BYDFi, formerly known as BitYard, is a one-stop trading platform for investors that supports most fiat currencies offering tons of cryptocurrencies and trading pairs. The BYDFi site is user-friendly and offers a wide variety of useful features that helps separate them from other exchanges. They feature two different exchanges, classic and advanced, which help both new and veteran traders alike along with the ability to covert different cryptos with a single click. BYDFi has four main products: Spot, Coin-M, USDT-M, and Lite Contracts which are futures contracts with no leverage.
I like that BYDFi offers a demo account so that you can practice trades on their trading platform, which is easy to use. Offerings include spot trading, advanced trading, copy trading, and cryptocurrency derivatives. As an investor based in the United States, I was pleased to find out that BYDFi is both licensed and registered to operate as a Money Services Business (MSB) in the US. Don't worry, they also operate in more than 150 countries so you are likely covered no matter where you are based.
If you want a diversified cryptocurrency portfolio, BYDFi is a great choice for you with over 400 coins/tokens to choose from which isn't always the case, especially in the US. If you want to utilize leverage, BYDFi is an outstanding choice offering 150x leverage far outpacing the typical 100-125x maximum leverage for perpetual contracts in the US. This allows traders to be able to maximize their crypto returns with less capital required.
Two other aspects that help distinguish BYDFi from other exchanges are its high levels of security and world-class customer service via chat and email.
One unique feature is BYDFi's social trading platform called the copy trading module. This feature lets users copy other users' trades and rewards those who are followed by earning free crypto linked to the number of "followers" one has. Want even more free crypto for using BYDFi? The exchange offers a generous affiliate program.
BYDFi Basics
- Website = https://www.bydfi.com/en-US/account/register?ru=294hR6 (referral link)
- HQ = Singapore
- Founded = 4/1/2020 (Happy 3rd Anniversary)
- Minimum Deposit = 10 USDC
- Requirements = Computer (Windows or Mac) or Smartphone (Apple or Google)
- Customer Support = 24/7 via Live Chat, Email ([email protected]), FAQ, & Help Center Support
Available Cryptocurrencies
BYDFi offers over 400 cryptocurrencies and 600 trading pairs on their exchange including BTC, ETH, 1INCH, AAVE, AMP, AVAX, BAT, BCH, BNB, BUSD, CAKE, CRO, DAO, DOGE, DOT, GRT, JASMY, LINK, MATIC, NEAR, SAND, SHIB, XRP, UNI and many more...
Getting Starting
Opening an account on BYDFi is pretty straightforward. From the home page just enter your email address and hit the yellow "Get Started" button. You will receive a verification code and have 90 seconds to enter that along with a password. On mobile, you can receive an SMS verification code if you prefer. You can start depositing funds to your account, however, you must verify your trading account as a security feature.
Once your account is up and running after a few minutes you can use the "Buy Crypto" link to purchase crypto using a variety of easy methods including credit (Visa/Mastercard) and debit cards, bank account transfers, crypto-friendly payment systems, or your Google Pay/Apple Pay accounts.
Platform Fees
BYDFi does not charge deposit fees but does charge a flat fee for withdrawals to cover any transaction costs incurred depending on the network used. The trading fees are simple and transparent, varying based on what product you are using. The transaction fee for spot trading pairs is between 0.1% and 0.3% for both maker and taker which is very reasonable.
Rewards, Rewards, Rewards...
If you like rewards, you are going to like BYDFi. New users get a Mystery Box once they complete their KYC process which contains either crypto or site coupons. Interested in linking 2-factor authentication to your account? That will snag you 2 USDT in the form of their Google Authenticator Reward. You can double that USDT by grabbing their Anti-Phishing Code Reward after setting up the code. If that isn't enough USDT, get two more through their Join Community Reward by joining one of their Twitter, Telegram, Instagram, YouTube, or LinkedIn channels (links below).
As you progress the rewards continue to pile up with their Advanced Reward based on deposit levels:
- 10 USDT Perpetual Bonus on 1,000 USDT Deposit
- 30 USDT Perpetual Bonus on 3,000 USDT Deposit
- 50 USDT Perpetual Bonus on 10,000 USDT Deposit
- 200 USDT Perpetual Bonus on 20,000 USDT Deposit
- 300 USDT Perpetual Bonus on 30,000 USDT Deposit
- 700 USDT Perpetual Bonus on 50,000 USDT Deposit
- 1,500 USDT Perpetual Bonus on 100,000 USDT Deposit
And it doesn't stop there as many other reward programs exist on the platform with welcome rewards listed here.
Social Media Channels
Conclusion
If you are looking for a one-stop spot and derivatives exchange platform that offers tons of cryptocurrencies and trading pairs with excellent customer service please consider BYDFi. You can earn welcome bonuses worth up to $2,888 and even more through their multi-level affiliate program. BYDFi works on both Windows and Mac if you prefer computers or on Google or Apple smartphones and the exchange is available in most countries supporting over 50 currencies via their easy ramp-on process. While the platform launched over three years ago on April 1st, this exchange is no joke so give BYDFi a look!
