1.0 The concept of Bityard
Bityard is a relatively new Singapore based exchange that is trying to offer a unique and uncomplicated leveraged trading experience. Essentially: complex product, simple trade. They offer trading on up to 8 different cryptocurrencies with leverage of up to 100x. They are trying to find a unique balance between offering complicated financial instruments through a simplistic and intuitive user interface.
The main differentiators of this is exchange is the low entry levels as well as well as their unique contract offerings. They are trying to be more simplistic than the likes of BitMEX or Prime XBT. One pertinent thing to note that differentiates them from some of the other exchanges that are in vogue is that they do not have any restricted regions. Anyone in the world can create an account there and start trading.
1.1 Bityard exchange
These denotes the modalities Bityard can be readily exchanged with other cryptocurrencies or assets. This exchange can including swapping with other cryptocurrencies at same or unequal rates. Exchange is however a feature of crytpo trading, hence, Bityard observes the rule of exchange as a distinct feature of cryptocurrencies.
1.2 How it work
Bityard provides a trading platform to support the trading of cryptocurrencies by way of contracts. Cryptos supported for trading include: USDT, BTC, ETH, XRP, TRX, Huobi Token, EOS, and BYD token. The platform allows investors to trade and invest in either mainstream cryptos supported by Bityard or OTC. Users who already own cryptocurrencies supported by Bityard may transfer these to the compatible wallets provided on the Bityard platform.
1.3 Variety of services offered by Bityard
Bityard been a cryptocurrency for the future offers arrays of esteemed services which includes.
Exchange Security
Given that you are sending cryptocurrency to the exchange, you will want to make sure that they are protecting your coins. This is why Bityard uses multiple wallets stored offline in cold environments. “Cold storage” is perhaps the best way to protect the funds from a hacker as it cannot be accessed from the internet. Bityard keeps the majority of the funds in cold storage with only a smaller portion in “hot wallets” that are used to pay withdrawals / take deposits.
Communication Security
As you will have noticed, Bityard has full SSL encryption which means that whenever you are sending documents or communicating with them – it is a secure communication.
User Side Security
Very often, you are the first line of security with your account. That is why it is great to see that Bityard have provided tools in order to protect your account from being compromised by a hacker.
The first of these are two factor authentication. If you bind your phone, when you log in you will receive a text message to verify the login. This means that even if the hacker has your password, they cannot login.
Asset Coverage & Instruments
When it comes to the instruments traded on Bityard, these are not futures. They are leveraged contracts that work very much like a Contract for Difference (CFD).
As such, there are no order books at Bityard. When you trade you are placing a trade that is matched by the exchange themselves. The benefit of this is that you won’t get any order slippage on your trades.
2.0 My advice to future and crypto investors on Bityard
In addition to its focus on simplicity of trading, Bityard offers many other advantages for new contracts traders. First and foremost Bityard is a name you can trust. The company is headquartered in Singapore, one of the top regulated global financial centers, and from there it offers services in more than 150 countries. Bityard is also regulated and licensed under different government agencies in Singapore, USA, Europe and Australia. And it takes the security of your funds seriously, employing multiple safety measures such as 2 factor authentication, anonymous trades, multiple offline signatures, cold storage, real-time risk audits, full refund warranty and more.
Bityard also offers additional ways for you to profit from the platform, on top of trading. Using an affiliate system you can become a business partner of the exchange, earning up to 60% of commissions on all trading fees generated by people you helped introduce to Bityard. The affiliate system is easy to use and transparent, and you can make your affiliate links stand out to your friends with images from Bityard’s brand ambassador Buakaw Banchamek, the Muai Thai kickboxing champion. An extra way to make money on the platform is receiving BYD, an exchange coin issued by Bityard which plays an important role in the ecosystem. BYD will be listed on mainstream exchanges in the future, and has the potential to grow in value the same as BNB has done in the past.
2.1 Services provided by Bityard in regard to security are under the following subheadings
2.2 Liquidity provisions
Liquidity is one of the most important factors in a cryptocurrency exchange or brokerage’s long term success.A trading venue’s liquidity represents how easily a trader can use the platform to exchange one asset for another. If a trader sends a market order to buy or sell an asset and the venue can’t find enough buy or sell orders to complete the transaction at a reasonable price, the venue is likely struggling with low liquidity — and the trader is likely to take their future business elsewhere. However, Bityard provides enough liquidity that enable traders to trade in the simplest form.
2.4 Bityard Crypto exchange
A cryptocurrency exchange or a digital currency exchange ( DCE), is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. Exchanges may accept credit card payments, wire transfers or other forms of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can be a market maker that typically takes the bid–ask spreads as a transaction commission for is service or, as a matching platform, simply charges fees. Bityard as a leading digital currency allows for the above features and as such, it avails traders to opportunity to utilize these arrays of features for easy and simple operation in the trading market.
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