BYDFi Exchange Review 2024: Features, Fees, and Security Overview

In this article, I will discuss the BYDFi exchange, a cryptocurrency platform that offers spot and futures trading with high-leverage options.

I will cover its features, including supported cryptocurrencies, security measures, and user interface, to help you understand

How it caters to both beginner and advanced traders in the global crypto market.

What is BYDFi?

BYDFi is a cryptocurrency trading platform for global investors, previously known as BitYard. Since 2020, it has continued to offer professional, convenient, and new trading services to international users. 

In 2023, BitYard rebranded to BYDFi! BYDFi stands for “BUIDL Your Dream Finance.” BUIDL is a popular slang term for “build” in cryptocurrency.

In addition to its original meaning, the word encourages people who believe in the future of cryptocurrency to take action to achieve their dreams.

The “F” in BYDFi stands for Finance, and the “i” stands for everyone.

 In the future, the potential uses of cryptocurrencies will be more expansive and not limited to recent applications like NFT, Metaverse, and GameFi.

To keep up with the ever-evolving digital landscape, we change our brand name to reflect our vision and mission for the crypto market and to show our commitment to our users.

BYDFi presents its core value of BUIDL-ing, which is the possibility that it will shape the future.

BYDFi Profile

How to Sign Up on BYDFi Exchange?

Go to the BYDFi Website: Open the official BYDFi website (https://www.bydfi.com).

Click on “Register”: On the main page, locate the “Register” button.

Fill Out the Registration Form: Write your email, choose a password, and comply with the user agreement.

Confirm Your Registration: If you received a confirmation email, click the link provided inside that email.

Complete KYC (Optional): If you want to increase features and withdrawal limits, you can complete the KYC process, which involves uploading your ID.

BYDFi Exchange Fees

As outlined below, Bydfi  Exchange has a transparent fee structure for most transactions.

Spot Trading:

The fee structure of spot trading is the same as that of Inverse and USDT Contracts on BYDFi. The trading fee corresponds to the two different execution types: Maker and Taker. 

Spot trading fees are as follows:

Deposit & Withdrawal Fees

BYDFi does not charge deposit fees. Users pay a flat fee for each withdrawal to cover the transaction costs of moving the cryptocurrency out of their BYDFi account.

The blockchain network determines withdrawal rates, which can fluctuate without notice due to network congestion.
Please check the most recent data listed on the withdrawal page.

How Many Types of Trading Options Available

Spot Trading: Buy and sell cryptocurrencies at current market prices.

Futures Trading: Trade cryptocurrency futures contracts with up to 100x leverage.

Leveraged Tokens: Trade tokens with built-in leverage without the risk of liquidation.

Copy Trading: Follow and replicate trades of successful traders automatically.

Is BYDFi Secure?

Yes, BYDFi is secure. The exchange implements necessary security features, including two-factor authentication and cold storage for most of the user’s money and funds.

It also employs encryption to safeguard user information and transacted funds.

These features help protect the users’ money and personal information on the site.

BYDFi Exchange Features

Spot and Futures Trading

Includes spot trading and allows leveraged trading of up to 100 times the amount.

Leveraged Tokens

In this trade, investors can purchase tokens with embedded leverage, eliminating the fear of being liquidated.

Copy Trading

Allows users to copy the strategies and trades of successful traders.

Wide Crypto Support

Accepts more than four hundred cryptocurrencies and all kinds of trading pairs.

Security

The main security measures include two-factor authentication (2FA), cold wallets, and encryption.

User-Friendly Interface

A well-designed platform with many features, including a mobile app with advanced charts.

The BYDFi Referral Program

Through the BYDFi Referral Program, users can promote the platform and earn rewards. Here’s what the program is about:

Get Referral Link: Once registered, you can generate a referral link in your account.

Invite Friends: Invite new members to the platform using your link.

Get Paid: Every time your referred client makes a trade, you receive a specific percentage deduction on trading fees.

Volume: One can gain rewards from the related program from multiple levels. This means getting paid to recruit users who have recruited others into the network.

Benefits

At each level, users can earn rewards from their direct referrals and the referrals earned through them, increasing their earning potential.

The number of people you invite or the amount you earn is unlimited, so feel free to ask as many people as possible.

BYDFi – Crypto App on Android & iOS

BYDFi provides a sophisticated crypto trading application that is available on Android and iOS.

The application affords users easy access to spot trade, futures contracts, and leveraged tokens.

All from the comfort of a mobile device. It supports more than 400 different digital currencies, integrates advanced chart analysis and market data coverage, and offers 2FA capabilities.

Also, the BYDFi application is easy to use regardless of whether you are a beginner or an advanced trader, allowing you to carry out crypto trading conveniently wherever you are.

BYDFi Exchange Customer Support

BYDFi Exchange has an effective support mechanism to make users feel welcome and satisfied.

Support is available 24/7 via Live Chat, Email, or the Help Center, which offers lots of help and tutorials.

Users can seek clarification or help on trading, operating their accounts, and addressing other security concerns.

Moreover, BYDFi has set a standard for response time so that all traders can quickly get the information they need and easily understand how to use the platform.

Comparison

***Spot exchanges comparison***

Provide 200x leverage:

This sets BYDFi apart from other exchanges, where the maximum leverage for perpetual contracts is typically 100x or 125x; BYDFi offers up to 200x leverage.

Conclusion

In conclusion, BYDFi Exchange is a versatile platform catering to novice and experienced traders.

Its wide range of trading options, robust security measures, and user-friendly mobile app provide a comprehensive trading experience.

The referral program further enhances its appeal, making BYDFi a solid choice for cryptocurrency trading today.