Hyperliquid DEX Review

Read our full Hyperliquid DEX review to get exact details about their safety, accounts, spreads, platforms, assets, support, and many more. Our unbiased Hyperliquid DEX opinion allows our readers to decide whether Hyperliquid DEX is a reliable broker.

Hyperliquid DEX History

Hyperliquid DEX is a decentralized crypto exchange. The platform mainly allows users to connect wallets and exchange one crypto with another. There are a multitude of different coins available for users, enabling them to both trade and exchange their coins. Hyperliquid has its own trading platform which is built into the DEX’s website and is mainly used for trading purposes. It also incorporates an order book allowing traders to see market depth and catch trading opportunities easier.

The platform is relatively young and is still in test mode. Despite this, it is very responsive and user-friendly, which is not a common occurrence.

Hyperliquid DEX safety

When it comes to safety, the platform is decentralized and is not overseen by any authority. This is common among decentralized exchanges as these platforms are not overseen by regulators and offer trading without intermediaries. Hyperliquid has its own blockchain where HYPE coins are used for transaction fees. Developing a Layer 1 blockchain network is not an easy task and there is serious work behind the platform.

Hyperliquid DEX Review of Accounts

Since Hyperliquid is not a traditional broker, it also has no different account types. Instead, traders can connect their wallets to the platform and then execute transactions by exchanging one coin for another or buying and selling different cryptos. There is no leverage offered at the moment as the platform allows direct buying and selling using the user’s wallet.

Hyperliquid DEX instruments

Hyperliquid decentralized exchange only allows access to a wide range of crypto instruments. Here are tens of different altcoins and BTC and ETH as well, providing traders with the opportunity to speculate on digital currencies. Traders can both buy and sell different cryptos.

However, the platform is mostly known for its support of perpetual crypto futures with up to 50x leverage, which is very flexible.

They can also buy and save cryptos in their wallets including HYPE. For crypto enthusiasts who want to invest and save HYPE, the dex is the best place. HYPE has many uses on the platform including transaction fees and traders need to have this token in order to conduct trading activities.

Hyperliquid DEX Reviews of Trading Platforms

Decentralized exchanges usually have laggy and slow trading platforms, which is not the case with Hyperliquid DEX. The platform incorporates a web trading platform which offers advanced features and works just fine. It is responsive and has many useful features such as a large library of built-in indicators and market depth where traders can see an order book and use indicators and trade.

There are no standalone trading platforms offered and traders have to use a web browser to access the DEX which is a downside. Mobile trading is not available as there are no mobile apps available yet.

Hyperliquid DEX Review of Extra Features

Hyperliquid DEX offers full documentation to clearly see what is going on and how it works. However, there are no other extra features such as bonuses or events.

There are airdrops which give users HYPE tokens, but there are no other features available.

Hyperliquid DEX Reviews of Customer Support

When it comes to customer support, the platform only has an online form, which is email support. There is no live chat or phone support which is natural for decentralized crypto exchanges. There is a community chat where users can connect and share ideas.

Hyperliquid DEX Deposit and Withdrawal

There are no deposits and withdrawals at Hyperliquid DEX in a traditional sense. Users can connect their wallets using the website’s button and start exchanging tokens. It is a fast and secure process, which enables users to buy and hold or trade cryptos.

Hyperliquid DEX Review Conclusion – can you trust Hyperliquid DEX?

In the end, Hyperliquid is a decentralized crypto platform that allows users to connect wallets and trade various crypto pairs. The platform is decentralized, built upon Layer 1 blockchain , which uses its native token, HYPE. The token is used for governance, staking, and transaction fees on the DEX. The platform is not regulated as it is decentralized and has no centralized authority or intermediaries. The platform still operates in a test mode which makes it risky.

FAQs on Hyperliquid DEX

Is Hyperliquid DEX a scam?

Hyperliquid DEX scam or rug pull is still possible as the platform is decentralized and is not regulated by any authorities.

What is the Hyperliquid DEX minimum deposit?

There is no minimum deposit requirement as users connect their wallets and can trade different cryptos. They need a HYPE token for transaction fees.