When Igor announced the #TradeWithBityard writing competition I was a bit suspicious about the platform as usually all are roughly the same, with similar layouts and options. My first impression, and later the exploration of the platform, made me change my prejudgment. The website is shiny and fresh, and the interface looks very friendly. After inspecting the front page I know all the essential stuff about Bityard, and the unique selling points.
What is Bityard ?
Founded in 2019, Bityard is a a Singapore-based margin trading platform focusing on cryptocurrency contracts with leverage. The process is simplified and easy to understand for beginners, and the engine is one of the fastest in the world, matching 1 million transactions per second. Bityard is fully regulated and compliant with international laws, and has x100 leverage for Bitcoin (BTC), x80 leverage for Ethereum (ETH) and great rates for all the other available cryptocurrencies. Over 100,000 users, from over 150 countries, are trading with Bityard, taking advantage of a platform with multinational licenses, top leverage, low trading fees and easy deposit system. And now pay attention to this picture, and I don't want to highlight the 50 USDT with the first deposit of 0.5 BTC or more but the range of available languages. Most platforms are available just in English and Chinese, not in 9 different languages.
New users can get a welcome bonus of up to 258 Tether (USDT) for completing various tasks. I must say that the "Complex Contracts > Simple Trade" catchphrase is grate! In 5 minutes after registering, I claimed 6 BYD and 4 USDT by setting up my nickname, binding my mobile to the account and completing a demo trade.
When I seen this little guy, my mind went to Street Fighter, the legendary Capcom arcade game launched in 1987. If you are as ancient as I am, you will agree that he resembles Ryu, and his fireball trade mark attacks. As a note for traders, only USDT, BTC, ETH, XRP, TRX and EOS deposit are supported but for withdrawals are no coin limitations.
Do you remember going to the Arcade to play Street Fighter, Terminator 3, NASCAR, Flight Simulator or Rambo? Do you remember how epic it was? I'am telling you that Bityard is an experience you will remember years from now.
The registration process is on fast forward, and it took me about 30 seconds to register my account. I quickly completed the KYC, which is mandatory, and ticked some boxes required to get full access to Bityard various tools and trading options. The commission rate for referrals is 5% and many goodies are hidden throughout the platform. Don't worry about playing Sherlock, because I will be your guide for today, presenting all the options that will make Bityard beat the competitors in the Exchanges Street Fight.
Exploring Bityard on Mobile!
You had a sneak peek of the website but we all know that the modern day individual is spending more time on his mobile phone, than in front of a desktop computer. This is the reason why I focused my Bityard exploration on the mobile version of the platform. The first task I've completed was the Welcome Bonus, where I got rewarded 4 USDT for 3 easy tasks.
#PVMihalache is the obvious choice of nickname, cause I have a brand to promote. One bonus USDT was added in my account after confirming. One of the interesting facts I found about Bityard is the the exchange falls under four jurisdictions, the American Money Services Businesses, the Singaporean Accounting and Corporate Regulatory Authority (ACRA), the MTR of Estonia for the European Union and the Australia’s AUSTRAC. This is an extra reason to trust this platform, because the majority of exchanges will fall under one jurisdiction, which will regulate the activity.
The Demo Trade is a good way to learn your way around contracts, how to trade and how to benefit from trading contracts. But what are contracts and why Bityard focuses on them? The term of "contract" is given to a trading tool that will allow an investor to trade on the price movement of an asset, physical commodity, financial instrument or cryptocurrency, at a predetermined date and price.
The contract trading is a way of gaining profit from the volatile market. This method is faster than holding assets, but more risky. Anyone can chose to buy a crypto contract is he/she believes that the price will go up or sell a contract if he/she believes that the token value will decrease. The demo trading allow traders to familiarize with the platform. Bityard trading fee is 0.05% much lower than the industry average and no spread is added to the customer's profit. The traders can easily select the Contract market from the menu tab. Please remember the first rule of investing... only use disposable money that you can afford to lose. This is not financial advise!
Bityard offers a leveraged trading option in derivatives, in an user friendly layout. Traders can easily access the Derivatives market from the menu tab and chose from Crude Oil, Gold, Gas, Nasdaq and many more.
The Daily Mining is a way to get BYD, a platform token offered by Bityard. This looks like a prospector game, and users gen gets small amounts of crypto from this mountain landscape, which probably is a picture from Mordor.
The collected amount will be converted to USDT and transferred into the gift money balance. The amount of BYD will also grow. The gift money will be automatically deducted when placing an order or used to deduct trading fees.
In less than a week I accumulated 4 USDT Contract Reward, 0.93 USDT Contract Bonus and 11.25 BYD which I allocated to mining contract bonus USDT. The Contract Rewards can be used to deduct 20% of trading margin, while the Contract Bonus can be used to deduct trading fees.
Traders are able to select the crypto pairing and adjust the time intervals to one minute, five minutes, 15 minutes, 30 minutes, one hour, on day or a month. The charts are easy to read, providing real time updates of the current price, percentage of growth/decrease, and the 24-hours volume, providing a great aid for technical analysis. As you can see, I played with the Demo Trading and got a nice profit on buying Bitcoin contracts. The Demo account gives $100,000 for trading practice, and a good learning method without risks.
Gain by copying experience traders
Have you ever been pissed of when seeing someone's betslip with a huge win? Have you ever followed horse races and wonder how some can "guess" the winning horse from 40 options? Bityard created "Copy Trade, a system that allows new traders to benefit from the experience and knowledge of successful traders. The contract trading allows investors to profit in both bear and bull markets but the risk is high, and the financial commitment must match the knowledge. The Copy Trade System creates an unique opportunity to sucker punch the lack of experience out of contract trading.
The Copy Trade function makes trading easier, allowing users to find professional traders and mimic the strategies. When copying someone's strategy, the traders will lead the whole trading process for the users who copy them. Bityard makes available the trader history data, which will be reviewed and analyzed by before he/she get listed and copied. This method ensures that the traders in the system are qualified for other users to follow their investment strategies. I copied the trades of this guy just because he has a 66.86% profit rate and 117 trade days. This numbers made 938 people to follow him and his trade pattern.
With the copy trade system, users can copy any trader and get full advantage of the fallow mode. The selected amount will be used as a fraction of the principal order, and as well, the profit will be in the same ratio as the investment.
RoadMap and expansion
Bityard has completed many partnerships in 2020, and constantly aims to innovate mining, trading and users involvement. This approached will providethe best product and services for customers, and will lead a growth of the crypto industry. The RoadMap splits in three clear directions:
- The development of a network containing security providers, mining projects and funding providers.1.Establish a forum for the issuance of securities, mine high-quality projects worldwide, assist in project funding and provide higher returns on investment for customers.
- The creation of an independent trading platform powered by BYD, which will target third party wallets to provide services to Bityard users.
- Create the Bityard Charity Foundation, which will promote block-chain welfare benefits make the world a better place.
Competition: Predict when BTC will hit $20,000 and win 888 USDT
Seen this one in one of my friends post and I am adding it in here hoping someone I know will have the correct prediction. Bityard users can have three predictions on when Bitcoin will hit $20,000 to win 888 USDT! Only those completing the KYC and achieving a minimum transaction volume of 100 USDT are eligible to participate in the event. It looks like the trading completed in demo mode counts for the transaction volume. The prediction competition will run until the 31st of December, at 23:59. If Bitcoin price doesn’t reach $20,000 before the deadline, all entries will be voided. The winners, if any, will receive the reward sin their Bityard accounts. My predictions are random dates but the odds be forever in my favour!
Do you remember the OKEx trial by combat, and all the failures of the OKEx account? Well, Bityard will kick OKEx ass using only one hand, and definitely without using any special moves. Bityard is so complete and gives a high flexibility to the traders.
Contact Bityard and Customer Support
Contact us page last update was 7 months ago but in all fairness the support received through live chat is very good and I was connected instantly to a real operator, no waiting, no silly robots trying to guess the user's issues. Please note the different emails for Customer Support and Business Department, which means that the issues are not mixed together, increasing the efficiency of support and feedback. It is stated that emails are generally responded to in 24 hours. For urgent need to contact Bityard, users are directed to the LiveChat customer support.
I joined the Live Chat to see how quick I get an answer. As 9 AM in UK is 5 PM in Singapore, I was expecting a long wait but to my surprise, an operator joined in less than a minute. I asked about BYD and got a quick and polite answer. Bonus points for this well run live chat!
Speaking about support and human interaction, I even received an email from Sal, my personal account manager at Bityard. This guy can help me with all the questions I might have, but with such a good live chat option, I don't see the point off sending an email and waiting for an answer.
Users can earn up to 60% of commissions on all trading fees as a Business Partner perk. The affiliate program offers 1:1 assistance from the business department and real time settlement of commission and excellent statistics. After achieving 10 referrals, the perks will last forever, and when an user will surpass 100 referrals, will be upgraded to a diamond KOL.
Considering all the above pros and no real disadvantage, I consider Bityard a complete platform that offers a multitude of tools and offers to their customers. Bityard will easily win 1 v 1 duels with the competitors, therefore I declare Bityard the winner of 2020 Trading Platforms Street Fight!
Links and referrals
Amazon author page: PV Mihalache