Bityard Review: Is It Legit & Safe?

Bityard is a new trading platform launched in 2019 that lets traders trade Bitcoin and other major crypto's with high leverage up to 100x across its portfolio of trading pairs. The trading platform offers amazing leverage, a beginner-friendly user interface, competitive trading fees and a slick mobile trading app.

While we aim to provide you with accurate and the latest information on its features, user interface and trading fees and more in this Bityard review, we strongly suggest that you visit their site to keep updated with any changes that may occur afterward.

What Is Bityard?

Bityard is an emerging cryptocurrency trading exchange which is headquartered in Singapore. The platform offers a safe, easy and fast trading service and is available in over 150 countries worldwide. The cryptocurrency trading exchange adheres to the product concept of 'Complex Contracts Simple Trade' aims aims to bring a simplified trading experience to its customers.

Bityard Compared

Advanced features, intuitive user interface and a mobile trading app are important features on Bityard. This comparison table lists other top margin crypto exchanges that offer world-class features.

Exchange

Fees

Rating

Website

bybit

Maker - 0.025%

Taker - 0.075%

5 / 5

FTX Exchange Logo

Maker - 0.025%

Taker - 0.075%

4.8 / 5

binance

0.1%

4.8 / 5

bityard

0.05%

3.8 / 5

Bityard Features

The platform features a crypto contracts trading exchange to allow users to hedge against market risks without purchasing the actual trading asset.  Users to profit from both bear and bull markets while using a small amount of capital to maximize potential profits with margin trading.

bityard

Bityard is currently offering a welcome bonus of up to 258 USDT to attract new users to the platform. Once a new trader has registered, they can earn free Bitcoin, Ethereum, EOS, Tron and other major digital currencies. 

Trading on Bityard offers several other features for traders such as:

  • Withdraw profits in Tether (USDT) as the base currency
  • Trade with Bityard coin BYD to reduce trading fees or earn extra crypto
  • Deposit funds using Over The Counter (OTC) partners
  • Low minimum deposit amount ($5 USDT)
  • Accurate live crypto prices using data from BinanceOKEx and Huobi 
  • Margin trading with leverage up to 100x 
  • Zero spread, no slippage cost and no clawbacks
  • Mobile trading app for Android and iOS devices

Is Bityard Legit?

Bityard is a legit cryptocurrency trading platform that is regulated and licensed under Singapore’s ACRA, USA’s MSB from Financial Crimes Enforcement Network which belongs to the United States Department of the Treasury, Estonia’s MTR and Australia’s AUSTRAC.

The official certificates can be viewed by following the links on Bityard's website.

Getting Started With Bityard

To create an account with Bityard and takes a few minutes and requires a valid email address or mobile phone number. There is no KYC process or need to upload identification documents to start trading.

Follow these steps to register with Bityard:

  1. Visit the website https://www.bityard.com
  2. Click on the 'Get Started' button at the top right-hand corner
  3. Enter in an email (or phone number) and set a strong password
  4. Check email and enter in the verification code
  5. Click on 'Register' to sign in to your account
bityard registration

Depositing Funds To Bityard

Bityard provides multiple methods to deposit funds to the trading exchange. Users can transfer cryptocurrency directly from a hardware wallet to Bityard. The time taken for a deposit to reach the Bityard wallet depends on the crypto asset, the number of confirmations required and the blockchain network load. 

For traders that want to buy crypto and top up their wallet, Bityard offers a fiat service to convert local currency into crypto. You can buy crypto using an Over The Counter (OTC) partner or with a credit/debit card.

bityard deposit

To deposit funds into Bityard, follow these simple steps:

  1. Navigate to the 'Deposit' link under 'My Assets' on the top menu
  2. Select and confirm the cryptocurrency asset to deposit into Bityard
  3. Copy the deposit address or scan the QR code displayed
  4. Deposit crypto to the address
bityard btc

Bityard User Interface

The charting interface is one of the most important considerations for traders. This is where most of the time is spent analyzing the chart and technical indicators. The main charts are positioned in the middle and can be re-sized and positioned to suit. There is a night and day mode which is a great feature.

bityard charts

The look and feel of the price charts is similar to the popular crypto trading tool and software by Tradingview. It is sleek, intuitive, responsive and clean. Everything a crypto trader should be looking to focus on analyzing the charts, price action and positions without distractions (e.g. a troll box or excessive dialogue boxes). 

Trading features, chart patterns and drawing tools are accessible using the navigation bar on the left. You can also right-click the charts to bring up chart options such as:

  • Reset chart
  • Modify drawing tools
  • Change the chart interval
  • Insert indicators
  • Remove drawing tools
bityard crypto pairs

On the left, the available crypto assets to trade are listed which can be sorted by 'Name', 'Last Price' and 'Change%'. Switching between crypto pairs was responsive and quick to load the price charts. We did not notice an excessive lag between loading charts which is a common frustration on other exchanges.

The trade window is positioned on the right to enter in orders. Here, you can manually place trades using a limit or market orders.

The amount of leverage can be changed by dragging the slider, which automatically adjusts the take profit and stop loss levels. 

Compared to other margin platforms, we did observe there is a limited number of orders and would like to see advanced risk management types included such as:

  • Stop-limit 
  • One Cancels the Other (OCO)
  • Good Until Cancelled
  • Immediate Or Cancel
  • Kill Or Fill

Overall, the user-interface on Bityard is clean and a solid platform that we think is well suited to both beginner and intermediate crypto traders. 

bityard orders

How To Trade With Bityard 

To trade cryptocurrency with Bityard, follow these simple steps:

  1. Login to your bityard.com account
  2. Navigate to the top menu and click on 'Trade' 
  3. Use the left menu to select crypto pair to trade
  4. Enter the price you want to buy or sell the crypto
  5. Select the amount to buy or sell and choose a trade leverage amount
  6. Define a take profit and stop loss level
  7. Click on the 'Buy' or 'Sell' button to place the order

Supported Cryptocurrencies

Bityard exchange support 10 cryptocurrencies which can be traded against USDT only. The assets which can be traded on the exchange are BTC, BCH, DASH, EOS, ETC, ETH, LINK, LTC, TRX and XRP.

As Bityard is a new exchange, we anticipate the platform to eventually grow their asset offering and allow profits to be realized in other digital assets and even fiat currencies. 

Bityard Fees

Bityard charges a 0.05% transaction fee that applies when an order is opened AND closed. The trade fee payable will be displayed in the order window and calculated using the formula:

  • Opening Fee=Margin*leverage*0.05%
  • Closing Fee=Margin*leverage*0.05%

Positions that are held for longer than 12 hours may be charged an overnight fee. This charge in addition to the transaction fee. In comparison to other crypto trading exchange, the fees are reasonable however could be reduced further to increase competition.

Deposit & Withdrawal Fees

There is no deposit fee for transferring cryptocurrency and fiat currency into Bityard. The deposit time to reach the Bityard wallet depends on node confirmations and the blockchain network load. 

For withdrawals, there is a $2 USDT charge during the current promotion period. Withdrawals are usually processed within the hour and there is a minimum limit of $50 USDT.

Customer Support

Bityard offers its clients support on a 24/7 basis to provide guidance and support. There are several mediums to get in touch with the Bityard team including email, social media and a live support bot. Users can also navigate through the extensive FAQ section to find answers to commonly asked questions.

There is a live support bot to contact the support team directly during hours. After hours it defers you to support articles and guides in the Bityard Help Center while waiting for staff. We used the chat box and are still waiting for a response!

Security

Bityard's website states the platform employs several security measures to protect users funds from theft and fraudulent activity. The security measures include 2 Factor Authentication (2FA), multiple offline signatures, cold storage of client assets, real-time risk audit and full refund warranty. 

Frequently Asked Questions

Does Bityard Charge A Spread?

Bityard does not charge its own platform spread in addition to the transaction fee. Prices that traders see on the Bityard trading platform are the spot prices without additional spreads and slippage.

Is There A Mobile Trading App?

Bityard offers its customers a fully responsible mobile trading app that includes all of the features on the desktop version of the site. The Bityard app can be used to trades at anytime or anywhere and is available on Android and iOS devices. 

Is Bityard Safe?

Bityard employs a number of security measures on the platform to improve the safety of client funds stored on the exchange. Such measures include cold wallet storage, multiple offline signatures and real time risk audits. Users can activate 2 Factor Authentication on accounts to mitigate against suspicious login activity.

As with all crypto exchanges, it can be difficult to verify the security measures in place, so users need to conduct their own due diligence and only invest what you can afford to lose.

Does Bityard Have An Affiliate Program?

Bityard offers its users a tiered affiliate program that rewards up to 60% in trading commissions. The program is designed to encourage existing users to bring in new customers to the platform by sharing their affiliate code to earn additional income.

bityard affiliate

Bityard Alternatives

BYBIT

Bybit

ByBit is a derivatives cryptocurrency trading platform with an emphasis on leverage trading with up to 100x leverage on Bitcoin and Etherium trading pairs. Bybit has become one of the best crypto exchanges in the world. 

plus500

Plus500

Plus500 is a CFD providers that offers its massive customer base to trade the world's most popular crypto assets with up to 30x leverage such as Bitcoin, Ethereum, Litecoin, Neo, Ripple XRP, EOS, Cardano, Tron and Monero.

Disclaimer: your capital is at risk

binance

Binance

Binance is the largest cryptocurrency exchange by trade volume and one of the fastest trading services providers for blockchain ecosystem. The exchange has seen an astronomical growth and is a premium crypto trading platform. 

Conclusion

Bityard has created a solid offering in the cryptocurrency trading space with their contracts trading exchange. It appears to be a legit service that allows traders to hedge against market risks without purchasing the actual trading asset.

Bityard's registration process is fast and easy and the user interface is well suited to beginners. If you're searching for a regulated and licensed margin cryptocurrency exchange, then Bityard is a great option to consider. 

As always, we caution traders that leverage trading is very risky. It's possible to make a lot of money but it is easy to make an error and lose all the funds in your account. If you are new to trading, then you might be better off using a crypto demo trading account to refine your skills. 

Risk management tools and platform features are very important for any prospective cryptocurrency investor. The following cryptocurrency trading exchanges - in addition to the above exchange - provide advanced trading features, technical indicators and a smooth, mobile-responsive charting interface that will be suited to beginners and professional crypto traders. 

  1. bitFlyer
  2. Binance
  3. DueDEX
  4. StormGain
  5. Plus500
  6. FTX
  7. Crypto.com
  8. PrimeBit
  9. BLADE
  10. BitForex

Bityard

3.8

Ease of use

4.5/5

Reputation

3.0/5

Fees

4.3/5

Security

4.0/5

Customer support

3.3/5

Pros

  • No KYC process
  • No additional spread costs
  • Beginner friendly user interface
  • Supports the major cryptocurrencies
  • Withdraw profits in USDT

Cons

  • Relatively new exchange
  • Limited information on security measures
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Kevin
Kevin is the founder of hedgewithcrypto and is passionate about blockchain technology. He has been involved with Bitcoin since 2016 after discovering it's potential as an alternative to fiat currency. He is also a trader with over 8 years of experience and is now trading crypto using various platforms. Now, he is focussed on helping others learn about cryptocurrencies via hedgewithcrypto.

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