Bityard Review – Is It Legit & Safe? (2021)

This article will review Bityard, one of the leading cryptocurrency exchanges that provide safe, simple, and fast crypto-asset exchange services. They have over 100,000+ users from over 150 countries. Bityard has successfully partnered with multiple companies worldwide, such as CoinMarketCap, Binance, and more.

Summary(TL;DR)

  • Bityard is a leading cryptocurrency exchange founded in 2014 and has its headquarters in Singapore.
  • Acquired licenses from Financial regulators of four different countries.
  • Offers various trading options such as spot, leveraged, contract, margin, and copy trading.
  • Uses K-Line, a weighted average technique to calculate the platform’s prices by collecting data from the top three exchanges: Binance, Huobi, and OKEX.
  • They provide Daily Mining to earn BYD and USDT.
  • Support three mediums to deposit funds. (Crypto, Visa/Master cards, OTC)
  • They use a high-security architecture to protect your funds and the platform. They store the majority of the funds in cold wallets and use two-factor authentication.
  • A user-friendly interface helps you to start trading quickly. A demo mode is available, which will help you in getting accustomed to the platform. 
  • A 24/7 live chat will help you to resolve customer’s issues.

Bityard Trading Options

Spot Trading

Crypto spot trading allows you to purchase crypto-assets and hold them until their price increases or use them to buy different assets. Bityard supports more than 30+ crypto-assets such as Bitcoin, Ethereum, Litecoin, and more.

Spot Trading

Futures Contract Trading

Futures Contract allows you to trade on an asset’s price movement at a predefined date and price. They are used to hedge other investments or to lock in profits when trading in volatile markets. Every contract involves a buyer, seller, and a set price.

Futures trading helps you multiply your returns; however, they can be risky. Contract Trading allows you to make a profit daily.

If you think the asset price will increase, you can buy/long the asset contract and close when your target is achieved. Similarly, If you believe the asset price will decrease, you can sell/short the asset contract. This helps you make a profit from both the buy and sell markets.

You can choose from sixteen crypto-asset options such as Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, EOS, TRON, and more.

Also Read: Futures Trading – A Guide for Trading Futures in Crypto

Bityard Contract Trading
Bityard Review: Futures Contract Trading

Leveraged Trading

Leverage allows you to use borrowed capital to invest or trade in open markets as a funding source. Trading with leverage gives traders options to trade larger amounts, even with less capital.

Bityard provides a wide leverage range from 5x to 125x.

Bityard Leveraged Trading
Bityard Review: Leveraged Trading

Margin Trading

Margins allow you to trade higher value assets by using a lower amount. You can make huge profits or losses without actually having to own the asset.
Bityard uses a system of isolated margin rather than cross margin; therefore, you will not get liquidated. The margin you have set aside is kept separate from the rest of your trading positions.

Also, read an ultimate guide to Bityard Margin Trading.

Copy Trading

Copy Trading allows users to copy trading strategies from experts. It helps you earn better profits and learn from experienced traders. Bityard platform provides you detailed information about expert traders, such as profit rate, trade days, Win Rate 30D, P/L ratio 30D, 30D total trades, and each trading expert’s followers. The trader list data is updated every two hours.

Bityard offers a flexible copy trading setting. You can also filter according to trading days, styles, and P/L ratio 30D.

Besides, they provide different styles such as Short Term, Midterm, Long term, High Risk, Racial, Light trade, steady, and more. The trading days are divided into less than thirty, thirty to sixty, sixty to one-eighty, and unlimited. The P/ L ratio is categorized as less than twenty, twenty to sixty, and more than s