BYDFi Crypto Spot and Derivatives Exchange Advances Trading Experience for Beginners and Pros: Review

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Common cryptocurrency trading ecosystem BYDFi (formerly BitYard) combines the benefits of a spot and derivatives exchange platform. It also offers lucrative welcome bonuses and a generous affiliate program.

Since its launch in 2020, the platform has gained a fantastic reputation; the team is constantly adding new options to their trading and exchange toolsets. In this review, we will observe its core features and the most impressive opportunities it unlocks for traders.

BYDFi creates one-stop ecosystem for spot and derivatives trading, fiat-to-crypto conversion and more: Key Takeaways

Thanks to its intuitive interface, 24/7 support and feature-rich selection of crypto conversion instruments, BYDFi is gaining traction in various regions around the world.

• BYDFi is a multi-product cryptocurrency ecosystem with spot and derivative trading dashboards.
• BYDFi is designed to guarantee safe and fast conversion of cryptocurrencies (Bitcoin (BTC), stablecoins, altcoins, 600+ trading pairs in total) and global fiat currencies.
• BYDFi offers its customers up to 150x leverage for perpetual contracts and new types of contracts: leveraged tokens, lite contracts and so on.
• The copy trading module allows beginners to leverage the expertise of master traders.
• BYDFi introduced a welcome bonus (up to $2,888 in USDT) for new users; Also, its affiliate program is open to everyone.
• All products from the exchange are available to residents of the United States.

As such, BYDFi aims to be a one-stop cryptocurrency ecosystem for traders and investors with various deposits and Web3 strategies from around the world.

What are crypto derivatives?

Just like commodities, stocks and foreign exchange (FX) markets, crypto derivatives represent contracts for future prices of this or that asset. For example, Bitcoin (BTC) futures contracts on Bitcoin (BTC) price movements in either direction. With crypto derivatives, users can take advantage of volatility spikes in both bullish and bearish markets.

Trading crypto derivatives also allows exchange users to gain exposure to new asset classes without owning cryptocurrency. You don’t need to physically own Bitcoin (BTC) to start trading derivatives: you can set up a crypto wallet, store and manage private keys, connect your wallet to an exchange and so on.

Introducing BYDFi, all-in-one trading machine with spot and derivative pairs

BYDFi is a pioneering cryptocurrency trading platform. It is set to offer safe and comfortable trading for spot and derivative pairs across 400+ cryptocurrencies.

Spot and derivatives trading with BYDFi: Simple interface for many possibilities

Launched in 2020 as BitYard exchange, BYDFi (short for BUIDL Your Dream Finance) gained traction as a multi-product ecosystem for crypto investors, traders, entrepreneurs and enthusiasts. First, it is a convenient place and derivatives crypto exchange.

Picture of BYDFi

In the “Spot” section, users can easily exchange crypto between each other. BYDFi supports 400+ cryptocurrencies in the spot trading module. It works with crypto heavyweights Bitcoin (BTC), Ethereum (ETH) and XRP, meme coins Dogecoin (DOGE) and Shiba Inu (SHIB), trending metaverse coins Axie Infinity (AXS), Decentraland (MANA) and Smooth Love Potion (SLP), “China narrative” coins Coinflux (CFX) and Nervos Network (CKB).

To allow customers to quickly adjust their portfolios, BYDFi created “tabs” according to all red-hot narratives: GameFi coins, L2 coins, PoW coins, and so on. For maximum comfort, BYDFi offers classic, advanced and simple one-click interfaces for spot trading toolsets.

In the “Derivatives” segment, traders can try two main types of futures contracts: USDT-M perpetual contracts and COIN-M perpetual contracts. USDT-M is settled in US Dollar Tether (USDT), the largest USD-pegged stablecoin and the crypto-equivalent of the US Dollar. In contrast, COIN-M Perpetual Contracts are settled in underlying cryptocurrencies.

Up to 100 trading pairs are available in the USDT-M section, while BTCUSD, XRPUSD, ETHUSD and DOTUSD contracts are also available in the COIN-M section. All contracts available on BYDFi are “Perpetuals”: they do not have expiration dates, making trading more streamlined.

Picture of BYDFi

The Buy Crypto module introduces the easiest on-ramp for fiat transfers

To start trading cryptocurrencies, a BYDFi user should buy their first coins – usually crypto newbies start with Bitcoin (BTC), Ethereum (ETH) and US Dollar Tether (USDT). Buying cryptocurrencies with fiat is the easiest option here: traders do not need to risk while buying crypto at “over-the-counter” desks or through ATMs.

In the “Buy Crypto” module of BYDFi, users can buy crypto using credit/debit cards, bank transfers, crypto-friendly payment systems and even Google Pay/Apple Pay accounts.

Picture of BYDFi

Unlike many competitors, BYDFi enabled the purchase of dozens of cryptos with cards, from Bitcoin (BTC) and US Dollar Tether (USDT) to 1Inch (1INCH), Aave Finance (AAVE) and SushiSwap (SUSHI). It also accepts all major fiat currencies in the world, including US dollars, Euros, Australian dollars, UAE dirhams and Swiss francs.

To guarantee deep liquidity and seamless conversion experience in various jurisdictions, BYDFi partnered with four crypto-to-fiat conversion providers Mercuryo, Banxa, Transak and Coinify. They accept Visa, MasterCard, SEPA transfers, Google Pay and Apple Pay transactions. For some pairs, 0% fees are available: with Transak, for example, you can exchange 1 USD for 1 USDT (for up to 1500 USD equivalent) in 2-10 minutes.

To comply with international regulations, all dealers on BYDFi should pass “Know your customers” checks after registration.

New generation trading options: leveraged tokens, copy trading, lite contracts

In addition to classic instruments for spot and derivatives segments, BYDFi integrated a number of next-generation options designed to optimize the trading experience for novice and professional traders. BYDFi clients can try leveraged token trading, copy trading and lite contracts.

Leveraged tokens became popular in the 2020-2021 bullish rally. Basically, it is a simplified form of futures contracts: when Bitcoin (BTC) adds 1% in price, its “Bitcoin 3x Long Contract” (BTC3L/USDT) gains 3%, and so on. Both “Long” and “Short” leveraged tokens are available on BYDFi. Bitcoin (BTC), Ethereum (ETH), XRP, Polkadot (DOT), Chainlink (LINK), Cardano (ADA), Binance Coin (BNB), Uniswap (UNI) tokens are available in this section. Leveraged token traders cannot be liquidated.

Lite contracts are the simplest version of futures contracts without leverage. It’s the easiest way to start trading derivatives: it combines the simplicity of spot trading with the toolset of futures trading.

Those cryptocurrency enthusiasts who are interested in upgrading their understanding levels of crypto markets can experiment with the “Copy Trading” dashboard. In this module, users can follow master traders to automatically copy all their positions. To do that, traders share part of their earnings with the “Masters”. With BYDFi, users can compare the returns of professional traders, their styles and favorite coins to choose the most suitable one. Top traders demonstrate over 300% in 30D ROI.

Affiliate Program and Welcome Rewards: Your premium ticket to Web3

Focused on bringing a new generation of traders to the cryptocurrency segment, BYDFi introduced a couple of welcome options for newcomers. To begin with, each new user can claim a welcome bonus in US Dollar Tether (USDT); the net sum of bonuses can be as high as $2,888 in USDT.

Newbies may require a “Mystery Box” to submit KYC information and 2 USDT to enable 2FA and an anti-phishing code. In addition, 30-50 USDT rewards are distributed to those who try fiat deposits and crypto deposits from third-party services.

Picture of BYDFi

BYDFi introduced advanced rewards for large accumulated deposits (10 USDT bonus for a 1000 USDT deposit, 30 USDT bonus for a 3000 USDT cumulative deposit and 10,000 USDT trading volume and so on). Valuable feedback can be rewarded with a special bonus of up to 5000 USDT.

BYDFi users can take advantage of their social media audience by joining an affiliate program. Each user of the platform can claim a unique link and share it with followers, friends, colleagues and others. Exact details of the offer can be checked in the Affiliate Center system.

Experienced crypto-influencers can also get higher commissions and enjoy special conditions for cooperation with BYDFi.

Final thoughts

BYDFi is a ground-breaking platform for spot and derivatives trading. It works with seamless crypto-to-fiat on-ramp supporting 400+ cryptocurrencies and 50+ fiat currencies. BYDFi offers spot trading pairs, USDT and crypto-settled derivatives, leveraged tokens, lite futures.

BYDFi offers its applications in both App Store and Google Play digital marketplaces.

For newcomers, BYDFi offers copy trading, welcome bonuses of up to $2,888 and a lucrative multi-level affiliate program.