Cryptocurrency exchanges are a great place to start your crypto trading journey. However, their products, services, and trading fees can make or break your trading ambitions. In this BYDFi crypto exchange review, we concentrate on whether BYDFi is a good place for novices or experienced users.

Rating

62

Location

Singapore

Contract types

USDT, Crypto

Maker fee

0.02 %

Taker fee

0.06 %

Max leverage

200x

US allowed

No

Deposit methods

Crypto, Credit card

Average funding fee (BTC)

-

What is BYDFi Crypto Exchange?

Initially called BitYard, BYDFi is a centralized crypto trading platform created in 2022 to“BUIDL Your Dream Finance.”

The exchange hinges its operations on honesty, trustworthiness, and reliability and believes in powering fair transactions and offering high-quality products. It has served more than half a million users so far.

Products and Services

BYDFi offers a diverse range of products and services including, but not limited to, spot and derivatives crypto trading. It also supports leveraged trading, allowing users to increase their trading amount.

The crypto exchange offers user-centric trading bots that enable even novices to make professional trading moves including copying trades from other successful traders. The bot can be used, for example, to trade within a given price range or accumulate a certain crypto at fixed intervals. BYDFi also offers peer-to-peer (P2P) crypto trading services, directly connecting buyers and sellers.

Security

The BYDFi crypto exchange works to emulate the safety of blockchain to safeguard users against hacks and other security breaches. The platform enhances user assets’ security by employing industry-standard measures like insisting that users put an extra security layer through 2FA methods like using Google Authenticator.

BYDFi takes the security of user assets a notch higher by adhering to regulations in the United States of America and Canada.

The exchange has a dedicated whistleblower contact page to report things like fraud, theft of resources, breach of confidentiality, and employees accepting bribes, further increasing the platform’s safety.

Customer Support and User Interface

BYDFi answers users’ queries through various ways like maintaining a dedicated and up-to-date help center that hosts announcements and an elaborate FAQs section. It also has dedicated user feedback and contact pages.

Its user interface is easy to use with easy-to-find menus. Trading pages are well organized, offering convenience when placing or closing a trading.

Trading Pairs and Fees

BYDFi has over 500 listed cryptocurrencies and over 200 trading pairs in its spot, perpetual, and futures markets. In the spot market, it charges a fee of between 0.1% and 0.3% for both takers and makers.

Users converting one crypto for another part with between 0.1% and 0.15% in fees while those interacting with perpetual contracts pay a flat rate of 0.06% and 0.02% for takers and makers respectively. Trades on leveraged tokens carry a 0.2% transaction fee and 0.03% management fee.

Final Remarks

The BYDFi crypto exchange is an easy-to-use and safe trading platform. Its wide range of listed coins, trading pairs, relatively low trading fees, and an assorted array of products and services make it a one-stop platform for both new and experienced traders.

The dedicated whistleblower contact page sets BYDFi apart and also increases the platform’s security.