Mastering Crypto Contract Trading on Bityard

Mastering Crypto Contract Trading on Bityard

By PVMihalache | Mind Puzzle | 29 Apr 2021


I had zero knowledge in contract trading before December 2020, when I came across Bityard. The P0x writing competition made me research the platform and I was quite impressed. I slowly started to do educational posts and articles about contract trading and few months later I am in a better place than December, learning fast the tricks of contract trading. I am still a big time HODLer but from time to time is nice to diversify things. 

Bityard is the world leading cryptocurrency derivatives exchange, fully regulated and compliant with international laws, with the main activity in cryptocurrency contracts with leverage and derivatives exchange. Operates with licenses from four different countries: The USA, Australia, Singapore, and Estonia. This are the Singapore’s ACRA (Accounting and Corporate Regulatory Authority), The American Money Services Businesses (MSBs), Estonia’s MTR (Register of Economic Activity) for the European Union, and the Australian Transaction Reports and Analysis Centre (AUSTRAC)

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Contract trading has a high level of risk compared to holding cryptocurrencies in a wallet. The contract trading is the method of trading that aims to gain profit from market volatility and the constant change in crypto prices. This method allow the user to forecast if the price of an asset will go up or down, involving leverage. The traders are not buying or selling the asset, only speculating the price and forecasting if will drop or raise. Is quicker than holding assets but the risk involved with contract trading is higher. Bityard has to different types of Contract Trading: Cryptocurrencies and Derivatives.

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The Contract trading is different from spot trading, because the trading instrument called contract allows the investor to trade on the price movement of the cryptocurrency, at a future date or price. It involves leverage and therefore the traders are not buying or selling the asset, only speculating on the price movement. With a trading fee set at 0.05%, Bityard has trading fees lower than the industry's average.

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The Crypto Contract layout makes it easier for traders to select crypto contracts and gain profit depending on the market. The available cryptocurrencies are ATOM, Bitcoin Cash (BCH), Bitcoin (BTC), Polkadot (DOT), EOS, Ethereum (ETH), Ethereum Classic (ETC), Litecoin (LTC), Tron (TRX) and Ripple (XRP).

Bitcoin, created in 2018 by Satoshi Nakamoto, is the first and top cryptocurrency in history. It set the all time high at $41940, on the 8th of January 2021. Ethereum is the most used decentralized platform for money and dApps. Tron Protocol, the creation of Justin Sun, is one of the largest blockchain based operating systems in the world. Polkadot is a network protocol that works as a chain bridge, allowing data and tokens be transferred across blockchains.  

The above list of cryptocurrencies offers a wide range of contracts for traders. Users can choose between relatively stable tokens, such as EOS and Tron (TRX), or volatile ones, such as Ethereum (ETH), Polkadot (DOT) or Bitcoin (BTC).The mix range of cryptocurrencies will offer contract options to fit every profile. 

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In the below scenario, I am forecasting that the Bitcoin price will go up. Selecting “Buy” will open the contract, at the current value of $34199.35. For this contract, I am using Demo Mode. I set the leverage at 40x, using 10,000 USDT for this contract. The 0.05% fee was added to the order, raising the contract value to 10,400 USDT.

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Once confirmed, the Bitcoin contract will appear in the bottom of the dashboard, under the “Positions” tab. The contract details will include the name of the cryptocurrency, the leverage, the chosen margin, opening price and opening time. The contract will close automatically if the price will raise or drop at the set value, or it can be closed by the user at any time. Closing the contract manually is a method that can bring profit when the value is close to the set value and the price stops moving. Closing the contract will bring a smaller profit but will reduce time wasting and stress due to volatility.

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The Trade History will show closed contracts. The Bitcoin contract with 40x leverage was created at the value of $34,202 and was closed at $33,341. As a result of price depreciation, the contract and USDT were lost.1836422eb99f64ea9cd0f200db731f8fd27f86edf801a1e075af109464818e5e.jpg

Why Bityard is different?

Bityard engine is the fastest on the market, processing up to 1 million transactions per second. The exchange is available for both mobile (Android & IOS) and web, and has the lowest transaction fees. The website interface is available in nine different languages with customer support 24/7 via email and live chat. 

I also like the active Twitter account and the constant promotions, competitions and giveaways. Bityard constantly evolves, adding new pairs that are trending. 

To celebrate Bityard launches 6 New ...

 

The Bityard Library 

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Refreshing my Bityard knowledge – Platform Review

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Mastering Derivatives Contract Trading on Bityard

Bityard Contract Trading: Bitcoin (BTC) and Ethereum (ETH)

How to use Bitcoin Cash (BCH) for Contract Trading on Bityard

How to trade ATOM Contract Trading on Bityard

Bityard Youtube Guides (Customers testimonial)

Bityard : Spot trading at one million transactions per second

Residual Income:

PVMihalache Amazon Books

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The fountains: PipeFlare ZCashGlobalHive ZCash  & Get.ZEN

Publishing bundle: Publish0xReadCashLBRY & Presearch

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PVMihalache
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Self-Published Author, Football Referee, Football Coach, Early Crypto Investor, Personal Trainer, Well-Being Guru, Open-Minded, Traveller, Social Media Enthusiast, and many more...


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