ethereum can be a barrier for smaller trades.
dYdX stands out for its advanced trading features, including margin trading and perpetual contracts. It is built on Ethereum, providing a secure and decentralized trading environment. The platform is ideal for experienced traders but might be overwhelming for beginners due to its advanced tools and higher transaction fees.

Deposit and withdrawal

Uniswap operates on the Ethereum network, requiring users to connect Ethereum wallets such as MetaMask for deposits and withdrawals. While it offers a high level of security and control, Ethereum’s high gas fees can make transactions costly, especially for smaller trades. Users must manage their wallets and stay aware of fee fluctuations.
dYdX supports Ethereum-based wallets like MetaMask for deposits and withdrawals. Users need to deposit funds into the platform to utilize advanced features like margin trading. While dYdX offers high security and control, Ethereum’s high gas fees can make the deposit and withdrawal process expensive, especially for smaller transactions.

Account opening process

Uniswap, built on the Ethereum network, allows users to trade by connecting their Ethereum wallets like MetaMask. There is no need for account registration, ensuring user privacy and control. While the process is simple, users must handle their own wallet security and be aware of Ethereum’s potentially high transaction fees.
To use dYdX, users connect their Ethereum-based wallets, such as MetaMask or Ledger. The platform requires a deposit of funds to enable trading features like margin and perpetual contracts. While the setup is straightforward and secure, new users might find the process complex due to Ethereum’s transaction fees and the need for initial deposits.

KYC required?

No, KYC is not mandatory for using the platform.
Yes, KYC is mandatory for certain features and higher withdrawal limits.

Customer Service

Uniswap relies on community support through forums, Discord, and social media, supplemented by comprehensive documentation and FAQs. This decentralized support model encourages user self-reliance but may not meet the needs of those seeking direct and personalized customer service.
dYdX provides support through its help center, which includes detailed documentation, FAQs, and troubleshooting guides. The platform also engages with its community via Discord and Twitter. While the available resources are thorough, the absence of direct customer service might be challenging for users needing quick, personalized assistance.

Security

Uniswap is renowned for its security, having undergone multiple high-profile audits and boasting a long track record of safe operation. Its decentralized nature and robust smart contracts provide a secure trading environment.
dYdX emphasizes security through extensive smart contract audits, multi-signature wallets, and robust risk management tools. The platform also utilizes Layer 2 scaling solutions to provide secure and cost-effective transactions.

Which of these exchanges is for you?

As an expert on our platform, I must point out Uniswap as an exemplary decentralized exchange for anyone looking to engage deeply with the crypto market. Its automated liquidity protocol is revolutionary, simplifying the trading process without needing traditional order books. For those interested in a vast array of ERC-20 tokens and providing liquidity to earn passive income, Uniswap is a platform that consistently leads in innovation and user empowerment in the DeFi space.
As an expert interacting frequently with various trading platforms, I find dYdX to be an exceptional choice for traders looking to delve into advanced trading options like derivatives and leverage within a secure, decentralized environment. The platform’s robust security measures and transparency make it a trustworthy option. However, I recommend it primarily for seasoned traders due to its complexity and focus on advanced financial instruments. Newcomers to cryptocurrency trading might find simpler platforms more suitable to start with.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong, any exchange can have problems.

Neither Threenvest, nor the author, are recommending you to invest with this article.

More comparatives Uniswap and dYdX

Comparison of Uniswap vs dYdX [ 2024 ]