How to Purchase dYdX (DYDX) using michi ($MICHI)

To buy dYdX using michi, first, find a cryptocurrency exchange that supports the DYDX/$MICHI trading pair. Create an account, verify your identity, and deposit your $MICHI into your exchange wallet. Locate the DYDX/$MICHI pair on the trading platform and place an order to exchange your michi for dYdX. If the DYDX/$MICHI pair is unavailable, you can first exchange michi for a stablecoin like Tether (USDT) or a fiat currency, then trade that for dYdX. Be mindful of potential exchange fees, which vary by platform and can affect the total cost of your transaction. In Germany, it’s also important to consider the tax implications of your trades, as capital gains tax may apply to your profits from cryptocurrency transactions.