Bityard Review—Complex Contracts, Simple Trading

By Divya Bhatia
Published June 20, 2020 Updated January 21, 2021

Bityard Review—Complex Contracts, Simple Trading

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Whether you like to trade bitcoin or altcoins, you can use an incredibly vast number of crypto contract exchanges. There are so many that spotting the right, affordable, simple to use website can be somewhat of a challenge.

But here comes Bityard, a fast-rising crypto contracts platform geared to simplify the trading process of newbies. It is free to join, works on mobile devices, and has the endorsement of Thai champion Buakaw Banchamek.

To provide a glimpse, here’s what Bityard is all about:

  • Beginner-friendly crypto contracts trading
  • Daily BYD coins—helps lower trading fees
  • Affiliate Program—up to 60% commissions
  • Contracts trading Knowledgebase
  • Low opening and closing fees
  • Up to 100X leverage

Bityard Overview

Launched April this year, Bityard is a relatively new crypto contracts exchange website. It’s located in Singapore and licensed by the Singapore Accounting and Corporate Regulatory Authority (ACRA). It also features a license from Australia’s AUSTRAC.

In Europe, the company holds a license from the Estonian forex brokers regulator, MTR. Across the Atlantic, Bityard is regulated by the Financial Crimes Enforcement Network (FinCEN).

These licenses provide proof that Bityard is a valid business that can be trusted to offer crypto trading. It uses a secure mobile-responsive website to deliver its services. But that’s not all Bityard is known for.

Bityard Trading—A Simplified User Experience

When you think about it, many bitcoin exchange websites aren’t designed for beginners. They target professionals and agencies. Bitmex is a prime example. It is one of the most popular trading platforms out there, but it targets experienced traders through these services: indices, futures, auto-deleveraging, load shedding, and margins.

When you’re a new trader, you don’t want to jump into indices, cross margins, automated leveraging, or perpetual contracts. Instead, you want a simple interface that lets you trade Bitcoin and Litecoin using a currency you understand.

That’s where Bityard comes into play. The Singapore-based platform uses USDT—a stable coin tied to fiat currencies—as its base currency. That means your $10 is equivalent to 10 USDT. If you want to trade $1000 to Ethereum, all you need is to convert them to USDT and then complete your transaction.

Copy trade feature

Are you a starting trader, want to trade and don’t have the time to follow the market or do you want a profitable strategy from the best traders? Bityard’s Copy Trade feature offers you an easy way to trade on the exchange by following and replicating the strategies employed by top expert crypto traders on the platform.

Bityard.com Copy Trade feature allows you to replicate top traders on the exchange. (Source: Bityard.com)

The Copy Trade feature, launched in 2020, offers you a complete list of top traders – ranked on performance – offering over 160% profits in the last month. The platform also allows you to search for a customizable trading strategy to follow including the style, profit rate and period of trading.

“Copy trading allows you to directly copy and invest in another traders strategies. If a trader uses 60% of their portfolio funds to buy Bitcoin, your portfolio will automatically rebalance to copy the trade.”

Head over to Bityard Copy Trade to start earning profits from top traders’ strategies!

Spot trading feature

If you do not want to trade ‘riskier’ crypto derivatives such as margin, swaps, futures or options on Bityard, the exchange provides a Spot Trading market. The Bityard Spot Trading market is supported by Binance, the largest crypto exchange, as the main liquidity provider. This proves the exchange is well-funded with deep, liquid markets hence preventing slippage and order book failures.

Bityard.com Spot Trade feature (Source: Bityard.com)

The exchange provides over 50+ crypto pairs on its spot market including BTC, ETH, ADA, LTC, and decentralized finance (DeFi) tokens such as Compound (COMP), BAND, LINK, KNC, UNI, YFI and MKR among others. Users can set limit or market orders on their spot trades with a complete history of the orders placed and completed trades available on the “Order History” and “Trades History” tabs respectively.

How to Trade on Bityard

  1. Get started by Registering an Account

Visit Bityard.com and click “Get Started” to create an account. Provide a valid email address, set a password, and complete a simple captcha image. A code will then be sent to your email or phone number. Enter it, and you’ll be logged into your account instantly.

  1. Deposit Crypto

Next up is to fund your trading account. You can use seven cryptocurrencies to deposit: USDT, Bitcoin, Ripple, EOS, TRX, Ethereum, or Huobi token. Being the platform’s base currency, USDT is the best currency to use for deposits. Note: the minimum deposit is 15 USDT or 0.002BTC.

  1. Trade—Straightforward Interface

Bityard’s trading interface expresses the company’s mission precisely. It’s a straightforward “buy and sell” market price. If you want to buy Ethereum, select ETH/USDT from the left altcoin panel.

Bityard will then show you the latest price of 1 ETH in USD Tether. Cue, that’s the same price in US dollars. Under the buying and selling interface, adjust the amount of Ethereum you want to buy or sell.

  1. Adjust leverage—up to 100X

For Ethereum, leverage is capped at 80X. For BTC, you can magnify your trades 100X. Other altcoins, like Bitcoin Cash, the leverage is set at 50X maximum. In other words, you need to check each crypto’s maximum trading advantage before you complete your trade.

Also, check the trading fee for each transaction. It’s calculated in USD and displayed under your trading slip.

Advanced Trading Features

Although Bityard is designed to suit novice traders, it also provides trading features like overnight trading and stop loss, take profit. What’s more, there’s a customizable trading graph with crosshairs, candlesticks, bars, and night-time light adjustment.

In other words, Bityard provides the ease of use competitors like Bitmex lack but also rivals them in advanced trading features. That means it’s an excellent platform to learn how to trade and use it once you become a seasoned trader.

Bityard has an in-house token that can help you lower transaction fees by up to 10%. You receive up to 16BYD tokens after you register an account and activate it. To earn more tokens, visit the website’s promotion page.

Up to 60% Affiliate Commissions

Bityard has one of the most generous affiliate programs in the industry. It pays out up to 60% in referral commissions. The program is divided into tiers such that new marketers earn 40% and increase their rates if they refer more people. The payment is made in BYD tokens, which can then be exchanged to USDT.

Customer Support

In the spirit of “Customers Are Everything,” Bityard provides reliable supports through email, [email protected]. But you can also find answers to Frequently Asked Questions or contact the platform through Twitter, Facebook, LinkedIn, and other social networks.

For more information, read the beginner’s guide or contract’s guide published on Bityard’s website. You’ll learn how to navigate the trading platform, what contracts trading is all about, and how to do it correctly.

Summary

Bityard is a crypto contracts trading website based in Singapore. It’s brand new, having launched April this year, but has all the rudiments of a great exchange. For starters, it’s regulated in four jurisdictions: Singapore, Estonia, Australia, and the US.

When it comes to trading, Bityard is customized to suit novice traders. People who want to trade easily, using a language they understand. That’s the reason it uses USDT as a base currency for exchanging other coins.

It’s fast, provides low fees, and has a series of tools that can improve the trading experience of both new and advanced traders.

■ Bityard Telegram Group: https://t.me/BityardEnglish

■ Twitter: https://twitter.com/Bityardofficial

■ Facebook: https://www.facebook.com/Bityardofficial/

■ Linkedin: https://www.linkedin.com/in/bityard/

■ Youtube: https://www.youtube.com/c/BityardOfficial/

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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Divya Bhatia
28 Articles
Divya Bhatia from Computer science background is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Reach out to her at [email protected]