Here’s What it Takes to BUIDL Your Dream with BYDFi, A Review
As crypto adoption increases, more use cases, and opportunities emerge. Some ways to harness the opportunities are buying and selling crypto assets, staking assets on reliable platforms, trading to gain from price fluctuations, or even mining the assets using the Proof of Work mechanism.
But to explore these opportunities, you must do so on the right trading platform. BYDFi comes as a crypto trading platform with lots of benefits for users. The platform has become a one-stop shop for most investors through a wide range of products and services.
What is BYDFi?
BYDFI is a crypto trading platform with advanced trading features. It provides a suitable crypto playing ground for beginners and professional traders via a user-friendly interface. It maintains two forms of trading platforms, classic and advanced options, with trading charts and other capacities.
The platform, formerly known as BitYard, was launched in 2020 and renamed to BYDFi in January 2023. It offers various products and services such as spot trading, lite contract trading, leverage tokens, copy trading, and derivatives trading.
BYDFi creates an interactive platform through its traders, project teams, copiers, media, etc. Also, it incentivizes users with random crypto assets for completing specific tasks on the platform. Some tasks include completing Know Your Customer registration or account funding via different deposit options.
Few Notable BYDFi Features
Here are some of the features BYDFi as a crypto exchange.
Getting Started
The account opening or registration on the BYDFi platform is effortless and fast. The process takes just a few minutes to complete without any stress on the customer. You must input your email address and mobile phone number to sign up for an online account.
Also, you will select a payment option, a credit card, or a bank transfer option. When the account is open, you will transfer any supported crypto tokens to it from any crypto wallet. Funding your account enables you to start trading on the platform.
However, before withdrawing amounts in excess of 0.2 BTC/day from your BYDFi account, you must complete the KYC registration.
Supporting a Wide Range of Crypto Tokens
BYDFi offers more than 400 cryptocurrencies to investors and traders on its platforms. Some of the available crypto assets on the platform include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Polygon (MATIC), Polkadot (DOT), Dogecoin (DOGE), and others.
Fiat Currency Works Too
BYDFI is known for its flexibility in fiat deposits, supporting over 100 fiat currencies. It allows users, especially newbies, to deposit with fiat currencies. Deposit methods could be with bank transfers, debit, or credit cards. Also, it collaborates with other payment processors like Transak, BANXA, Mercuryo, Coinify, and others.
Secure and Regulatory Compliant
Security is one of the main priorities for BYDFi. The crypto exchange takes regulator security audits and stress tests. It stores users’ funds in offline cold custody wallets to ensure adequate security. In possessions of US and Canada MSB Dual License, BYDFi’s operations are designed to comply with the regulatory standards of the USA and Canada.
What’s BYDFi Gonna Charge?
When it comes to fees, BYDFi charges far lower than most competitors. Depending on the crypto type, it charges 0.1% to 0.3% for spot trades. The fee for crypto conversion is between 0.1% to 0.5%.
Spot Trading
BYDFi is prominent with its spot trading feature for users. It offers over 400 spot trading pairs and relatively lower spot fees than most competitors. Some of the major crypto assets available for spot trades include BTC, ETH, DOGE, XRP, and other altcoins.
The table before compares BYDFi Spot Trades with other crypto exchanges.
| Exchange | BYDFi | Coinbase | Kraken | Crypto.com |
| Spot Fees | 0.1% | 1% | 0.2% | 0.075% |
| Spot Pairs | 400+ | 200+ | 200+ | 200+ |
| XRP Spot | √ | √ | √ | √ |
| DOGE Spot | √ | √ | √ | √ |
| SHIB Spot | √ | √ | √ | √ |
| TRX Spot | √ | x | √ | x |
| TON Spot | √ | x | x | x |
| Derivatives | √ | x | √ | √ |
| Copy Trading | √ | x | x | x |
| Free Demo Trading | √ | x | √ | |
| Deposit and Withdraw without KYC | √ | x | x | √ |
| Trade without KYC | √ | x | x | x |
| 24/7 Customer Support | √ | x | √ | √ |
Leveraged Tokens
The platform provides leveraged tokens for its users to maximize their profits with little or no associated risks of liquidation. Also, users enjoy flexibility in trading strategies since each leveraged token has 3x long and 3x short options. Some available leveraged tokens on the platform include BTC, DOT, ETH, BNB, ADA, XRP, and others.
Copy Trading
BYDFi provides copy trading features with copy masters that could easily trade for you. Also, the copy trading feature is a helpful tool for beginners to learn crypto technical analysis by copying professional traders. Also, it helps the newbies to reduce potential losses in the trade as they initiate the trade patterns of experts.
Demo Trading
The BYDFi includes a demo account for all customers with 100k USDT tokens to practice and master the trading patterns without losing their real funds. The demo account functions with real-time trading conditions to help users sharpen their trading skills and strategies before engaging real funds.
Customer Support
BYDFi maintains 24/7 customer support through email and live charts.
Email: cs@bydfi.com
Live Chat: BYDFI Online Customer Support
