BYDFi Review: Access 400 Cryptocurrencies, Advanced Trading Features And Benefit from the Affiliate Program

• One of BYDFi’s standout attributes is its inclusive approach to cater to both novice and experienced traders, offering two distinct exchanges: classic and advanced. 

• BYDFi currently provides access to a diverse selection of approximately 400 cryptocurrencies.

What is BYDFi

Established in 2020, BYDFi, previously known as BitYard, has risen to prominence as a highly esteemed cryptocurrency trading platform. The company’s name, “BUIDL Your Dream Finance,” embodies its dedication to empowering traders and shaping their future in the digital asset realm. 

The intentional misspelling of “build” in the name encourages community members to actively contribute to blockchain advancements and invites more people to participate in crypto trading.

Despite being relatively young in the industry, BYDFi has achieved considerable global recognition, primarily due to its user-friendly interface and a wide range of crypto conversion tools. Setting itself apart from other crypto exchanges, BYDFi offers an intuitive interface, advanced trading features, demo trading, perpetual trading, copy trading, leveraged trading, and various other brokerage services.

One of BYDFi’s standout attributes is its inclusive approach to cater to both novice and experienced traders, offering two distinct exchanges: classic and advanced. The platform ensures fast and secure conversions, supporting over 600 trading pairs, including fiat currencies. 

Understanding Traders’ Needs: A User-Friendly Interface

BYDFi differentiates itself among crypto trading platforms through its unwavering commitment to empowering traders. The platform firmly believes in the potential of each individual, and it goes the extra mile to provide the necessary tools, resources, and assistance to shape traders’ futures in the dynamic realm of digital assets.

BYDFi is dedicated to furnishing experienced traders seeking to broaden their horizons or newcomers eager to delve into crypto with knowledge, advanced features, and a user-friendly interface to ensure their success. BYDFi stands out as a platform that genuinely comprehends traders’ needs and endeavors to foster an environment where your dreams and ambitions can transform into reality. Here’s why choosing BYDFi is the right move:

Dual Licenses as an MSB

When it comes to customer safety, the BYDFi trading platform places a strong emphasis on licensing. Understanding the paramount importance of regulatory compliance, BYDFi holds dual licenses as a Money Services Business (MSB) in both the United States and Canada.

As a result of obtaining these licenses, BYDFi unequivocally demonstrates its dedication to fostering a secure and reliable environment for its users. Consequently, traders can rest assured knowing that BYDFi meticulously adheres to stringent regulatory standards, which safeguard customer funds and maintain the utmost integrity in all its operations.

Forbes Recognition

In 2023, BYDFi achieved a significant milestone when Forbes recognized it as one of the top ten best cryptocurrency exchanges. This prestigious accolade is a testament to BYDFi’s remarkable progress since its inception in 2020, firmly establishing its position as a favored destination for traders.

Forbes’ acknowledgment highlights BYDFi’s steadfast commitment to offering its users a secure, dependable, and innovative trading experience. Such recognition further cements BYDFi’s leading role in the crypto exchange industry, reaffirming its dedication to delivering exceptional services and building trust among traders.

Streamlined Deposits and Withdrawals

BYDFi offers a hassle-free and straightforward experience for deposits and withdrawals. Whether you’re a seasoned user or new to trading, BYDFi provides user-friendly options that make funding your account and withdrawing funds effortlessly. With an extensive selection of over a hundred supported currencies, the platform ensures that crypto traders worldwide can access diverse payment choices.

Moreover, BYDFi places a strong emphasis on simplicity and convenience, enabling you to concentrate on your trading strategies and financial objectives without unnecessary complications. At BYDFi, you can enjoy the ease of financial transactions, ensuring a seamless journey within the world of crypto trading.

Catering to Diverse Needs: BYDFi’s Inclusive Approach to Investors and Traders

BYDFi’s primary objective is to create an all-inclusive crypto ecosystem that caters to the varying requirements of global investors and traders. The platform recognizes that each person possesses distinct deposit and trading strategies, which is why BYDFi has meticulously crafted a platform that offers a diverse array of options.

With offerings spanning derivatives, spot trading, fiat-to-crypto conversions, and more, BYDFi presents a distinctive trading experience that covers multiple aspects of the crypto market. The ultimate aim is to equip users with the necessary tools and capabilities to navigate the crypto landscape efficiently and effectively.

400 Cryptocurrencies to Trade

At present, BYDFi provides access to a diverse selection of approximately 400 cryptocurrencies, encompassing well-known ones like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB).

Advanced Trading Features: BYDFi’s Cutting-Edge Offerings

Spot Trading

At BYDFi, spot trading enables users to engage with the vibrant spot market community, where trades are promptly settled. The spot trading interface encompasses three versions, catering to users’ preferences for trading their spot pairs:

1. Direct Conversions: This straightforward method allows instant swapping of cryptocurrencies, bypassing the order book. Users can effortlessly convert between different cryptocurrencies with just a single click.
2. Classic Spot Trading: This feature offers traders straightforward trading tools, including the order book, charting software, and various order types, enhancing the trading experience.
3. Advanced Spot Trading: This segment encompasses all the tools available in the spot market, including features from the classic segment. Additionally, it provides a more optimized platform for technical analysis and market depths, offering advanced options for seasoned traders.

COIN-M Trading

Within the Derivatives category, BYDFi users have access to four notable perpetual contracts, one of which is COIN-M perpetual agreements. These contracts cover four trading pairs: BTC/USD, ETH/USD, XRP/USD, and DOT/USD. 

USDT-M Trading

In terms of USDT-M trading, BYDFi offers perpetual contracts settled in USDT. This interface supports multiple cryptocurrencies, such as Bitcoin, Ethereum, XRP, Chainlink, Bitcoin Cash, and Dogecoin. With approximately 100 trading pairs available, all contracts are perpetual, lacking expiration dates, resulting in a streamlined cryptocurrency trading experience on BYDFi. Moreover, traders can easily access various options for trading various cryptocurrencies.

Lite Contracts

The Lite contracts primarily cater to novice traders, allowing them to practice trading strategies in a demo trading mode. These contracts consist of 13 currency pairs based on USDT, providing a suitable and accessible platform for users to gain experience before engaging in live trading.

Copy Trading

The copy trading functionality enables inexperienced traders to utilize the expertise of master traders. By automatically copying the trade positions of these skilled traders, newcomers can benefit from their experience. Additionally, this feature proves especially valuable for beginners who may not possess in-depth technical analysis knowledge and prefer to follow successful traders with established track records.

How To Get Started with BYDFi

Starting your journey on BYDFi is incredibly simple, thanks to its user-friendly registration process that eliminates the need for time-consuming KYC procedures. Follow the straightforward steps below, and you’ll quickly create your account and dive into the world of crypto trading:

• Firstly, visit the official website of BYDFi and find the prominent yellow “Get Started” tab at the top right-hand corner of the landing page.
• Next, fill in the registration form using a valid email address or mobile number. If opting for an email address, provide a valid email ID where a verification code will be sent. Enter the code and create a strong password. Alternatively, if using a mobile number, include the country code followed by the mobile number, where an SMS verification code will be sent. Enter the code along with a secure password.
• Once everything is entered correctly, click “Get Started” to finalize the process and gain full access to BYDFi’s functionalities, enabling you to embark on your crypto trading journey.

It’s important to note that while new users can start depositing funds and trading immediately, completing the verification process enhances security measures. However, rest assured that BYDFi’s streamlined sign-up process ensures a hassle-free experience, enabling you to begin your trading endeavors easily.

BYDFi’s Transparent Fee Structure

Trading fees

The transaction fees remain consistent regarding spot trading pairs and USDT/Inverse contracts. The maker and taker transaction fee rates for spot trading pairs generally fall within the 0.1% to 0.3% range. It is essential to be aware that opening and closing fees may vary based on different arrangements. Hence, we advise visiting BYDFi’s official website for the most current details on trading fees. Furthermore, it’s worth noting that an overnight fee (calculated as margin * leverage * 0.045% * days) could be applicable to maintaining a trade order open overnight.

Deposit & Withdrawal Fees

BYDFi’s trading platform imposes no fees on deposits. Nevertheless, a flat fee is applied for each withdrawal, covering transaction costs associated with transferring crypto from the BYDFi account. It’s important to note that withdrawal fees may vary due to network congestion. Additionally, the daily withdrawal limit can differ based on the token and network traders select.

Exploring BYDFi’s Payment Methods

BYDFi is a well-known crypto exchange, boasting an intuitive user interface and advanced features comparable to other top-notch platforms. Traders can easily initiate their trading journey through various seamless and secure payment methods BYDFi offers. 

The platform provides multiple payment options, including debit cards, credit cards, e-wallets, bank transfers, and crypto wallets, accommodating cryptocurrency and fiat currency transactions. Moreover, users can swiftly deposit fiat currency via debit/credit cards, but wire transfers are not supported for this purpose. To locate a crypto exchange that permits fiat currency deposits via wire transfers, traders can utilize BYDFi’s Exchange Filters feature.

Distinguished from other exchanges, BYDFi stands out with support for over 600 currencies and trading pairs. Additionally, this extensive selection encompasses fiat currencies, cryptocurrencies, and stablecoins. As of the time of this BYDFi review, the platform facilitates trading in various fiat and cryptocurrencies, such as BTC, USDT, ETH, LTC, 1INCH, AAVE, ADA, AVAX, AXS, BAT, BCH, BNB, BUSD, CAKE, CHZ, CLV, DOGE, DOT, EOS, FIL, FTM, LINK, MATIC, SAND, NEAR, SHIB, SNX, SUSHI, TRX, USDC, UNI, XRP, DASH, USD, AED, AUD, ARS, BBD, BGN, BMD, BOB, BRL, BYN, CAD, CHF, CLP, COP, CRC, CZK, DOP, DKK, DZD, EUR, FJD, GBP, HUF, INR, JPY, NOK, NZD, PHP, PLN, RUB, SEK, THB, and many others.

Welcome and Advanced Rewards

Highlighting its dedication to providing a rewarding experience, the all-in-one trading platform offers various incentives tailored for regular users and advanced traders. This welcoming approach is evident through introduction of nine New User Tasks or Welcome Rewards.

By accomplishing various tasks, including the Mystery Box, Google Authenticator Reward, Anti-Phishing Code Reward, Join Community Reward, First Deposit Reward, First Crypto Deposit Reward, Copy Trading Reward, Leveraged Token Reward, and Feedback Rewards, traders have the opportunity to earn up to $2888 in rewards. BYDFi demonstrates its commitment to creating a gratifying trading experience for all its users through these initiatives.

Affiliate Program

The affiliate program at BYDFi presents users an opportunity to transform their influence into earnings by referring to the crypto trading exchange on various social media platforms and attracting more users. BYDFi’s Affiliates can earn commissions by following three straightforward steps:

• Share the referral link on social media channels like Facebook, YouTube, Twitter, Telegram, and Discord.
• Receive commissions through the Affiliate Centre system.
• Achieve elite agent status with exceptional performance.

The benefits of participating in BYDFi’s affiliate program encompass the following:

• Commissions of up to 40% based on successful referrals.
• One-on-one client assistance for affiliates.
• Real-time commission settlement to ensure timely earnings.
• Multi-dimensional reports to track and analyze performance.

Robust Wallet Security

The BYDFi development team is committed to implementing precise, comprehensive, rigorous, and stringent security standards to guarantee the utmost protection for client’s digital assets. 

Regular security audits and stress tests are conducted to ensure strict adherence to security standards, offering top-notch protection to clients worldwide. To further enhance customer account security, BYDFi employs dual authentication through Google Authenticator, also known as two-factor authentication (2FA). Additionally, this two-step verification process adds an extra layer of security, preventing unauthorized access by third-party agents or users and significantly bolstering the safety and reliability of trading accounts.

Wallet security is prioritized on BYDFi, where all digital wallets are stored in secure cold storage wallets to eliminate the risk of a single point of failure. Additionally, the use of layered deterministic cold wallets further enhances security. Multi-signature technology is also employed to protect transaction access, safeguarding funds against attacks and securing assets in case of losing access to facilities or keys.

Even in the rare event of a complete system hack, including the transaction engine, database, and web server, hackers cannot access private keys and steal funds from the platform, as cloud services do not require private keys. This robust security framework ensures clients’ peace of mind, knowing their digital assets are safe on BYDFi.

Efficient and Friendly Customer Support

BYDFi’s exceptional customer support is one of the key factors contributing to its popularity in the crypto trading market. Users can connect with the accommodating customer support team with multiple support channels available, including 24×7 live chat, Facebook, Twitter, Telegram, YouTube, Medium, Discord, Reddit, and LinkedIn.

For those who prefer email communication, traders can send their queries to cs@BYDFi.com. The live chat feature ensures instant responses, swiftly resolving customer issues. Additionally, BYDFi offers an extensive Help Centre that covers a wide range of topics, including announcements, spot smart market, trading strategies, derivatives, copy trading, market liquidity, leveraged tokens, and other relevant articles. 

Moreover, a comprehensive FAQ section addresses frequently asked questions about trading accounts, deposits, withdrawals, buying and selling crypto tokens, security measures, fees, and Email and Google verification. All these support resources contribute to an enriching experience for BYDFi users.

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