I discovered Bityard in November 2020 and since then, it has become one of my favourite cryptocurrency exchanges for trading.
In this post, I would be sharing with you everything you need to know about Bityard and why I use it regularly.
Including how to:
- Use their various features and products to grow your portfolio and improve your crypto investing strategy.
- Trade profitably using my degen trading strategy which works best on Bityard.
- Leverage the various opportunities on the exchange to earn free crypto.
…and much more.
What is Bityard?
Bityard is a global crypto exchange that supports cryptocurrency, derivatives, forex, and stock markets trading.
The exchange was launched in November 2019 by Bityard Blockchain Foundation Limited (BBFL) with Registration Number: 201938576H.
BBFL is a Singapore-based company headquartered at 60 Paya Lebar Road, #08-55, Paya Lebar Square, Singapore (409051). District 14 (Geylang, Eunos).
Advantages and disadvantages of Bityard
Before we go any further in our Bityard deep-dive, let’s quickly take a look at the advantages and disadvantages of the exchange.
Advantages of Bityard:
Things that you may like about Bityard:
- Supports both crypto and fiat deposits and withdrawals.
- Fast trading engine, processing up to 1 million TPS (transactions per second).
- Bityard is a fully regulated, licensed, and compliant global crypto exchange.
- The website is available in 8 different languages and accessible in over 150 countries.
- The exchange has a simple, clean, and professional user interface that’s friendly to beginners yet sophisticated enough for professionals.
- 24/7 helpful support service via email and live chat. Support response is instant.
- Provides demo account to help you familiarize yourself with the platform and trading before using real money
- Mine 9 different coins daily, including BTC, ETH, etc, and the exchange’s native token, BYD.
- You get 6 BYD immediately after you signup on the exchange and can mine more every day until you reach the maximum of 16 free BYD per user.
- Fully secured with real-time risk audit technology, multiple cold storage wallets, and multi-signature technology.
- Lists only high-quality cryptocurrencies with good potentials.
- There are very few shitcoins on Bityard to lose money on. Thus simplifying your decision on what coin to buy.
- Available on both mobile (Android & IOS) and web.
- Offers the lowest trading fees so you can keep more of your profits.
- Supports trading directly against fiat.
Disadvantages of Bityard:
Things that you may not like about Bityard:
- Bityard is a centralized exchange that requires KYC to enjoy most of its services.
- The minimum amount you can deposit on Bityard is $10. Anything less will fail.
- You cannot withdraw any amount less than $15.
- Bityard is not yet as popular as other big exchanges like Binance, KuCoin, etc.
- There’s a maximum withdrawal limit of $100,000 and that’s with KYC. Without KYC it’s $1,500.
- Offers a limited number of coins and trading pairs compared to other top exchanges.
- For those that love shitcoins, there are very few shitcoins available for you to gamble and lose your money on, on Bityard.
- Limited order types (only supports Market and Limit).
Getting started with Bityard
Visiting the Bityard website for the first time, you will be impressed by how simple and easy it is to navigate.
Everything is where it should be, and as the saying goes, “simplicity is the ultimate sophistication”.
So without wasting time, let’s take a look at the exchange’s user interface and get you a free Bityard exchange account already.
1. The Bityard Exchange user interface
At the top of the page is the main navigation menu containing links to the most important pages and all available trading products on Bityard.
By the far right-hand side of the navigation menu are the Bityard App download links and supported languages.
By scrolling down you will find the recent announcements and other information about the exchange.
Take your time and read through the content of the site to get a feel of what they have for you.
While browsing through the site, if you have a quick question, click the yellow help button by the bottom right-hand side of the page to speak with their support staff.
Their response time is instant, and I’m sure they would be glad to help you.
Now, before we start playing around with the various features of the exchange and testing their products, let’s get you a free account.
2. Registering your free Bityard Exchange account
Bityard has a simple signup process that takes only 5 minutes to complete.
From the homepage, click the Get Started yellow button at the top right-hand side to open the signup form.
You can choose to signup using your email address or phone number, whichever is more convenient for you.
But for the purpose of this guide, I will use the email signup option.
Fill the form accordingly and click the Get Started button below it.
Your Bityard account registration is complete and you’re automatically logged in.
You have also been given about 6.25 BYD tokens as a welcome bonus.
The token is not yet listed for trading until mid-2022.
So, for now, hold it and mine more until you reach the maximum amount of 16 that you can accumulate for free ahead of the launch.
BYD is the native cryptocurrency and utility token of the Bityard Exchange. It’s like BNB for Binance, and KCS for KuCoin.
Now that you have a Bityard Exchange account, let’s discuss the various features and products the exchange has for you to enjoy.
Bityard Exchange features and products
From early 2021 to the present, Bityard has grown exponentially and added new features and products while improving existing systems.
Below are the current most popular features, and products available on Bityard.
- Markets watch
- Buy crypto
- Crypto contracts trading
- Derivatives trading
- Forex trading
- Spot trading
- Bityard copy trading
- Bityard affiliate program
- Bityard daily mining
Let’s discuss each of them and see how you can leverage them to grow your cryptocurrency portfolio.
1. Markets watch
The Markets page is the first item on the Bityard main menu.
Clicking on it will take you to a huge list of all the available cryptocurrencies and trading markets on Bityard.
2. Fiat on-ramp (Buy crypto)
Bityard allows you to buy crypto with any of over 40 different national currencies (fiat) including USD, JPY, INR, CAD, AUD, etc.
Click Buy Crypto, select the coin you want to buy and type in the amount.
The system will show you the total fiat value that you will spend to get the amount of crypto you requested.
If you’re ok with what you see, scroll down and click the yellow Buy Now button using the various payment providers.
The payment service providers you will see depends on the amount of crypto you want to buy and the currency you selected.
Furthermore, some providers have a maximum purchase limit.
For example, I tried executing the above transaction with Banxa, and I got the error message that the limit is $15,000.
Transak has a maximum limit of $500, and RAMP has $10,000. But Paxful went successfully.
So you may have to try various providers and see which one can support your purchase volume.
3. Crypto contracts trading
Cryptocurrency contract trading is Bityard’s core trading product.
In fact, the exchange market itself as, the world’s leading cryptocurrency contract trading exchange.
The exchange allows you to trade cryptocurrency contracts with up to 125x leverage.
To begin trading cryptocurrency contracts on Bityard, click Contract from the main menu and select Crypto from the dropdown list.
As of today, October 1, 2021, there are 13 coins available in the Bityard crypto contract trading market, with USDT as the base or settlement currency.
The crypto contract trading user interface is simple and straightforward as you can see from the above screenshot.
At the centre of the screen is a professional chart of your trading pair with all the indicators you need.
You can choose to view the chart in full screen, take a snapshot, and zoom out and in to get a clearer view, etc.
At the centre-left hand side of the screen is the list of available cryptocurrencies for trading.
You can scroll up and down to view them and select the coin you want to trade or type the coin name in the search box to find it quickly.
Furthermore, on the far right-hand side are:
- take profit and stop loss ratios settings,
- the leverage settings,
- order types (limit and market),
- your buy and sell buttons,
- assets overview, etc.
Bityard charges a trading fee rate of 0.05% for buying and selling in the crypto contract trading market.
Making it one of the lowest fee exchanges in the industry.
4. Derivatives trading
The Bitryard derivatives trading market allows you to speculate on the price performance of 11 traditional assets with up to 200x leverage.
Supported assets are:
- Crude oil
- Mini Dow
- Nasdaq 100
- Natural Gas
- China A50
- Heng Seng
- DAX, and
To trade these markets, click on Contract and select Derivatives from the drop-down menu.
The user interface is the same as that of crypto contracts trading discussed above except for the difference in the amount of leverage you have at your disposal.
The trading fee here is even lower at 0.025%, so you can keep more of your profits.
5. Forex trading
Bityard supports the trading of 7 different national (fiat) currency pairs with up to 400x leverage.
Available forex trading pairs are:
In reality, you’re not buying and you don’t own the actual currencies when you trade on Bityard.
You’re only betting on their price movements in real-time, hoping to make a profit if your predictions are correct.
Similar to other contracts trading on the exchange discussed above, your forex trades are settled in USDT.
Bityard charges 0.015% trading fees for this market.
6. Spot trading
The Bityard spot market supports trading 150 different cryptocurrencies paired against one or more popular stablecoins (USDT, USDC, BUSD) and national currencies (EUR, GBP).
To trade the Bityard spot market, click on Spot Trading from the main menu and select spot trading from the drop-down list.
As you may have already noticed, Bityard maintains the same trading layout you’re familiar with across markets.
On the right-hand side of the spot trading page, you have the orderbook, which lists all the buy and sell orders placed by thousands of traders on the platform.
The current price is the price that the last trade was settled at and changes by the second as trades are being executed in real-time.
Below the order, and by the bottom right-hand corner is the recent trades. Here you will find the list of all recently executed trades with the topmost one being the latest.
As usual, at the centre is your chart and below it, you have your order settings, buy and sell buttons, and transactions history.
6.1 Bityard spot trading fee
Bityard charges a 0.1% Maker and Taker fee which is the same as Binance.
I suppose the fees would be lower when they launch their native token (BYD), and you can pays fees with it.
7. Bityard copy trading
One of the most interesting features of Bityard is copy trading.
Click to read the above article where I discussed copy trading and how you can use it to make money even as a novice trader.
Basically, copy trading involves subscribing to professional traders and replicating their trades on your own account.
So that when they make a profit, you too make a profit. And when they lose, you lose.
8% to 10% of your profit will go to the trader you are copying, and as for your losses, you bear them alone.
If you find a good trader to copy, who has more winning trades than losses, this feature could become quickly profitable.
7.1 Getting started with the Bityard copy trading
There are about 229 “expert” traders you can copy on Bityard.
Don’t take the word “expert” too seriously, as most of them are lousy gamblers.
To find a good trader to copy, click Copy Trading from the main menu to find the list of all traders.
Go through the list of available traders to copy and study their profile and performance.
You can filter the list based on their profit and loss (P/L) ratio in the past 30 days, the Winning rate in the past 30 days, accumulated followers, trading days, and profit rate.
For me, I would prefer to follow the trader with a high winning rate and accumulated followers because this is profit and social proof combined.
However, there could be new and better traders with fewer followers.
So you would have to make some judgment calls based on how you feel about the traders you’re evaluating.
But profit rate is key.
7.2 Following a trader
When you find a trader that you feel has a good track record, click the yellow Copy Trade button on their profile.
Select BOLOTTRADE as in the above screenshot because he has a good profit rate.
Once you pick a trader to follow, you need to customize how much of your funds you wish to allocate to following them.
The first value is the maximum amount you wish to be used per trade.
For example, using my settings above, when a trader places an order, you will use 20 USDT as the principal to place the order.
Whether the trader users $1000 or $1m for their own trade, it doesn’t matter. You will spend only $20 on the same trade.
This way, you control how much you want to risk per trade.
Second is the maximum amount you wish to allocate to copying the trader per day.
Again, as in my above setting, when the total amount used in copying this trader reaches $1000, my account will stop copying any further traders.
This helps you avoid exposing yourself to overtrading or compulsive trading.
Similarly, you can set the maximum copy margin after which you stop copying further trades until the next day.
For example, above, my margin limit is $1000.
And lastly is your stop loss ratio.
Some traders are good but reckless and overconfident, placing trades with no stop loss.
You wouldn’t want to put the safety of your capital in the hands of a stranger on the internet.
That’s why you will proactively set your own stop loss ratio. If the trade goes down 10% below your entry price, you exit and cuts your losses.
That’s what a stop loss does. It stops you from losing too much when the trader you’re copying loses a trade.
Once you’re satisfied with the settings you have made, click the yellow Copy button to start copying them.
You can copy multiple traders with different settings if you have enough capital to allocate to each of them.
8. Bityard affiliate program
Bityard has an affiliate program that rewards you with up to 40% of commissions on all trading fees paid into your account in real-time.
And that’s only the beginning.
The Bityard affiliate program has deep layers of opportunity for partners such as the:
- Google Ads bonus program
- Global partner program
1. The Google Ads bonus program
Bityard provides a Google Ads Bonus Program for affiliates that have their own YouTube channel, Facebook Page, Facebook Group, Instagram, Blog, Website, etc.
Through this special program, they will give affiliates 1% – 2.5% on top of your normal affiliate commission rate.
This extra amount would then be used to run Google Ads to your website, articles, channels where you are promoting Bityard.
2. Global partner program
If you’re an influencer with sizeable social media followers, then this program is for you.
Bityard pays you a fixed monthly salary based on the number of active users you refer to the exchange per month.
This is in addition to your normal affiliate commission rate and free BYD monthly.
- 5 new active users per month = $600 + 20% commission + 600 BYD.
- 10 new active users per month = $1200 + 25% commission + 1200 BYD.
- 20 new active users per month = $2500 + 20% commission + 2500 BYD.
9. Bityard daily mining
The Bityard daily crypto mining program is like a faucet that gives you about 10 cents worth of 8 different coins in addition to BYD.
All these coins (except BYD) would be converted to USDT and credited into your account.
You can use this free money to pay for trading fees on the exchange. It can’t be withdrawn or used to buy other coins or pay withdrawal fees.
To mine daily:
- Login to your Bityard account
- Click Daily Mining from the main menu
- Click the yellow and round Mining button as in the above screenshot
- Click the Transfer button in front of the total amount you mined.
- Confirm the transaction.
- Your free money would be transferred to your account accordingly.
Do this every day to keep accumulating free USDT you can use to pay for trading fees in addition to the BYD daily airdrop.
Securing your Bityard account
Now you know everything Bityard has to offer you and how you can leverage them to grow your cryptocurrency portfolio.
But before you make your first deposit or buy crypto with fiat, let’s take a few steps to secure your account.
To do that, click on your profile icon, and select Account Security from the drop-down menu.
Here, you can:
- Set a trading PIN
- Set up Mobile, Email, and Google verification requirements for logins, withdrawals, password reset, and other security changes on your account.
- Submit your government-issued ID for full KCY verification.
- Whitelist your withdrawal addresses so that even by any chance someone gains access to your account, withdrawals can only be made into the pre-approved wallet addresses.
The more security levels you activate on your account, the more secure it is from scammers.
Remember, y0u can never be too safe.
Is Bityard legit?
Yes! Bityard is operated by a real company with multiple operating licenses from three (3) different countries, the USA, Singapore, and Estonia.
These operating licenses are issued by the:
- Singapore ACRA (Accounting and Corporate Regulatory Authority),
- The American Money Services Businesses (MSBs),
- Estonia’s MTR (Register of Economic Activity) for the European Union.
Making it one of the most regulated and compliant cryptocurrency exchanges in the world.
Bityard is a relatively new cryptocurrency exchange with exceptional user experience.
One thing I admire a lot about the exchange is that it makes it easier for you to choose a good cryptocurrency to invest in or trade.
This is because they list only high-quality coins from the top 500 cryptocurrencies.
Unlike other exchanges with an endless list of shitcoins, any coin you buy on Bityard is a solid project that you can HODL long term with confidence.
Thus saving you time in deciding what to invest in.
And that’s why my “degen” trading strategy which has a 100% success rate is based used on Bityard.
Furthermore, Bityard exchange fees are extremely low and competitive.
They want you to keep more of your trading profits and support your long term profitability.
However, they do have their own shortcomings and grey areas.
First, there’s very little you can do on the exchange without KYC.
Though they’re still better than Binance where KYC is compulsory to anything at all.
Secondly, the team and founders are anonymous.
But I do have direct contact with their public representative, Nissa.
Furthermore, Buacaw Banchamek, (Thailand’s Muay Thai master and international martial arts legend) once endorsed the exchange.
He must have known or met the team before staking his name and integrity to promote them.
Overall, Bityard is a fast-growing, simple and user-friendly cryptocurrency exchange with interesting features.