Bityard scored 63/100 on our review matrix giving the exchange a B- rating overall.
The exchange offers a solid trading experience and there are several notable areas of strength, which include the lack of trading restrictions for global users. There is also a demo platform to allow users to try the trading experience before risking live funds and a mobile app allowing users to trade on the move.
One of the standout features of the platform is their regulation in several countries meaning global users have no restriction in using the platform. It also demonstrates the long term vision of the exchange, by implementing licences early it means there is no regulatory hindrance in their growth later down the line.
As a relatively new and unknown exchange, there are areas that can be tweaked to improve the trading experience for the user. This includes more transparency around the team behind Bityard and improving the trading experience/interface.
We have sent this information to the Bityard team and we will come back after 6 months to re-review the platform to see if any recommendations have been implemented.
For anyone wishing to sign up to the platform, there is a bonus of up to $258 available for new users and you can sign up in the link above.
- Mobile apps allows for trading on the move.
- Globally licensed and regulated platform in the US, Singapore, Estonia and Australia.
- US traders are not restricted from using the platform.
- No KYC required meaning users can register and start trading.
- Website is multilingual allowing for global users to access the exchange.
- Upto a $258 sign up bonus and bonus funds can be used for trading.
- Support and help section is very well detailed.
- New exchange platform launched in the last 12 months.
- No 2FA Google Auth option.
- Trading process can be improved for more efficient and speedy trade execution.
- Limited team information displayed on Linkedin.
- Unable to register with Protonmail or several other email prefixes.
- Affiliate fee is low compared to competitors.
- Add Google 2FA.
- Improve the trading process.
- Allows users to download trading history as a CSV file.
- Show volume per trading pair in $ and BTC amount.
- Introduce sliding tier fees for users with higher volume.
- Add 2FA Google Auth and Email whitelisting.
- Add emergency account lock feature.
- Add team information to website and Linkedin profile.
- The constant risk of an exchange hack.
- New exchanges always face the risk of low adoption of their platform.
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Thank you for all your help!
Bityard is a cryptocurrency derivatives exchange launched in 2019. Headquartered in Singapore, they aim to provide safe, easy, and fast crypto asset trading services in more than 150 countries, with no restrictions on users from the USA, Europe or Asia.
Bityard adheres to the product concept of “Complex Contracts Simple Trade”, and aims to bring the ultimate simplified trading experience to customers. The exchange uses Tether (USDT) as its base pair, meaning users are able to deposit, trade and withdraw in a fixed USD value instead of using Bitcoin as the base asset.
Bityard is regulated and licensed under the Singapore’s ACRA, USA’s MSB from Financial Crimes Enforcement Network which belongs to United States Department of the Treasury, Estonia’s MTR and Australia’s AUSTRAC.
There is also a BYD token linked with the exchange which allows users to deduct BYD tokens from their trading fees.
Let us take a more detailed look at their platform in the video below:
|Legal Name||BITYARD BLOCKCHAIN FOUNDATION OF COMPANY|
|Type of exchange||Derivatives, Altcoin|
|Two Factor Auth||
|Featured Trading Pairs|
|Available Languages||简体中文 繁體中文 English Tiếng Việt Pусский 한국어 日本語 Bahasa|
|Support Options||Email, Live Chat, Social channels|