Review on BYDFI by Benaiah A. Akinlade
BitYard Crypto Exchange: providing crypto services in its own peculiar way
BitYard is a Singaporean crypto trading exchange. There are over 30 listed cryptocurrencies and more than 50 trading pairs on BitYard.
If you want to make deposits on BitYard, then you are certainly going to get free charges on your deposits.
I discovered that the exchange supports a number of fiat currencies which makes trading and transactions between crypto and fiat easy. Some of the supported fiat currencies that you can transact on BitYard are USD, EUR, GBP, CAD, JPY, CHF, and so on.
The UI (User Interface) of the exchange is friendly and easily navigable. This is an important factor for me as an IT person because the easier it is for me to navigate a digital platform, the more tasks and activities I tend to perform on that platform.
I noticed that most of the crypto trading pairs on the exchange is against the USDT, this is a limitation as it doesn’t allow the trader the freedom to trade directly with other assets. Mind you, trading with the USDT might be quite expensive due to it being on the ethereum blockchain.
The mandatory KYC on some crypto exchanges in no so on BitYard, so you can perform some transactions and trading without KYC except for when you intend to make fiat currency withdrawals.
The exchange is also protected with multiple layers of protection thereby securing your assets on the platform. Although there is no fully protected platform, so be careful with your security PIN.
In general, the exchange is providing good services although not necessarily services that are new or different.
I gave a favorable review about BitYard in my last review about the crypto exchange a few months ago and my perspective about the exchange has not really changed.
There have been several improvements on the platform and the most obvious one is the improvements made to the intuitive user interface, takes cryptocurrency trading and trading experience more interesting and interactive. The exchange website also goes through regular updates which offers you a chance a variety of ways to trade.
To make things easier for traders, the developers have created a mobile application platform for the BitYard crypto exchange so that transactions can be completed at the convenience of the trader. The mobile app is available on Android and iOS devices.
Traders that are relatively new to the crypto space can trade with little or no experience.
The BitYard crypto exchange website can be accessed in Korean and English languages.
The platform also provides services such as:
1. Deposit
2. conversion
3. mining
4. mystery box
5. copy trade
6. Forex, etc
Registration on the BiYard website is not tedious but requires a verification process where relevant documents and information will be required.
One new thing that I discovered about BiYard is the Contracts for Differences (CFD) trading. This CFD is used for multiple types of digital asset like cryptos, indices, commodities, and forex. This makes the services provided by the platform unique.
There is a long way to go for BitYard crypto exchange, but it's definitely treading the right path in competing with the more famous crypto exchanges.
Since my last update on BitYard, I haven’t seen any significant improvements or updates on the platform. This doesn’t mean that the platform is not doing well but as we know all entities needs a little bit of upgrade once in a while.
The main challenge I see for BitYard is the fact that it has not been able to provide a good competition for already well established platforms and this is hindering the possibility of investors using the platform. BitYard needs to study the crypto space and see what really entices investors.
I am sure that updates will come in sooner rather than later but for the time being, I still stand by my last review update.
Since my last update on BitYard, I have seen some significant improvements or updates on the platform.
I discovered that new cryptocurrencies trading pairs have been adopted into the exchange. Mining of crypto assets have also been inculcated into the exchange, thereby allowing users to earn daily bonuses that is useful for gas fee for transactions and also convertible to USDT.
The availability of trading bots on the exchange makes buying and selling of cryptocurrency easy and traded at market rate.
The user interface is still well structured and items are well arranged. This makes navigation on the exchange easy and seamless.
The exchange is gathering momentum for its popularity, this is aided by the promotional competition liased with on the Revain platform, where more reviews are done in order to make the exchange visible to investors.
BitYard is moving in the right direction.
- The customer support of BitYard is quite interactive.
- There are no charges on Deposits
- Services provided by BitYard may not necessarily be unique because there are other crypto exchanges that provide the same, similar or better services
