What is BitYard (BYDFi)?
There are tons of cryptocurrency Exchanges operating across the world, allowing investors to buy and sell cryptocurrencies. One of them is BitYard, a centralized crypto Exchange launched in November 2019 located in Singapore. It offers users access to tons of Altcoins and trading services, including Copy Trading, Derivative trading and more.
According to official site documentation, BitYard aims to provide a platform for crypto investors that is not only secure but also offers a straightforward easy-to-navigate smooth UI that is navigatable for both beginners and professional traders.
On January 5, 2023, BitYard was rebranded with BYDFi under the supervision of Michael Hung who is one of the co-founders of the platform currently serving as Chief Marketing Officer.
Where is BitYard (BYDFi) Located?
BitYard is a Cryptocurrency exchange that operates out of Singapore and is licensed and supervised by the Accounting and Corporate Regulatory Authority (ACRA) in addition to the Monetary Authority of Singapore (MAS).
Being a well-established center for finance and technology, Singapore’s legal environment for Cryptocurrencies is among the most forward-thinking and all-encompassing found anywhere in the world. As a consequence of this, BitYard is required to comply with stringent regulatory regulations, which adds an extra degree of protection and confidence for its users.
Who Created BitYard (BYDFi)?
BitYard rebranded as BYDFi, was co-founded by Michael Hung along with some other crypto enthusiasts. Since the launch of Exchange in 2019 Michael is associated with a platform as Chief Marketing Officer, however, information about other founding members has not been publicly disclosed by the company.
According to the LinkedIn BYDFI profile, it currently has 26 employees from different regions of the world.
Who Owns BitYard?
The exchange is owned and operated by BYDFi Fintech LTD a Seychelles company.
Since 2021, Coin-Labs.com has partnered with Bybit and is few of the highest-ranking of affiliate program contracts.
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How to’s of Bityard
In this review, we will explain how to buy crypto, how to sell crypto, and how to deposit and withdraw funds on BitYard.
How to Deposit in BitYard
Here are the steps to make a crypto deposit on BitYard:
- Go to the “My Assets” page on the BitYard website. Select the Cryptocurrency you want to deposit by clicking the “Deposit” icon next to it.
- Copy your BitYard wallet address or scan the QR code provided.
- Transfer the Cryptocurrency from your external wallet to your BitYard wallet address. Please note that there are individual minimum deposit amounts for each Cryptocurrency, so make sure you deposit at least the minimum amount.
- Once your deposit is confirmed, the Cryptocurrency will be added to your BitYard account balance, and you can use it to trade on the platform.
How to Purchase Bitcoin on BitYard
To purchase Bitcoin on Bityard, please follow these steps:
- Go to Bityard’s official website and click on the “Register” button to create an account. Log in to your account and select the “Fiat” option.
- Choose your preferred fiat currency and select Bitcoin as the Cryptocurrency you wish to purchase. Enter the amount of Bitcoin you want to buy and click on the “Buy” button.
- Bityard will display the available payment options. Choose your preferred payment method and complete the payment process.
- After completing the payment, Bityard will transfer the purchased Bitcoin to your wallet.
How to Buy Crypto on BitYard
Here are the steps to purchase Cryptocurrency on BitYard:
- Create an account on BitYard: You will need to sign up and complete the registration process, including verifying your email and phone number.
- Deposit funds: You can deposit funds into your account through various payment methods such as bank transfer, credit card, and Cryptocurrencies.
- Select a Cryptocurrency: Choose the specific Cryptocurrency you want to purchase on BitYard.
- Choose the type of trade: BitYard offers both spot and CFD crypto trading. You need to select the type of trade you want to make.
- Place an order: For a limit order, input the purchase price, select your margin, and then click “Buy”. You can also determine the amount of leverage you desire.
- Monitor your trades: Once you have placed your order, you can monitor your trades on the platform.
How to Buy Dogecoin on BitYard
If you are interested in buying Dogecoin on BitYard, the following steps can help guide you through the process:
- Create an account on BitYard’s website: To begin, you will need to create an account on BitYard’s website and complete the necessary KYC verification process.
- Deposit funds into your BitYard account: Once your account is set up and verified, you can deposit funds into it using one of the supported payment methods.
- Navigate to the trading platform: From there, navigate to the BitYard trading platform and search for Dogecoin, or enter its ticker symbol, DOGE.
- Choose the trading pair: Select the trading pair that you want to use to buy Dogecoin, such as DOGE/USDT.
- Enter the amount of Dogecoin you want to purchase: Enter the amount of DOGE that you want to buy and confirm the transaction.
- Wait for the transaction to be processed: After you have completed the transaction, you will need to wait for it to be processed. Once it is, your Dogecoin will appear in your BitYard wallet.
How to Sell on Bityard?
Here are the steps to sell on BitYard:
- Sign up for an account: You must sign up for a seller account on BitYard before you can begin selling on their marketplace. In order to register, you will need to submit information about yourself, including your name, email address, and phone number.
- Putting money into your account: BitYard accepts a number of different payment types, including wire transfers, credit cards, and electronic wallets. Choose the one that works best for you.
- Specify the Cryptocurrency you want to trade: When you have added funds to your account, go to the “Sell” tab and choose the Cryptocurrency you want to sell.
- Choose the Cryptocurrency: Choose the Cryptocurrency you want to sell and then set the selling price or accept the current market price. After you’re satisfied with the transaction details, your Bitcoin sale will be processed.
- Withdraw Money: To get your money out of BitYard, click the “Withdraw” button. The money may either be withdrawn in the Cryptocurrency you sold, or in fiat cash.
How to Earn Money on BitYard?
Trading, copy trading, mining, a referral program, and special offers are just a few of the ways that users may make money on BitYard. Let’s have a look at each option in detail.
- Trading: One of BitYard’s primary features is a trading platform where users may buy and sell various Cryptocurrencies and benefit from the price fluctuations of those Cryptocurrencies. Spot trading, leveraged trading, and other trading instruments are available to users.
- Copy Trading: BitYard’s copy trading tool lets you mimic the actions of the platform’s most profitable traders. Users may make money by mimicking the trades of these experts.
- Mining: BitYard’s mining feature allows users to earn up to 10 BYD ($0.6 USDT) daily. Gift funds will be converted from the user’s mining assets and deposited into their gift account.
- Referral Program: Users may earn incentives for recommending their friends to join BitYard via the platform’s referral program. Users may make money from the commissions provided by their referrals’ trading fees.
BitYard members may participate in a variety of bonus and promotion schemes to increase their trading earnings. In order to get benefits, users may take part in numerous competitions and promotions.
Is BitYard Legit?
According to the data we have examined, BitYard seems to be a reliable and safe Bitcoin trading site. The platform complies with legal requirements since it is governed in several jurisdictions. Users seem to be pleased with the site, as seen by the platform’s high rating and the abundance of favorable evaluations written by its user base.
Two of Singapore’s most trusted authorities, the Accounting and Corporate Regulatory Authority (ACRA) and the Monetary Authority of Singapore (MAS), oversee the exchange.
Is BitYard Exchange Available in the USA?
The BitYard website, as well as BitYard reviews from reliable sources, attest to the fact that the service is available in the United States of America and that it is regulated and licensed in many countries, including the United States of America, Singapore, Australia, and Estonia. Hence, anybody in the United States should be able to use BitYard for all of their crypto trading needs.
Bityard Customer Service
BitYard offers many channels of communication with its users, including email and real-time chat. Their site also has a thorough support center and frequently asked questions area. Clicking the yellow HELP button in the site’s footer allows customers to immediately begin chatting with an agent to have their questions answered.
BitYard makes use of social media sites like Facebook and LinkedIn to inform users and foster relationships with their audience.
What Coins does BitYard Support?
BYDFi support almost all of the major cryptocurrencies including Bitcoin (BTC), ChainLink, Curve DAO Token (CRV), Dogecoin (DOGE), EOS (EOS), Solana (SOL), Ripple (XRP), Tron Network (TRX), Tether (USDT) and many more.
Derivatives of Cryptocurrencies, including futures, options, and perpetual contracts, may also be traded on the platform. BitYard further allows traders to trade in foreign currency, indexes, and commodities.
Pros and Cons of BitYard
Pros👍
- User-friendly interface
- Low fees
- Fast transaction processing
- 24/7 customer support
- Wide range of trading services
Cons👎
- Limited coin offerings
- Limited payment methods
- Limited trading tools
BitYard (BYDFi) Review
Review and basic information of BitYard (BYDFi) are as follows.
| Crypto Exchange Basics | BitYard (BYDFi) |
|---|---|
| Official Name | BYDFi |
| Exchange Representative (Founder) | |
| Headquarters Location | |
| BitYard (BYDFi) Launch Date | 2020-04 |
| Number of Tradable Crypto Pairs | 422 Pairs |
| Weekly Visits | 351,740 Users |
| Overall Rating | ⭐ / 5.0 |
The rating result at the top is the result of Coin-Labs.com's overall evaluation of BitYard (BYDFi).
BitYard (BYDFi) was rated in seven categories: fees, diversity and quality of the services provided, security capabilities, etc.
BitYard (BYDFi) Fee 2024
The fees charged to you for transactions at BitYard (BYDFi) are as follows.
| Maker/Taker Fees | BitYard (BYDFi) Transaction Fees |
|---|---|
| Spot Maker Fee | 0.1% |
| Spot Taker Fee | 0.1% |
| Derivatives Maker Fee | 0.02% |
| Derivatives Taker Fee | 0.06% |
The fees shown in the table above are BitYard (BYDFi) transaction fees charged to a regular user.
BitYard (BYDFi) Trading Volume
Trading Volumes of BitYard (BYDFi) are as follows. (Based on CoinMarketCap 2024-10-12 14:41:22 data)
| Trading Volume Items | BitYard (BYDFi) Trading Volume |
|---|---|
| Daily Trading Volume (24h) | 26,872,351,529,146 KRW |
| Weekly Trading Volume (7d) | 228,190,701,913,426 KRW |
| Monthly Trading Volume (30d) | 736,134,518,069,846 KRW |
| Daily Volume Change (24h) | -12.47% |
| Weekly Volume Change (7d) | 0.75% |
| Monthly Volume Change (30d) | -15.32% |
Communicate with BitYard (BYDFi)
You can check exchange's messenger and SNS information in the table below.
| Types | URL |
|---|---|
| https://twitter.com/BYDFi | |
| 🎺 Messenger | https://t.me/BYDFiEnglish |
FAQs
Who founded BitYard (BYDFi) exchange?
BitYard (BYDFi) was founded in 2020 by .
Where is BitYard (BYDFi) located?
Currently, BitYard (BYDFi)'s headquarters is known to be located in the .
How many cryptocurrencies are tradable on BitYard (BYDFi)?
If you join BitYard (BYDFi), you can trade a total of 422 crypto pairs.
How much is BitYard (BYDFi) trading fee?
BitYard (BYDFi) has a spot maker fee of 0.1% and a taker fee of 0.1%. On the other hand, the maker fee for futures trading is 0.02% and the taker fee is 0.06%. Please note that these fees are for regular users, and the higher your membership level within BitYard (BYDFi), the lower the fees.
How much is BitYard (BYDFi) trading volume 24h?
BitYard (BYDFi)'s trading volume 24h is 26,872,351,529,146 KRW. Furthermore, the daily trading volume is showing a -12.47% change from the previous day.
How much is BitYard (BYDFi) weekly trading volume?
BitYard (BYDFi)'s weekly trading volume is 228,190,701,913,426 KRW, with a total of 351,740 users. Furthermore, BitYard (BYDFi)'s weekly trading volume is showing a change of 0.75% from the previous week.
How much is BitYard (BYDFi) monthly trading volume?
The monthly trading volume of BitYard (BYDFi) is 736,134,518,069,846 KRW. Furthermore, this month's trading volume is showing a change of -15.32% compared to the previous month.
