Bityard Review 2020

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Overview

Bityard is one of the world’s well-known and leading cryptocurrency contracts exchanges. Bityard is headquartered in Singapore and offers easy, fast, and safe, cryptocurrency asset trading services in over 150 countries. This broker is regulated by the American Money Services Businesses, Singaporean accounting and Corporate Regulatory Authority(ACRA) and the MTR of Estonia for the European Union. Bityard also operates in Southeast Asia and caters to the digital asset market concerning government-backed blockchain technologies.

Bityard Review – Overview about the PlatformBityard Review – Overview about the Platform

What is Bityard?

  • Bityard was established in the year 2019 in Singapore, which is considered as Asian Technology Capital. Bityard has a reputation of being world-leading, and well-known crypto contracts exchange and its business philosophy are a “complex contracts simple trade”. It aims to simplify the complex trading experience for its users by offering several trading tools for their benefit.
  • Bityard brand concept is “Bityard = Simple“, and their concept is “Bityard is best for novices” for their customers. Further, this exchange offers easy to use interface, and the trader does not have any problems or barriers to enter this platform, and also, it offers competitive fees for its customers.
  • One of the major advantages of this platform is that the traders can place the trades that can be as low as 5 USDT or that can be as high as 20,000 USDT, accompanied by a 0.05% interest rate in the trading industry. The trader should know that the higher the risk, the higher will be the reward. It also offers leverage starting from 5x-100x, which is considered one of the advantageous features offered to its clients.
  • Bityard offers simple, secure, and digital contract transaction services, which is very fast for its traders. Recently it had acquired a brand ambassador, Buakaw Banchamek, a Thai boxing champion to promote its services. It is one of the exceptional ideas where no other trading platform has a brand ambassador to promote its products. The main aim of acquiring a brand ambassador is to attract traders from their home country and several other regions.

Bityard Reviews – Why Choose Us?Bityard Reviews – Why Choose Us?

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Bityard General Features

Some of the worth mentioning features of Bityard are discussed below –

  • Bityard follows its concept of “Complex contracts simple trade” philosophy, and its main objective is to bring a simplified trading experience to its traders.
  • Some of the products offered by this broker are leveraged trading instruments on various cryptocurrencies. Compared to other brokers like BitMEX, Bityard offers more simple tools, and their unique contract offerings help the trader place the trades without much stress.
  • Opening an account with Bityard is simple and easy; the trader needs only to register with an email address or mobile phone number. They can be registered within 30 seconds to become a customer.
  • Presently, this broker supports major digital currencies so that the user can use it as an asset. Also, the Indonesia Rupiah (IDR), Vietnamese Dong, and the Renminbi are supported by this broker. Bityard has plans to add several fiat currencies shortly.
  • Compared with other contracts exchange, which is very difficult to navigate and requires the traders to be familiar with several features to use the platform, Bityard user interface and its mobile apps are designed in such a way that it is user friendly to its traders.
  • Depositing funds in the trader’s account is very easy, and this broker accepts trading with 16 different coins.
  • One of the most advantageous features of Bityard is it is considered one of the very few leveraged cryptocurrency exchanges regulated by authorities, and it holds regulatory licenses. These licenses are from Australia, the USA, Singapore, and Estonia.
  • Bityard offers its services in more than 150 countries even though it was launched last year. Further, their website has been translated into 8 various languages to help its clients from different parts of the world. It also offers a system that allows the transferring of funds among superiors and subordinates that are facilitated by the agents.
  • This broker offers its support when the user is investing and trading in cryptocurrencies. This platform supports trading in cryptocurrencies and OTC. By offering the concept of “safe, easy, and fast “it makes sure that it delivers as per their concept. Several trading platforms do not support and do not allow new traders to trade in the cryptocurrency market. Considering this, the broker offers a trading platform that is easy to use and to navigate even for a new trader.

Bityard Review – Trading PlatformBityard Review – Trading Platform

Bityard Regulation

As we are already aware that, very few regulated exchanges fall under one or two jurisdictions. But Bityard falls under 4 jurisdictions which shows its regulatory status, where the traders can use it without any worries. For traders who are looking for an easy and simple to use contract exchange platform, Bityard stands first in offering its services to its traders. The following regulatory authorities regulate this broker –

  • Australia’s AUSTRAC
  • The American Money Services Businesses
  • The MTR of Estonia for the European Union
  • Singaporean Accounting and Corporate Regulatory Authority (ACRA)

Bityard Reviews – Regulation and LicensingBityard Reviews – Regulation and Licensing

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Additional unique features of the platform

Bityard has its global presence, and it is regulated by top tier regulators and has its reach in various countries around the world. Let us discuss a few additional and unique features offered by the platform –

  • This broker supports trading in cryptocurrencies and OTC (over-the-counter)
  • This broker offers KYC authentication for the safety of the traders.
  • It requests multiple offline signatures
  • Offers cold storage of assets
  • This broker comes with a full refund warranty
  • As a part of promotional campaigns and affiliate programs, this broker offers free coins for its users
  • It offers a mobile app which is compatible with iOS and Android devices
  • Its risk management features include stop-loss and take profit potentialities
  • The transaction fees of this platform have just 0.05%, and it also offers an option to detect mining fees for reducing it further.
  • This broker offers a demo account which helps the traders to familiarize themselves with the platform.

Advantages offered by Bityard

Let us discuss a few advantages offered by Bityard –

  • Bityard brand concept is “Bityard = Simple”, and this platform offers beginner-friendly interface and tools for contract trading. This permits the traders the ability to trade with leverage, even though they do not have any previous experience in trading. Moreover, it allows the traders to generate income by way of the daily mining program.
  • Bityard allows the traders the maximum withdrawal of USDT 100,000, which is considered a higher amount than its competitors. For traders who are looking for a wide choice of assets, this platform offers 16 asset options, when compared to 8 options offered by its competitors.
  • Even though there are various crypto derivatives online trading platforms available in the market, they offer advanced tools for experienced traders, and their user interface and operations are very complicated for new traders. As we have already suggested, Bityard’s user interface is designed in such a way that it is simple and easy to use for new traders. Besides, it has not added so many functions that might overpower the new traders.
  • It offers seven deposit options than any other contract exchange. It offers OTC services for traders for buying USDT with very low trading fees, which apply to institutions and new users.
  • Furthermore, it takes the trader’s funds’ security very seriously by employing several safety measures such as KYC for deposit only, multiple offline signatures, anonymous trades, real-time risk audits, cold storage, complete refund warranty, and several more.
  • This broker offers exhaustive promotion and client acquisition strategies like for beginner offer 20% deduction of the trading margin, and some coupon is also available for first deposit.

Bityard Review - AdvantagesBityard Review – Advantages

BYD – The Platform Coin

  • One of the special features offered by the exchange when compared with other derivative platforms is that it offers its customers feasibility to receive BYD the platform token, offered on their daily mining page along with several other cryptocurrencies.
  • BYD, the platform’s native token can be compared with BNB of Binance, plays a very important role in the Bityard ecosystem, and it is also anticipated to be listed on several important exchanges in the near future, which shows that BYD has great potential.
  • Currently, this native token can be used to pay some of the trading fees in Bityard, which also gives the traders a discount. Furthermore, the total volume of the BYD token is 210 million, of which 10.24 million has been allocated for the mining program. The traders of Bityard receive 6 BYD when they activate their account.

Comparison between Bityard and other trading platforms –

Platform BitMEX Bybit Deribit Bityard
Headquarters Seychelles Singapore Panama Singapore
License Securities Dealer License Financial Services Commission MTR AUSTRAC, ACRA, MTR, FinCEN
Transaction fee 0.075% 0.075% 0.075% 0.05% (The mining reward can be deducted by another 10%)
Fiat deposit No No No Yes
Supported deposit currency Only 1 BTC 5 BTC, ETH, EOS, XRP, USDT 2 BTC, ETH 7 BTC, ETH, XRP, USDT, TRX, HT, LINK
Minimum Margin 1 USDT 5 USDT 0.1 BTC / 1 ETH 5.00 USDT
No. Of Assets Options 8 4 2 16
Demo mode Yes Yes Yes Yes
Forced liquidation Yes No No No
Max. withdrawal None 10 BTC None with KYC 100,000 USDT
KYC No No Withdrawals > 1BTC KYC for deposit only
Leverage 1-100x 1-100x 1-100x 5x-100x
Customer Support Email, Telegram Email, Online customer Email Email, Telegram, Online customer
Brand Ambassadors None None None Buakaw Banchamek

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Signup Process

  • Signing up on the platform is very easy, and it does not take more than 30 seconds. Moreover, no fiat currency is used on the platform, and hence the stable coin USDT is used as the main currency for the trades. The trader can use the below given seven digital currencies for the deposits such as BTC, XRP, ETH, TRX, USDT, LINK, and HT, which is considered as high when compared to several other crypto contract exchanges.
  • Bityard platform is available in 8 various languages such as English, simplified Chinese, Russian, Traditional Chinese, Korean, Vietnamese, Indonesian, and Japanese, clearly targeting the Asian customers that are based on the languages they offer for its customers.
  • For signing up on the trading platform, the trader needs only an email address or a mobile phone number; with this, they can be registered in the platform within 30 seconds.
  • The user needs to go to the registration page given on the website, and 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 very easy and stands out when compared to other cryptocurrency exchanges that require several amounts of information and a verification process. This platform helps the traders to start trading their first Bitcoin contracts in seconds.

Cryptocurrency Contract Trading

  • When the user has added the cryptocurrency as a deposit and cleared, they can check out the incredibly intuitive user interface and experience the seamless Bityard trading experience.
  • Bityard allegedly claims that it offers the fastest trading engine in the trading industry, which matches 1 million transactions per second. As a new trader, they can choose among 5x and 100x leverage, offering the traders the potential to multiply their profits. A bit of caution, higher leverage might also lead to high potential losses if the market situation is not favorable.
  • Bityard trading platform’s pricing data comes from the external source. This platform uses an averaging price and Kline weighted average approach from several major exchanges such as Binance, Huobi, and OKEx.

Advanced Trading Tools

  • By offering professional-grade TradingView tools and charts integration, this broker enables the traders to analyze their trades over several screens with accuracy by deploying and plotting technical analysis trend lines, viewing across several detailed timeframes, and scouting long positions.
  • Moreover, this broker also offers various layout switch features that permit the user to change the exchange background color when they are trading in the night or in the day and vice versa. Besides, when the trader is trading Bitcoin with leverage or any other leading cryptocurrencies available for margin trading, it can be accomplished easily by using the interface’s margin tools.
  • Besides, Bityard offers leveraged cryptocurrency trading 24×7, which offers a significant advantage of zero-based spread fees and constant liquidity. If a trader is looking for Bitcoin contract trading, then they can utilize the advantages of leveraged trading products offered by this platform.

Trading Interface

  • The trading interface offered by the Bityard platform comes with fully packed features and functionalities and a good user interface. As we have already pointed out, Bityard = Simple, it makes sure that the platform is not too intimidating for the new users. Besides, it offers support for several technical indicator patterns and charting tools.
  • When you are looking for a cryptocurrency trading exchange, one of the factors is the platform’s trading fees. It is very important to check out the fees and familiarize them with the exchange to execute the trade and make profits.
  • This broker charges the traders very low fees even for those transactions that are the smallest, such as 5 USDT to as big as 20,000 USDT with a 0.05 percentage rate. It also offers leverage of 5x to 100x.
  • One of the most Advantageous features of Bityard is it offers a maximum withdrawal limit of 100K USDT, which is the same as BitMEX.

Fees

  • Bityard offers one-time transaction fees of 0.05% when a trade position is opened. Also, the mining reward will be deducted by another 10% if their specific conditions are met.
  • If the traders are used to the normal cryptocurrency exchanges where they charge maker and taker fees, these are not charged by the platform because there is no need for an order book, and provides its trader’s the much-needed liquidity.
  • When you are proceeding with margin and leveraged trading, you can obtain a loan from the exchange. Also, the traders need to pay an overnight fee. This broker does not charge any deposit fees, but you need to pay 2 USDT for withdrawals.

Payment Methods

This broker offers an excellent trading platform to support trading in cryptocurrencies by using contracts. Some of the cryptocurrencies supported for trading are BTC, USDT, XRP, ETH, TRX, HB, EOS, and BYD. Bityard trading platform permits the users to trade and invest in several cryptocurrencies, which are supported by Bityard or OTC. Traders who already have cryptocurrencies supported by the platform can transfer these to their wallets provided by the platform.

Pros and Cons

Let us see a few pros and cons of this trader –

Pros Cons
Bityard offers a simple and user-friendly interface Traders are allowed to withdraw only in USDT
It provides the fastest trading engine currently in the industry by offering 1 million transactions per second There is no fiat withdrawal.
Traders can deposit 7 major digital currencies
It has a KYC process for deposit.
Offers demo account for its traders
It offers 16 coins for trading currently.

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Offerings and Commissions

Bityard offers several offerings to the traders and helps them to earn free crypto coins. Some of them include trading bonuses, beginner rewards, and promotional video contests. Commission from affiliates program offers the traders up to 60% of the trading commissions that are earned through the affiliate program. The traders can find the referral link on the website’s affiliate page.

Benefits offered by Bityard

Let us see few benefits offered by Bityard –

  • This broker offers an advanced and easy to use trading platform for its users
  • One of the major benefits offered by this broker is it offers an affiliate program where 60% of the commission on the trading fees are offered through this program
  • It also provides traders with interactive technical charts to support trading and to enhance their portfolio. The interactive charts are available on the website trade page.
  • This broker offers a customizable layout for its traders and investors. Also, they can customize the charts to meet their trading requirements.
  • Bityard offers a dedicated help center, which allows the traders to learn the trade and to navigate the trading platform. In the FAQ section, there is a beginner’s guide, information, announcements, and various terms section. Additionally, there is also a video section offering traders with useful guides to trade efficiently.
  • One of the major benefits of this trading platform is that it offers a leverage of 5x to 100x for the traders looking to make more profits.
  • Bityard trading platform offers a mobile app for trading. This app is available on Google play store to be downloaded for those traders who want to trade on the go.
  • The platform offered by Bityard is very simple, and it can be used by new traders who do not have any experience in trading cryptocurrency.
  • This platform offers risk management capabilities to counteract market risks, which includes stop loss and take profit options.

Deposit & Withdrawal Methods

Deposits

Bityard supports the deposit and withdrawal of funds in cryptocurrencies. Bityard supports the following cryptocurrencies for deposits –

  • Bitcoin (BTC)
  • EOS (EOS)
  • Ethereum (ETH)
  • Huobi (HT)
  • Ripple (XRP)
  • Tether (USDT)
  • Tron (TRX)

Bityard traders in Indonesia, Vietnam, and mainland China support the deposit by using fiat currency. For those traders who are located outside of the above-mentioned geography, they need to purchase Bityard supported cryptocurrency to make a deposit. For those traders who already have Bityard supported currencies, they can also make a wallet to wallet transfer to transfer the cryptocurrencies. The trader needs to select the crypto wallet, which is listed on the wallets page, and they need to click the deposit option.

Withdrawals

For withdrawals, the investors and traders can withdraw USDT, and they can deposit their cryptocurrencies in Tether wallets. This broker does not support withdrawals of fiat currency for a developed market. For making a cryptocurrency withdrawal, the trader needs to locate the wallet from which they wish to withdraw the cryptocurrencies. The trader who is looking to withdraw anything other than USDT, they need to convert it before proceeding with the withdrawal.

Security

  • Bityard uses SSL technology and offers a high-level security environment for protecting investor assets and the trading platform.
  • For security reasons, Bityard requires its traders to have a pin set for making any withdrawal from the Bityard trading platform. Further, the trader needs to enter the pin every time to make a withdrawal.
  • Another most important feature is SMS authentication. The user needs to set an SMS authentication. They must enter the verification code if they want to make a withdrawal, reset passwords, or if they want to make any changes to their account security settings.
  • To set an email verification, the trader needs to enter the verification code, if they want to make withdrawals, to reset the passwords, or to make any changes for their account security settings.
  • The users can review login records, and these enhance the security settings and report for any unauthorized hacking and logins.

Wallets

This broker offers its users a compatible wallet for cryptocurrencies that are supported by the exchange. Besides, the users can easily navigate on the website to my assets page, to view the available wallets.

Affiliate Program

  • Bityard provides several ways for the trader to profit by trading on the platform. Using an affiliate system, the user can become a business partner on the exchange and can earn up to 60% of commissions on the trading fees generated by the people they have referred to the trading platform.
  • Furthermore, the affiliate system is very easy to use and transparent. The traders can make a profit by referring their friends to the platform.
  • One of the ways to make money on the trading platform is by receiving BYD, which is the native token issued by the Bityard platform, which plays a very important role in its system. Bityard has plans to list this BYD token in several exchanges shortly. This token has growth potential similar to the BNB token of Binance.
  • Bityard gets its pricing data from the three major spot trading exchanges, such as Binance, Huobi, and OKEx, to accurately enhance the market price. When compared to other platforms, this platform does not impose its spread to its traders.

KOL (Key Opinion Leader)

  • To compete with bigger exchanges in the cryptocurrency sector, Bityard offers a dedicated KOL (Key Opinion Leader) support program which is backed by a rewarding incentives framework.
  • This broker offers 40% commission to their KOL partners, which implies that KOLs receive a daily salary that is proportional to the number of users introduced by Bityard. Further, these invitation rewards can go up to 100 BYD per month.
  • KOLs can also earn 3 months of invitation bonus, and those who are qualified KOL by achieving standard trading volume in 3 months are rewarded with an additional bonus.
  • KOLs who recommend other KOL prospects to this platform are also rewarded with another profitable bonus.
  • Also, a daily payment is offered to those who have higher trading volumes from their reference, which can stretch up to 15 USDT daily.

Additionally, KOL offers 5 support plans –

  • Minimum 40% rebate
  • Daily salary for KOL
  • Every active user bonus in first 3 months
  • Bonus for upgrading to a qualified KOL
  • Bonus for a recommendation of KOL

Bityard Review – KOLBityard Review – KOL

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Demo Account

One of the most advantageous features offered by this platform is that it offers a demo account for its users. By using the demo account, the traders can learn about the trading platform about its features and functionalities without the risk of using real funds. Besides, this demo account is offered for free, and it does not take time to register an account, and the trader needs not to have to register a separate demo account for trading. They can switch between the accounts like a demo or the live account on a platform.

Mobile App

In case if you are not available on the desk and you want to trade on the go, then the mobile app can be used for this purpose. The mobile app offered by the Bityard platform has the same features as that of the desktop platform, and it offers great functionality, just like technical charts. The trader can monitor their positions, and it also offers one-touch order features for its traders. The mobile app of Bityard is available on both Android and IOS, and they can be downloaded from Google play store and iTunes store.

Types of Orders

The order form offered by the platform is very simple, and the traders can use the below-given order types for trading –

  • A market order can be placed on the platform where the order is placed exactly as per the market rate. It can also be considered as the latest price that is traded on the platform.
  • A limit order can be placed not on the market rate but on the trader’s price, which will be executed when the price reaches the target. This can be above the sell order or below the buy order.

Customer Support

  • Bityard offers dedicated customer support where the trader can contact them when they have issues or problems.
  • The traders can reach out for customer support through email, telegram, and online support.
  • By using the online support link, the traders can chat with the robot, or they can request to chat with the representative by simply clicking the support icon on the Bityard trading platform directly.
  • By offering dedicated customer support, Bityard offers its customers 24×7 online support, where the traders can contact them if they have any problems.

Wrap up

Bityard is considered a safe and secure platform that can be used for cryptocurrency contract trading, which can be used by new traders. This platform is easy to navigate, which permits the traders to trade on cryptocurrencies without using complicated features and functionalities. Any new trader who uses this exchange can find the platform as one of the best contracts trading platforms in the available market, and they can trade much easier by using leverage. Further, it offers several cryptocurrency pairs for its traders.

FAQ’s

1. What is Bityard?

Ans. Bityard can be explained as a cryptocurrency derivative exchange established in the year 2019, which is headquartered in Singapore. This platform follows “complex contracts simple trade” as its principle. This platform aims to make cryptocurrency derivatives trading, which is considered as complex trading as simple as possible for its traders by offering a simplified trading experience.

2. Is there any Bityard Mobile app?

Ans. Bityard offers a mobile app for its traders who want to trade on the go. The mobile app offers various functionalities, and it also offers the technical charts to monitor the trading positions and one-touch order features. The mobile app is available on Google play store and iTunes store so that the traders can download it and enhance their trading experience.

3. Is Bityard secure and trustworthy?

Ans. Bityard is a safe and secure online trading platform, and it is regulated by authorities and possesses four licenses. Furthermore, this trading platform is licensed and regulated by the AUSTRAC of Australia, the ACRA of Singapore, the MTR of Estonia, and the MSB of the United States by the Financial Crimes Enforcement Network.

4. Who is the Bityard Ambassador?

Ans. Several leading crypto exchanges do not have a brand ambassador to promote its trading platform and services, but Bityard has a brand ambassador to promote its trading platform. This platform has secured a partnership with one of the leading Thai boxing champions, Buakaw Banchamek, who is one of the finest athletes in Thailand.

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