BitYard Review 2022

BitYard is recognized as one of the most prominent and successful cryptocurrency contract exchanges in the world. BitYard is a cryptocurrency asset trading platform that operates in more than 150 countries and has its headquarters in Singapore. Its services are known for being user-friendly, quick, and secure. The American Money Services Businesses, the Singaporean accounting and Corporate Regulatory Authority (ACRA), and the MTR of Estonia, which represents the European Union, are the regulatory bodies that oversee the BitYard broker. Additionally active in Southeast Asia, BitYard serves the digital asset market with a focus on government-backed blockchain technologies. However, I encourage you to continue reading this BitYard review so that you can acquire additional information regarding the exchange platform.

What exactly is the BitYard?

In the year 2019, BitYard was founded in the city-state of Singapore, which is frequently referred to as the Asian Technology Capital. It has been suggested by a number of reviews that BitYard has a reputation for being a world-leading and well-known crypto contracts exchange. BitYard’s business philosophy is a “complex contracts simple trade,” and the company strives to make the trading experience less complicated for its customers by providing them with a number of trading tools that are designed specifically for their use.

The idea behind the BitYard brand is that “BitYard = Simple,” and the idea behind what they offer to their customers is that “BitYard is best for novices.” In addition, this exchange provides a user interface that is simple to navigate, and traders do not face any difficulties or roadblocks when attempting to access this platform. Furthermore, this exchange provides its customers with a trading fee that is among the most competitive in the industry.

This platform offers traders the ability to place trades with a minimum of 5 USDT and a maximum of 20,000 USDT, with an interest rate that is 0.05% lower than that of the trading exchange industry as a whole. This is one of the most significant advantages of using this platform. The trader needs to be aware that the reward will be proportionally greater the more risk there is in the market. One of the features that are regarded as being beneficial to the customers is the provision of leverage ranging from 5x to 100x. This feature is offered by the company.

BitYard provides its traders with transaction services for digital contracts that are uncomplicated, safe, and encrypted, and these services are delivered in a very timely manner. It had just recently acquired a brand ambassador in the form of Buakaw Banchamek, the reigning champion of Thai boxing, in order to promote its services. It is one of the exceptional ideas because no other cryptocurrency trading platform has a brand ambassador to promote its products. This makes it a standout among ideas. The primary objective of acquiring a brand ambassador is to increase the number of business partners from their native nation as well as several other regions.

BitYard’s Main Attributes and Functions

The following is a list of some of BitYard’s features that are notable and worth mentioning:

• BitYard is committed to the philosophy that it calls “Complex contracts, simple trade,” and the company’s primary goal is to provide its traders with a trading environment that is easier to understand.

• Leveraged trading instruments on a variety of cryptocurrencies are just one of the products that this broker has available for purchase. When compared to other brokers such as BitMEX, BitYard provides traders with easier-to-use tools, and their one-of-a-kind contract offerings make it easier for traders to place trades without experiencing too much anxiety.

The trader only needs to register with an email address or a mobile phone number in order to open an account with BitYard, making it one of the most user-friendly cryptocurrency exchanges out there. They need only wait thirty seconds to become a customer after they have completed the registration process.

• At the moment, this broker supports major digital currencies, which enables users to make use of cryptocurrencies as a form of asset. This broker also supports the Indonesian Rupiah (IDR), the Vietnamese Dong, and the Chinese Renminbi. BitYard is working on integrating support for multiple fiat currencies in the near future.

• The user interface of BitYard and its mobile apps were designed in such a way that they are user friendly to its traders. This is in contrast to the user interfaces of other contract exchanges, which are very difficult to navigate and require the traders to be familiar with several features in order to use the platform.

The process of depositing funds into the trader’s account is very simple, and this broker is willing to facilitate transactions using sixteen different cryptocurrencies.

• One of the most advantageous aspects of BitYard is that it is recognised as one of the very few leveraged cryptocurrency exchanges that are regulated by authorities, and it possesses regulatory licences. This is one of the reasons why BitYard is considered one of the most advantageous features. These licences are from the United States of America, Australia, Singapore, and Estonia respectively.

Even though it just started operating a year ago, BitYard already has its services available in more than 150 countries around the world. In addition, in order to better assist customers coming from all over the world, the company’s website has been translated into eight distinct languages. Additionally, it provides a system that enables the agents to act as facilitators for the transfer of funds between superiors and subordinates in the organisation.

• This broker provides assistance to users when they are investing or trading in cryptocurrencies and is available to do so. This platform enables trading in cryptocurrencies as well as over-the-counter transactions. It guarantees that it will deliver as promised by adhering to their concept by providing the concept of “safety, ease, and swiftness.” There are a number of cryptocurrency trading platforms that do not support new traders and do not permit them to trade in the cryptocurrency market. In light of this, the trading platform that the broker provides is one that even a novice trader should have no trouble utilising and navigating.

Regulations for the Bityard

It is common knowledge that only one or two jurisdictions are home to the majority of the regulated exchanges in the world. However, BitYard is governed by four different jurisdictions, which demonstrates its regulatory status and indicates that traders may use it without any concerns. BitYard is the trading platform that comes out on top when it comes to offering its services to traders who are looking for an exchange platform that is straightforward and easy to use. This broker is subject to regulation by the following regulatory authorities:

• AUSTRAC, which represents Australia

• The American Businesses That Deal With Financial Services

• The Mutual Trade Representation of Estonia with the European Union

• The Accounting and Corporate Regulatory Authority of Singapore (ACRA)

Additional Functionality Provided by BitYard

BitYard has a global presence, is regulated by top-tier regulators, and is active in a number of countries around the world. It also has its reach in a number of these countries. Let’s take a look at several additional and one-of-a-kind features that are made available by the platform:

• Trading in cryptocurrencies and over-the-counter (OTC) commodities is supported by this broker (over-the-counter).

• In order to protect their customers, this broker provides a KYC authentication service.

• It requests multiple offline signatures.

• Provides a secure location for the storage of cryptocurrency assets.

• A complete money-back guarantee is provided by this broker.

• This broker gives away free coins to all of its customers as part of various affiliate programmes and promotional endeavours.

• It provides a mobile app that is compatible with mobile devices running either iOS or Android.

• Stop-loss and take-profit potentialities are both included as part of its risk management features.

• The fees for transactions are only 0.05%, and there is also an option to detect mining fees, which can further reduce the cost of using the network.

• Traders can become familiar with the platform with the help of this broker’s demo account, which provides demonstrations of the various features of the platform.

Benefits of Using the BitYard Exchange

Let’s go over some of the benefits that BitYard provides, shall we?

• The guiding principle behind the BitYard brand is “BitYard = Simple,” and this platform makes both its user interface and its contract trading tools accessible to novices. The traders are given the opportunity to trade with leverage as a result of this, despite the fact that they have no prior experience in trading. In addition to this, it makes it possible for the merchants to generate income through the use of the daily mining programme.

The maximum amount of USDT 100,000 that traders are able to withdraw from BitYard is considered to be a higher amount than what its competitors offer. This platform provides traders with 16 different asset options, whereas its competitors only provide 8 different options for traders to choose from. Traders who are looking for a wide selection of digital assets should use this platform.

• Even though there are a variety of online trading platforms for crypto derivatives available on the market, these platforms offer more sophisticated tools for more seasoned traders, and the user interface and operations of these platforms are extremely difficult to understand for new traders. As we have mentioned previously, the user interface of BitYard was developed in such a way that it is straightforward and uncomplicated for new traders to use. Aside from that, it has not added an excessive amount of functions that could be overwhelming to new traders.

• Unlike any other contract exchange, it provides seven different ways to make deposits. It provides over-the-counter (OTC) services for traders, allowing them to buy USDT at very low trading fees, which apply to new users as well as institutions.

• In addition, it places a high priority on the safety of the traders’ funds by implementing a number of preventative safeguards. These safeguards include Know Your Customer checks for deposits only, multiple offline signatures, anonymous trades, real-time risk audits, cold storage, a complete refund warranty, and many others.

• This broker provides an extensive selection of promotional opportunities and client acquisition methods, such as providing new traders with a discount of 20% on their trading margin and making first-time depositors eligible for promotional coupons.

BitYard’s BYD Token Details

• When compared to other derivative platforms, one of the special key features provided by the exchange is that it provides its customers with the possibility of receiving BYD, the platform token, which is offered on their daily mining page along with a number of other cryptocurrencies. This is one of the ways in which the exchange differentiates itself from other platforms.

• BYD, the platform’s native token that can be compared with BNB of Binance, plays a very important role in the BitYard ecosystem. Additionally, it is anticipated that BYD will be listed on several significant exchanges in the near future, which demonstrates that BYD has a great deal of potential. BNB of Binance is a token that is used on Binance.

• At the moment, this native token can be utilised to pay for a portion of the trading fees in BitYard, which in turn provides the traders with a discount on those fees. Additionally, there are 210 million BYD tokens in circulation, of which 10.24 million have been set aside for the mining programme. This brings the total volume of BYD tokens to a total of 210 million. When a user activates their BitYard account, they are rewarded with 6 BYD. Traders on BitYard.

BitYard Evaluation: The Good and the Bad

The following are some of this trader’s advantages and disadvantages:

Pros:

• BitYard’s user interface is straightforward and intuitively designed.

• It offers one million transactions per second, making it the sector’s fastest trading engine at the present time.

• Traders can deposit 7 major digital currencies

• There is a Know Your Customer procedure for deposits.

• Provides its traders with access to a demo account

• At the moment, it can trade a total of sixteen coins.

Cons

• Withdrawals can only be processed in USDT if the trader so chooses.

The Procedure for Opening a BitYard Account

• The process of opening an account on the platform is very straightforward, and it does not take more than a minute to complete. In addition, there is no use of fiat currency on the platform; instead, the stable coin USDT is used as the primary currency for all of the trades that take place on the platform. The trader is able to make deposits using the following seven digital currencies: BTC, XRP, ETH, TRX, USDT, and HT. This number of digital currencies is considered to be high when compared to the number of digital currencies supported by other crypto contract exchanges.

• The BitYard platform can be accessed in a total of eight distinct languages, including English, simplified Chinese, Russian, Traditional Chinese, Korean, Vietnamese, Indonesian, Japanese, and Portuguese. As a result of this, the company is obviously focusing on attracting customers from Asian countries, as evidenced by the range of languages it provides for its users.

• The trader needs nothing more than an email address or a mobile phone number in order to sign up for the trade platform; with either of these pieces of information, the trader can be registered on the platform in less than a minute.

• The user must navigate to the registration page that is provided on the website. Once this step has been completed, the user will receive a personalised BitYard wallet, and they will then be able to immediately begin trading.

• The platform provides a number of benefits, one of which is a registration process that is noticeably simpler than the one required by competing cryptocurrency exchanges, which necessitates the submission of numerous pieces of information as well as a verification step. This makes the platform stand out from the competition. The traders can begin trading their first Bitcoin contracts in a matter of seconds with the assistance of this platform.

BitYard’s Demonstration Account

This platform provides its users with a demonstration of their accounts, which is one of the most useful features that it has to offer. Traders can gain an understanding of the trading platform, including its fundamental capabilities and features, through the use of this tool, all without having to risk their own money. In addition to this, it is provided free of charge, the process of registering an account does not take much time, and the trader is not required to register a separate test account in order to engage in trading. On a platform, they have the ability to switch between different accounts, such as a demo account and a live account.

Trading of Cryptocurrency Contracts on BitYard

• Once the user has added the cryptocurrency as a deposit and it has been cleared, they are able to check out the user interface, which is incredibly easy to use, and experience the seamless trading process that BitYard provides.

• According to the statements made by BitYard, the company claims to provide a trading engine that is the quickest in the trading industry and that it can match 1 million transactions per second. As novice traders, they have the option of selecting between a 5x and 100x leverage, which provides the traders with the possibility of multiplying their profits. Caution is advised because greater leverage can also result in greater potential losses if the market positions are not favourable.

Pricing information for the BitYard platform is obtained from a third-party source. This platform takes prices from a number of major exchanges like Binance, Huobi, and OKEx and uses an approach called Kline weighted average to calculate an average price.

Innovative Financial Instruments

• This broker makes it possible for traders to perform accurate analysis of their trades across multiple screens by deploying and plotting technical analysis trend lines, viewing across several detailed timeframes, and scouting long positions by integrating professional-grade TradingView tools and charts.

• Additionally, this broker provides a variety of layout switch features, which allow the user to change the background colour of the exchange depending on whether they are trading during the day or night and vice versa. In addition, if a trader wants to trade Bitcoin with leverage or any of the other leading cryptocurrencies that are available for margin trading options, they can easily achieve this goal by utilising the margin tools that are provided by the interface.

• In addition, BitYard enables leveraged cryptocurrency trading around the clock, which provides a significant competitive advantage in the form of zero-based spread fees and consistent liquidity. If a trader is interested in Bitcoin contract trading, then they can take advantage of the leveraged trading products that are provided by this platform and reap the benefits of doing so.

Buying and Selling Interface

• The trading interface that the BitYard platform provides comes with a full complement of features and functionalities as well as an intuitively designed user interface. As we have mentioned previously, BitYard = Simple ensures that the platform is not overly intimidating for users who are just beginning to experiment with it. In addition to that, it provides assistance for a variety of technical indicator patterns as well as charting tools.

• One of the considerations you should make when searching for the best cryptocurrency exchange is the commission structure of the platform. For the purpose of carrying out the trade and maximising one’s profits, it is essential to investigate the associated costs and become familiar with the exchange.

• Traders who use this broker pay very low fees, even for the smallest transactions, such as those involving 5 USDT to as much as 20,000 USDT, with a percentage rate of 0.05, depending on the size of the transaction. In addition to this, it provides leverage ranging from 5x to 100x.

• The maximum amount that can be withdrawn from your BitYard account is 100,000 USDT, which is the same as the maximum amount that can be withdrawn from your BitMEX account.

BitYard Fees

When a trade position is opened, BitYard charges one-time transaction fees ranging from 0.075% to 0.05% of the total trade amount. If their particular requirements are satisfied, the reward will also be reduced by another 10% as a consequence. Because there is no need for an order book and the platform provides its traders with the much-needed liquidity, maker and taker fees are not charged by the platform. If the traders are used to the normal cryptocurrency exchanges, where these fees are charged, these fees are not charged by the platform.

You have the option of taking out a loan from the trading platform in order to participate in margin trading or other forms of leveraged trading. Additionally, the traders are required to pay a fee for overnight storage. This broker does not charge any fees associated with deposits; however, there is a fee of 2 USDT associated with withdrawals. You can check out this link if you are interested in learning more about the comprehensive fee structure of BitYard.

Deposit and Withdrawal Options Available on BitYard

Deposits

The use of various cryptocurrencies for both the depositing and withdrawing of funds is supported by BitYard. The following cryptocurrencies can be used to deposit funds into your BitYard account:

• What is Bitcoin? (BTC)

• EOS (EOS)

• Ethereum (ETH)

• Huobi (HT)

• Undulation (XRP)

• Use a tether (USDT)

• Tron (TRX)

The use of fiat currency to support the deposit is common among BitYard traders in the countries of Indonesia, Vietnam, and mainland China. Traders who are located outside of the aforementioned regions will be required to purchase a cryptocurrency that BitYard accepts as a deposit before they can make a transaction with the exchange. Traders who already possess BitYard supported currencies have the additional option of transferring cryptocurrencies using a wallet-to-wallet transfer. This option is available to them. The trader is required to choose the most suitable cryptocurrency wallet from those that are presented on the wallets page, and then they must click the option to deposit funds.

Withdrawals

When making withdrawals, investors and traders can withdraw USDT, and they can put their cryptocurrencies into wallets associated with the Tether digital currency. The withdrawal of fiat currency from this broker is not supported for developed markets. The trader needs to find the wallet from which they want to withdraw the cryptocurrencies before they can make a withdrawal from their cryptocurrency account. Before initiating the withdrawal process, traders who wish to withdraw any currency other than USDT are required to first convert their funds into USDT.

Methods of Payment Utilizing BitCoin

This broker provides clients with access to a first-rate trading platform that facilitates contract-based trading in cryptocurrency. BTC, USDT, XRP, ETH, TRX, HB, EOS, and BYD are some of the cryptocurrencies that are supported for trading. Other cryptocurrencies include: The BitYard platform gives users the ability to trade and invest in multiple cryptocurrencies, as long as those cryptocurrencies are supported by BitYard or OTC. Traders who already possess cryptocurrencies that are supported by the platform have the ability to move those cryptocurrencies into wallets that are provided by the platform.

Offerings and Commissions Available on BitYard

BitYard provides the traders with a number of different offerings and assists them in earning free crypto coins. Trading bonuses, beginner rewards, and promotional video contests are a few examples of these types of promotions. The traders can receive up to sixty percent of the trading commissions that are earned through the affiliate programme if they participate in the commission from affiliates programme. On the affiliate page of the website, the traders can find the link to the referral page.

Wallets made with BitYard

This broker gives its customers access to a wallet that is compatible with the cryptocurrencies that are supported by the exchange’s safety measures. In addition, users can easily navigate to the my assets page on the website in order to view the wallets that are currently available.

Order Categories Offered by BitYard

The order form that is provided by the platform is very easy to understand, and the following types of orders can be used by traders when conducting business on the platform:

• It is possible to place a market order on the platform, and the order will be placed precisely in accordance with the market rate. It is also possible to think of it as the most recent price that has been transacted on the platform.

• A limit order can be placed not on the current market rate but rather on the trader’s price, and the order will be carried out once the price reaches the predetermined goal. This can go either above or below the buy order, depending on your preference.

Advantages to Be Gained from Utilizing BitYard

Let us examine some of the advantages that BitYard has to offer, including:

• This broker provides its customers with a sophisticated yet user-friendly cryptocurrency trading platform.

• One of the most significant advantages provided by this broker is that it features an affiliate program, which provides participants with the opportunity to earn a commission equal to sixty percent of the fees charged by BitYard.

• In addition, it gives traders access to interactive technical charts that can help them improve their portfolios and support their trading activities. The trade page of the website offers interactive charts for users to peruse.

• Traders and investors can personalize their experience with this broker by taking advantage of the customizable layout. Additionally, they have the ability to tailor the charts to their particular trading needs.

• BitYard provides its users with a specialized center, which makes it possible for them to learn how to trade and navigate the platform. There is a guide for newcomers, information, announcements, and a glossary of terms all located in the section titled “Frequently Asked Questions.” In addition to that, there is also a video section that provides traders with helpful guides that will allow them to trade effectively.

• One of the most significant advantages of using this platform is that it provides traders who are interested in increasing their profits with a leverage that ranges from 5x to 100x.

Trading can be done on the go with the BitYard trading platform’s mobile app. Downloads of this app can be obtained from both the Google Play Store and the Apple App Store, making it convenient for traders who want to conduct business while on the move.

• The trading platform that is provided by BitYard is extremely straightforward, and it is suitable for use by novice investors who do not have any prior experience in the field of cryptocurrency trading.

• This platform provides risk management capabilities that can be utilised to mitigate the effects of market risks. These capabilities include options for stop loss and take profit.

The Affiliate Program for BitYard

Traders using the BitYard platform have multiple opportunities to earn profits thanks to BitYard’s generous offerings. The user has the ability to become a business partner on the exchange through the use of an affiliate system, and they have the potential to earn up to sixty percent of commissions on BitYard’s trading fees generated by people who they have referred to the platform. In addition to that, the affiliate system is very intuitive and open to public scrutiny. By inviting their acquaintances to use the platform, the traders have the opportunity to earn a profit.

Receiving BYD, which is the native token issued by the BitYard platform and which plays a very important role in the system, is one of the ways that users on the trading platform can make money. BYD is also one of the reasons why the system is so important. BitYard is working on getting their BYD token listed on multiple exchanges in the near future. This token has potential for growth that is comparable to that of the BNB token on Binance. To accurately enhance the market price, BitYard obtains its pricing data from the three major spot trading exchanges, such as Binance, Huobi, and OKEx. In contrast to other platforms, this one does not require its traders to pay a spread for the trades they make.

Key Opinion Leader, or KOL, is an acronym for the BitYard KOL Program.

BitYard provides a dedicated KOL (Key Opinion Leader) support programme, which is backed by a rewarding incentives framework, in order to compete with larger exchanges in the cryptocurrency sector. This broker provides their KOL partners with a commission of forty percent, which indicates that KOLs receive a daily salary that is proportional to the number of users brought in by BitYard. In addition, the monthly value of these invitation rewards can reach a maximum of 100 BYD.

Additionally, Key Opinion Leaders have the opportunity to earn an invitation bonus of three months, and those who qualify as KOLs by achieving the required volume of trades in three months are rewarded with an additional bonus. KOLs who bring in new KOL prospects by referring their colleagues to this platform are eligible for an additional lucrative incentive. Additionally, those who have higher trading volumes from their reference are eligible for a daily payment, which can reach up to 15 USDT per day and is offered to them.

In addition to that, KOL provides the following 5 support plans:

• Minimum 40% rebate

• The cost per day for the KOL

• A bonus for each and every active user for the first three months

• An incentive for reaching the level of a qualified KOL

• An incentive for recommending a KOL is provided.

Security Measures Examined in the Bityard Review

BitYard protects investor assets and the trading platform with a high-level security environment, which is enabled with SSL technology. Any time a trader wants to make a withdrawal from the BitYard trading platform, BitYard requires them to have a pin in place first. This is done for safety reasons. In addition, in order to make a withdrawal, the trader is required to enter the pin number each time.

SMS authentication is yet another feature that is of the utmost importance. The user is responsible for configuring an SMS authentication. In order for them to be able to make a withdrawal, reset their passwords, or make any other changes to the security settings associated with their BitYard account, they are required to enter the verification code. When a trader wants to make withdrawals, reset their passwords, or make any other changes to the security settings for their account, they are required to enter the verification code in order to set up an email verification. Users have the ability to review their own login records, which, in turn, strengthens the security settings and generates a report detailing any unauthorised hacking or logins.

BitYard Mobile App

The mobile app can be utilised for this purpose in the event that you are unable to be present at the desk but still wish to engage in trading while you are away from it. The desktop platform and the app that is offered by the BitYard platform share the same features, and the app by BitYard offers a great deal of functionality, just like technical charts. The trader is able to monitor their positions, and it also provides its traders with the capability to place one-touch orders. Both the Android and iOS versions of the BitYard app are currently available for download from the respective app stores (Google Play and iTunes Store, respectively).

Support for Customers of BitYard

• BitYard provides dedicated customer support, making it possible for traders to get in touch with the company whenever they experience difficulties or issues.

• Traders can get in touch with the BitYard team via email, Telegram, or the website’s online support system.

• Traders can chat with the robot by using the online support link, or they can request to chat with a representative by simply clicking the support icon on the BitYard trading platform directly. Both of these options are available to them.

• BitYard provides its customers with dedicated customer support, which enables them to access 24–7 online support, at which point the traders can get in touch with them if they are having any issues.

Conclusion: Is BitYard a Legitimate, Risk-Free, and Secure Option?

As a result of our research and review of BitYard, we are able to say that BitYard is a reliable and secure platform that can be used for trading cryptocurrency contracts. This means that BitYard is suitable for use by new traders. Because this platform is straightforward to use, it enables traders to engage in cryptocurrency transactions without the need to make use of intricate features and capabilities. Any new trader who uses this exchange security will discover that the platform is one of the best contract trade platforms currently available on the market, and by utilising leverage, trading will become significantly simpler for them. In addition to that, it provides its traders with a selection of different cryptocurrency pairs.

FAQs

Is There a BitYard App for Mobile Devices?

BitYard provides its traders with a mobile app so they can trade while they are away from their computers. The mobile app provides a variety of functionalities, including one-touch order features and technical charts to monitor trading positions. Additionally, the app provides a variety of functionalities. The app can be downloaded from the Google Play Store and the Apple App Store, making it possible for traders to improve the quality of the experience they have when trading on an exchange.

Is BitYard a Reliable and Safe Wallet Option?

BitYard is an online trading platform that is reputable for its high level of safety and protection, as well as its four industry licences and oversight by regulatory agencies. In addition, this trading exchange platform has been granted a licence and is subject to regulation by the Financial Crimes Enforcement Network’s MSB in the United States, the ACRA of Singapore, the MTR of Estonia, and the AUSTRAC of Australia.

Who is the Bityard Ambassador, if Anyone?

BitYard, on the other hand, helps to promote its platform by acting as a brand ambassador for the company. This is in contrast to a number of other leading cryptocurrency exchanges, which do not have such a representative. This platform has been successful in securing a partnership with Buakaw Banchamek, who is widely regarded as one of the best athletes in Thailand. Banchamek is a leading champion in Thai boxing.