Bityard Review 2021
Bityard is a leading online cryptocurrency contracts exchange. Bityard provides clients with access to premium liquidity and wide range of trading services such as spot trading, copy trade, up to 100x leverage contract trading, derivatives, Forex, and U.S. stock CFD. Crypto contracts are trading instruments that enable an investor to trade on the price movement of crypto at a predetermined future date and price.
Contracts are commonly used by traders in volatile markets making crypto contracts an ideal financial instrument for traders looking for exposure to the crypto market.
Bityard’s platform is easy to use, giving the more novice trader access to the crypto contract world. The trading interface is not only user friendly but also concise, with easy to follow command prompts.
It is also worth highlighting the transaction speeds. Bityard has one of the fastest trading engines, matching 1 million transactions per second. This is particularly important in the volatile world of crypto.
Founded in November 2019, Bityard is headquartered in Singapore and is, even more importantly, regulated by:
- The American Money Services Businesses. (Financial crime agency under the U.S Department of the Treasury).
- Singaporean Accounting and Corporate Regulatory Authority (ACRA).
- The MTR of Estonia for the European Union.
- Australia’s AUSTRAC.
The vast majority of regulated exchanges fall under one jurisdiction. Bityard falls under 4, which is almost unprecedented.
For traders looking for a simple to use contract exchange platform, this must deliver significant comfort.
- Brokerage Services & Payment Methods
- The Pros and Cons
- The Details
- Trading Platform
- Deposit & Withdrawal Options
- Fees and Charges
- Privacy and Security
- Supported Cryptocurrencies
- Bityard Wallets
- Customer Support
- The Affiliate Program
- Additional Information
Brokerage Services & Payment Methods
Bityard provides a trading platform to support the trading of cryptocurrencies by way of contracts.
Cryptos supported for trading include: USDT, BTC, ETH, XRP, TRX, EOS, BNB, DOGE, UNI, 1INCH, DOT, YFI, BYD token and other more than 50 popular cryptos.
The platform allows investors to trade and invest in either mainstream cryptos supported by Bityard or OTC.
Users who already own cryptocurrencies supported by Bityard may transfer these to the compatible wallets provided on the Bityard platform.
The Pros and Cons
- A user friendly and concise interface, with a convenient platform to input commands.
- The fastest trading engine in the industry, matching 1 million transactions per second.
- Sizeable leverage of 5x.
- Allows traders to deposit in 7 mainstream digital currencies, which is more than their peers.
- Transaction fees are just 0.05% and there is an option to deduct mining fees to reduce it further.
- Demo account available to familiarise traders with the platform.
- There is no forced liquidation.
- With the exception of traders wishing to withdraw fiat money, there is no KYC, providing traders with anonymity.
- Bityard allows the maximum withdrawal amount at USDT100,000, which is much higher than its peers.
- For traders looking for a wider asset base, Bityard offers 10 asset options versus 8 from its nearest competitor.
- Unlike its competitors, Bityard supports fiat money deposits and as many as 7 crypto deposit options. Its nearest rival offers 5 options.
- Partnership with #Paxful. there are more FIAT deposit methods available on #Bityard.
- Global Presence as reflected by the 4 different regulators that Bityard falls under and a reach across more than 150 countries.
- Users can register and open a Bityard account in 30 seconds and trade as little as 5 USDT.
- Bityard supports the trading of mainstream cryptos and OTC.
- Strong emphasis on security that includes (See “Security Section” for details):
- 2 Factor Authentication.
- Multiple Offline Signature.
- Cold Storage of Assets.
- Real-Time risk Audit.
- Full Refund Warranty.
- Copy trade.
Other positives include
- Audited: Real-time.
- Free Coins: Promotion campaigns and affiliate programs.
- Mobile Compatible: Android and IOS
- Risk Management: Stop-loss and take profit capabilities.
- Traders are only permitted to withdraw USDT. This is with the exception of users based in Mainland China, Indonesia, and Vietnam.
- A limited number of coins are supported by Bityard, though the supported coins are amongst the crypto market’s largest by market cap. Also, while limited, Bityard offers more than its peers.
- Bityard is regulated and is KYC and AML compliant for traders wishing to withdraw fiat currency, removing any option for full anonymity.
Peer Group Analysis
|License||Securities Dealer License||Financial Services Commission||MTR||AUSTRAC,
(The mining reward can be deducted by another 10%)
|Supported deposit currency||
SDT, BTC, ETH, XRP, TRX, Huobi Token, EOS, BYD token
|Minimum Margin||1 USDT||5 USDT||0.1 BTC / 1 ETH||5.00 USDT|
|No. Of Assets Options||8||4||2||10|
|Max. withdrawal||None||10 BTC||None with KYC||100,000USDT|
|KYC?||No||No||Withdrawals > 1BTC||No|
|Customer Support||Email, Telegram||Email, Online customer||Email, Telegram, and Online customer|
|Brand Ambassadors||None||None||None||Buakaw Banchamek|
Bityard – BitMEX Comparison
Having seen the peer group comparison above and when looking at the interface comparison below, Bityard not only delivers users with plenty of functionality but also keeps it simple.
Crypto contract exchange platforms can be challenging for more novice traders and crypto newbies. It really couldn’t be much simpler with Bityard. Most newbies wouldn’t even use most of the capabilities that more complex exchanges offer. The aim is simple. To deliver a simple and easy to navigate contract exchange platform to crypto newbies.
It’s for this reason that Bityard and BitMEX target a different audience in the “crypto sphere”.
Bityard supports the investing and trading of cryptos. The platform supports the trading mainstream cryptos and OTC.
The Bityard ethos is simple “Safe, Easy, and Fast” and it delivers on all three counts. Trading platforms have a tendency to deter newbies from entering the crypto market. Bityard delivers a platform that is easy to use, even for the most novice trader.
Cryptos supported for trading include Bitcoin (“BTC”), DASH (“DASH”), EOS (“EOS”), Ethereum (“ETH”), Ethereum Classic (“ETC”), LINK (“LINK”), Litecoin (“LTC), Ripple’s XRP (“XRP”), Tether (“USDT), and Tron (“TRX”).
The platform also offers traders and investors with the option to trade on margin, with leverage of 5x.
Contests and Commissions
Bityard has a number of offerings whereby users are able to earn free crypto coins.
As outlined above, these include “Beginner Rewards”, “Trading Bonuses”, and promotional “Video Contests”.
Commission from affiliates: Finally, Bityard also offers up to 60% of all trading commissions via the affiliates program. Users can find the referral link on the “Affiliate” page.
The Bityard platform provides traders with interactive charts to support trading and investment activity
Interactive charts are available for the supported trade pairings on the “Contract” and “Spot Trading” pages.
Users are able to select the crypto pairing from the menu to the left-hand side of the chart.
Additionally, you also have the option to:
- Adjust the time intervals to 1-minute, 5-minutes, 15-minutes, 30-minutes, 1-hour, 1-day, or 1-month.
- The chart provides you with the current price, actual change, percentage change, high and low, and 24-hour volume.
- There are number of drawing features available to support technical analysis.
Balances and Trading History
The platform provides users with a detailed breakdown of each transaction by open positions, pending orders, and a history of transactions made.
These are summarized on the “Contract” and “Spot Trading” pages and can be located below the chart section described above.
In addition, Bityard provides you with a Live Floating P&L, your account balance, your margin. These are provided in USDT. See below:
You can also see a history of transactions made on the “Assets” page:
Bityard provides an advanced but very simple to use trading platform. For demonstrative purposes, we are using the demo option.
In order to change from “Live” to “Demo”, go to the bottom right of your “Contract” page and click “LIVE”. This automatically switches the platform into “Demo” mode, as shown below:
Contract Trade Page
By accessing the “Contract” page, users have access to the crypto pairings on offer for trading cryptos.
As shown below, on the “Contract” page, the pairings are listed on the left-hand side of the page. Here, you are also given the last price and percentage change, the interactive chart, and your buy or sell order options.
By selecting the crypto pairing that you wish to trade from the left-hand side, you will then have access to the relevant chart and the option to buy or sell. The buy or sell options are to the right-hand side of your “Contract” page, as shown above.
For demonstrative purposes, we have chosen Ethereum (“ETH”) and Tether (“USDT”) pairing.
In order to purchase Ethereum (“ETH”):
- Complete the trade options before clicking “Buy”. These include:
- Leverage. In the case of ETH/USDT 5x.
- Initial margin in USDT – Use the + and – icons.
- By entering the leverage and the initial margin, the platform provides you with your stop loss and take profit. (See below).
- The platform provides you with a summary of the trade, including initial margin, fee, and total as shown below.
- Click “Buy” and then confirm the trade.
- Once you have clicked Buy, you will receive a notification that the order has been placed. The order summary can also be found in your “History” segment of the “Trade” page.
There is a “Settings” icon, alongside your active trade, as shown by the arrow below. This allows you to adjust stop loss or take profit settings. Click “Settings”, make the necessary adjustments, and then click “Confirm”.
In addition, there is a “+” icon that allows you to increase or reduce the initial margin and a “Close” icon that allows you to sell your position. For traders looking to close out all of their positions, there is also a “Close All” option.
- Stop Loss:
- You have the option to set by “Amount” or “Price”.
- As outlined above, simply select “Settings” and adjust as required.
- Take Profit:
- Here you are able to specify at what profit level you wish to sell. Traders can choose by “Amount” or “Price”.
In order to sell Bitcoin for US Dollars:
- Click the “Close” icon alongside the pairing that you wish to sell, in this case, ETH/USDT.
- The sell order will immediately be executed, with no further action required
Key features of the Bityard platform include:
Affiliate Program: There is a dedicated page to support the affiliate program, with up to 60% commission on all trading fees on offer.
Customizable Layouts: Investors and traders can customize charts to meet individual requirements.
Help Centre: A dedicated help center allows users to learn the ropes and navigate the platform. There is a beginner’s guide, an FAQ section, announcements, information, and terms section. In addition, there is a video section providing users with useful guides.
Leverage Options: Leverage of 5x is on offer to traders looking to enhance returns.
Mobile Trading: Bityard is also available on Android, Google Play, and the AppStore for those who want to trade on the go.
Particularly Simple to use Platform: The Bityard platform couldn’t make it easier for traders to enter the crypto world.
Risk Management: Bityard offers all-important risk management capabilities to mitigate market risk. These include stop and take profit order options.
Copy Trade: Many trading platforms have integrated the copy trade function into their products and services, which allows most investors to copy other professional traders in a more convenient way.
Bityard Platform Attributes
Key attributes of the Bityard platform include:
- Bityard offers OTC services for buying USDT and BTC, with low trading fees. This caters to first time traders.
- Deposits can be made with the following cryptos: Bitcoin (“BTC”), Ethereum (“ETH”), Huobi (“HT”), LINK (“LINK”), Ripple (“XRP”), and Tether (“USDT”).
- As a decentralized exchange, mining activity enables miners to earn the platform coin BYD.
- Cryptos supported for trading include Bitcoin (“BTC”), DASH (“DASH”), EOS (“EOS”), Ethereum (“ETH”), Ethereum Classic (“ETC”), LINK (“LINK”), Litecoin (“LTC), Ripple’s XRP (“XRP”), Tether (“USDT), Tron (“TRX”), BNB, DOGE, UNI, 1INCH, DOT, YFI, and more than other 50 popular cryptos.
- Users may only withdraw in Tether (“USDT”), with the exception of traders in Mainland China, Indonesia, and Vietnam.
- Simple, easy, and fast #Bityard.
- High emphasis on security
- Offers a leverage of between 5x. (See additional information).
- Mobile friendly with a mobile app compatible with android and iOS.
- Regulated, not by 1, but by 4 regulatory bodies internationally.
- A very user-friendly interface, with plenty of tools to manage risk.
- Demo account available to become familiar with the platform offerings.
- Global reach.
- A particularly fast registration process, with additional options available to enhance security measures.
- Fast trading engine, capable of delivering 1m transactions per second.
- 24/7 – Customer support – 24 hours per day support is available via the main support page, email, and Telegram.
Deposit & Withdrawal Options
Bityard facilitates the deposit and withdrawal of funds in crypto.
For Bityard traders located in Russia, Korea, U.S., Europe, India, Mainland China, Indonesia, or Vietnam, however, Bityard also supports the deposit and withdrawal of fiat currency. Do note that Bityard is looking to expand the number of countries that can deposit and withdraw fiat currency.
Bityard supports the deposits for the following cryptos:
Bitcoin (“BTC”), EOS (“EOS”), Ethereum (“ETH”), Huobi (“HT”), Ripple (“XRP”), Tether (“USDT”), and Tron (“TRX”).
The integration with #Paxful allows Paxful to act as a fiat-to-crypto on-ramp for our users, and there are more FIAT deposit methods available on #Bityard now.
Traders who already own Bityard supported cryptos can simply make a wallet to wallet transfer. In the case of transferring already held cryptocurrencies, select the appropriate crypto wallet listed on the “Wallets” page and click the deposit option. For demonstrative purposes, we have chosen EOS (“EOS”).
Go to the “Deposit” page located under the Assets dropdown menu, locate the EOS wallet, and click “Receive”.
We recommend that you scan the QR code, when possible, to make a transfer from your private wallet to your Bityard wallet. Once you have scanned the QR code, enter the number of EOS you wish to transfer and complete the deposit.
There is also an option to copy the EOS wallet address to prevent making a typo. A transfer to an incorrect wallet address will result in a loss of funds.
Please note that there is a minimum deposit of 5 EOS, anything less and the deposit will fail.
Bityard also requires a MEMO in addition to an address to successfully deposit your EOS to Bityard. You can copy and paste the MEMO from the EOS wallet as shown above by the arrow. This is only required for EOS deposits.
Minimum deposits for the other Bityard supported cryptos are as follows:
- Bitcoin: 0.002BTC
- Ethereum: 0.05ETH. Users may only transfer Ethereum from the Ethereum network.
- EOS: 5EOS
- Huobi: 5 HT. Users may only transfer Ethereum from the Ethereum network
- Ripple’s XRP: 100XRP. In addition to the Address, users need to also use a Tag provided in order to make a successful transfer.
- Tether: 15USDT
- TRON’s TRX: 500 TRX
Fiat Currency Deposit
For traders located in either Russia, Korea, U.S., Europe, India, Mainland China, Indonesia, or Vietnam:
Select “Deposit” from the “Assets” dropdown menu, click “Paxful” and select the fiat currency you wish to deposit and follow the instructions.
If there is any doubt, please contact support online before proceeding.
For withdrawals, traders and investors may withdraw 65 different cryptos and deposit to privately held compatible Tether wallets.
Bityard does not support the withdrawal of fiat currency for the broader market nor other cryptos supported by the platform for trading.
To make a crypto withdrawal, locate the wallet from which you wish to withdraw your cryptocurrencies.
Also, note that there is a withdrawal limit of 100,000USDT with an accompanying withdrawal fee of 2USDT. The minimum withdrawal is 15USDT.
An added feature of Bityard is that you are able to view your withdrawals history. Scroll down to the bottom of the “Withdraw” page and click “Withdrawal History”.
Timelines for deposits and withdrawals are provided here and also shown below:
To open an account, go to the Bityard home page and click on “Get Started” on the top right-hand side of the site. (As shown below).
You are then given the option to register by email or by mobile. Select your preferred method and complete the required information as shown below:
Once you have entered your email address and password, you will then need to fill a jigsaw. Complete and go to your email address, retrieve the verification code, enter the code, and click “Register”.
You have now successfully opened a Bityard account and are also eligible for a “signing on” bonus. Click “Get Bonus” to get your signing on bonus.
There are a number of bonuses to choose from and these are broken down into a number of categories:
When you click “Edit”, you are redirected to your “Account Security” page.
We recommend that you make any low-level password more appropriate and to also use a “pin” and “SMS authentication”. By binding, either your email or mobile, you will receive 1 USDT. You will also receive 1 USDT for setting a username.
Please note that you will need to set a pin in order to make any withdrawals.
First Depoit Bonus
Upon completion of the added security measures as prompted and outlined above, you can then make a deposit and begin trading.
Post Registration Deposit
In order to make a deposit, select “Deposit” from the “Assets” dropdown menu.
Select the crypto wallet that you wish to deposit into from the menu on the left-hand side.
To then make a deposit, either use the wallet QR code or copy the deposit address provided and enter this into your existing crypto wallet. Entering an incorrect wallet address will lead to a loss of coins.
Please note that there is a minimum deposit for each crypto. Any deposit attempts made for amounts below the specified amounts will fail.
Also, you will see that you can make withdrawals from this page. As previously mentioned, you will need to set a “Pin” before making any withdrawals.
Once you have funded your Bityard account you are then ready to trade. There are limitations, however, until the verification process is complete. For traders in countries where fiat currency withdrawal is permitted, you must complete the KYC verification process.
Fees and Charges
Bityard is transparent about fees and provides a detailed breakdown of all fees associated with the platform.
Platform fees are summarized below and can also be located here:
Do note that both opening and closing fees are charged upon the opening of a position. Bityard automatically deducts these fees from your account balance.
Bityard waves the Overnight Fee for positions held for less than 12-hours. For positions held for more than 12-hours and closed after SGT 0555, the overnight fee is automatically deducted from your account.
It is important to note that if there are insufficient funds to cover the Overnight Fee, Bityard will force liquidate positions to cover any shortfall.
Fees for Deposits and Withdrawals are summarised as follows:
For deposits, there are no deposit fees and withdrawal fees are a flat 0USDT, if you choose TRC20.
Privacy and Security
Bityard delivers provides a high-level security environment to protect investor assets and the platform.
To improve your security settings, go to “Account Security” from your account dropdown menu as shown below:
Pin: Bityard requires users to have a Pin set in order to make any withdrawals from the Bityard exchange. Users need to enter the Pin each time they make a withdrawal.
Email Verification: By setting an Email Verification, users must enter a verification code in order to make withdrawals, reset passwords, and make any changes to account security settings.
SMS Authentication: By setting an SMS authentication, users must enter a verification code in order to make withdrawals, reset passwords, and make any changes to account security settings.
Login Records: All login records are shown here. Users can review logins and tighten security settings and report any unauthorized logins.
Withdrawal Address Management: Users are able to include withdrawal addresses to facilitate the withdrawal of cryptos from the Bityard exchange. Select “View” for “Withdraw Address Management” and click “Add”.
Select the Coin, enter the wallet address and address tag and click “Confirm”.
Please ensure that you enter the correct target wallet address. Incorrect entries will lead to the loss of coins.
KYC Verification: In order to withdraw fiat money, users must complete the KYC Verification. Click “Enable KYC Verification” at the top of your “Account Security” page and provide the necessary information and click “Confirm”.
Bityard supports the trading the following cryptos:
Bitcoin (“BTC”), DASH (“DASH”), EOS (“EOS”), Ethereum (“ETH”), Ethereum Classic (“ETC”), LINK (“LINK”), Litecoin (“LTC), Ripple’s XRP (“XRP”), Tether (“USDT), and Tron (“TRX”), BNB, DOGE, UNI, 1INCH, DOT, YFI, and other more than 50 popular cryptos.
Traders can locate the cryptos supported by Bityard on the “Contract” and “Spot Trading” pages, as shown below.
Bityard provides users with compatible wallets for cryptos that are supported deposits by the Bityard exchange.
Traders are able to navigate directly to the “My Assets” page to view the available wallets.
Crypto wallets include Bitcoin (“BTC”), Bityard’s (“BYD”), EOS (“EOS”), Ethereum (“ETH”), Huobi Token (“HT”) Ripple (“XRP”), Tether (“USDT”), and Tron (“TRX”).
Simply go to the Assets dropdown menu and select “My Assets” page as shown below:
Within the Wallets page, users are given a crypto balance and an estimated USDT balance for each wallet. A total assets balance in USDT and US Dollar equivalent is also provided.
Traders can deposit and withdraw to and from each wallet with ease.
We recommend that you hold any idle cryptos purchased for investment purposes or longer-term trading in private wallets.
For traders looking for a more detailed analysis of their portfolio, users can navigate through the “My assets”.
Under “Asset Center”, there is a further breakdown of information that includes:
- My Assets
- Deposit History
- Withdrawl History
- Fiat history
- Transfer Records
Here, users can specify the time period to review as shown below:
Under “Orders”, Bityard provides users with order history and total and current-day volumes, as shown below:
And finally, for those taking advantage of the Affiliates program, the Affiliates page provides all the necessary history and summaries:
Bityard provides numerous customer support options.
Users can reach out for support via email @ email@example.com, Telegram (See “Social Media Presence below), and online support.
Through the online support link, users can chat with the robot or request to chat directly with an operator, as shown below. Simply click the “Support” icon to the center-left of your Bityard page.
Social Media: Bityard has a strong social media presence.
The Affiliate Program
Bityard has an attractive affiliate program marketed as KOL and the crypto community is invited to become a Bityard business partner. Affiliates can convert influence into commissions, with the opportunity to earn up to 60% of commissions on all trading fees.
Transparency: A multi-dimensional report with detailed information on transactions is provided.
Real-time settlement: All commissions are settled in real-time, with real-time data updates.
Support: Affiliates have access to 1-on-1 assistance from Bityard’s business department.
In addition to the above earnings potential, KOL offers 5 support plans:
Minimum 40% rebate；
Daily salary for KOL；
Every active user bonus in first 3 months；
Bonus for upgrading to a qualified KOL；
Bonus for a recommendation of KOL.
More information check：https://www.bityard.com/KOL-help
See below for affiliate commissions that are on a tiered scale:
Bityard’s coin is known as BYD and there is a total of 210 million Bityard coins in circulation. Playing an important role within the Bityard ecosystem, BYD will be listed on mainstream exchanges in the future.
An Initial Coin Offering will also be launched down the road for investors to acquire BYD coins.
The Bityard team sees a similar potential to that of Binance Coin that has risen to the dizzy heights of a top 10 crypto (by market cap).
Users have access to the FAQ and Help Centre as well as a Beginner’s Guide and Contract Guide. These are available under the “More” dropdown menu located at the top of your Bityard interface.
Maximum Leverage Sizes are as follows:
- BTC/USD: 5x.
- BCH/USD: 5x.
- DASH/USD: 5x.
- EOS/USD: 5x.
- ETC/USD: 5x.
- ETH/USD: 5x.
- LINK/USD: 5x.
- LTC/USD: 5x.
- TRX/USD: 5x.
Bityard is a safe, particularly easy, and fast cryptocurrency contract trading platform delivering cryptocurrency trading to move novice traders. An easy to navigate platform allows novice traders to focus on trading cryptocurrencies without being overwhelmed by complex functionalities and trading options.
The very user-friendly platform is more catered towards novice investors.
Bityard’s ultimate goal is to translate complex contracts into simple trades in order to simplify the trading experience for its customers.
Bityard doesn’t fail to deliver on its ultimate goal and focuses on its niche newbie trader market.
In addition, Bityard has diverse cryptocurrency trading services such as Contract, Derivatives, and Spot Trading.
Thai boxing champion and Bityard brand ambassador Buakaw Banchamek is another example of Bityard’s position as a niche player. Few crypto exchanges have sports personalities as brand ambassadors.
All in all, there are enough crypto pairings to fully immerse into the crypto world and the platform is super simple to use.
For those looking to enter the crypto market, there is no better place to start than at Bityard.
- Sri Lanka
- Solomon Islands
- Faroe Islands
- French Polynesia
- El Salvador
- Papua New Guinea
- South Sudan
- Bosnia and Herzegovina
- Isle of Man
- Costa Rica
- Dominican Republic
- Saint Kitts and Nevis
- Saint Lucia
- Cook Islands
- New Zealand
- South Africa
- United Arab Emirates
- Russian Federation
- Cayman Islands
- Saudi Arabia
- San Marino
- Czech Republic
- Marshall Islands
- Hong Kong
- Cote d'Ivoire
- Cape Verde
- United Kingdom
- Trinidad and Tobago
- Vatican City
- Burkina Faso
- South Korea
- Puerto Rico
- Virgin Islands, British
- Antigua and Barbuda
- Sao Tome and Principe
- Saint Vincent and the Grenadines
- New Caledonia
- Equatorial Guinea
- Sierra Leone
- North Korea
- Northern Mariana Islands
- Central African Republic