BYDFi is a cryptocurrency trading platform. Its core value is to help "BUIDL Your Dream Finance" to suit you individually. BYDFi has been simplifying the complex crypto trading environment to create a simplified one since its official launch on April 1, 2020. In other to create one ideal for both beginners and professionals. And as it celebrates its 3rd anniversary this core value is being achieved. Happy Anniversary BYDFi.

Why fundamentals you may ask? In the face of the Celsius, LUNA, and FTX debacle and its impact on the entire credibility of the crypto-space, it is important for investors, traders, copiers, project teams, media, and other communities to pay attention to how the projects/exchange/platforms are being run and managed; and a fundamental analysis is a right way to approach this.

The Kryptview Fundamental Analysis Approach

According to Investopedia – Fundamentals include the basic qualitative and quantitative information that contributes to the financial or economic well-being of a company, security, or currency, and its subsequent financial valuation. The kryptview fundamental research approach was designed to provide a comprehensive fundamental analysis of projects and companies in the cryptocurrency space. The model analyzes 6 blocks of fundamentals namely

1. Team and Advisors
2. Project
3. Traction & Community
4. Token
5. Ecosystem and Competition
6. Sustainability

1. Team and Advisor

BYDFi was co-founded by Michael Hung a Computer science graduate of Shih Hsin University in Taiwan. He has a visible presence in the company as shown on his LinkedIn profile. BYDFi's management has been running the multi-million dollar exchange successfully for three years, although there are no visible proofs of prior blockchain experience, the team has garnered extensive experience from its own organization.

BYDFi has a dedicated marketing team led by the co-founder, and the platform is active as indicated by its daily activities including

• listing 400+ cryptocurrencies
• 150x leverage
• 0.2 BTC daily withdrawal limit without KYC

BYDFi team has developed multi-million dollar entrepreneurial and blockchain skills over the past three years which is very good; however additional skills in management and advisor will further strengthen the team.

2. Project: About BYDFi Exchange

BYDFi is registered in Seychelles and was founded in 2019 to design, manage and operate a professional platform for the provision of cryptocurrency contracts and related services that are trusted by many users. It is headquartered in Singapore. BYDFi is a trading platform, a cryptocurrency exchange, and a DEFI, with a well-established use case.

Some of its active products include

1. Spot
2. COIN-M – which are perpetual contracts settled in USDT
3. USDT-M – which are perpetual contracts settled in cryptocurrency
4. Lite Contracts – these are lite trading targeted at beginners.

BYDFi generates revenue by charging transaction fees for trades executed by users, and plans to increase users and the number of transactions in the future. Thus its dedicated marketing team, which shows that BYDFi is planning for the future and long term. I believe a lite paper and roadmap will help to further communicate this to potential new users and assure existing users.

3. Traction and Community

The BYDFi team is reachable and can be contacted via several channels including

Telegram：https://t.me/BYDFiEnglish
Telegram Channel：https://t.me/BYDFiNews

Twitter：https://twitter.com/BYDFi
Discord: https://discord.gg/h7fBhBHQSV
Linkedin: https://www.linkedin.com/company/bydfi/

Email: [email protected]

A review of all the above channels found them to be all active, well engaged. Its biggest community of about 26k followers is on twitter and 11k on Telegram. BYDFi holds regular AMAs(Ask Me Anything Sessions) at least once a month. Despite the above channels a visible easy to accessible website contact form will be an invaluable addition to customer service.

4. Token & Investors

With over 500k users BYDFi is clearly liquid, however, evidence of audit or proof of reserves will further shore up user confidence. BYDFi has no token of its own but rather uses existing tokens like USDT. Audits will further assure users of the team, holdings, and vesting policies.  

5. Ecosystem & Competition

Cryptocurrency trading platforms are not easy to launch and sustain, however, BYDFi has surmounted this feat and thus celebrates its third anniversary this year. Happy Anniversary BYDFi.

To achieve this feat BYDFi has developed some key partnerships including with

• Chainlink Labs
• Blockchain
• Banxa
• Mercuryo - Financial Services etc

BYDFi plays in the same space as kucoin and Kraken who are some of the market leaders, however, BYDFi continues to provide top class easy-to-use features for its users. BYDFi is especially easy for beginners to use.

6. Sustainability

BYDFi founders have not been previously convicted for a criminal offense and have their headquarters in a strong financial regulation country. BYDFi appears to have a fair gender equality policy with up to 40% of staff members being female as shown on their LinkedIn account. They also show a strong effort to protect users' privacy and security as indicated by their user privacy policy and terms of use.

With respect to environmental impact, this is minimal. However, it is good policy and corporate responsibility to show that one is concerned about the environment and the UN-SDG. Also, it's good practice to explain governance and decision-making mechanism at BYDFi.

Conclusion.

BYDFi has grown to over 500k users in a short term, this fundamental analysis is indicative that it will be a sustainable, secured, and easy-to-use platform for the foreseeable future, especially with its low transaction fees and ease of use. However, there is room for improvements which can all be easily achieved.

I will rate BYDFi with a strong-Medium rating, in a rating spectrum of Junk-Weak-Medium-Strong.

Disclaimer

The opinions shared within this article are solely those of the authors. Note that the content within should not be considered financial, legal, or tax advice. Neither the author nor BYDFi is a financial, legal, or tax advisor. Do your own research and consult professionals as needed for official policies, restrictions, and requirements in your jurisdiction

Join the community with any of the channels of your choice

Twitter | Telegram | Discord | BYDFi | Referral link

Referral link - https://www.bydfi.com/en-US/account/register?ru=ZdkkRY