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The crypto exchange market has recently seen the birth of new companies to study before entering the sector. With an ever more comprehensive market offer, it is up to the individual investor to understand the industry’s best operator.
Keeping in mind that different traders are better suited to different types of investors, today we will impartially talk about BitYard, a Singapore-born trader. BitYard launched in 2019 as a cryptocurrency exchange that offers a range of services to its customers.
One of the most distinctive features of BitYard is the possibility of investing in perpetual crypto futures. This tool eliminates the expiration problem of futures contracts, allowing traders to open positions for as long as they want, closing them without worrying about a maturity date.
BitYard claims to have over 500,000 users actively operating on the crypto market from more than 150 different countries. The website works as a crypto derivatives trading portal, aiming to differentiate itself from the rest of the market with a user-friendly interface.
BitYard’s main features are summarized in the sections below.
Is BitYard legit and safe?
Each company in the investment industry legally needs to obtain a series of licenses and certifications. While we will give more details in the following section, the number of international financial regulators licensing the project is a good sign for investors.
Therefore, one could imply that BitYard is a secure and broadly regulated operator in the investment industry.
BitYard possesses several regulatory licenses, allowing it to operate internationally. More specifically, the institutes that granted a regulatory permit to the company are:
- Australian Transaction Reports and Analysis Center (AUSTRAC)
- Accounting and Corporate Regulatory Authority of Singapore (ACRA)
- Estonia Financial Supervision Authority (MTR)
- U.S. Financial Crimes Enforcement Network (FinCEN).
BitYard has concluded a series of strategic partnerships in the crypto sector. Among the many examples, one of the most recent is the agreement signed with Revain, a popular blockchain-based review website.
A series of partnership operations have also been concluded to enhance the possibilities of making FIAT deposits on the platform. Among these, we can mention the deals with BANXA, Ramp, Transak, and Xanpool.
Furthermore, BitYard has a Global Partner Program designed to create a marketing network with active users in the crypto community. This initiative divides the partners into three categories, junior to senior partners, with different perks and requirements.
BitYard Highlighting – One-Stop Trading Platform
Having made the necessary premises on BitYard, we will provide more information on the exchange’s activity in the following sections.
Over the years, global investor demand for a spot market has grown more and more. So, not surprisingly, many major crypto exchanges have started offering this trading method in the last two years.
BitYard allows access to the spot market through over 400 trading pairs, with cryptocurrencies connected to essential projects in the DeFi universe.
Inverse Perpetual Futures
A perpetual future is a financial contract where counterparties agree to non-optionally sell or buy an asset at a given point in time. When you apply this concept to the blockchain industry, perpetual futures typically use cryptocurrencies as the base currency of the contract.
The financial community labels this behavior, which derives from high crypto volatility and a frequent lack of regulations, as “inverse.”
BitYard gives its users access to dozens of Inverse Perpetual Futures on the crypto market.
Lite Trading (CFDs)
The Lite Trading feature of the portal lets traders accesses the crypto market through Contracts For Differences (also known as CFDs). CFD traders do not own coins, speculating as a benchmark over a derivative contract with cryptos (or crypto pairs).
The portal lets investors operate on commodities and Forex pairs through these instruments.
Another essential feature in the BitYard universe is the one labelled as “copy trading”. Particularly popular among new and inexperienced investors, copy trading lets users passively follow the strategy of other traders.
The platform creates, in this case, a social dimension, allowing the traders of its community to come together and invest following shared strategies. BitYard shows the investors having higher PNLs, win rates, followers, and profit rates to search for someone to copy easier.
All users can filter the list of traders to find the investors following their chosen strategy. While these operations may appear easy, it is essential to remind the readers that trading is a complex operation requiring financial knowledge and experience.
While copying another strategy may appear straightforward, all trades on the market come with a risk of losing money.
Deposit with FIAT
Thanks to the partnerships previously mentioned, BitYard allows you to deposit FIAT currency to trade on the financial market. If you are a crypto enthusiast, you will know that many platforms only offer the chance to swap cryptocurrencies with other coins.
New investors who do not yet own cryptos generally need to exchange their favourite coins through third-party websites. BitYard has established a series of partnerships with payment companies that allow FIAT money on its system.
While the updates in the BitYard project are generally announced on an ongoing basis, we know that several features are coming to the portal in 2022. Among these, we can mention the following ones:
- Inverse perpetual futures update: several pairs (BTCUSD, ETHUSD, DOTUSD, and XRPUSD) will be available in the endless future section on PC WEB
- New crypto integrations: a few days ago, the team announced the coming integration of the Foundation for Interwallet Operability (FIO) protocol in its system
- USDT perpetual futures: a series of endless lots settled in USDT is expected to come to the platform.
Many new operators in the crypto exchange universe enter the market proposing, on average, low fees for investing. For example, spot, inverse, and USDT contracts all have a 0.1% trading fee for each operation on the market.
Conversion operations between coins have transaction fees from 0.1% to 0.15%. CFDs have a slightly more complex fee structure, based on the leveraged margin (i.e., margin multiplied by leverage):
- Opening and closing fees: the leveraged margin is multiplied by a 0.05% fee
- Overnight cost: the leveraged margin is multiplied by 0.05% for each day the trade is open
A similar structure applies to all the other derivatives trading:
- Opening and closing fee: the leveraged margin is multiplied by a 0.025% fee
- Overnight cost (Forex): the leveraged margin is multiplied by 0.015% for each day the trade is open
While depositing money on BitYard is free, each withdrawal operation will cost 2 USDT (or equivalent).
Since the crypto market is famously volatile, the ability to quickly check an investment can make the difference between a good or bad investment. The project has a mobile app, available on both iOS and Android systems, that lets users trade on the go.
BitYard Customer Support
BitYard has developed a Help Center and FAQ section to provide its users with valuable answers to the most common questions among traders. It is also possible to click on the “Help” button to chat with a bot.
If none of the methods above can solve an issue, other channels such as email and telegram are available and work 24/7.
BitYard Attractive Affiliate Program
To promote the platform, BitYard has launched an affiliate program organized as follows:
- Referrals: users can share an invitation link with other traders interested in joining the platform
- Direct advocates: the person who shared a successful referral becomes a natural advocate on BitYard, receiving a bonus
- Indirect advocates: If the first referral becomes a direct advocate, the latter will upgrade its status and become an indirect advocate. This category will receive a bonus if the original referrals bring other traders to BitYard.
The rewards involved in the program are equal to up to 40% of commissions on all the trading fees.
To complete our review, we provide in the following sections several essential details to guide users on BitYard.
By clicking on “Get Started”, users will access a page where they will need to enter the necessary information to create their accounts and get a Mystery Box when finished KYC.
Under the “Account” section, it’s possible to select “Deposit”. This click will let users send coins or FIAT money to their BitYard account.
The partnership with Banxa lets users deposit fiat currencies on BitYard to buy cryptos. Alternatively, Transak and Ramp also offer this kind of service on the portal.
The Spot market lets users negotiate over 400 pairs, and it is accessible by clicking the “Spot” button on the portal’s main menu.
The “Futures” button allows traders to access both the perpetual and lite futures market. As explained in the review, the first option lets users exchange futures with no maturity date, while the second one grants access to CFD instruments.
By clicking on “Copy Trade”, users will be able to browse the most famous investors on BitYard. Once traders find a fellow investor they would like to copy, they will need to click on the “Copy Trade” button next to each user’s name.
The affiliate program works as described in the dedicated section of the review. In addition, the system’s design helps boost referrals of BitYard’s users to join the platform.
Join Affiliate Program
The multiple affiliate system lets users join BitYard, a platform with global partners helping it respond to wide market demand.
To join the program, the website provides each user with a referral code that it can share with anyone outside BitYard.
BitYard presents itself as a modern crypto derivative platform with multiple international regulations. Having more than 500,000 users worldwide, the exchange has surpassed the initial start-up ambitions, moving towards a more mature phase.
The following steps in BitYard’s roadmap may represent a significant boost to its activities, helping it pursue its growing popular trend in the crypto universe.