Welcome to this post, where we are going to see the BitYard platform, with a complete analysis of this Exchange.
If you have come across this Exchange and you have doubts, we are going to see everything you should take into account before creating an account, and the most general doubts that usually exist. So let’s take a look at the most relevant aspects of this platform.
What is BitYard
BitYard is a cryptocurrency exchange used by more than half a million users. BitYard is based in Singapore and is available in more than 150 countries. One of its strengths is the regulations it has as a cryptocurrency platform, which we will see later, and which is unusual for many platforms that are regulated. With the slogan Grow your future in the yard.
The platform was created in 2019, and is currently expanding by adding more and more cryptocurrencies to its Exchange to exchange, and different functions for trading, such as futures, copy trading or perpetual contracts. So it is an Exchange that you can use to buy and hold your cryptocurrencies, while doing advanced trading, and use riskier financial assets such as futures.
One of the most relevant aspects when choosing a platform is the commissions. Although in the world of cryptocurrencies they are usually very small, depending on the amount of operations you perform, they can have more or less importance.
In the case of BitYard, the commissions move in the standard of all exchanges, with 0.1%~0.3% both when you buy and when you sell. This is a % that you will find on other exchanges, so in this case BitYard is quite competitive with the commissions it offers. This is a positive aspect of the platform.
Although, as we commented, being such a small %, really if you do not make hundreds of operations, a commission of 0.1%~0.3% you will not notice it, even if you buy or sell large amounts.
For us one of the pillars and fundamental aspects of the platforms is security. Since we have seen in all these years scams, or hacks on platforms, and it is what we really give more importance when we look for where to buy and to keep our cryptocurrencies safely.
BitYard is located in Singapore, a country that facilitates this type of platforms and companies related to cryptocurrencies. Most exchanges are located in this country, or similar ones with a more accessible regulation.
Even so, BitYard stands out for the 4 regulations it has to give much more confidence to users of its platform. It has Australia’s AUSTRAC, The American Money Services Businesses, The MTR of Estonia for the European Union and Singaporean Accounting and Corporate Regulatory Authority (ACRA) as you can see in the following image.
The most important aspect is the regulation in Estonia, America and Australia. Estonia is where most European exchanges are regulated, and BitYard, despite not being in Europe, has the regulation to be able to operate and provide greater security to European users. The same happens with the American and Australian regulation. Many other exchanges do not have this type of regulations because they are in countries such as Singapore, but BitYard has more security thanks to these 4 regulations.
On the other hand, BitYard only exists since 2019, which makes it a fairly new platform compared to other exchanges that have been around longer. Even so, in recent years many new exchanges have come out with the rise and interest of this market.
Deposits and withdrawals
Another aspect that we like to see when analyzing an exchange is the ease of depositing and withdrawing funds. Since it is the first thing we should do to start using it, and what we will want to do after getting a good profit.
You can make a deposit by purchasing with your credit card. A very convenient option, especially for new cryptocurrency users. Many other exchanges do not have this option, and you must send your cryptocurrencies from another exchange. In the case of BitYard, you can go to buy crypto, and buy more than 20 different cryptocurrencies using your credit card in a simple and easy way. Thanks to its integration with Banxa, with a minimum of 30$, and a commission around 2%. A fairly low commission to buy with credit card compared to other platforms.
We have been able to see other platforms with Banxa integration, and it is really useful for newer users and easy when you want to deposit in an Exchange like BitYard.
Cryptocurrency deposits, either from a wallet or another Exchange, are very easy to make and have no minimum or commission. So you can also deposit your cryptocurrencies to use them in BitYard without any problem or extra commission.
In the case of withdrawals, for the moment you will not be able to withdraw directly to your bank account. Although it is a problem that we find in many exchanges and you will have to perform two steps to transfer your cryptocurrencies to your bank account.
The cryptocurrency withdrawals have a fairly small withdrawal limit, an aspect that is appreciated and would highlight. In addition to low commissions to withdraw your cryptocurrencies. This allows you to withdraw small amounts without problems and wherever you want.
Another aspect that we highlight, is how easy it is to use an Exchange, either for new users, or for more experienced users. But it is an aspect to consider, to have an easy and intuitive way to buy, sell and use the different functions of a platform. As well as knowing what you are doing.
In the case of BitYard has a very intuitive platform, both in your browser and mobile app. The operation to buy and sell cryptocurrencies is very easy and has all the features you may need, highlighting to operate to market so that our purchase is made instantly.
Its wallet system to trade in spot, futures or keep your cryptocurrencies on the platform is also very useful, and you can easily transfer them from one place to another to start trading in spot or futures.
Nor does it leave aside the more expert users, with its advanced mode, where you can trade or buy and sell cryptocurrencies with much more information and a much more advanced panel, than what you can find in the classic spot. So it is also a useful platform for more expert users.
Now let’s go with those aspects that we have not seen, but can also be useful to you in BitYard.
The futures and leverage up to x125 that the platform has. A good platform to be able to trade futures and different financial products related to cryptocurrencies, with a great leverage. You can find futures denominated in USD and cryptocurrencies, with perpetual inverse contracts. In futures, you can also find quite a few different cryptocurrencies to trade and use leverage.
Bityard is a one-stop trading platform, as you will find all the necessary tools and different instruments to operate in their exchange. All the information needed for doing trading in spot, operate futures, lite trading CFDs and different financial instruments related to the crypto markets with leverage, to maximize your gains.
With this, we also find a very interesting option which is copy trading. Very easy to start using it and intuitive. It is as simple as selecting the user you want to copy their trades, click on copy trade and indicate the amount. In addition, BitYard allows you to indicate an amount in USDT or with a %. You will be able to see the % that each trader has and all the trades made to better analyze who you want to copy trade. A very useful option to avoid having to trade and leave it to experts. Although taking into account also the risks of this function.
Another feature is the affiliates. Where they have a very good system if you invite friends or other users, with up to 40% of the commission every time a user buys or sells cryptocurrencies and has registered with your link. In addition to an indirect referral system, which can help you get more commissions. It is an affiliate system with a large % of the total, which you can rarely find in other exchanges.
Also, we can find streamlined Trading CFDs. That are trading instruments that enable traders to speculate on market movements in stocks, which can be tangible products (e.g. wheat, corn, oil) or monetary assets (e.g. stocks, bonds, bitcoins), for a fixed potential time and cost. One type of investment that is hard to see in other platforms and you can trade it in here.
I hope it has helped you to have a better idea of the most important aspects of an Exchange like BitYard.