What is BYDFi?
BYDFi is a user-friendly crypto exchange that a lot of people use to trade cryptocurrency derivatives and leveraged tokens.
They also have a decent margin trading offer as well.
With BUDFi, you get access to two different trading platforms - classic and advanced.
Both are detailed, but the advanced obviously has more features.
The exchange also provides valuable rewards for its users.
For example, when registering with KYC or making deposits through various methods, users can receive “mystery box” rewards containing random cryptocurrencies.
They also get rewards in the form of welcome bonuses when they first join BYDFi, make their first trade, or refer friends.
These incentives make BYDFi an appealing choice of platform for traders who like to take advantage of market opportunities.
BYDFi withdrawal limits
The daily withdrawal limit with BYDFiwill vary depending on whether KYC is completed or not.
- Unverified Users: 0.2 BTC per day
- Verified Users: 5 BTC per day
BYDFi pros
- Seamless User Experience: BYDFi's advanced trading platform provides a smooth and intuitive user experience, allowing you to quickly and easily adjust your positions or open new positions with minimal effort.
- Low Fees: BYDFi offers some of the lowest fees in the industry among major crypto exchanges, which makes it easier for users to maximize profits on their trades over time.
- Multiple Payment Options: BYDFi allows users to fund their accounts using multiple payment methods, including credit cards, debit cards and digital wallets such as Apple Pay.
- Enhanced Security: BYDFi uses an advanced security system that includes 2FA authentication for added protection against malicious hackers and other cyber threats.
- Multiple forms of customer service: BYDFi's customer service team is available through email support, live chat, telegram chat 24/7.
BYDFi Cons
- No Escrow Services: There are no escrow services on this platform, so it is best for users to be careful when trading with someone new.
- Lack of Liquidity: As this exchange does not have many users, the liquidity on BYDFi is quite low compared to its peers.
- No direct USD deposits: You can't use bank transfer USD deposits to deposit money into your Bydfi account
- No direct crypto offramp: You can use Bydfi to trade, but not to then turn that into fiat so you can use with non-crypto-compliant businesses.
Who uses BYDFi?
BYDFi is used by anyone interested in cryptocurrency, specifically US and Canadian citizens who are looking for a way to protect their personal information.
How to get started with BYDFi
Head to the BYDFi site and look for the "Get Started" link in the top nav bar.
Click that and you'll find yourself on the sign up page.
Follow the sign up process to find yourself in the BYDFi dashboard.
