BYDFi Referral Code 2024 with Review $300 Deposit Bonus
BYDFi Referral Code and Review Summary
- Get a Free $300 deposit bonus with our referral code.
- Allow crypto traders from USA and Canada to use all features on the platform, including futures and perpetuals.
Please read our dedicated post about the full terms and conditions regarding the best crypto signup bonuses and trading discount codes.
BYDFi Referral Code Terms
What is BYDFi crypto exchange?
BYDFis headquarters is located at 6547 N Academy Blvd, Singapore.
BYDFi (formerly BitYard) is one of the best crypto trading sites. It is relatively new and was launched in 2019.
BYDFi supports Spot and Lite Contract trading, which is suitable for new investors, and also supports Perpetual Futures trading and Leveraged Tokens for advanced traders. In addition, BYDFi provides copy trading services where investors can copy and execute trades of professional traders, earn profits, and build investment channels.
Does BYDFi allow USA and Canadian users?
BYDFi accepts US and CA traders for spot trading and futures. Read more about USA crypto futures.
What are the non-KYC withdrawal limits?
- Non-KYC users: 0.2 BTC per day
- KYC users: 5 BTC per day.
Compare all non-KYC withdrawal limits for crypto exchanges.
What is the maximum leverage?
BYDFi has a maximum crypto leverage of up to 200x on its perpetual trading pairs.
Liquidity on BYDFi
BYDFis order book is connected to Binances order book. This gives BYDFi similar liquidity to Binance for some of the trading pairs.
BYDFi Trading Fees
- Spot trading fees: All crypto spot trading pairs have maker and taker fees of 0.1%~0.3%. You can find the exact trading fee rate per trading pair in the upper-right corner of the spot trading pair page. See our article about the lowest crypto spot trading fees.
- Convert trading fees: The convert feature simply exchanges different digital currencies with one click. The conversion fee rate is 0.1%0.15%.
- Perpetual contract trading fees: Transaction Fee Rate: Taker 0.06%; Maker 0.02%.
- Leveraged Tokens: The transaction fee for leveraged tokens is charged separately when buying or selling (USDT), and the transaction fee rate is 0.2%.
BYDFi Lite Contracts
BYDFi has a simplified version of Perpetuals they call: Lite Contracts
The differences between Lite contracts VS Perpetuals
- Various Ordering Methods
- Lite Contracts support trigger orders that allow users to place orders without freezing margin in advance.
- Perpetual contracts support Good-Til-Cancelled (GTC), (Immediate or Cancel Order) IOC, and Fill or Kill (FOK) orders, with multiple commissioning options available to professional traders.
2. Different Positioning Modes
- Lite Contracts only support isolated margins where each order is funded separately.
- Perpetual contracts support both cross-margin and isolated-margin modes.
3. Closing in Different Ways
- Lite Contracts require the users to add margin if they make a wrong judgment, which may result in a total loss of assets if they do not monitor the market in real time.
- Perpetual contracts provide a ladder type of forced liquidation, and the system actively notifies users by email to add margin. Users can act by closing the position, partly closing the position, or adding a margin.
If you are not ready to trade contracts, BYDFi also offers demo accounts in Lite Contracts, providing virtual funds to build your familiarity with trading contracts.
BYDFi Perpetual Trading
BYDFi Leveraged Tokens
BYDFi Crypto Trading Competitions and Contents
BYDFi arranges crypto trading competitions and contents regularly. These competitions allow traders to win prizes and test their skills against other traders.
BYDFi announces the competition details in advance, including the prize pool, the trading pairs that will be available, and the competition rules.
To participate in a BYDFi crypto trading competition, traders must have an account on the exchange and meet specific eligibility requirements. Once a trader has registered for the competition, they can start trading the designated pairs. The traders profits and losses will be tracked, and the trader with the highest profit at the end of the competition will win the prize pool.
BYDFis crypto trading competitions are an excellent way for traders to test their skills, win prizes, and learn about new trading strategies. The exchange competitions are also a perfect opportunity for traders to connect with other traders and learn from their experiences.
BYDFi Security and Customer support
Security
BYDFi employs a variety of security measures to protect its users funds. These measures include two-factor authentication, cold storage for most user funds, and regular security audits.
BYDFi is a safe and secure cryptocurrency exchange with a user-friendly interface and various trading options. The exchange is particularly well-suited for experienced traders who are interested in margin and derivatives trading. However, BYDFis relatively high fees and limited fiat currency support may make it a less attractive option for some traders.
Customer Support
BYDFi offers 24/7 customer support via live chat, email, and phone. The exchanges customer support team is responsive and helpful.
BYDFi Pros and Cons
BYDFi is a cryptocurrency exchange that offers a comprehensive suite of trading products and services to traders of all levels. The exchange is known for its user-friendly interface, wide selection of cryptocurrencies, and innovative features. BYDFi also offers a variety of educational resources and tools to help traders learn about the cryptocurrency market.
Pros
- Beginner-friendly interface
- Wide selection of cryptocurrencies
- Margin trading and derivatives trading
- 200X leverage Among the maximum leverage of all crypto exchanges
- No KYC for withdrawals
- 24/7 customer support
- Accepts traders from USA
Cons
- Relatively high fees
- Limited fiat currency support
- Copy trading is no longer available
- Not available in all jurisdictions
Overall, BYDFi is a solid choice for cryptocurrency traders looking for a user-friendly platform with various trading options. The exchange is particularly well-suited for experienced traders interested in margin and derivatives trading. However, BYDFis relatively high fees and limited fiat currency support may make it a less attractive option for some traders.
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