The first time I opened the BitYard interface I was caught by surprise.
Instantly I was drawn in by the clear simplicity, this is something you don't find on every exchange. Many exchanges fail in this regard and the user interface can be intimidating for some who are not familiar with derivatives and contract trading.
Bityard is an exchange for everyone regardless of their skill level. BitYard was launched in 2019 and is based out of Singapore. They hold numerous licences from several countries including the U.S. There is no KYC for opening an account as a trader.
The BYD is BitYards native token that can be used in house. One of the coolest things about BitYard is something they feature called "copy trading" this is one if the key things that stand out next to the friendly interface. Copy trading allows you to do just what it says, copy trades. This is done by choosing from a list if traders and mimicking their market movements. The copy page list several listed traders available to copy or follow. This page shows the success rate and their strategy in terms of long term, short term and radical.
I know from experience that the shorter term trades carry a bit more risk but generally a better ROI. This is where these listed traders excell. The listed traders percentage of success is shown next to their profile. Another pro to BitYard is that anyone can become a listed trader IF they meet the standards. This involves a KYC and a 500 USDT deposit after meeting the requirements.
On the "copy trade" page you can browse the listed traders and follow. After selecting a trader you will turn on "switch" and set the copy trade method/amount and save it. The methods and risk indicators can be modified to your liking. Using this feature doesn't carry any additional costs which I thought was nice. I am currently following 2 different traders to get a better feel of the whole process. However, I do use the demo on a regular basis to make mock trades. This of course is another great feature of BitYard that will let you test your skill without losing any real assets.
One of the reasons BitYard is a great way to trade is because regardless of the direction of the market you are able to leverage contracts up or down. Spot trading is good if the market is in an upward trend BitYard captures both markets.
By copying a trader you don't have to manually open or close a trade. The key thing here is to make sure that the trader you are copying has high skill and a good track record. BitYard reviews all the traders before they can become a "listed trader" ensuring they are qualified to copy.
BitYard at the moment doesn't accept fiat from the U.S. However, BTC, USDT, ETH, TRX, XRP, EOS and HT are accepted. The fees are some of the lowest you will find on any exchange and are as follows:
Min/max leverage : 10x-100x
Min/max margin : 5 USDT - 20,000 USDT
Leverage - 0.05%
Margin - 0.045% with an overnight fee at 0.05% and a $2 or equivalent withdraw fee.
BitYard is also offering nice bonuses for new accounts.
Summary: BitYard is a great platform to learn the contract and leverage game. The key things to remember are the simplicity of the user interface and the demo trading. The " copy trading" puts the icing on the cake. Also, there is a button that takes you directly to Trading View which is a nice touch. BitYard no doubt offers a great trading experience.