Bityard Review 2021
BitYard is an online crypto exchange designed to support crypto trading. The BitYard platform gives traders access to the crypto market via spot, Contracts for Differences (CFD), and copy trading services.
In addition to the existing services, BitYard will soon be launching a perpetual contract trading services and a grid trading system.
Established in 2019 and headquartered in Singapore, BitYard supports the spot trading of more than 100 coins that include but are not limited to Bitcoin (“BTC”), Ethereum “(ETH”), Litecoin (“LTC”), and Dogecoin (“DOGE”).
Please see here for BitYard’s full list of spot crypto parings.
Via the CFD trading platform, BitYard supports the trading of cryptos, indices, commodities, and forex.
FOREX pairings supported include AUDUSD, EURUSD, GBPUSD, USDCAD, USDJPY, USDCHF, and NZDUSD.
Headquartered in Singapore, BitYard falls under the purview of the following regulatory authorities:
- The American Money Services Business (“MSB”).
- Estonian Financial Regulatory Authority (“MTR”).
- Australian Transaction Reporting and Analysis Center (AUSTRAC).
- Business Administration of Singapore (“ACRA”).
While offering multiple products, BitYard is a simple to use platform catering for novice investors via spot trading. For more seasoned traders, its contract and soon to launch perpetual contract trading services and grid trading system are ideal for trading crypto.
BitYard Platform Attributes
Key attributes of the BitYard platform include:
- Fast and easy registration process.
- Simple to use multi-product platform catering to both novice and experienced traders.
- Low trading fees.
- CFD trading for multiple asset types including cryptos, indices, commodities, and forex.
- Users can buy and sell the crypto market’s largest and most popular cryptos via the spot trading platform.
- Sizeable leverage, with a minimum investment of just $2.
- Advanced copy trading system with top listed traders around the world.
- Users may deposit both fiat and crypto currencies, subject to jurisdiction.
- Traditional trading features. These include charts, with the required tools to carry out technical analysis.
- Responsive customer support via Live Chat.
- Global presence, servicing more than 500,000 users across more than 150 countries.
- High emphasis on security. See Privacy and Security section for full details.
The Pros and Cons
- Regulated: BitYard holds numerous licenses across multiple jurisdictions.
- Customer Support: Users can contact customer support via live chat, by message, and by email.
- Fiat Purchases: Investors may purchase USDT with fiat currencies.
- Fast Registration: Registration takes as little as a minute.
- Verification: Traders may use certain features of the platform without completing the KYC/verification process.
- Low Fees: Competitively low fees.
- Multiple Product Platform: BitYard supports spot and CFD crypto trading. Additionally, users may trade indices, commodities, and forex CFDs.
- Leverage: Traders may enhance yields, with BitYard offering high leverage for CFDs.
- Copy Trading: BitYard’s advanced copy trading system all users to copy strategies of amongst the world’s top-listed traders.
- Demo Account: Available to allow users to become familiar with the platform before trading live.
Other positives include
- High Emphasis on Security: Dual authentication, cold storage wallets, and engine & system security protocols deliver high level protection for users.
- Affiliate Program: Influential crypto trading professionals can apply to become a member of the BitYard affiliate program.
- Multi-level Commission structure enables members of the program to earn commission from indirect referrals.
- Affiliate members can earn up to a 40% commission rate, while also receiving the support of BitYard to strengthen brand image in the industry.
- At present, users may only withdraw USD Tether.
- Brokerage Services, Supported Cryptocurrencies & Payment Methods
- The Details
- BitYard Wallets
- Deposit & Withdrawal Options
- Trading Platform
- Key features of the BitYard platform
- Privacy and Security
- Customer Support
- Additional Information
BitYard provides an online platform supporting the investing and trading of cryptocurrencies.
Investors and traders are able to access the crypto markets via BitYard’s “Spot Trading” platform. For more seasoned traders, BitYard also offers CFD trading for commodities, cryptos, forex, and indices.
In addition to offering spot and CFDs, BitYard has a copy trade option. Here, investors can follow trades from leading traders from around the world.
Users, who pre-own BitYard supported cryptocurrencies, may transfer these to the compatible crypto wallets provided on the BitYard platform.
To open an account, go to the BitYard homepage and click on the ” Get Started” icon as shown below:
Complete the email or mobile registration. Please note that you have 1 minute to complete the details that includes entering a verification code.
Once you have signed up, you are also eligible to welcome bonuses in USD Tether.
Beginner bonuses include:
- 1 USDT to set username.
- 1 USDT to bind mobile phone or email.
- 2 USDT to conduct a demo trade once.
- 2 USDT to conduct a live trade once.
- 8 USDT for surpassing 50,000 in trading volume.
- 18 USDT for surpassing 200,000 in trading volume.
- 38 USDT for surpassing 1,000,000 in trading volume.
- 188 USDT for surpassing 5,000,000 in trading volume.
Additionally, users received 50 USDT for a first deposit of greater than or equal to 0.5 BTC.
Upon registering, we recommend that you go to your “Account Security” page and enhance your security settings before getting started.
We recommend that you:
- Bind your email for login, password resets, and withdrawals.
- Set up Google verification.
- Activate a “Pin” for deposits and withdrawals.
For users looking to have access to BitYard’s full offerings, you will need to complete the KYC. Go to the “Account Security” page and then select “Real-name authentication” to complete the KYC process.
Post Registration Deposit
Upon completion of the registration process, you will now need to make a deposit to begin trading and investing.
In order to make a deposit, users may either:
- Deposit already held BitYard supported crypto.
- Purchase USD Tether.
To deposit externally held crypto, go to the “Assets” dropdown menu and select “Deposit”.
- Select the crypto that you wish to deposit from the dropdown menu.
- Copy the BitYard wallet address or scan the QR code and complete the transfer from your external wallet.
- Please note that there are minimum deposits for each crypto.
Once you have funded your BitYard wallet you are 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.
BitYard gives investors and traders access to the most popular cryptos in the market place. Cryptos available for trading vary depending upon whether traders are looking to trade spot or CFD.
Contract Crypto Trading
Crypto-USDT pairings available for trading via contract include:
Atomic (ATOM”), Bitcoin (“BTC”), Bitcoin Cash (“BCH”), Cardano’s ADA (“ADA”), Chainlink (“LINK”), EOS (“EOS”), Ethereum (“ETH”), Ethereum Classic (“ETC”), Litecoin (“LTC”), Polkadot (“DOT”), Ripple’s XRP (
XRP”), Tron’s TRX (“TRX”), and UNISWAP (“UNI”).
Spot Trading Cryptos
BitYard supports an extensive number of crypto-USDT pairings for spot trading.
In addition to the largest and most popular cryptos, BitYard supports the spot trading of more than 100 crypto-USDT pairings.
Users may view the extensive list on the Spot Trading page, as shown below.
BitYard supports the investing and trading of cryptos. Investors and traders can access the crypto market via spot trading and/or CFDs (with leverage).
Unlike other platforms that offer leveraged CFD trading, BitYard is simple to use, while offering all the necessary capabilities for more seasoned traders.
For spot crypto trading, BitYard offers the most popular crypto-USDT pairing in addition to multiple others.
Via CFDs, BitYard also offers an extensive range of crypto pairings to fully immerse into the crypto markets.
Catering to both novice and seasoned traders, BitYard delivers fast transaction speeds in a highly secure trading environment.
The platform also provides copy trading services for those looking to benefit from the trading strategies of highly skilled traders.
In summary, BitYard services can be classified into 5 distinct categories:
- Crypto Spot Trading.
- CFD Trading.
- Copy Trading System.
- Perpetual Contract Trading Service (coming soon).
- Grid Trading System (coming soon).
BitYard provides traders with access to interactive charts. This allows traders to carry out all the necessary technical analysis to make informed trading decisions and to manage risk.
The interactive charts have an array of technical indicators to choose from. Users may also select from multiple time intervals.
Additionally, users may view charts with candles, hollow candles, Heikin Ashi, bars, line, area, and baseline.
In order to view the chart of your preferred crypto pairing, simply go to the relevant trade page and select the pairing from the left-hand-side.
Balances and Trading History
BitYard provides users with access to open orders and order/trade histories. The details are provided across the Spot Trading and respective Contract sub-categories that include crypto, derivatives, and forex.
Users may view “Open Orders”, “Order History”, “Trade History”, and “Funds”. Detailed information is then available for each sub-category.
For “Trade History” you may also define the period over which you wish to view transactions made.
Crypto CFD Trading:
Users may view “Live Position”, “Trigger Order”, “Trade History”, and “Transaction History”.
In addition, users may view their respective wallet balances by viewing the “My Assets” page. Here BitYard provides:
- Wallet balance for each crypto in each respective crypto balance.
- Individual crypto balance in fiat currency equivalent.
- Total Assets value in fiat currency equivalent.
Users may select their preferred fiat currency for balances from the dropdown menu as shown below:
For traders using the Spot Trading platform, BitYard also provides the order book and recent trades. These can be located to the right-hand-side of the chart. Users can select the trade pairing to view from the listing on the left-hand-side of the page.
Fees and Charges
BitYard has a dedicated “Fee” page providing users and prospective users with a detailed breakdown of all fees associated with the platform offerings.
These can be summarised as follows:
All Spot Trading Pairs:
- Maker’s Fee: 0.1%
- Taker’s Fee: 0.1%.
Transaction Fee: 0.1%
Contract for Differences Fee:
To view a full breakdown of the fees associated with using the platform, please see here.
Deposit and Withdrawal Fees
BitYard does not charge deposit fees for fiat and crypto currencies. However, users are charged for withdrawals.
Withdrawal fees can be summarised as follows:
- BSC – 1USDT
- ERC20 – 10USDT
- TRC20 – 1USDT
To support the deposit, hold, and withdrawal of cryptos, BitYard provides users with wallets for all of the BitYard supported cryptos.
Users may access their individual crypto wallets via the “My Assets” page located under the “Assets” dropdown menu.
Here, you may deposit, withdraw, transfer, or convert crypto. Additionally, users may view:
- Individual wallet balances in crypto and fiat equivalent.
- Total Assets in fiat.
- Search for individual crypto wallets from a total of 162 available wallets.
While BitYard provides more than adequate security, we recommend that traders transfer idle cryptos held for long-term investment to external private wallets.
BitYard allows users to deposit Bitcoin (“BTC”), Chainlink (“LINK”), Curve DAO Token (“CRV”), Dogecoin (“DOGE”), EOS (“EOS”), Ethereum (“ETH”), Ripple’s XRP (“XRP”), Tron’s TRX (“TRX”), and USD Tether (“USDT”) and also the withdrawal of USDT.
Additionally, BitYard allows users located in Mainland China, Indonesia, or Vietnam to deposit fiat currency.
- Go to the “My Assets” page and select the fiat you wish to deposit and confirm the payment method.
- Enter the amount and complete the deposit.
BitYard allows the deposit of Bitcoin (“BTC”), Chainlink (“LINK”), Curve DAO Token (“CRV”), Dogecoin (“DOGE”), EOS (“EOS”), Ethereum (“ETH”), Ripple’s XRP (“XRP”), Tron’s TRX (“TRX”), and USD Tether (“USDT”).
For withdrawals, however, BitYard only permits the withdrawal of USD Tether.
To make a crypto deposit, go to the “My Assets” page and select the crypto that you wish to deposit by clicking the “Deposit” icon. Copy your BitYard wallet address or scan the QR code and transfer the crypto from your external wallet.
Do note that there are individual minimum deposits for each crypto. Also, attempting to deposit crypto into the wrong wallet will likely result in a loss of funds.
(In order to avoid making an error in entering the address details, we recommend that you scan the QR code to transfer from your private wallet to your BitYard wallet).
For withdrawals, traders and investors are able to withdraw USD Tether by transferring out from your BitYard wallet to an external USD Tether compatible wallet.
It is important to note that, before being able to withdraw USD Tether, users will need to do the following:
- Bind your email.
- Set up a pin.
In order to withdraw USD Tether, go to the “My Assets” page and click on the USD Tether wallet’s withdrawal icon.
- Paste your destination wallet address
- Choose the chain name.
- Enter the number of coins you wish to withdraw.
- Input your pin and then click “Withdraw”.
Please note that there is a minimum withdrawal amount of 15USDT and a daily limit of 1,500USDT. Withdraw hours are SGT Monday to Sunday 0900 – 2100.
Ensure that you have entered the correct information. Incorrect information would lead to the permanent loss of your crypto assets.
BitYard supports spot and CFD crypto trading. In addition, users may also trade commodities, forex, and index CFDs.
In order to place a spot trade, go to the “Spot Trading” platform.
- Select the crypto pairing from the pairings located on the left-hand-side of the page.
- Choose either to enter into a limit or market trade.
- In the case of a “limit” trade, enter the price
- Enter the amount that you wish to purchase and then click “Buy”
- Your trade will then appear under “Open Orders located at the bottom of the page before the order is filled.
Similarly, in order to sell crypto for USD Tether,
- Select the crypto pairing from the pairings located on the left-hand-side of the page.
- Choose either to limit or market trade.
- In the case of a “limit’ trade, enter the sale price.
- Enter the amount that you wish to sell and then click “Sell”.
Via the “Contract” page, users my trade crypto, indices, commodities, and forex CFDs.
In order to trade crypto CFDs, go to the “Contract” dropdown menu and select “Crypto”.
- Select the crypto pairing you wish to trade from the left-hand-side of the page.
- Choose the amount of leverage on the right-hand-side of the page. Leverage limits vary depending upon the crypto pairing.
- In the case of a limit order, enter the purchase price, select your margin, and then click “Buy”.
- If you looking to hold the position overnight, ensure that you click the “Overnight” tick-box.
- Users may also set stop loss (“SL”) and/or take profit (“TP”) ratios.
- Once you have entered into the trade, the details of the trade can be seen under the “Live Positions” section at the bottom of the page.
Similarly, users may sell crypto CFDs with leverage via the “Contract” page.
- Select the crypto that you wish to sell.
- Decide on limit or market sell price.
- Choose the margin and then click sell.
- Users may set stop loss (“SL”) and/or take profit (“TP”) ratios.
As with buying CFDs, if you wish to keep the position open overnight, click the overnight tick-box.
Other Asset Classes
In order to trade forex, indices, and commodities CFDs, the process is similar. Commodities and Indices can be located under the “Derivatives” page and forex via the “Forex” page.
Spot Trade: An easy-to-use trading platform for both beginners and advanced traders looking to gain exposure to the crypto market.
Contract: Offers traders access to commodities, cryptos, forex, and indices by way of CFDs with leverage to enhance yields.
Buy USDT: Users may also purchase USD Tether with credit/debit card.
History: Via the “Spot Trading” and “Contract” pages, users may view order and transaction histories.
Wallets – Balances: Users may view individual wallet balances on the “My Assets” page.
Affiliate and Referral Programs: BitYard affiliates can up to 40% commission on direct and indirect referrals.
SUPPORT: Users may contact customer support via “Live Chat”. Additionally, users can message customer support or send an email to Support@BitYard.exchange.
Social Network Platforms: BitYard has a presence on YouTube, Twitter, and Facebook.
BitYard places a high emphasis on security.
Multi-Layer Security: In addition to 2-Factor Authentication, users must embed additional layers of protection. These include:
- Phone binding: Users must enter a verification code in order to make withdrawals. A code must also be used to reset passwords, and make any changes to account security settings.
- Email binding: By setting an Email Verification, users must enter a verification code in order to make withdrawals. Users must also enter a code to reset passwords, and make any changes to account security settings.
- Pin Setting: 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.
- Withdrawal address Management: Users are able to include withdrawal addresses to facilitate the withdrawal of cryptos.
Wallet Security: BitYard keeps user digital assets in offline deep cold storage wallets. Additionally, the platform users multiple signature technology access for deposits and withdrawals.
Engine Security: The trade aggregation engine is programmed in the kdb+ language, which is a tool often used by major financial institutions in their high-frequency trading programs.
BitYard provides support via email and live chat. Additionally, there is a comprehensive help centre and FAQ section to assist in navigating the platform and addressing general queries.
Email: For any customer support queries, send an email to Support@BitYard.exchange.
Social Media: BitYard also has a social media presence.
Some of the more frequently asked questions available on BitYard include:
How long does it take to complete deposit and withdraw?
Through OTC deposit is real-time. Deposit through external wallets depends on congestions in the blockchain network.
There are three steps for blockchain asset transfers: Initiate – Block Confirmation – Credit
- Initiate: The withdrawal platform or wallet has already performed a transfer;
- Block Confirmation: Complete the block confirmation. If there are congestions and delay in the blockchain network, may cause the digital assets not fully confirmed;
- Credit: After full confirmation, BitYard will credit to your account as soon as possible.
- USDT ERC20：Based on the Ethereum network, same time as the Ethereum Token transfer, it usually takes 10-20 minutes to be credited.
- USDT TRC20：Based on the TRON network, same time with the TRON Token transfer, normally it takes 5 minutes to be credited.
Are there any spreads on BitYard?
BitYard does not add its own platform spread. The prices that traders see on BitYard are the most accurate spot prices without additional spreads and slippages. In addition, BitYard has 24 hours of liquidity. And it’s more fair and secure.
What’s KYC Verification?
KYC stands for Know Your Customer, which can be translated as “Know Your Customer”.
The platform requires users to perform identity verification in order to comply with AML regulations to ensure that the identity information submitted by users is true and effective.
The KYC verification process can ensure the legal compliance of user funds and reduce fraud and money laundering.
BitYard requires fiat deposit users to complete KYC authentication before initiating withdrawals.
The KYC application submitted by users will be reviewed by BitYard within 2 hours.
BitYard is a simple to use crypto trading platform giving traders access to both spot and CFD trading. Additionally, BitYard offers access to commodities, forex, and indices CFD trading, making BitYard a one stop shop for traders looking to also get exposure to asset classes beyond cryptos.
Supporting more than 150 countries worldwide, the platform delivers 24-7 crypto trading with the ability to take advantage of high leverage via its “Contract” trading platform.
While currently only supporting the deposit of fiat currencies from 3 geographies, users may easily purchase and withdraw USD Tether.
With a high emphasis on security, access to a vast number of cryptos, and its global presence, BitYard is a user-friendly and safe trading platform for those looking to access the crypto markets and beyond.
Added comfort comes from BitYard’s licences and jurisdictions where BitYard must comply with local and regional regulations.
- 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