Bityard Review : Must read before creating account on exchange

When it comes to cryptocurrency, people are very much interested in knowing about it. Whether they want to invest in it or not they surely want to know about it. But after this year that is 2020, the number of people who just want to know about it is getting lower and the number of persons who want to invest in it is growing. People were slowly moving towards this industry but the investments by big market players have increased their speed. Companies like Tesla, Visa, MasterCard are investing their money in cryptocurrency, this only proves the potential of cryptocurrencies. Now, but many people are still there who want to invest in cryptocurrencies but have many confusions. And one of the biggest confusions that they have is in selecting an exchange. That is a genuine confusion because today there are at least 100 crypto exchanges in the world, so it is natural to be confused. On above that every crypto exchange has different fees, different features, etc. To eliminate that confusion we have written this article.

We will review one of the exchanges and help you in selecting an exchange. So, today we will review Bityard through this article.

Introduction

The exchange is based out of Singapore and is a well-known, famous crypto exchange in the world. Bityard offers an easy, secure, and fast crypto trading experience. It has trading services in 150 countries. It is regulated by the American Money Services Businesses, Singaporean accounting and Corporate Regulatory Authority (ACRA), and the MTR of Estonia for the European Union. The company is launched in the year 2019. Bityard works on a philosophy of “complex contracts simple trade”. The platforms’ main aim is to make the complex trade for the users into an easy one by providing trading tools. It has easy to use user-interface and there is no barrier in entering this exchange. Recently the company has signed Buakaw Banchamek, a Thai boxing champion as its brand ambassador who will promote its services.

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Features

• One of the biggest features of this platform is that the traders can place trades that can be as low as $5 or that can be as high as $20,000, on which they charge a 0.05% interest rate in the trading industry.
• Another feature of the company is that it also offers leverage starting from 5x-100x, to its clients.
• The process of opening an account with Bityard is simple and easy you just need to register with an email address or mobile number. People can be registered within 30 seconds to become a customer.
• Right now, the platform supports almost every major cryptocurrency and shortly they are also planning to support all the fiat currencies as well. Now, they support Indonesia Rupiah, Vietnamese Dong, and the Renminbi.
• It is very easy to use Bityard be it its website or its mobile app. Its user-interface is very easy to navigate.
• Depositing funds is very easy on this platform, they support around 16 coins.
• Bityard is considered one of the very few leveraged cryptocurrency exchanges that are regulated by authorities, and it holds regulatory licenses.
• Even though it is relatively new in the market, it has its services in more than 150 countries. And their website is available in 8 different languages that help their clients sitting in different parts of the world.
• It has KYC authentication for the safety of traders.

Regulation

Bityard comes under four regulators that prove its safety. And people also can trade on this platform without any fear. If you are searching for an easy and simple to use contract exchange platform then Bityard is the best option.  Australia’s AUSTRAC, The American Money Services Businesses, The MTR of Estonia for the European Union, Singaporean Accounting and Corporate Regulatory Authority (ACRA), were the regulators of Bityard.

Fees

The exchange charge a one-time transaction fee of 0.05% when the trade position is opened. And the mining reward will be deducted by 10% in addition. And if the traders are using any other normal cryptocurrency exchange then he would be sed to see charging maker and taker fees, but these are not charged by bityard because there is no need for an order book, and it also provides its trader’s the much-needed liquidity. If you are proceeding with margin and leveraged trading, you can get a loan from the exchange. But the traders need to pay an overnight fee. This exchange does not charge any deposit fees, but you need to pay $2 for withdrawals.

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Payment methods

This platform offers an excellent trading zone to support trading in cryptocurrencies by using contracts. Some of the cryptocurrencies supported by Bityard for trading are BTC, USDT, XRP, ETH, EOS, BYD, and many others. The exchanges trading platform permits the users to trade and invest in several cryptocurrencies, which are supported by Bityard or OTC. And also they allow their traders who already have cryptocurrencies supported that are supported by the platform can transfer these to their wallets that are provided by the platform.

Account opening process

• The process of signing up on the exchange is very easy, and it will not take more than 30 seconds to complete the signup. Since no normal currency is used on the platform so the stable coin is USDT that is used as the main currency for the trades. And the trader can use these seven digital currencies for the deposits BTC, XRP, ETH, TRX, USDT, LINK, and HT, which are considered as high as compared to several other crypto contract exchanges.
• As I mentioned earlier Bityard platform is available in 8 various languages that are English, Simplified Chinese, Russian, Traditional Chinese, Korean, Vietnamese, Indonesian, and Japanese.
•  The trader needs to have only an email address or a mobile phone number, for signing up on the exchange with this, they can be registered on the platform within 30 seconds.
• After that, the user needs to go to the registration page given on the website, and fill in all the details asked, once it is done, a personalized wallet is assigned, and they can start trading immediately.
• Among the various advantages offered by the platform, their simple registration process is one of the biggest advantages. It is very easy and stands out when compared to other cryptocurrency exchanges in which that require several amounts of information and a verification process. And this platform helps traders to start trading their first Bitcoin contracts in seconds.

Advantages

Now, let’s list some of the merits of this exchange.

1. Bityard offers the traders a withdrawal of up to $10000 that is higher than any other exchange. This exchange also offers 16 assets option to its users.
2. Its user-interface is very and easy to use especially for beginners and they also didn’t add too many things that end up confusing the beginners.
3. The exchange also offers seven different deposit options than any other contract exchange. It offers OTC services for traders for buying USDT and that with very low trading fees, which apply to institutions and new users.
4. Bityard takes security very seriously they have KYC mandatory for their users and also offer cold storage.
5. This cryptocurrency exchange offers exclusive promotion and client acquisition strategies like for new users they offer 20% deduction of the trading margin, and some coupon is also available for the first deposit.
6. It also has the fastest trading engine with 1 million transactions per second.

Disadvantages

Same as other exchanges this platform also has some demerits, now we will list them only.

1. You can withdraw only in U.S dollars, not any other currencies.
2. And there are no fiat withdrawals allowed.

So, this was our review for the exchange called Bityard, now it is suitable for you or not that completely depends on you. You have to think that what features and advantages you want in your crypto exchange and then according to that select an exchange.