Choosing a reliable crypto exchange is critical for the security of funds and the convenience of a crypto investor or trader. This is where CoinSutra comes in handy. We continuously scrutinize hundreds of crypto exchanges available in the market and bring out the best ones for you.
Today’s post is about one such crypto exchange called BitYard. So, without further ado, let’s get started.
BitYard is a centralized crypto exchange that was established in 2019 in Singapore.
The exchange offers several crypto services tokens for a wide variety of crypto tokens. It has many unique features such as Copy Trading, Demo accounts, etc.
Further, the exchange provides margin trading services upto 125 times the user’s investment. This is one of the maximum leverage available in the crypto market.
The platform is available for US citizens in select states. Further, BitYard is reasonably secure at the platform and user level. Although the exchange is new in the crypto game, it aspires to be one of the top crypto exchanges in the world.
Now, let’s understand more about the team behind the platform.
Michael Hung is the face of BitYard Exchange.
Michael Hung – Linkedin
Co-Founder and CMO
Michael is based out of Singapore. He has a degree in Computer Science from Shih Hsin University, Taiwan.
He Co-founded BitYard in 2019 and currently serves as the platform’s CMO (Chief Marketing Officer).
Before joining BitYard, Michael worked in several different industries and specialized in Sales, Business Development, Marketing Strategy, and Social Media.
Currently, he is the only face of the platform. Other founders of the platform have kept their identities anonymous. The rest of the team is spread worldwide, primarily in Singapore, Vietnam, the Philippines, Europe, and the USA.
The general features of BitYard Exchange are as follows:
BitYard offers spot trading features on a wide variety of Crypto tokens. A user can either place a limit or a market order to buy or sell crypto assets on the platform.
The spot market is available to the users in three different versions:
BitYard Exchange offers derivatives trading to its users. This includes the following types of derivatives:
All the above contracts can be used to either long or short sell a particular position.
Also see: Best crypto derivative trading exchanges
BitYard Exchange offers Margin Trading services to its users. Further, this service is available on both spot and derivative trades. On these trades, users get a margin upto 125 times their investment.
If you are new to Margin Trading, then you can refer to our Margin Trading Guide for Beginners’.
Further, the exchange offers both types of margins, i.e., Cross Margin and Isolated Margin.
Please note that Leveraged Tokens (discussed in the derivatives section) can be used as an alternative to Margin Trading. They are easier and cheaper to use.
Further, please note that Margin / Leveraged Trading is very risky, and you should not do it without sufficient knowledge and experience.
Also see: Best crypto margin trading platforms
This unique feature helps beginners copy trades of professional traders and start making money from day 1. A user can explore a wide variety of traders and their past performance and simply copy their trades with just one click.
The BitYard platform duly vets these professional traders. Further, 10% of the profit on these copied trades go back to these professional traders.
Please note that the percentage mentioned in the Copy trading screen of BitYard is the past performances of these professional traders. And past performance does not guarantee future performance. This means that you may also incur losses by copying trades.
You can read more about BitYard’s Copy Trading feature here.
Also see: Best crypto copy-trading platforms
This interesting rare feature allows beginners to learn the nuances of the platform or the crypto industry in general.
The Demo account allows a user to execute paper trades. These trades do not have any actual value.
BitYard has an extensive Fiat Gateway that allows users to buy crypto assets with over 50 fiat currencies.
Further, the gateway supports several modes of payment, including:
a) Electronic Fund Transfers,
b) Visa / Master cars (Debit / Credit)
c) Cash Deposits, etc.
BitYard does not charge any transaction fee for Fiat Gateway. However, third-party service providers may charge a fee.
Further, BitYard’s Fiat payment gateway can only be used to deposit fiat currencies. It cannot be used to withdraw crypto in the form of fiat.
The Fees Structure of BitYard Exchange is as follows:
The trading fee charged by BitYars is variable and depends on the type of crypto asset traded.
This variable fee is as follows:
|Type of Trades||Trading Fee Range|
|Spot Trading||0.1% – 0.3%|
|Derivatives Perpetual Contracts||0.1% – 0.3%|
|Derivatives CFDs||0.05% – 0.075%|
You can read more about BitYard’s trading fee here.
You can read more about BitYard’s deposit and withdrawal fee here.
The benefits of the BitYard Exchange are as follows:
a) Copy Trading – Copy Trading is a unique feature offered by BitYard. This allows new traders to simply copy trades of veteran traders and use their experience in their trading system.
b) Web Interface and Mobile Application – BitYard has a very user-friendly web interface. Further, it has a desktop application for Mac and Windows OS and a mobile application for iOS and Android devices.
c) Derivatives and Leverage Trading – BitYard offers a wide range of derivatives and margin trading services.
d) Wide Variety of tokens – The platform offers its users a wide variety of crypto assets.
e) Security – Bityard is a reasonably secure platform. On the Platform level, most of the funds are kept in multi-sig cold storage. On the user level, the exchange provides 2 Factor Authentication.
The limitations of the BitYard Exchange are as follows:
a) No Fiat Withdrawal
BitYard does not allow users to withdraw their crypto assets in the form of Fiat currency. This means that users would need to transfer their assets to another platform for fiat withdrawals.
We understand that BitYard is an excellent addition to the Crypto Exchange ecosystem. It has decent liquidity and a few unique features such as Copy Trading or Demo Account that beginners or professional traders can use. Further, it allows derivatives and margin trading for users.
Therefore, we think that the platform is worth giving a shot.
That’s it for this post. Please let us know if you have any feedback or comments. Please note that nothing written in this post is a financial advice. Please consult your financial advisor before making any financial decision. Lastly, subscribe to CoinSutra Newsletter to get your FREE crypto trading E-Book.
Yes, BitYard is a reasonably secure platform. On the Platform level, most of the funds are kept in multi-sig cold storage. On the user level, the exchange provides 2 Factor Authentication.
Yes, BitYard is regulated and holds licenses in several countries. Further, the exchange is trusted by more than 500,000 users.
Yes, US citizens can use the services of BitYard Exchange.
The base trading fee for BitYard Exchange is variable and is in the range of 0.1% to 0.3% of the transaction value.
Yes, BitYard supports the deposit of Fiat currency. However, there is no way to withdraw your crypto assets in the form of Fiat currency.