In this article we will tell you below:
- BYDFI could be the most innovative alternative to Binance and Bybit.
- We found interesting functions within the futures markets and the interesting copy trade section.
- The exchange completes its third anniversary and it brings excellent surprises.
From our experience in the cryptocurrency market we have always seen a first difficulty: the confidence of investors when they are choosing an exchange to carry out their operations. However, experience has shown us that what users are most looking for is speed and flexibility. Terms that are exactly combined with the social policies of the BYDFI project.
It is understandable that currently and to the point where we are, the cryptocurrency market has grown exponentially, and statistical data shows that fewer people use physical money and are preferring more the digital medium to make their payments. That is why we saw some curiosities in the project and we want to tell them here.
What Added Value Does It Have?
According to banxa.com BYDFi is a cryptocurrency trading platform for global investors. By allowing traders, copiers, project teams, media, and other communities to interact and communicate, BYDFi creates a trading environment ideal for both beginners and professionals. It also simplifies cryptocurrency transactions and develops a distinctive trading platform.
In addition to the technical concept of the platform, we found its slogan "Build Your Dream Finance" interesting, which for us made a very strong emotional connection, because basically what we are always looking for as an investor is to be able to build our financial dreams within a reliable and friendly digital tool.
In tune, we see that the platform offers the basic services that an investor is looking for. From the most important markets to the opportunity to put copy trade. That is, to be able to create a community of traders who do not help us in our own operations.
The most notable thing is that the exchange seeks to be a regulated platform, with a good diversification of financial services, the best in the copy trade function and with ease of deposits and withdrawals. The latter with the vision of being fast, flexible and easy to use.
Another aspect to highlight is that we can carry out financial operations for the cryptocurrency market from any device, be it Windows, Iphone, Android or MAC OS, which tells us that it complies with the policies of being a multi-device platform. Highest factor searched by users today for a trading tool.
How To Start My Trade?
It is very simple to start trading the markets within the Exchange. Just follow the steps below:
Go to this link https://www.bydfi.com/en-US/account/register?ru=pFHsqe, Enter all the necessary and mandatory data and wait for the confirmation email to validate your account. If you already have an account, just log in on the corresponding page.
We did the exercise and a couple of minutes we had our account created and activated. The speed and ease of the interface makes each step one less obstacle to have our official account.
Something amazing about the platform is that it helps beginners with security steps and special account care. That is, the exchange itself offers a welcome program where you can earn up to $2,888 for completing some simple tasks based on some criteria that are important and recommended.
For security purposes, we always recommend reviewing the "account security" section and activating at least the "Google Authenticator" option and following the steps. In this way, you can further protect your investment funds from possible third-party attacks.
Another important step is to complete the security layer for spoofing, the one so boring for some KYC stands for "Know Your Customer". The support explains that the platform requires users to perform identity verification in order to comply with anti-money laundering regulations and ensure that the identity information submitted by users is true and effective. KYC verification process can ensure the legal compliance of user funds and reduce fraud and money laundering. BYDFi requires fiat deposit users to complete KYC authentication before initiating withdrawals.
As the last and less known step, it is necessary to make a deposit of cryptocurrencies or there is also the option to buy with a credit card in the respective interface.
Futures And Copy Trade Together
From the experience we have had in the cryptocurrency market since 2018, we saw how the community was influenced by certain trades that sent buy and sell suggestions. At that time, there was no such tool to automate this process.
The above fact can be understood as a very important added value. Important, because we really always need someone to guide us in our operations, and much more when they are operations within the derivative markets, where the risk is greater.
Another point in favor and looking at the derivative market, is that the exchange presents the most popular contracts to operate and with the cryptocurrencies considered to have a good trading volume.
Together with everything we have said, we see a lot of advantage in the union between the "copy trade" function and futures that the platform offers. Among all, it was what we liked the most as an added value that other exchanges do not see. To that is added that you can practice your operations with a demo account to do a trial and error test.
It is worth remembering that this article is not a guide on how to do things within the platform. Here we try to see the unique points of the platform and its main differences with other trading platforms. Therefore, we invite you to consult the frequently asked questions section, in case you have any questions about how to do things.
Let's Celebrate The Third Anniversary Together
On our part we say "happy anniversary BYDFi!" And we deeply believe that the best way to celebrate it together is by mentioning the article that Forbes used to rate the 10 best cryptocurrency exchanges and platforms in 2023. Among those, the new and improved BYDFi stood out.
Forbes notes that BYDFi is a good fit for investors interested in frequently trading cryptocurrencies, especially through more advanced trading. The exchange could be solid for both beginners and those looking for more advanced features.
Additionally, it says that that it is easy to use and its advanced trading capabilities are its standout feature. The exchange offers a platform for trading crypto derivatives, such as contracts for difference (CFDs) and leveraged tokens, as well as margin trading. Also, it says that BYDFi is one of the few exchanges that complies with financial industry regulations and holds licenses in Australia, Singapore and the U.S. Users who are interested in spot trading will enjoy the low trading fees and a decent selection of popular cryptocurrencies.
The interesting thing is that Forbes in this article does not highlight Binance among the best, which means that the competition between the platform that we are referencing in this article with others is seen from a lesser point of view. That got us thinking about the security of our accounts in terms of protection and reliability. Therefore, we believe that BYDfi will look to the future to continue among the best.
You can check all the campaigns that the company launched to celebrate its third anniversary at the following link https://support.bydfi.com/hc/en-us/articles/6643983192847--BYDFi-Celebrate-3rd-Anniversary-2023-4 -1-.
Final Considerations
We have seen that over the years, the cryptocurrency market has grown exponentially, and with it the demand for better digital trading tools. This point clarifies that with experience we see the difficulties of choosing a secure digital tool with a friendly interface and easy to use.
This article finds as a basis to learn about other options in addition to the ones we are currently using. However, it is important to recognize that in the world of cryptocurrencies there is no criterion that keeps us from "all the evils" that we can go through when investing.
The tool reviewed here we cannot say on a personal level that it is reliable or not, but we see additional features of others. That is why it should be noted that it is of great importance to any crypto investor that an exchange is not a portfolio, it is simply a tool to carry out financial operations in the short, medium and in parts in the long term.
In this order of ideas and as a review, that is why we made a brief review of the functions that we can consider as added value and that make this tool different from the others. In addition to the context, we want to add that we find speed in the interface and better accessibility to the main functions that each potential customer is looking for.
