Review on BYDFI by Saparov Meylis

Bityard is a young cryptocurrency exchange. The site was registered in 2019 in Singapore as Bityard Blockchain Foundation limited.

The exchange offers a low entry threshold as well as competitive commissions. Users can make transactions from $ 5 to $ 20,000 with a commission of 0.05%. Bityard also offers margin trading with leverage from 5x to 100x.

Bityard is one of the few margin trading cryptocurrency exchanges that has regulatory licenses from the USA, Australia, Singapore, Estonia. In particular, these are:

• ACRA authorization issued by the Corporate and Accounting Regulatory Authority of Singapore;

• MSB license from the Financial Crime Network (US Treasury Department);

• MTR license from the Republic of Estonia;

• AUSTRAC approval issued by the Australian Government.

Since launching in 2019, the platform has expanded its offering to over 150 countries around the world. The official website has been translated into 9 different languages, including Russian. A special feature of Bityard is that it has no restricted regions. A person from any country in the world can create an account on the platform and start trading.

There are 16 cryptocurrencies on the exchange: BTC, ETH, XRP, LTC, EOS, BCH, ETC, TRX, DASH, BAT, ADA, KNCU, XLM, XTZ, ZRC, LINK, as well as USDT stablecoin and BYD internal token. Fiat deposit is only supported in China, Indonesia and Vietnam. The deposit is possible to wallets USDT, BTC, ETH, TRX, XRP, EOS and HT. Withdrawals are only possible in USDT.

The exchange is actively developing, therefore, updates and other important events for the platform take place systematically. For example, over the past six months, the following has happened:

• in April 2020, the Bityard mobile application appeared;

• in May 2020, the Thai boxing champion Muay Thai King Buakaw became the brand ambassador of the site;

• at the beginning of June 2020, the trading commission on the exchange was reduced to 0.05%;

• in June 2020, the intra-exchange token BITYARD Coin (BYD) was launched;

• In August 2020, new options for contract trading appeared on the platform, including oil, gold, copper, silver, natural gas, Nasdaq 100, Mini Dow, China A50.

Bityard gives users the opportunity to receive BYD, the platform's intra-exchange token. It is used to reduce commission fees, but in the future, developers are thinking about introducing the token to other exchanges as a financial asset. You can get BYD as a bonus for registration, through an affiliate program, as well as through mining on the exchange.

Bityard mobile app

In the spring of 2020, the exchange has a mobile application that duplicates the functionality of the browser version of the site. The user has access to the functions of trading, depositing and withdrawing funds. It is possible to open a chart and track your positions, as well as create an order with one touch.