One-stop crypto trading platform for individual investors, BYDFi provides professional, convenient, and innovative trading solutions to users globally. The platform offers spot trading for over 600 cryptocurrencies, perpetual contracts, spot investment, martingale, and spot/future grid at competitive rates with top-notch security.
BYDFi stands out from competitors by offering advanced crypto trading features like margin accounts and derivatives trading, all with relatively low fees. While trading complex crypto derivative contracts isn’t for beginners, BYDFi’s user-friendly platform makes the process more accessible.
The BYDFi offer
Recent years have seen the rise of blockchain-based technologies that incorporate cryptocurrencies into their systems. Despite the potential of cryptocurrencies, these products—from NFTs to Metaverses—have been met with mixed reviews. BYDFi offers an alternative future to this industry by allowing users to stake their claims and encouraging more expansive uses for digital currencies.
Launched in 2020 as BitYard, the company provided a democratised platform for traders, copiers, project teams, media, and other communities to interact and communicate, building an environment suitable for both beginners and professionals. After three years of operating, the company rebranded to BYDFi “BUIDL Your Dream Finance” in response to the changing encryption market. With this renewed vision, the company aims to elevate cryptocurrency trading and empower users to take control of their financial future while contributing to the sector’s growth.
They also offer a wide variety of trading features to users and options to choose from that suit their needs. /Compared to other trading platforms BYDFi stands out for its…
Security and Compliance
Security is a top priority for BYDFi while also prioritising regulatory compliance. The platform holds dual MSB licenses in the US and Canada and is a member of South Korea’s CODE VASP Alliance. This reflects its commitment to operating a legal and ergo safe system for beginners and experts.
The platform also adopts other security measures, such as cold storage, multi-party approval processes for transactions, segregated accounts to protect user funds, and more. These measures, in addition to strict whitelisting for transactions, add extra layers of protection against unauthorised withdrawals.
Diverse trading options and features
BYDFi provides an array of trading options. The platform supports spot trading for over 600 cryptocurrencies including Bitcoin, Ethereum, Ripple, Dogecoin, altcoins, and more. This spot grid trading, available for more than 100 trading pairs, enables users to automate buying and selling within a defined price range, using preset conditions, allowing them capitalise on market fluctuations for profit.
The platform also offers flexible leverage trading of up to 200x leverage. This sets it apart from other exchanges where the maximum leverage for perpetual futures is typically 100x or 125x.
Compared to other derivatives exchanges:
This wide selection allows users to explore various trading strategies and capitalise on market opportunities.
With its new perpetual trading upgrade traders now have the option to invest in potential gains. On BYDFi traders can use unrealised profits as a margin to open new positions without waiting for the current position to close. By reinvesting potential gains immediately, users can improve their funds and respond dynamically to volatile markets.
BYDFi features extend beyond basic trading, with products like perpetual futures, automated trading tools, and simulated trading. The copy trading feature is unique because it allows users to follow and replicate the trades of successful traders, especially for beginners. With a sign-up, users get a demo account with 100k USDT which further allows them to practice and refine their strategies without risking real funds especially if they’re inexperienced.
Low fees and user-friendly experience
BYDFi has a transparent and competitive fee structure that enables users to trade with minimal costs. Users can view transaction records, fees, and profit in real-time ensuring that they aren’t blindsided by hidden charges.
Users can trade with as little as $10 and new users get a generous welcome package worth 8,100 USDT. The platform’s demo account and copy trading features make it accessible to beginners, while experienced traders can rely on advanced trading tools and high-leverage options. This focus on affordability with a user-friendly interface and intuitive navigation makes BYDFi an attractive choice for novices and experienced cost-conscious traders.
BYDFi also supports multiple payment options, including credit cards, debit cards, and bank transfers, with flexible deposit methods and global multi-language support. The platform has partnerships with BANXA, Alchemy Pay, Transak, Mercuryo, and Coinify and supports over 100 fiat currencies.
No KYC needed for most functions
There is no need for KYC to get access to most functions on BYDFi (except for users in South Korea). To get started, simply prepare an email address or phone number to register. Then, you’ll receive a registration gift and can start earning rewards by completing simple tasks like setting up Google Two-Factor Authentication (2FA), configuring anti-phishing codes, and joining a BYDFI community.
Daily withdrawal limit, however, depends on the status of KYC verification. Unverified users can withdraw 1.5 BTC per day, whereas verified users have a limit of 6 BTC per day.
Final verdict
BYDFi has carved a niche in the competitive cryptocurrency exchange landscape by prioritising security, offering multiple trading options, and maintaining a low-fee structure. Its user-friendly platform, coupled with a demo account and copy trading, makes it accessible to beginners, while the advanced trading tools and high-leverage options cater to the needs of seasoned traders. BYDFi’s overall offerings make it a great option for traders seeking a reliable crypto exchange with diverse options.
BYDFi’s commitment to security, diverse range of trading options, low fees, and user-friendly experience, position it as a leader in the cryptocurrency exchange market, meeting the needs of both novice and experienced traders alike.
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