The web’s most detailed BitYard Exchange review: BitYard is quickly gaining traction as one of the most reputable cryptocurrency contracts exchanges in Singapore with a large variety of trading tools such as copy trading, leveraged crypto contracts, lower than average trading fees, and an easy-to-use mobile app. BitYard has a robust security infrastructure backed up by three different regulations from FinCEN(USA), ACRA(Singapore), and MEAC(Estonia). The exchange provides excellent fiat on-ramps for cryptocurrency investors and a very user-friendly advanced trading platform for both beginners and seasoned crypto traders. Read the whole story in our full review.
• Very intuitive copy trading platform
• A regulated digital asset platform that offers leverage trading
• Available in the US
• No contact phone number
• Lacking a good news source
• Missing cold storage wallet
In this section of our BitYard review we have highlighted 6 special features that sets them apart when compared to other platforms.
BitYard launched its cryptocurrency contracts exchange in 2019 and has quickly become a recognized name in Singapore for its simple but yet very robust crypto contract trading. The exchange is regulated in three different continents and has cemented its trustworthiness in over 150 countries so far, including the United States. What makes BitYard stand out to us is its lightning-fast registration process, over 230 altcoins, lower than average trading fees, a great interface for copy trading, and a very user-friendly mobile app.
BitYard is operated by PLSS BitYard Blockchain Foundation LTD which has the main office located at 73 Upper Paya Lebar Road, #06-01C, Centro Bianco, Singapore 534818. The main goal of the team behind BitYard is to simplify complex trading and to make the cryptocurrency leveraged markets available for everyone in an easy-to-use package.
Why use BitYard
BitYard exchange is well suited for beginners and experienced traders who are looking to step up their digital asset trading through leveraged CFD contracts. BitYard offers maximum leverage of 5:125 on crypto tokens which is something that can be used to multiply profits but keep in mind that high leverage trading is a double-edged sword and can be an added risk factor.
BitYard has developed a copy trading platform where you can copy professional traders and profit by letting other traders work for you. The copy trade interface on BitYard looks great and the filtering process is very easy to use. Filter between traders and select how profitable, how many trades are taken, and the style of trading you prefer. You can choose between traders that trade on a low frequency, high frequency, high risk, steady, short term, or long term. For crypto margin trading in the USA BitYard is an excellent option.
The exchange can also be used to buy digital assets with fiat currencies through their Buy Crypto feature. Simply select the coin you want to buy, pick your local fiat currency, and click Buy Now. The BitYard algorithm will always update the page to give you the latest and best prices from the active market.
Trading on BitYard
On BitYard you have several different options when it comes to actually trade digital assets. Set aside the copy trade platform, the standard trade interface is very well developed with real stop loss and take profit orders that many similar platforms don’t have, which is a huge plus for BitYard. The spot trading platform can be accessed without leverage but you will still be able to use the same trading interface and tools.
On the contracts platform for digital assets, you have access to all premium trading tools as well as leverage up to x125, which means that you get access to 125 times more capital. This capital can be used to make significant gains when buying or shorting any of the coins available on the platform. I do want to mention the added risk factor when using leveraged contracts since the crypto market is prone to fluctuate a lot.
The BitYard spot trading fee is 0.10% which is at the lower end of the bracket when compared to other similar exchanges and that is a huge plus for anyone looking to trade with high leverage. The crypto contracts fee is 0.05%, the derivatives fee is 0.025%, and the forex fee is 0.015%. There is an overnight fee for trading crypto with CFD contracts on BitYard but it’s also lower than many other competitors. Here is the calculation for the overnight fee: Margin * Leverage * 0.05% * Days.
Something to mention is that BitYard soon will launch stock trading on the platform which will open up doors for even more markets. Derivatives and Forex are already a part of the available markets.
Payment methods and limits
Current payment methods on BitYard are Visa, Mastercard, Bank Transfer, Interac e-transfer, Osko, iDEAL, Klarna, Sofort, SEPA, PayId, Faster Payment System (FPS). The minimum deposit for buying digital assets is $10, the minimum withdrawal limit is $50, and the maximum withdrawal limit is $100,000 daily if you have identified yourself through their KYC process.
Things we don’t like
BitYard is a very complete cryptocurrency contracts trading platform and offers a lot of utility for its users through advanced trading interfaces, leveraged digital assets contracts, quick exchanges for coins, fiat on-ramps, and a very fast live chat. The only thing we see missing on the exchange is a reliable news source where traders can get access to quick information about trends and new changes in the cryptocurrency world.
Set aside this minor pitfall we have given BitYard an excellent rating and we strongly recommend our traders and investors to give it a try!
BitYard Trading Fees
About the special features on BitYard
The BitYard exchange offers plenty of options for both new and experienced traders and it is currently being used by over 500.000 investors around the world. The team has done a fantastic job with developing their own trading interface which seems to be running very smoothly. Some of the most important features on the platform are the leverage crypto contracts, copy trading, low slippage, professional support, mining, over 230 altcoins, real stop loss and take profit orders, and short selling. This combined with a very nice design and demo account makes it a very interesting platform for new users.
BitYard is the kind of exchange that makes you want more from your investing and thanks to the mobile app you can bring your trading where ever you go. Don’t forget to activate the 2FA verification before you make your first deposit and make sure to visit the Promotions hub where you can get free cryptocurrencies for doing simple tasks.
BitYard Copy Trading
The copy trading tool on BitYard makes trading easier and it is perfect to use for beginners that don’t have extensive knowledge about technical analysis and picking the right digital asset to trade. With this tool, traders can follow other profitable traders with a proven positive track record. When entering the platform from the Copy Trade tab on the website you are able to filter between different traders with different performances.
Choose to filter between traders that have a very aggressive short-term trade style or select a trader that has a more steady and medium-term approach. It is completely up to you which trader you want to follow and you will always see the current profitability and the number of followers for each top trader on the platform. The BitYard copy trading tool is an excellent way to start if you lack the knowledge to trade profitably on your own but are still interested to put your money into work!
The daily mining is another platform feature where members can mine 8 different digital assets as well as the native BitYard coin, BYD. Today, the available digital assets to mine are BTC, ETH, XRP, BCH, EOS, LTC, TRX, USDT, and BYD. When registering as a new member you will receive 6 BYD tokens for free. Right now there are roughly 10,4 million BYD’s in circulation out of a total of 210 million, so start mining and stock up on the BYD token to profit from future price movements.
A very important feature is the derivatives platform where you can trade all kinds of different instruments such as crude oil, copper, Nasdaq 100, and Mini dow. BitYard offers up to x200 leverage on all derivative contracts with a flat trading fee of 0.025%. The benefit of using the derivatives contract is that you don’t need to own the actual underlying instrument to profit from price movements. The added leverage can be a benefit if you are an experienced trader. Beginner traders should be aware of the risks.
If you are only looking to swap between digital assets I recommend that you use the BitYard quick exchange feature. This is a very simple tool where you can swap between several coins on the platform without ever accessing the charting software. This is a fast and easy way to exchange cryptocurrencies in an instant on BitYard.
Buy Crypto on BitYard
You don’t need to send blockchain transactions to start trading on the BitYard exchange. Instead, use the buy crypto feature where you can spend fiat currencies such as USD, GBP, and EUR to buy different digital assets. You can then use these coins to either trade in the spot markets or use them for leverage trading in the contracts pit. All coins will be available in your cryptocurrency wallet under Assets under your profile.
With the mystery box members stand to earn free rewards from completing tasks such as making a deposit, trading the spot market, and verifying their KYC. The rewards are random with the maximum reward being $500, nearly a double upgrade from the previous welcome bonus. This is a huge benefit for loyal members of the platform!
Our own experience with BitYard
BitYard Funding Methods
BitYard Withdrawal Fee
Is BitYard legitimate?
Yes, this is a trustworthy crypto exchange due to several reasons but one of the most important factors are the three regulations spread out on three different continents of the world. This helps cement the security of funds and increases the credibility of the company behind BitYard.
Is BitYard regulated?
Yes, BitYard is regulated in the United States by the Financial Crimes Enforcement Network(FinCEN), in Singapore by the Accounting and Corporate Regulatory Authority(ACRA), and in Estonia by the Ministry of Economic Affairs and Communications(MEAC).
Frequently asked questions
Read the most frequently asked questions about BitYard. Find answers without searching the web.
Yes, we consider it to be a safe crypto trading platform due to the 4 different licenses, 2FA verification, and good reviews from real users.
The exchange works exactly like any other platform you have seen before. Start by signing up with an account, then explore the spot trading platform, the contracts trading pit, and the copy trading feature. Before you can start trading in the live markets you need to make a deposit of at least $10. If you want to receive free USDT rewards, head over to the hub of the reward and follow the instructions.
Yes, it offers a solution for traders who want to trade on the go. The app can be downloaded from both the App Store for IOS and Google Play for Android users.
The BitYard headquarters is located in Singapore at 73 Upper Paya Lebar Road, #06-01C, Centro Bianco, Singapore 534818.
No, you are not obligated to use KYC on BitYard, but if you don't use it, the maximum amount you will be able to withdraw is BTC 0.2.
No, we can't find any information on the internet that BitYard ever has been hacked.
You can transfer digital assets directly to your wallet on BitYard. Simply copy the wallet address and add it as a receiving wallet to send funds.
The overnight fee is applied to the contracts trading only and is calculated like this: Margin * Leverage * 0.05% * Days.
Start by creating an account. On the first page, hover over the assets tab in the top right corner and click Buy Crypto. From here, select the coin you want to buy, how much you want to deposit and follow the instructions. If you wish you deposit cryptocurrencies to your wallet instead, hover over the Asset tab and click Deposit. From here, select the coin you wish to deposit and copy the wallet address. Paste this address as a receiving wallet from where you want to make your deposit.
To start following other traders on BitYard click on the Copy Trade tab on the first page. From here, filter through all profitable traders and select your favorite. Now, choose the amount you want to invest with this trader and click Copy!
The exchange makes money just like any other exchange through various trading fees which is a common practice to earn from providing a quality trading platform.
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