For traders and investors looking for the best crypto exchange, here’s an insight about BitYard, one of the top crypto exchanges.
BitYard, based in Singapore, was formed in late 2019 and is one of the world’s top cryptocurrency derivatives exchanges. This crypto platform is dedicated to assisting global traders in investing in their futures with its one-stop financial trading services, including Spot trading, Futures, Leveraged Trading, Margin Trading, Copy Trading, and Mining. The current tagline of the crypto exchange is “Grow Your Future in the Yard,” It also has its own BYD token with a max supply of 210 Million. Let us look at what BitYard provides and if you should choose it for your crypto needs.
How many cryptocurrencies are available to trade?
BitYard provides a wide range of supported cryptocurrencies to provide a one-stop-shop for all your crypto needs. The crypto exchange platform provides you access to:
- 43 Cryptocurrency CFDs (Contract for Difference)
- 11 Derivatives CFDs
- 7 Forex (AUD USD, EUR USD, GBP USD, USD CAD, USD JPY, USD CHF, and NZD USD.)
In addition to these, BitYard also has a stock option planned for release soon. BitYard also provides nearly 100 crypto trading pairs that you can view here.
Payment Methods Supported by BitYard
BitYard provides the versatility of multiple payment methods and accepts:
- Credit and Debit Cards
- Apple Pay
- Crypto Payments (USDT-Erc20, USDT-Trc20, BSC, BTC, ETH, XRP, TRX, EOS, DOGE, LINK, CRV, USDC, BUSD) from your wallets.
- Fiat Currency (Only available in China, Vietnam, and Indonesia)
Fees Charged by the Exchange
There are several types of fees on BitYard, including:
- Deposit Fee: There is no fee on crypto or fiat currency deposits on BitYard.
- Withdrawal Fee: A small fee on USDT crypto withdrawals. (BSC tokens -0.8 USDT, ERC20 tokens – 24 USDT, and TRC20 tokens -1 USDT)
- Quick Exchange Fee: There is also a crypto quick exchange fee on BitYard, which is 0.1%-0.15%.
- Transaction Fee: There is a 0.1% transaction fee on converting crypto tokens on BitYard.
The platform also charges a minimal overnight fee and a 0.1% fee for makers and takers on Spot Trading.
Are my funds safe – What if the exchange gets hacked?
BitYard offers decent security for customer funds by providing a lot of security features such as:
- 2FA: BitYard provides Two-Factor Authentication via the Google Authenticator app to ensure secure login activity. Here is how you can enable/disable 2FA for your BitYard account.
- Account Freezing: Your account is frozen for 24 hours after changing the password to ensure that no outsider has performed the change. Furthermore, all password changes, withdrawals, and setting changes require SMS verification.
- Regulated Exchange: BitYard is regulated and licensed by the Australian Transaction Reporting and Analysis Center (AUSTRAC), Estonian Financial Regulatory Authority (MTR), United States Financial Supervisory Authority (MSB), and Business Administration of Singapore (ACRA).
- Withdrawal PIN: The crypto platform makes it mandatory to set a PIN for withdrawals to add another layer of protection. Alongside with a record of all login activity.
- Cold Storage: BitYard also protects user funds under multiple signature wallets in cold storage to prevent hacks or cyberattacks.
- AML/KYC Policy: The platform also implements a KYC (Know Your Customer) verification and AML (Anti Money Laundering) policy to ensure all users on its exchange are genuine and protected against illegal activity.
- Transaction Monitoring: It also monitors the transactional pattern for data analysis to ensure the security of accounts, transactions, and system functionalities.
Does it provide a smooth user interface?
BitYard’s platform is available on the web and also as mobile applications on iOS and Android. BitYard has a smooth user interface that is easy to use and comes in multiple languages and light and dark modes. The trading platform features a window for graphs and charts in the middle, with crypto trading pairs on the left and buying and selling options on the right. Alongside, a help button at the bottom provides live assistance if there is a problem or query.
BitYard’s mobile application has mixed reviews, with users loving the easy layout but hating the occasional bugs or logouts. The app does provide the opportunity to trade on the go, but we recommend sticking to the desktop interface for the best experience.
Is the exchange available in my country?
BitYard is a global exchange and services nearly 150 countries worldwide. However, the only sure way to know if the exchange is available in your country is via sign-up. You can enter your contact mobile number to check if the exchange is available in your region or not.
Is BitYard Legit?
Yes, BitYard is legit. The platform has been in the market since 2019 and services nearly 500,000 users worldwide. BitYard is a Singapore-based exchange and provides one of the best exchanges for beginners.
Does the exchange provide enough liquidity?
BitYard Pros and Cons
Following are the pros and cons of the BitYard crypto exchange platform –
|Easy account set up||Moderate Liquidity|
|Regulated Exchange||Issues in mobile app|
|Low Fee Structure||No Educational Facility|
|Demo Account||No Fiat Withdrawals|
|Excellent Security Protocols|
|Quick Customer Support|
BitYard is a reliable and comfortable platform for contract trading that is an excellent option with a low fee structure that beginner traders may utilize. There are better options available for experienced traders. The platform is simple to use, allowing investors to trade cryptocurrencies like Bitcoin, Ethereum, Solana, Tether, etc., without using intricate features and functions. BitYard also enables you to deposit money in various ways, provides excellent security features and global availability. The customer services offered by the crypto platform are fantastic and are available 24*7 at the click of a button. The exchange also provides good liquidity, with a variety of cryptocurrency pairs to choose from as now there is a big term known as the Metaverse in the crypto world. Along with this, many non-fungible tokens are coming up where digital art creators have many opportunities.