Over the last decade, several cryptocurrency exchanges have been developed and competed in the evergrowing market. Some have survived because of the constant progress they have made while others have just gone extinct. Most of the exchanges falls in the second category because of hacks (not having multi-sig wallets, lack of proper audits, using hot wallets to store crypto) or just not changing with the market needs.

The whole point of exchange is to provide an easy way for user to swap/trade coins but implementing it in a way that it attracts everyone from a noob to a pro is the challenge. For example, Coinbase used to have 2 separate applications each targeted to distinct audience. Pro users could go for coinbase pro by getting a subscription while regular user could simply get free version of Coinbase which didn't provide much tweaking around.

That's all well and good but then crypto-exchanges went from only allowing swap/trade for coins to support for leveraged tokens, derivative and what not. So, a market which already scares new-bees because of its advanced technical aspects and background knowledge became more and more confusing.

BYDFi came into existence way back in April 2020. This year marks its 3rd Anniversary (happy anniversary BYDFi!). It has already survived the first crypto wave of having the bull run in its early days and then the current bear market. Still going strong. It was launched under the name Bityard which was then changed to BYDFi this year. As the title suggests Buidl Your Dream Finance, the new name suggest that the exchange is here to allow people to build their dream portfolio. So what are all the things that BYDFi allows you to do:

1. Trading Crypto: Well every exchange allows that. However, here you are provided 3 different view options in Spot Trading. User who wants to place limit orders can go with "Basic" or "Advanced" view where the former will try to provide its user with minimal needed features that they require. Much better if you don't want to be overwhelmed. "Advanced" view will provide you with every possible feature you need at a single click distance from you.

Then there is a single click solution "Convert". User can simply choose the pair and the platform will swap them at the current market price. A better alternative if you don't want to deal with any chart or numbers whatsoever. The Spot trading fees if between 0.1 - 0.3% for maker and taker which is reasonable (and even better) when compared with other competitors. There are over 400 spot pairs available for users.

2   Leverage Trading: To summarize this, imagine that you have some asset that you are sure will go up or down drastically. Now, to earn higher profits you will need larger amount of that asset. Leveraging basically allows you to have that high exposure to market fluctuation without having the higher amount you need. Depending on the crypto-currency you want to leverage, BYDFi will allow you 150x the leverage which is mind-boggling. This basically means that you can leverage your $300 worth of asset to be exposed as $300,000 worth. So, any profit you make with market fluctuation will be equal to the 150x amount. 

BYDFi also supports Perpetual contracts that can be settled in either USDT or from a long list of cryptocurrency available that you can choose from. These contracts are basically futures with indefinite hold time. So, without ever owning any crypto, you can simply get the equivalent token either betting on the price going up or down.

Remember that leveraging comes with its risk. If you are going to profit at 100x leverage, you also stands a chance to lose everything at 100x. So, be confident at what you are going to do.

3. Copy Trading: This feature is handy for new users who are still not familiar with market fluctations. So, basically you can choose from a list of people and copy their trading activities! BYDFi will automatically synchronize your trades according to the trader you have choosen. Your positions will be automatically closed depending on the person you are following. 

Let's talk about security feature now.

• Over the 3 years of its market footprint, the platform never had any security incident.
• BYDFi is audited and follows the trading standards in four countries: the U.S., Singapore, Australia, and Estonia.
• Most of the funds are held in cold-wallet which means that they are not connected to Internet.
• The funds that are stored in hot-wallets are protected with multi-sig. So, even if hackers get access to one private key, they will not be able to withdraw the funds.
• Along with all this, the exchange funds and user assets are further stored in separate wallets making sure that the user assets are not tampered with.

What else?

Well you can passively earn money by just referring BYDFi to new users! You will be earning upto 40% for each trade the person you referred make. The earning isn't even limited to 12 months or whatsoever like other exchanges. More? Well, you will not only be earning a cut from the person you refer, but you will even be earning from 2nd as well as the 3rd level. So, if the person (say A) you have referred further onboard a new user (say B), then you will get a commission for each trade done by 'B' also.

There are also welcome rewards like 2 USDT for using google authenticator, 50 USDT reward on first FIAT deposit, 30 USDT reward on first crypto deposit and what not.

You can sign up with my referral link here. Else, you can also sign-up without my referral link from here.