Bityard Exchange – Bringing Simplicity To Crypto Contracts Trading

Exchange Reviews / 14.01.2021

Bityard is a fully regulated cryptocurrency derivatives trading platform. The exchange quickly earned notoriety as one of the world’s leading cryptocurrency contracts exchanges. This success comes from the developer’s desire to simplify leveraged contract trading. As part of this strategy, Bityard exchange features a straightforward, user-friendly platform that makes it easy for anyone to purchase contracts in a comfortable, fast, and safe manner.

Cryptocurrency Options

Notably, trading crypto options differs from trading coins directly. You don’t buy actual cryptos such as Bitcoin or Ethereum. Instead, you purchase contracts that are based on possible future price scenarios. Options are a powerful tool for advanced users. These contracts enable investors to trade on the price movements of an asset without actually holding the asset. Recently, Bityard expanded its product base to include both spot and derivatives trading. The move has helped the exchange broaden its user base and serve a wider community of crypto investors.

Contract Risks

There are some risks associated with this advanced trading method worth mentioning. For example, most contract traders utilize some form of leverage. Margin and leveraged trading are advanced methods that increase your possible ROI potential. However, they also significantly increase your risk exposure. For these reasons, leveraged trading options are best suited for experienced traders.

Benefits of The Bityard Exchange

For those of you who are ready to start trading options, Bityard offers the most beginner-friendly tools in the market. The platform is ideal for new users because of its low entry levels, reduced fees, and 24/7 online support. Here are some of the benefits Bityard users enjoy: 

  • User-Friendly Interface

Bityard has one of the most simplistic options trading windows in the market. The portal allows you to monitor all of your investments with ease. In this way, Bityard’s interface helps novice traders access the crypto contract world without confusion. Users can easily monitor market exposure and positions using Bityard’s interface. The portal includes real-time risk auditing and risk management tools to further your strategy.

  • Efficient

In terms of trading efficiency, Bityard dominates the sector. The platform features the fastest trading engine in the industry. This advanced protocol can match around 1 million transactions per second.

  • Flexibility

Bityard is a flexible, crypto contracts ecosystem. The network simplifies investing via complex contract offerings. These unique protocols help to onboard new investors into the sector because all the technical aspects of trading are handled on the backend. The platform also supports a nice variety of fiat deposits. For example, the network supports RMB (China), Vietnamese Dong, Indonesian Rupiah.

  • Demo Trade

New users can practice using the demo mode. This feature is an excellent way for you to get familiar with the nuances of trading crypto derivatives. Best of all, the demo mode utilizes real price charts and volumes. As such, you gain experience without having to commit to real assets.

  • Short Crypto

Another advantage for Bityard users is the ability to short crypto markets. Shorting is an advanced trading method that allows users to bet against cryptocurrency prices. When you short, you take out a leveraged position on an asset. Then you sell all your holdings. Once the price drops, you repurchase the asset, which strengthens your position. Lastly, you repay the loan and keep the profits.

  • Low Fees

Bityard has a low fee structure compared to its competitors. The platform offers a 0.05% transaction fee. This rate is lower than the current industry standard charged by major competitors such as Binance, Coinbase, and Deribit.

  • Regulated

Bityard is a fully regulated cryptocurrency derivatives exchange. This platform operates with regulatory licenses in Singapore, Estonia, Australia, and the USA. Specifically, the exchange is regulated and licensed under Singapore’s ACRA, USA’s MSB from the Financial Crimes Enforcement Network. Notably, the MSB belongs to the United States Department of the Treasury, Estonia’s MTR, and Australia’s AUSTRA.

  • Global

Developers created Bityard to service an international community. The network is available in over 150 countries at this time. Additionally, the website is available in eight languages. You can trade crypto on Bityard in English, Russian, Simplified Chinese, Traditional Chinese, Vietnamese, Korean, Japanese, Indonesian, and Portuguese.

  • Security

Bityard takes security seriously. The network protects user funds from malicious actors via multiple offline cold wallets. Additionally, the website features a Secure Sockets Layer (SSL) encryption. As an extra step, you can set up your account withdrawals with 2FA protections.

How Does The Bityard Exchange Work?

Interestingly, Bityard does away with the traditional order book found on most exchanges today. Instead, the network introduces a proprietary matching engine that helps to avoid slippage. This engine is also what makes the network so fast. 

  • Mobile App

You can trade crypto derivatives, copy trade with other investors, and trade contracts on the go using any Android or iOS smartphone. Impressively, the Bityard app offers all the website’s core trading functionalities in a clean mobile layout. Bityard is a pioneer in this department as there are not very many mobile options for crypto derivatives currently. 

  • Copy Trade

This year, Bityard introduced a copy trade feature. This system allows users to duplicate the trades of professionals. The system has a minimum requirement of 500 USDT to access this feature. This strategy helps new users earn a profit and learn trading strategies simultaneously. Best of all, the feature is available on both mobile and PC. 

  • Margin Trading

Bityard supports margin trading. Margin traders only make a small deposit and trade with a leveraged position. Margin trading requires you to put up some form of collateral.

  • Leverage

You can trade futures contracts at 100x leverage. Professional traders can maximize their ROIs using this system. However, new users should avoid trading at 100x leverage because you can lose your deposit quickly if the market turns sour on your strategy.

BYD Token

Bityard introduced an exchange token called BYD. This token operates as the primary token on the platform. Users can pay fees and participate in trading activities using these tokens. BYD trades receive lower fees. Users can even mine BYD tokens to earn extra rewards. 

History of The Bityard Exchange

BYD entered the market in 2019. This Singapore-based exchange is privately held. The primary office for Bityard is registered at Paya Lebar Square. 

How to Use The Bityard Exchange

Using Bityard is easy. You need to go to the website and hit register. The process only requires you to provide an email address or a phone number and a password. From there, you will need to complete KYC requirements. Notably, you receive a few beginner rewards, which appear as coupon credits towards fees for joining the network. 

Bityard – Trade Futures with Leverage

Bityard fills a valuable niche in the market. The exchange acts as a bridge between professional and intermediate traders seeking to enter the derivatives market. For this reason, the Bityard exchange is set to remain a valuable trading tool in the market for years to come. 

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.