Bityard is an exchange for trading cryptocurrency contracts. The base currency is Tether (USDT). There is its own BYD token, which can be obtained as a bonus for trading or registration, and spent on reducing trading fees or additional income from listing.
Official website: www.bityard.com
We also recommend looking at: top 25 crypto exchanges for trading.
The Btcnewsweb.com editorial staff offers an overview of the main features and capabilities of the project:
✅ There are licenses from the regulatory authorities of the USA, Singapore, Estonia and Australia (ACRA license, MSB license, MTR license, AUSTRAC license).
✅ OTC deposits.
✅ Bonus system – USDT is awarded for completing certain tasks. Tasks range from simple (set username) to time-consuming (reaching certain trading volumes).
✅ Leverage from 20x to 100x in 10 increments.
✅ To display the most accurate prices, a weighted average K-line is used, which takes information from the Binance, Huobi and OKEx exchanges.
✅ Zero spread, no clawback and no slippage.
✅ Close all function.
✅ Overnight function, which allows you to keep one or several open orders for a long period of time, subject to the payment of an additional commission. It is enabled by default in the settings. If the position is open for less than 12 hours, then the commission for the transfer of the transaction is not paid. Estimated time is 05:55:00 Singapore Time (SGT) or 10:55 Moscow time.
✅ Daily Mining is a daily giveaway of free cryptocurrency.
✅ The ability to quickly exchange one currency for another within your account.
According to the developers, Bityard does not seek to profit from customer losses, therefore, in most cases, the positions of customers are offset by each other. If a large number of clients trade in the same direction, then the platform hedges risks in the underlying market or derivatives markets. The main income of the project consists of commission fees.
While the site is new, it provides users with various bonuses and promotions – for example, at the moment, each registered account receives a bonus from the crypto exchange, and there is also a reduced commission for withdrawing funds.
|Year of foundation||2019|
|Country of registration||Singapore|
|Company||Bityard Blockchain Limited|
|Registration address||Paya Lebar Square, Singapore|
|Trading commission||Calculated using the formula Margin * Leverage * 0.05%. When using Overnight – Margin * Leverage * 0.045%|
|Price index||Binance (30%), OKEx (40%), Huobi (30%)|
|Minimum deposit amount||15 USDT, 0.002 BTC, 0.05 ETH, 500 TRX, 100 XRP, 5 EOS|
|Withdrawal commission||2 USDT during the promotion period|
|Minimum withdrawal amount||50 USDT|
|Working with fiat money||So far only for China and Vietnam|
|Safety||SMS confirmation, verification of e-mail address, pin-code for withdrawal of funds|
|Supported cryptocurrencies||BCH, BTC, DASH, EOS, ETC, ETH, LINK, LTC, TRX, XRP|
|Number of contracts||10|
|Stop and Take||Yes|
|Contactsfirstname.lastname@example.org, online chat, social networks|
Registration and account setup
Click the Register button in the header of the site to create an account with Bityard.
You can use email or phone number for registration. For example, to register by e-mail, you must specify:
✅ Email address
✅ Confirmation code that will be sent to this mail
✅ Password (6-16 characters, letters and numbers)
The button “Get a bonus” leads to the tasks page, where you can find out information about the available bonuses and how to get them.
To set up your Bityard profile for the first time, hover over the account icon and select Account & Security.
Here you can:
✅ Change username (this is one of the 1 USDT bonus missions).
✅ Link a mobile phone number to increase the security of your account (or email, if you registered via phone).
✅ Find out about your commission rate – this is the percentage that you will receive from the commission on the transactions of invited friends. The maximum rate is 60%, for this more than 100 people must be invited.
✅ Change Password.
✅ Set a pin code for withdrawing funds.
✅ Set up SMS authentication for logging into your account.
✅ Configure addresses for coin withdrawal.
✅ Track the activity of visits to the account – dates, IP addresses, location.
Daily Mining is a kind of cryptocurrency faucet, where you can receive a small amount of cryptocurrency every day. After registration and mandatory confirmation of the phone, go to https://www.bityard.com/mining.
Click on each stone to receive cryptocurrency. The overall balance is displayed below. You can transfer everything collected to your account in USDT in one click and use it for trading.
To start trading on the Bityard crypto exchange, you must first make a deposit. Go to the “My Assets” page and select the cryptocurrency you want to deposit.
The address to which you want to transfer funds will be displayed, as well as a QR code so that you can quickly do it from your mobile wallet. The funds will be credited to the account after a certain number of network confirmations, which takes on average 10 to 60 minutes.
Bityard accepts: BTC, HT, XRP, ETH, TRX, LINK, USDT (USDT-Omni, USDT-ERC20, USDT-TRC20). It is necessary to send a strictly selected currency to the proposed address, otherwise the coins will be lost. Also, the addresses change periodically, you should check the address before each replenishment.
Cryptocurrency trading on Bityard
Bityard is a derivatives exchange, that is, cryptocurrency contracts with specific terms of execution. It is possible to set the margin leverage from 20x to 100x. The peculiarity of contracts on this exchange is their 24-hour liquidity. All open contracts will close automatically at 05:55 Singapore time.
Trading in contracts (derivatives) is based on a negotiated price between buyers and sellers. When a buyer expresses a desire to buy a contract from a seller, the parties agree on a specific rate. Further, the rate moves up or down from this level, and depending on the direction of movement, either the seller or the buyer gets profit.
Example: the negotiated price is $ 100, but the rate has moved and the contract is closed at the moment when the price was $ 120 – then the buyer will remain in positive territory by $ 20. And vice versa – if the rate fell to $ 90, then the buyer will incur a loss of $ 10. The same, only in the opposite direction, applies to the seller.
It has several areas that display:
- Selecting a contract (left side).
- Graph and analysis tools (central part).
- Form for creating orders (right side).
- Open positions (bottom).
- Balance including P&L and equity, margin.
How to start trading on Bityard
- Log in to the system and go to the “Trade” section.
- Select a contract in the left area of the terminal.
- Select the type of operation (buy / sell), the type of the created order (market or limit). For example (see screenshot), market buy at 9694.61, x30 leverage, 50 USDT margin involved, amount 0.1547 BTC. Stop loss is set at 45 USDT loss, take profit at 150 USDT profit.
- Set leverage.
- Specify the margin.
- If necessary, adjust the Take Profit or Stop Loss level (automatic order closing at the specified values). When placing an order, the system will set the default Take Profit level – upon reaching a profit equal to 300% of the margin. If you are planning to achieve a higher profit, then you can set this figure at 500% of the margin. As for the Stop Loss, its lowest point is at 10% of the margin, and the highest is at 90%.
- In the settings, you can select the Overnight option. This makes it possible to hold the order longer than 05:55 am Singapore time, but then additional fees will be charged. If there are not enough funds on the account to pay the commission, the position will be closed.
- When finished with the settings, click on the “Buy” or “Sell” button and confirm your action.
- The current position will be displayed at the bottom of the terminal. In the Settings, you can set, change the level of stop and take. P&L is the unrealized profit or loss at the moment.
Note. On the Bityard exchange, you can practice trading in demo mode. The balance is credited with 100,000 USDT.
The creators of Bityard note that they do not use any artificial influence on prices and do not set additional spreads. All prices seen by traders are accurate spot prices based on data from other major cryptocurrency exchanges.
Withdrawals from the Bityard account are made from the “My Assets” section by clicking the appropriate button for any supported cryptocurrency. A withdrawal cannot be made without an installed pin code (set in the profile settings). For USDT, when withdrawing, you will also need to select the desired blockchain.
In the window that opens, enter the address where to transfer funds, amount, pin code, confirmation code from e-mail.
Currently, you can withdraw funds exclusively in USDT. The minimum withdrawal amount is $ 50, the maximum is $ 100,000; only two withdrawals per day are allowed. Please note that the financial service is open from 9:00 am to 9:00 pm Singapore time.
Commissions and limits
|Deposit||–||from 15 USDT|
|Withdrawal||2 USDT (during the promotion period)||from 50 to 100 000 USDT|
|Trade||Commission when opening a deal: Margin * Leverage * 0.05%.Commission for closing a transaction: Margin * Leverage * 0.05%.When using the Overnight option – Margin * Leverage * 0.045%||from 15 USDT|
Each registered user of Bityard has a referral link, which he can share on any sites, forums, social networks. In the profile, at any time, you can track the effectiveness of the distributed links.
Attracting new active users provides an opportunity for additional earnings: the referrer receives from 5% to 60% of the referrals’ trading commissions.
The maximum referrer level is called Diamond. To achieve it, you will need to invite 100 or more people. But anyone can fill out a questionnaire and ask to make him a Diamond partner directly, if he is convinced that he deserves it.
Benefits for active partners:
✅ Personal manager who helps in business development.
✅ Instant payments.
✅ Rapid data update.
Plus access to detailed reports on fees and transactions for maximum transparency.
Advantages and disadvantages
✅ Intuitive interface, not overloaded with details.
✅ A simplified version of contracts for trading.
✅ Leverage up to 100x.
✅ Low threshold to start trading (only 5 USDT).
✅ Security – storing user funds in cold multisig wallets.
✅ An affiliate program that makes it possible to receive up to 60% of referral commissions.
✅ Daily mining bonus.
✅ The system of bonuses for completing tasks (you can get 250+ USDT if you complete them all).
✅ Own token.
✅ The activity is licensed in four countries of the world, including the USA.
✅ Demo account.
❌ Fiat money is currently only supported in China and Vietnam.
❌ You can withdraw funds only in USDT.
❌ High minimum withdrawal amount.
❌ The initial leverage is x20, it cannot be reduced. Step 10, it is impossible to specify your leverage value.
Despite its youth, Bityard already enjoys a reputation as a quality margin trading platform. Developers go to great lengths to make its use as convenient and simple as possible for users. Many processes have been optimized, from registration to direct bidding. In this way, customers can focus mainly on making a profit, rather than figuring out the nuances.