Derivatives trading is becoming more popular in the crypto space. While there are many exchanges that offer derivatives trading, only a few have offered such services with the simplicity that Bityard does. The Singapore-based exchange has just one mission, to bring a highly simplified yet highly professional trading platform to its users. This way, even traders with little or no knowledge of blockchain can enter the space and trade like the more technology-savvy ones, knowing that they have the best available team behind them.
The following are major ways in which Bityard is improving derivatives trading and simplifying the complex contract trading which other derivatives trading exchanges offer.
- Simple user interface: One of the challenges that newbies in the cryptocurrency industry face is how to navigate the complex user interfaces that characterize exchange websites. This is what is obtainable on most derivatives exchanges and most of the complexities are absolutely unnecessary. Bityard cuts the difficulty in navigating such an interface by making it as simple and plain as possible. The simple interface also makes trading simple enough for anyone to participate even if it is their very first time.
- Simple signup with no KYC: Unlike most exchanges, Bityard recognizes that users don’t want their privacies pried into, and therefore do not require KYC for account creation. All that is required is an email address or phone number, making it less likely for too much of your personal information to be vulnerable on the internet. Trade easily without fear of revealing too much about yourself.
- Low trading risk: As trading is quite risky, Bityard tries to cut traders’ losses especially for beginners by making the minimum amount of deposit to be 50 USDT with a minimum margin of 5 USDT. Also to further reduce risk, new traders can experiment with a demo account to get familiar with how trading works before engaging in real trades. This way, there is a lower chance of them losing their capital, giving everyone a chance to win.
- Simple deposit with fiat: To make depositing of funds as easy as possible, Bityard supports deposits of 10 major cryptocurrencies using fiat currencies such as Chinese Yuan (CNY), Indonesian Rupiah (IDR), Vietnamese Dong (VND), and more fiat on-ramp services are on the way. The platform also provides over-the-counter (OTC) trading with support for 7 major cryptocurrencies including BTC, ETH, XRP, USDT, TRX, HT, and LINK. This is the highest number of cryptocurrencies supported by any derivatives exchange, which gives traders wider options to choose from.
Minor investments in other cryptos supported by Bityard are as follows:
Bitcoin: 0.002 BTC
Ethereum: 0.05ETH. Users can only download Ethereum from the Ethereum network.
EOS: 5 EOS
Huobi: 5 H.T. Users can only download Ethereum from the Ethereum network
XRP: 100XRP. In addition to the address, users need to use the Tag provided for a successful transfer.
Tether: 15 USDT
TRON: 500 TRX
- Lowest transaction fees: Of all the derivatives trading platforms, Bityard charges the lowest fee of 0.05% of the transaction amount. All the others charge 0.075% which is significantly higher. It also provides 16 trading pairs that can be traded which is higher than all the other platforms, making it a highly preferred option with 100x leverage. For the minimum deposit and withdrawal amount of 50 USDT, a withdrawal fee of just 2 USDT is charged.
- Large user base and Incredible customer support: Bityard has users from 150 countries and regions including North America, Europe, Asia Pacific, and Southeast Asia. To ensure their maximum satisfaction, the exchange has strong customer support on Telegram, through email as well as live chat on the website. This gives users more options to access support in times of need and that is why the exchange is a step ahead of its peers.
- Fully licensed and regulated: There are lots of scams out there in the cryptocurrency space and it can be hard to tell the genuine exchanges from the fake sometimes. To ensure that every doubt is cleared, Bityard is licensed by more licensing bodies than any other derivatives exchange. The four different bodies that have issued their licenses to Bityard are in Singapore, Australia, the United States, and Estonia, giving it authentication as a good place to trade crypto derivatives.