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Bityard Review: The simplest crypto exchange for novices

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Bityard review

The cryptocurrency industry continues to grow, and as the adoption pushes forward, there are more and more newcomers who are interested in joining it. However, there is also a problem with their lack of experience, as the majority of existing exchanges tend to target experienced traders.

Professional traders and institutions usually work with greater amounts of money, which is attractive to exchanges, Of course, there is nothing wrong with that, but it does leave a void in the crypto industry — a lack of novice-friendly exchanges for beginners.

This is where Bityard comes in.

What Is Bityard?

Bityard is a cryptocurrency exchange headquartered in Singapore. It is a novice-friendly platform that aims to bring the ultimate simplified trading experience to its customers.

It does this by adhering to the product concept of ‘Complex Contracts Simple Trade.’ 

The company is taking this approach exactly due to the previously mentioned issues. Its main competitors — exchanges like BitMEX, Deribit, or Bybit —tend to focus on professionalism and complexity. As such, they tend to attract users who seek out advanced trading capabilities, tools, and alike.

Bityard, on the other hand, aims to offer its own services to newcomers to the crypto industry — those who lack experience in their first days within the crypto industry and are simply looking for a simple experience to build a foundation of their trading activity.

A simple interface for simple trading

Bityard understands that, for a newcomer to the crypto industry, an overly complicated UI (User Interface) can be rather confusing. More than that, it can be intimidating. This has been a reason why many new traders have given up on attempting to delve deeper into the crypto industry.

Not only are there too many options and distracting features for the user to feel comfortable on major platforms, but there are also way too many options that novices do not even need during the initial period.

However, thanks to Bityard, it doesn’t have to be like that anymore. Now, anyone can come to the exchange and quickly and easily navigate it and use it on their first day in the crypto world. This is the best currently available way for users to get started with contract transactions.

Is Bityard regulated?

Yes, Bityard is fully regulated and licensed under the Singapore’s ACRA, as well as the USA’s MSB from Financial Crimes Enforcement Network, which falls under the US Department of Treasury. In addition, the exchange is also regulatory compliant with Estonia’s MTR and Australian AUSTRAC. 

More than that, Bityard even has its own brand ambassador, a Thai boxing champion, Buakaw Banchamek. This is another noteworthy advantage that the exchange has, as almost none of its competitors is willing to spend money on asking trusted individuals to be their brand ambassadors. 

Buakaw and Bityard are completely open and transparent about their relationship, as can be seen on the boxing star’s Facebook account. 

What does Bityard actually offer?

When it comes to using the platform and all of its advantages, the first one that we should mention is Bityard’s native cryptocurrency, BYD. 

BYD is a platform coin issued by Bityard itself, and it has a total supply of 210 million units. This is a token that can be mined, and it plays an important role in the project’s ecosystem. 

The company’s goal is to get it listed on all mainstream exchanges in due time, and as such, it will have similar potential to that of Binance’s Binance Coin (BNB).

Other than BYD, Bityard also supports a number of digital currencies, all of which are well-known projects. Those include Bitcoin (BTC), Ethereum (ETH), XRP, Tether (USDT), TRON (TRX), Huobi Token (HT), and EOS.

While all of these cryptocurrencies can be deposited directly, users should not worry if they don’t already own them, as they can buy them on the exchange directly. 

BitYard allows fiat-to-crypto exchange via its OTC (Over The Counter) service, which allows traders to purchase the stablecoin Tether (USDT), and at low trading fees, at that. So, you can purchase cryptocurrencies with cash, and you get access to as many as 7 different mainstream cryptos, which is more than what any other mainstream contract exchange is currently offering.

For now, the exchange is using Tether as its base currency. However, its BYD coin also has its uses, as it can serve to deliver discounts on trading fees or get excess income from listing on new exchanges.

What else should you know about BitYard?

When it comes to fees and limitations on the exchange, there are indeed some worth mentioning in our Bityard review. For example, there is the already mentioned transaction fee of 0.05% of the transaction value. In addition, there is a 2 USDT charge for withdrawals during the current promotion period, but since Tether (USDT) is equal to the price of USD, that only means that the fee sits at $2.

Another thing that you should know is that BitYard offers trading with leverage, with the leverage going from 10x to 100x. But, no matter how much you earn, there is a max withdrawal limit which sits at 100,000 USDT (about $100,000). 

Fortunately, you can trade and withdraw your funds without having to go through the KYC procedure, which is also great news, as such procedures can last a long time.

Lastly in our Bityard review, if you have any issues or questions, you can always contact BitYard’s customer support. To learn more, visit Bityard today!

Image by mohamed Hassan from Pixabay

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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