Cryptonauts we love you!! & Igor & the Pub0x and the old Bityard, now standing tall as BYDFi !!!! For having another contest where we all learn about the great new world!! In this timeline, it's time to wish BYDFi a happy birthday!!!! whooo hooo!! Big bad THIRD anniversary, that's 21 years old in crypto and dog years!!!! Go BYDFi!!! It's BYDFiii now baby and we on the Pub0x LOVE IT!!
Today we present the mighty Build Your Dream Finance, BUIDL like HODL. we think. BUILDL ?? The rebrand of the mighty Bityard. Pub0x believers know the great Bityard from days of yore. We loved Bityard. And not just that we love anything with a cryptonaut theme!!! We loved the early move into derivs, while keeping a focus on getting licenses and a full offering while staying legal YET ACTUALLY having some decent limits without KYC proving where you have been for the last twenty years!! Solid, for the big boys n girls!!
But the name did have some junk yard connotations. Still, rebranding is always tough - we still call Nissans Datsuns!! But with the help of the Pub0x, and with the intense focus of the BYDFi team, the rebrand is up and over the hump! & BYDFi is running wild and free... Here we see the brands running in parallel for a while, always a great idea... Personally, we would recommend naming some new product or service bityard classic just to keep the good mojo and goodwill accumulated by the gone but not forgotten Bityard. But then we are sentimentalists!!
BYDFi is the real deal, an all singing, all dancing full featured entry into the state of the art CEX arena. The key attributes are excellent fees and margins, high speed transactions with one of the fastest engines, full fledged derivative technical package, low KYC, with .2 BTC withdrawals. The trade copy function is huge with social trading leading the world now. The derivatives are really strong and offer insane (150x) leverage for those who want it.
BYDFi is a play for serious non KYC traders, not stakers/lenders, TRADERS. The happy birthday thing is important, there is a trust factor that has been elevated there!!
Classic portfolio management teaches extremely conservative investing, except for money it's OK to lose. Therefore we personally are chickenshit in a professional religious sort of way!!! We always recommended the MOST BORING exchanges out there, to reduce any risk at the CEX level, not just the investment level. So who's the most boring? Big number one, recommend it to Grandmama, is Bitstamp. All they do is try to be more regulated, and only have a very few coins, and very slow to offer any other services ( staking, loans, derivatives) at ALL. Next most boring: Coinbase, of course, followed by Kraken, then MAYBE Binance. All of those are excruciating in their KYC, we never could pass Binance even when helping friends who geophysically should have skated in.
What's the point? if ya want a full featured CEX, boring is not enough. Tho those who used Celsius, 3AC, Voyager, etc. might disagree ah HA HA HA!! But in real life, boring is necessary, happy birthday and many many more into the future, BYDFi!!! But JUST boring doesn't cut it, especially if you want deriv trading and social trading. And you do. Even our most boring positions, with the benefit of hindsight, really needed some small long hedges going the other way in derivatives, at a reasonable price. And even our most fundamental, buy and hold decisions could still use taking a look at the open interest out there!!!
Let's face it, as Kraken, coinbase, nexo, bittrex and others have proved, ya can't offer staking nor lending in Merica!! BYDFi is renowned for having all the right licenses to stay open places like the USA. IF it could happen, BYDFi would do it!!
The rebranding got a huge boost by doing REALLY well in the recent prestigious Forbes ranking. Different sources claimed different results, so we took a direct look, link below. It's funny, ya know Forbes is not above pay for play, they have openly partnered (read, ad money coming in) with EToro ( another good boring CEX) as well of, of course, COIN, and Uphold. But of the partners, only Coinbase made Forbes' list!! So, good on Forbes!! And BYDFi!!!
The Forbes rating is weird. They gave BYDFi a 4.6 , second place in the "Best for Beginners" category, behind Gemini at 4.9 stars. Then they turned around and gave Gemini only 4.5 stars in the best overall category, behind Kraken at 4.6. WTAF? so clearly there is some jiggery going on. Exactly what did Forbes weigh differently, we would like to know, we suspect it is the advertising budget. The important takeaway is BYDFi is running strong with the big BIG dawgs in major international publications like Forbes. A huge credibility boost that was well earned by the upstart contender!!
So we plunge into BYDFi. We tried coming in on PVM's login, hope he gets referrals!! Hey there's a bunch of Welcome Rewards, that's cool to keep us going forward. Bam we give up ID for a mystery box!! Pow we turn on Google Authenticator, always a great idea.
Zap turn on an anti-phishing award, hey if they think it's a good idea, we do too! But here we hit a bump
TLDR: well, ok, we would agree to agree, but where the eff IS the perpetual account agreement!! ?? oh well we were just WAITING for an excuse to call for help!! HELP!!!!! oh ok that's good we feel better a nice chat makes everything better
So, a necessary step anyway, off to the help chat people! TLDR: the chat bot was annoying for first timers. But once past the bot, which was about three seconds, the help desk was prompt and helpful!! TLDR: so we signed up for a perpetual account.
Looks like there is a bug bounty for constructive criticism, so we hit it! TLDR: well worth a try! We gotta circle back and ask for $$ for typos!! Hey it's great that BYDFi asked!!
Next, deposit some funds!! OK why not!! We look at all the fiat options, like they always look, pretty bleak, highish fees. The conservative boring way to do this is waiting for direct bank transfers to go thru. We could not find that option. That's not BYDFi's fault it's how it has to be to keep the KYC light n lively. it's often that way. For credit/debit cards, like always and everywhere he vig is tough for small amounts. BYDFI has an impressive choice of card servers, well integrated. This is a really nice feature because relative percent fees will vary across providers depending on the amount sent. Since the vendors offer different interfaces, one of the initial screens is a bit deceptive but it is all clear at the end and you can still back out & switch. Here's Banxa first promising 80 USDT for $80
TLDR: BANX says pay 80 get 80 but then the fine print: pay 70 get 63, which is about par.
So skip that reward, let's wing in some crypto to crypto! Done, very clean & straightforward.
We have now cleared the low hanging fruit rewards!TLDR: now to the real ones!!
Fortunately, BYDFi has demo portfolio functions, we will be hitting that great help desk to find them. We promise to do our first options trade (not done by algo) and the technicals look yummy!! We believe in the options market basically being fairly priced. BUT we HAVE A DREAM. Yes, a dream we have held near our heart for some time now.
A dream we will build on BYDF!!! Have y'all seen Fetch.ai's altcoin? ALL it ever DOES is hammer up & freaking down. Here look: TLDR: Lookit that luscious, tempting volatility in terms of option trades, mmmmm yummy !!
Our dream is soon BYDFi will add FET to the system. And when they do, we will go 3x long on the way up and short the living CHIT outta it once it hits 50 cents again!! YEEE HAW baby!! With our iron discipline. And we won't just go double down on BTC and go long options as well as spot, no sir!!
Oh OH OH YESSSSSS!! we found FET thar she blows!!!
YES baby YES BYDFi has Fetch AI just like they should!! & along with the awesome 400 other coins they have, just like we KNEW THEY WOULD!!
Hey isn't it gorgeous to watch the technology roll in marching ON!!! All of these tools would have only been on the BEST trader's desks just a short time ago!! And visibility into other's trades, social trading, was just a guessing game and whisper conversations! & now here they are for us. And FET coin!! ar ar ar !!!
Yeea in that spirit of completeness, here is our referral code!! open account here baby!!! ATTENTION!!!! PLEASE HELP!!!
if entering just the code, it's 2GPnbx in the long form. https://www.bydfi.com/en-US/account/register?ru=2GPnbx
Well, mighty Watch Army, we are outta time, Igor is about to lock the doors!! Will keep y'all posted about BYDFi!!
Peace out,
Love
Dave