One of the major complaints newcomers into the crypto space have is the complexity of the whole bitcoin world. From unintuitive and user-unfriendly trading platforms and wallets to utterly new terminology and philosophy, bitcoin is a lot to digest for a newbie trader and investor.
Luckily, at least in the sector of crypto exchanges, a lot of progress has been made when it comes to simplicity and user trading interface without sacrificing utility and efficacy. Bityard is one of the cryptocurrency derivative trading exchanges that set simplicity and beginner-friendliness as its top priority. This Bityard review will go over all important features of this Singapore-based exchange, including fees (like transaction fee), security, trustworthiness, and other pros & cons. So, let’s dive into the review process by checking some basic background info and the offering of Bityard platform.
BitYard is the world’s leading cryptocurrency derivative exchange. Since its establishment in late 2019, BitYard has continued to bring professional and convenient new trading services to global users, including cryptocurrency spot trading, Contract for Difference (CFD) trading, and copy trading services.
In the second half of 2021, BitYard launched a series of system upgrades. With the new corporate slogan “Grow Your Future in the Yard” and a largely improved user interface, BitYard takes cryptocurrency trading to a whole new level, providing its user with a much better trading experience.
- Cryptocurrency spot trading
- CFD trading
- Copy trading system
- Perpetual contract trading service (coming soon)
- Grid trading system (coming soon)
Features of BitYard services
- Users can buy and sell crypto spots of the world’s most mainstream coins, including Bitcoin, Ethereum, Litecoin, and Dogecoin.
- CFD trading services for multiple digital asset types, including cryptocurrencies, indices, commodities, and forex.
- Low trading fees (for both spot and CFD trading).
- Easy-to-understand user interface.
- High leverage range for CFDs.
- Advanced copy trading system with top listed traders around the world.
- Convenient deposit methods. Users can make deposits using cryptocurrency and fiat money.
- You can get as much as 100x leverage on this platform.
- It keeps a certain minimum in the hot wallet to aid with daily liquidity.
Bityard has received the financial licenses (virtual currency exchange license and e-wallet licenses) issued by the Estonian Financial Regulatory Authority (MTR) and obtained other licenses issued by the Business Administration of Singapore (ACRA), the United States Financial Supervisory Authority (MSB), and the Australian Transaction Reporting and Analysis Center (AUSTRAC) to stay highly compliant with regulations of crypto trading.
Spot Trading Service
On BitYard, users can buy and sell over 150 cryptocurrencies, from Bitcoin and Ethereum to the trendiest altcoin of the moment. At the same time, BitYard will continue to list more new coins to provide users with plenty of trading choices.
The spot trading fee on BitYard is 0.1% for Maker/Taker.
CFD Trading Service
CFD asset types on BitYard include cryptocurrencies, forex, indices, and commodities, with up to a 400x leverage range (depending on the crypto asset type), providing users with a high degree of trading flexibility.
The CFD trading fees on BitYard are also based on the crypto asset type, and the fees are overall low.
Does Bityard have a demo account?
Yes, Bityard has a fully featured demo account where you can hone your skills before taking the training wheels off.
Does Bityard require KYC?
No, Bityard has no mandatory KYC process, which is a big plus in the eyes of many crypto traders as it fits into the original narrative and ethos of cypherpunks and crypto OGs.
Bityard native token – BYD
Bityard introduced mining activity as well, where the mining rewards are paid out in BYD – a native platform token that is yet to have a public ICO.
BYD is a platform coin issued by Bityard with a total circulation of 210M. It plays an important role in the Bityard ecosystem and will be listed on mainstream exchanges in the future. The design and role of the token are similar to BNB and other exchange tokens launched by almost all major crypto trading platforms.
Bityard vs. competitors
|License||Securities Dealer License||Financial Services Comission||MTR||AUSTRAC,|
|Transaction fee||0.075%||0.075%||0.075%||0.05% (The mining reward can be deducted by another 10%)|
|Supported deposit currency||Only 1 BTC||5 BTC、ETH、EOS、XRP、USDT||2 BTC、ETH||7 BTC、ETH、XRP、USDT、TRX、HT、LINK|
|Minimum Margin||1 USDT||5 USDT||0.1 BTC / 1 ETH||5.00 USDT|
|No. Of Assets Options||8||4||2||10|
|Max. withdrawal||None||10 BTC||None with KYC||100,000USDT|
|KYC?||No||No||Withdrawals > 1BTC||No|
|Customer Support||Email, Telegram||Email, Online customer||Email, Telegram, Online customer|
|Brand Ambassadors||None||None||None||Buakaw Banchamek|
Copy Trading System
Like other mainstream exchanges, BitYard has developed a copy trading system that allows users to copy the strategies of top-performing traders. For these users, directly copying the trading positions of professional traders can improve their win rate. A system is a convenient tool developed by BitYard to make trading much easier for novices around the world.
For the traders who get copied by BitYard users, they will receive a minimum of 8% of the profits from each successful position as commission.
BitYard has partnered with Banxa and Paxful to provide convenient fiat money deposit methods for global users to buy cryptocurrencies using mainstream fiat currencies like USD, EUR, AUD, and CAD. The payment methods include credit cards, bank transfers, and cash deposits. BitYard users can buy cryptocurrencies like Bitcoin, Ethereum, and Tether easily and safely with their fiat currency.
BitYard Affiliate Program
BitYard has its affiliate program. The influential trading professionals in the cryptocurrency industry can apply to become a member of the program by contacting BitYard team.
BitYard affiliate program members can have to 40% commission rate and build or strengthen their personal brand image in the industry through the help of BitYard.
Trading crypto contracts with leverage is a highly risky endeavor, and you should first make sure to get a good grip on spot trading and all risks and benefits before you ignite the leveraged trading rocket. Once you are ready to take a plunge, Bityard is definitely a platform worth considering, thanks to its easy-to-use and straightforward dashboard.
Of course, if you have any problems, you can always contact online customer support or send an email address to them.
- BitYard provides a straightforward user interface.
- It offers 1 million transactions per second, making it the industry's quickest trading engine at the moment.
- 7 significant digital currencies can be deposited by traders.
- There are currently 16 coins available for trading.
- Only USDT is accepted for withdrawals by traders.
- There is no withdrawal of fiat.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com