The last year has been really tough for everyone in the cryptocurrency industry. We had it all, from depegged stablecoins, and outright frauds to big players of the industry like BlockFi, Celsius, and FTX going bankrupt. The cryptocurrency market has been shaken up violently by the events of last year.
In the current situation, two things are important for the cryptocurrency industry as a whole as well as for every single user. First of all, it is important to find trustworthy partners, especially when it comes to trading cryptocurrencies. Secondly, it is important to break the Binance monopoly which also can't be healthy for the cryptocurrency space in the long term.
Let me explain why I believe that BYDFi is a decent choice when it comes to finding a trading partner that you can trust and why exchanges like BYDFi are important to break the current Binance monopoly.
What Is BYDFi?
BUIDL Your Dream Finance, in short BYDFi, is a well-established cryptocurrency exchange based in Singapore. The exchange is not only limited to users in Singapore, the opposite is actually the case. BYDFi is a global platform that investors from over 150 different countries are able to use. Even US citizens can use BIDFi without any doubt as the platform is fully licensed by US Financial Crimes Enforcement Network.
Some of you may already be familiar with BYDFi because the platform has just rebranded itself from Bityard to BYDFi in January 2023. The main goal of rebranding the platform was to reflect BYDFi's commitment to helping new cryptocurrency projects and to press forward with innovation in the blockchain space. That's exactly the spirit of "BUIDL" which is a common crypto term for building and taking action to push things forward.
Why BYDFi Is The Right Place To BUIDL Your Dream Finance
I believe that BYDFi is the perfect place to start building your dream finance, basically for three main reasons. BYDFi is a trustworthy crypto trading partner, it has some outstanding features and it helps to break the Binance monopoly.
Just recently, in March 2023, BYDFi has been named by Forbes as one of the TOP 10 cryptocurrency exchanges in 2023.
BYDFi has already proven itself over the course of the past three years as a secure and trustworthy trading platform. This is also something that I can also confirm from my own trading experience with BYDFi as I am already using it for more than two years now.
Another important thing to keep in mind is that one of the few winners of the FTX collapse last year had been Binance. The market share of Binance has become so incredibly big that it is a massive global monopoly. Monopolies are never beneficial for customers or the industry as a whole. It is important to have a choice when it comes to crypto trading. If you don't want to have one big company that rules the whole industry then you have to give the competitors at least a chance to prove themselves.
One of the Binance rivals that you should consider giving at least a chance is BYDFi. They are not only trustworthy as I have already mentioned but they also have extremely low trading fees, whether in spot or derivates market. The trading fee on spot markets, for example, ranges from only 0.1% to 0.3% on over 400 different trading pairs.
Furthermore, they are also offering some great features that make BYDFi stand out from its big competitors like free demo trading, contract trading, and copy trading.
Special Features On BYDFi
My two favorite features from BYDFi are copy trading and contract trading. These are awesome features that you won't find on Binance. I have already covered both features in two separate posts. You find the articles to my previous articles down in the resources.
Copy trading on BYDFi is not like a trading bot. It is more of some kind of social trading. On BYDFi, you will find the profiles of different professional traders who are allowing you to copy their trades. Choose one of the traders to follow and copy his trades automatically.
Another TOP feature that makes BYDFi stand out from its competitors is contract trading. Contract Trading is very different from regular spot trading and has a high level of risk compared to regular spot trading. You are speculating on the price of an asset and forecasting if it will drop or raise but you are not really buying or selling them.
There can be massive gains but on the other hand, there can also big losses. That's why I believe that this feature is for more experienced traders. The good thing for those who are new to contract trading is that BYDFi offers professional tools for contract trading that are very user-friendly and easy to use. I believe that every professional crypto trader will love this special BYDFi feature.
Get Your BYDFi Bonuses
I always like collecting bonuses and rewards and I bet you like it too. BYDFI comes with a ton of bonuses, for new as well as advanced users.
The new user rewards include different coupons like a 50 $USDT coupon for making your first fiat deposit or a 30 $USDT reward for your first crypto deposit. When you sign up for BYDFi and complete the KYC then you can even get a Mystery Box that ranges anywhere from $5 to $5000.
All in all, you can currently get up to $2888 in bonuses and rewards for completing different actions and tasks.
My Final Conclusion
I hope that I could provide you with useful and interesting about BYDFi. If you want to start to "Buidl Your Dream Finance" with a trading partner you can trust while breaking the Binance monopoly then you might consider signing up for BYDFi - enjoy low trading fees, high liquidity, and juicy bonuses up to $2888.
Please note that this post is also my entry to the #BYDFiii writing competition currently running here on Publish0x. However, let me assure you that my post really reflects my own opinion. I have already published five posts about BYDFi, formerly BitYard on Publish0x in the past covering different aspects of the crypto exchange like "BitYard Is The Best Exchange For Contract Trading - Crypto, Derivates, Forex Trading" or "No Need To Be A Professional Trader When You Can Copy Trade On BitYard".
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By the way, I also recommend following BYDFi across their social media channels like Twitter, Telegram, and Discord. They always have some fun events and giveaways going on. For example, right now you can win a Perpetual Bonus for joining the BYDFi discord server.
