Compared to other cryptocurrency trading platforms, BitYard is a little new in the community. The platform was launched in 2019. The crypto trading platform offers some advanced features that are comparatively new and beyond the basics. There are a couple of things that BitYard offers- derivatives trading, margin accounts, and relatively low fees.
If you have a little experience in crypto trading, then you might already know that derivative contracts are not something that beginners can use. The aim of BitYard is to make a platform that is simple and easy to use. In this article, we will be reviewing every factor of BitYard and whether you should use it or not.
BitYard: Is It Good For You?
For investors who frequently trade cryptocurrencies and who like advanced trading, BitYard is a great alternative. There are so many new features that can help investors a lot more. So, whether you are an experienced trader who is into advanced features or you want to start trading, BitYard is an excellent solution for both scenarios.
But, if you are thinking of investing for the long term, where you can invest a small or medium amount for a wish to make a fortune, then it is not a good idea to use this platform, there are other and more reliable platforms for long-term investment. For long-term investments, you should look for platforms with features like lending and crypto staking.
When Is BitYard A Good Choice?
Let’s start from the basics, the platform is simple and user-friendly, and there are a lot of advanced trading capabilities that you will find. First of all, the exchange provides a platform where you will get trading crypto derivatives like leveraged tokens, CFDs, and margin trading. So, it is beneficial for both beginners and experienced traders.
There are mainly two trading platforms, the first one is classic, and the second one is advanced. Both of these platforms offer more trading capabilities and charting, and this is the same that you get with a centralized cryptocurrency exchange.
If you do complete some basic tasks like setting up your BitYard account or verifying the KYC, or even making deposits, then you will get awesome mystery box rewards. And the mystery boxes contain different types of cryptocurrencies. There is also a welcome bonus when you are done with signing up.
There are other bonuses and gifts for when you refer friends or trade. Also, there is an option where you can let others copy your trades, and you will earn cryptocurrency based on the number of followers. BitYard also allows its users to mine cryptocurrency with proper computer resources, and this is a great way to earn cryptocurrency as well.
Disadvantages of BitYard
Though there are a lot of features that you will get with BitYard, the platform has a couple of disadvantages as well. First of all, you will not find the feature called crypto staking, which is a helpful feature for investors who want to make a lot of money through long-term investment. So, people who want to make a lot of money through holding cryptocurrency, sorry, this is not the platform that you are looking for.
The cryptocurrency pairs that the platform offers are still average. Also, when it comes to customer support, there is not enough support that you can expect. There is no phone support as well. The platform could perform better in terms of educational materials.
But you should know that compared to all the features that the platform offers, these disadvantages are minor. But, for beginners, customer service and educational materials are the two most important things other than making the interface easy to use.
BitYard Features
Now, coming to the features of BitYard. Here are all the good things that you will definitely get when you use the platform for trading.
- Fees
First of all, the fees that BitYard offers are competitive and straightforward. For any transaction, the platform will charge you between 0.1% to 0.3% of the total trading amount. Before any transaction, the platform will show you a potential fee before you approve it. Also, when it comes to converting cryptocurrencies, then you have to pay 0.1% to 0.15% of the conversion.
- Security
BitYard is concerned about giving securities to its users. There are everyday security audits and stress tests that the platform runs. Also, clients’ data are stored in cold storage for additional security purposes.
Also, the protocol confirms that users need to pass dual authentication to access their accounts. You can also use Google Authenticator and set up an additional pin. As of now, there has not been a single case of hacks.
- BitYard Account
Opening an account in BitYard is easy, simple, and quick. You just need to put your email address and mobile number to register an account. Then all you need to do is to add a payment method like a bank account or credit card.
After opening an account, you can transfer your existing crypto to your BitYard wallet. You also need to go through the KYC authentication, and there is other information that you need to fill up.
- Available Cryptocurrencies
This is a great feature that BitYard offers. You will get to trade, sell, buy, or anything with more than 40 cryptocurrencies. The platform accepts fiat currencies, and here are some of the cryptocurrencies that the platform accepts- Bitcoin, Ethereum, Cardano, XRP, Solana, Polkadot, Dogecoin, TRON, Polygon, Engine, and others.
- Easy to Use
If you open the BitYard website from your browser, you can easily research and trade cryptocurrencies with your account. The website works in real time and changes the prices every second. If you already own cryptocurrency, then you can later convert them through the website.
Other than the website, there is also a BitYard cryptocurrency exchange. You can either use the desktop platform or download and install the mobile app if you want.
What Are People Saying About Bityard?
Here we have put together some reviews by the users for your better understanding.
Review 1: “I’m from the Philippines, and I was first joined Bityard last October 11, 2021. I started copy trading around 40$ and i honestly got a profit 90$ in one week. Thank you Bityard.”
Review 2: “The UI is well-simplified and user-friendly, and the customer support is nice. However, spot trading service seems to be unavailable on their site, that’s a pretty basic one. Be careful with cryptocurrency investment, do enough research before placing a trade.”
Review 3: “Good Day…Gents. They have very nice and supportive customer service. I have recent issues that make the customer service explain what to do, and for some reason, I’m not reading the context box before I place the withdrawals. 5star for support and 5star for user interface. Keep it up. I was hoping you would be in TOP 1 in the future.”
Review 4: “I have used copy trade on Bityard, be honest this platform is a honest platform, traders there are good, of course no all traders can’t bring profit for followers, but for users we can trade with professional traders, it’s really useful. All in all, I like this platform!”
Review 5: “Previously, I was trying to make a partial withdrawal from my account. They claimed that I entered either wrong wallet address or risky address. And to safeguard my asset, they temporarily froze my account. Well, I appreciate this movement. However, I was asked to pay 20% of my assets for a risk guarantee which will be refunded back to me once my account status has been cleared up. I don’t understand why they need this much of money. For fund authentication, why can’t just we transfer like $100 or maybe max $1000? I have asked around that legitimate crypto exchange platform will never do that. This could be a scam. And I have also made three times of deposits to the exchange, why couldn’t they use this to trace back and verify my real identity?”
Our Verdict
So, now the question is whether you should use BitYard or not.
See, there are a lot of features that the platform offers that other platforms do not, as I have already mentioned that the platform is not a good choice when it comes to long-term investment. But, if you want to trade in real-time, trade cryptocurrencies, and mine them, then BitYard is one of the best trading platforms that you can use.
If you have any queries regarding BitYard, then feel free to ask in the comment section below.
Thank You.
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