If you would ask me what`s the best cryptocurrency exchange then I would give you the following answer: THE best cryptocurrency exchange does not exist because, in the end, it all depends on what you want to do. If you want to trade a lot of different coins, Binance is a good choice. If you want to hunt low market cap gems, look on KuCoin and if you like participating in presales, Coinlist is the place to go to.
If you want to do contract trading then you should definitely check out BitYard, the best place for contract trading.
Is Contract Trading Only For Professionals?
I would say that contract trading is at least for experienced traders. This means that you should have done some regular spot trading before you start with contract trading. Some basic knowledge about technical analysis is probably also helpful.
So you don`t need to be a professional but you should know how cryptocurrency exchanges are working.
The good thing is that BitYard offers professional tools for contract trading that are very user-friendly and easy to use. BitYard is also offering a demo tool to practice contract trading. In this way, BitYard helps you to become a professional sooner or later.
What Is Contract Trading?
Contract Trading is very different from regular spot trading. Contract trading has a high level of risk compared to regular spot trading. There can be massive gains but on the other hand, there can also big losses.
Contract trading is a method of trading that allows you to gain profit from the market's volatility. You need to forecast if the price of a certain asset will go up or down, involving leverage. This means that you are not buying or selling the asset. You are only speculating on the price and forecasting if it will drop or raise.
Bityard offers three different types of Contract Trading: Cryptocurrencies, Forex, and Derivatives.
I recommend making some demo trades before making a real trade. In this way, you get familiar with the platform and you can actually see that the procedure on BitYard is actually really easy. Of course, predicting future prices is not as easy as simply initiating the contract trade on BitYard.
Welcome Bonus And Daily Mining
BitYard is also offering a welcome bonus and a daily mining activity to reduce your trading fees. Smart contract traders take advantage of these bonuses.
The beginner rewards and the trading bonus can be deducted 20% of the trading margin when placing an order.
If you want to reduce the fees for contract trading, you can mine some funds daily simply by pressing a button. It`s a simple, fun, and unique way to massively reduce your trading fees.
My Final Words
I hope I could provide you with some interesting and useful information about BitYard, in my opinion, the best exchange for contract trading. 🤓
I would also like to know if you ever did contract trading and on what exchange? It would be awesome if you leave a comment.
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