Cryptocurrency Exchange

Bityard Exchange Review – The world’s leading cryptocurrency contracts exchange

Overview

Legal NameBityard Exchange
HeadquartersSingapore
OwnerBityard Blockchain Foundation 
Year Founded2019
Exchange TypeCentralized
Trading FeesMaker: 0.05%/ Taker: 0.05%
Deposit MethodsCredit card, Cryptocurrency
Supported CryptosBitcoin (BTC), Ethereum (ETH), Ripple (XRP), Tether (USDT) EOS Coin (EOS) and more
FiatVietnamese Dong and Indonesian Rupiah
Customer Service Email, Phone
Trading Options Spot Trading, Margin Trading

Since the rise of cryptocurrencies, there have been a number of exchange platforms rising up. Each of these exchanges has its reviews which must be understood before entrusting the security of your funds to these exchanges.

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One of the most popular exchanges out there right now is Bityard Exchange

The following article will evaluate Bityard Exchange, providing a full review of their platform and other aspects. Let us look into this detailed Bityard Exchangereview now,

What is Bityard Exchange? 

Bityard is an exchange that was established in 2019 and is based in Singapore. They are registered as Bityard Blockchain Foundation limited. They are also one of the few leveraged cryptocurrency exchanges that have regulatory licenses. These include licenses in the USA, Australia, Estonia, and Singapore.

Since they launched last year they have expanded their offering to over 150 countries around the world. They have translated their website into 8 different languages in order to cater to this expanded client base.

Bityard focuses on crypto derivatives and supports eight different languages: English, Russian, Simplified Chinese, Traditional Chinese, Vietnamese, Korean, Japanese, and Indonesian.

Bityard Features

  1.  User Interface: Bityard exhibits a straightforward, smooth interface and operational panel for its users. It certainly provides lesser data crammed per screen along with a bright mode and dark mode toggle.
  2. Currencies supported: There is support for deposits in fiat and other mainstream digital currencies on the Bityard exchange. It also supports some of the fiat currencies such as Vietnamese Dong, Indonesian Rupiah, and the Chinese Yuan.
  3. Customer support: There seem to be dedicated to customer support environments available on Bityard. It stretches over a multitude of contact options right from email and telegram to online customer support. There is also an automated chat function available.
  4.  Mobile Support: This platform is not only available from your desktop, but you can now also access it via your mobile. The App is available on both iOS and Android in both the I store as well as Google Play.
  5.  Leveraged Trading: Bityard also offers leveraged trading on its platform. Leverage or Margin trading allows traders to invest in financial assets without buying and keeping the underlying asset. You can get as much as 100x leverage on this platform.

Bityard Fees and Limits

Bityard charges its users fairly low fees, even for transactions as small as 5 USDT to as large as 20,000 USDT, with a mere 0.05% rate. It also allows a leverage slab between 10x to 100x.

The transaction fees are low and there is an option to deduct mining fees to reduce it further. The withdrawals are only possible in USDT. The withdrawal fee is 2 USDT per withdrawal. Bityard also offers a maximum withdrawal limit of a whopping 100k USDT.

Bityard Supported Currencies

The cryptocurrencies supported by Bityard exchange can be listed as below:

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

The supported FIAT currencies by Bityard exchange include the following:

  • Vietnamese Dong
  • Indonesian Rupiah

Bityard Mobile App

The Bityard mobile app has pretty neat functionality like being able to pull up a chart and monitor your positions as well as one-touch order features. The App is available on both iOS and Android in both the iTunes store as well as Google Play.

Bityard-Mobile-App

How to register on Bityard? 

How to recover the Bityard password? 

If you forget your login password, you can click the “Forgot Password?” option on the login page, follow the instructions to enter the email or mobile phone verification code, and thus you can reset the password.

recover-Bityard-password

How to deposit on Bityard?

  1. Step 1:

    Go to the “My Assets” page and then select “Deposit”.

  2. Step 2:

    Now confirm the currency you want to deposit.

  3. Step 3:

    Select the desired currency in the “Currency” option.

  4. Step 4:

    The deposit address and QR code will be displayed on the right side, Then you can deposit the currency to this address.

  5. Step 5:

    The cryptocurrency deposit requires network node confirmation. Different currencies require different confirmation times. The confirmation time is generally 10 minutes to 60 minutes.

How to withdraw on Bityard?

  1. Step 1:

    Go to the “My Assets” page and then select “Withdrawal”.

  2. Step 2:

    Select the USDT chain name, which currently is the only supported currency.

  3. Step 3:

    Now add “withdrawal address”, “amount” and the “fund password”.

  4. Step 4:

    Then enter the “verification code” from Email.

  5. Step 5:

    Further, then click “confirm” to complete the withdrawal.

How to buy cryptocurrencies on Bityard? 

  1. Step 1:

    Go to the “Trade” after login, or select the cryptocurrency and enter the “Trade” option.

  2. Step 2:

    Now select the “market or limit” option

  3. Step 3:

    Now click on the “Buy/Long” option

  4. Step 4:

    Select leverage and enter the marging the “Trade”.

  5. Step 5:

    you can adjust “Take Profit Ratio” or “Stop Loss Ratio” and choose “overnight” in settings.

  6. Step 6:

    Then click the “Buy” button and then confirm the order. buy-cryptocurrencies-on-Bityard

How to sell cryptocurrencies on Bityard? 

  1. Step 1:

    Go to the “Trade” after login, or select the cryptocurrency and enter the “Trade” option.

  2. Step 2:

    Now select the “market or limit” option

  3. Step 3:

    Now click on the “Sell/Short” option

  4. Step 4:

    Select leverage and enter the marging the “Trade”.

  5. Step 5:

    you can adjust “Take Profit Ratio” or “Stop Loss Ratio” and choose “overnight” in settings.

  6. Step 6:

    Then click the “Sell” button and then confirm the order. sell-cryptocurrencies-Bityard

Bityard Pros and Cons

Pros

  • The user-friendly and concise interface
  • The maximum withdrawal amount is USDT100,000
  • Supports the trading of mainstream cryptos and OTC.
  • Transaction fees are just 0.05% and there is an option to deduct mining fees to reduce it further.

Cons

  • Traders are only permitted to withdraw USDT.
  • A limited number of coins are supported
  • Eliminates any option for full anonymity

Conclusion

In summary, this is a great leveraged exchange that is making complicated instruments simple to use for traders of all skill levels. It provides a trading experience with no slippage and liquidations. It is a pretty secure exchange given that they have licenses from 4 different regulators. They also have some advanced coin management protocols and risk management policies.

Hence if you are looking for a beginner-friendly leveraged exchange with decent asset coverage and top-notch support, Then the Bityard exchange should definitely be considered.

Recent Updates

  • On May 12, 2020, Announcement on the launch of Bityard Bonus Wallet and Gift Money Wallet
  • On July 20, 2020, Bityard announced on the launching of new derivative products
  • On Aug 12, 2020, Bityard launches the new derivatives trading pairs.
  • On Aug 15, 2020, Ethereum network transfer fees for ERC20/ OMNI withdrawal fees were changed. 

Bityard FAQ’s

Bityard - 8.2

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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