BYDFi is a one-stop trading platform where you can find all your trading needs fulfilled. It provides a simple UI with fast crypto transactions and provides its services in over 150 countries.
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About BYDFi
BYDFi is a cryptocurrency trading platform or exchange where you can buy, sell, or trade cryptocurrencies. The platform is home to more than 500,000 traders in around 150 nations and continues to grow.
The platform was formed in 2019 and has been functional since. In just three years, the exchange has extended its services to a huge number of people.
Is BYDFi legit and safe?
BYDFi is definitely legit and safe. As per a report, the Business Administration of Singapore (ACRA), the Australian Transaction Reporting and Analysis Center (AUSTRAC), the Estonian Financial Regulatory Authority (MTR), and the United States Financial Supervisory Authority (MSB) have issued financial licenses to the firm.
The communication on the platform is SSL encrypted and helps in avoiding phishing attacks. Furthermore, the majority of crypto is stored in cold storage, offline, so that they are not at risk. The platform also provides real-time risk management and auditing tools and follows a KYC process.
The platform has also partnered with major companies like CoinMarketCap, TradingView, Blockchair, Chainlink, CoinCodex, Travala.com, and many more.
BYDFi Highlights – One-Stop Trading Platform
BYDFi is the one-step trading platform that includes spot trading, futures trading, copy trading, lite trading, and deposits using fiat.
You can easily sign-up on the platform and trade cryptocurrencies or futures contracts. You can also trade Forex and other commodities.
BYDFi fees
BYDFi has no slippage cost and charges around 0.05% fees. The opening and closing fees can be calculated as margin * leverage * 0.05%. This fee is pre-deducted while opening a position, and no fee is deducted while closing.
If you have held a position for less than 12 hours, no overnight fee is deducted. On the other hand, if you have held for more than 12 hours and closed after SGT 05:55:00, you will be charged via this formula:
Margin * Leverage * 0.045% * Days.
Furthermore, BYDFi provides a low trading entry of around 5 USDT.
BYDFi App
BYDFi has a mobile application as well, which consists of almost all of the features that are present in the desktop version. The app is present in the Android and iOS versions as well.
Customer Support
BYDFi has a good customer support system, and you can take help from the live chat functionality. Furthermore, you can also reach out to BYDFi support on Twitter. For more information, you can contact them via Customer Service Team or via Telegram.
Attractive Affiliate Program
The BYDFi platform also provides a lot of ways for users to earn, and one of them is the attractive affiliate program. Via the BYDFi affiliate program, you can become a business partner and earn as much as 40% commission on the trading fees.
The basis of the affiliate program is very simple, and all you have to do is simply refer your friends to earn profits.
How To
- Register
The registration is a very simple and easy process. As seen in the image below, you have to click “Get Started” and enter your mail.
Thereafter, you will be required to enter your email, a password, a verification code sent to the same mail.
The next step is to complete the KYC or Know Your Customer process, as seen in the image below.
If your country is the United States, you can select the same. Thereafter, you need to upload your official documents, and you’re all set.
- Deposit
In order to deposit your crypto in the BYDFi exchange, you have to check the right corner for ‘Deposit’ and then click on it.
You will be redirected to the following page:
You can select the coin you want to deposit and select the chain for the deposit. Next, you will be presented with your deposit address for the network.
- Fiat-gateways – Banxa
You can buy fiat from the platform itself. This is done with the help of BANXA and other services as well. You can click ‘Buy Now’ as seen in the image below.
Next, you will be redirected to the order page where you can buy your crypto with fiat. But the buy amount must be great than 30 USDT.
You can pay with Visa/Mastercard for the same.
- Trade
You can trade more than 1,400+ pairs in the spot trading market and futures as well. As seen in the image below, you can click ‘Spot’ and enter the Spot market and open your positions.
You can click on futures to trade Lite Futures, Inverse Perpetual, and USDT Perpetuals, which will soon be included on the platform.
You can also trade CDF (Crypto, Derivatives, and Forex) on the platform, as seen in the image above. There are a number of contracts under commodity trading and Forex as well.
Furthermore, you can also copy trade on the platform by clicking copy trade and entering the screen as seen below:
You can have a look at all the traders on the platform and decide the trader you want to follow. The trader will get a part of your profits as well.
If you want to apply as a copy trader on the platform, you can visit this official guide. The process is simple, and you have to contact customer support on the live chat. Here are the must-have requirements:
- Deposit ≥ 500 USDT
- Complete KYC
- An active account for >15 days
- Trading volume > 10,000 USDT with >10 Orders
- Multi or same IP Address with other Copy Trader is prohibited
- Account’s profit rate >55%
- Affiliate Centre
You can click ‘Affiliate Centre’ and enter the page below:
This includes all the things that you need to understand from being an affiliate partner of the platform. The rates for traders are different trades.
You can also enter the BitYard Global Partner program by fulfilling a number of requirements which can be found here.
Conclusion
BYDFi is an all-in-one cryptocurrency exchange and supports almost every type of trading that a trader requires. Registering and depositing assets on the platform is fairly easy, and new users can use copy trading features.
Furthermore, the platform also supports a great Affiliate System using which you can become a partner at the firm and earn up to 40% commission.
In all, BYDFi is a secure and amazing way to buy, trade, and store cryptocurrencies. Moreover, you can find more such cryptocurrency exchange reviews on TheCoinRise.
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