Trading Bitcoin contracts with leverage is simplified by Bityard, a Singapore-based margin trading platform with lots to like under the hood.
Margin trading Bitcoin and other leading blue-chip cryptocurrency assets like Ethereum, Ripple, Bitcoin Cash, and Litecoin aren’t always easy for beginners. However, Bityard, an up-and-coming cryptocurrency exchange for trading crypto derivatives with leverage, has taken the complexity out of contracts. The result? Simplified beginner-friendly cryptocurrency contract trading.
In November of 2019, Bityard officially launched out of Singapore, the world’s leading tech hub for all things blockchain-related. Tellingly, Bityard went live with a full-suite of certifications and licenses, counting oversight from America’s MSB, Singapore’s ACRA, Australia’s AUSTRAC, and the EU’s MTR amongst them.
Apart from offering traders peace of mind knowing the exchange is fully regulated and compliant with international laws, Bityard has gone to great lengths to ensure that the user experience is as intuitive and efficient as possible. By streamlining the process from signup to engaging in crypto contract trading to a few simple steps, Bityard makes it easy to focus on what matters most: profitable cryptocurrency trading. Best of all, Bityard lets users start trading with as little as 5 USDT, lowering the cryptocurrency trading barrier to entry once and for all.
Signing Up for Bityard Is Quick & Painless
Amongst the many things to like about Bityard, the platform’s frictionless registration process stands out. Whereas other cryptocurrency exchanges require endless amounts of information and verification processes, Bityard gets you from being account-less to trading your first Bitcoin contracts within seconds.
To sign up for Bityard, you will only need to register:
- Your email address or
- A mobile phone number
Once you’ve registered with either your email address or mobile phone number, you’re assigned a personal secure multi-asset wallet and are ready to get trading.
How to Make Your First Trade Using Bityard Crypto Exchange
After finishing the 30-second sign up process, you’re ready to start trading cryptocurrency contracts. The first thing you’ll need to do is top up your secure multi-asset wallet with funds to power your first trades.
Currently, you can fund your wallet with seven different leading cryptocurrencies: USDT, BTC, ETH, TRX, XRP, XT, and LINK. Additionally, Bityard’s fiat onramp supports two fiat currencies, RMB and VND, with support for more cash options on the way. Depositing your cryptocurrency of choice is similarly quick and requires fewer confirmations than competing exchanges, allowing you to react quickly to evolving market conditions.
Cryptocurrency Contract Trading Options & Advanced Trading Tools
Once your cryptocurrency deposit has cleared, you’re ready for liftoff. The first thing you’ll want to check is the incredibly intuitive user interface powering the Bityard trading experience.
Professional-grade TradingView charts and tools integration enable you to gauge your trades across multiple screens with great accuracy by plotting and deploying technical analysis trend lines, scouting long positions and viewing across multiple detailed timeframes.
Bityard combines real-time API-fed price data from Binance, Huobi, and OKEx to obtain fair and weighted price averages for Bityard users — this ensures prime price discovery at Bityard when compared to other margin trading platforms.
There is also a very thoughtful layout switch feature that allows you to change the exchange background color for when you’re trading in the night versus the day or vice versa. Trading Bitcoin with leverage (or once of the several other leading cryptocurrencies available for margin trading) is accomplished with ease using the margin tools to the right of the interface.
Bityard Cryptocurrency Leverage Trading Options & Fees
Margin trading Bitcoin along with Bityard’s high-end selection of digital assets is simplified like everything else by taking what other platforms make complex and distilling it down to the essence.
For margin trading, the platform’s specifications are as followers:
- Min/Max Leverage: 20X — 100X
- Min/Max Margin: 5 USDT — 20,000 USDT
- Trading Fees: Margin*(leverage-1)*0.15%
- O/N Fee: Margin*(leverage-1)*0.045%
Additionally, Bityard is open for leveraged cryptocurrency trading 24 hours a day, 7 days a week, which presents the significant advantage of constant liquidity and zero spread-based fees. If you’re coming from Bitcoin perpetual contract trading, you’ll likely appreciate the advantages that Bityard leveraged trading products have over perpetual contracts in this regard.
Bityard Mining and BYD Platform Token
Bityard is a complete margin trading platform that also generates value for your wallet in another way by introducing a daily mining program and BYD platform token. The two are closely related as participating in the BYD daily mining program generates BYD tokens.
Why would you want to hold BYD tokens in your wallet? For one simple reason — BYD is the native platform digital asset token. It is ERC-20 based (Ethereum blockchain), meaning it can be held securely in your ERC-20 standard wallet.
Additionally, BYD coin is used to pay for platform transaction fees, thereby creating a discount for users who engage in platform operations with BYD. Finally, BYD coin can generate additional income after listings. There are 210 million BYD, with 10.24 million BYD made available to the daily mining program. After signing up with Bityard, you’re immediately eligible to receive 6 BYD by simply activating your account.
Bityard Cryptocurrency Contract Exchanges Pros and Cons
Bityard is offering new cryptocurrency trading features that are geared towards both beginners and advanced traders alike.
- Pros — Simplified contracts, intuitive UI, versatile crypto margin trading leverage options, 5 USDT minimum margin, multisig wallets, and dedicated support staff.
- Cons — Bityard currently supports fiat currency in China and Vietnam, and more countries will be able to use it in succession
All in all, Bityard is an exciting cryptocurrency contract exchange offering the best of advanced margin trading platforms like Bitmex and Binance combined with the ease of user-friendly exchanges like Coinbase.
Our take? Bityard is a trading platform that crypto traders at any level will enjoy and use frequently.
Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.