Exploring BYDFi as the Ideal MEXC Alternative for Derivatives and Copy Trading

What is BYDFi？

BYDFi is a one-stop social trading platform for individual investors. BYDFi has been offering professional, convenient, and innovative trading solutions to global users since 2020, including spot trading, perpetual contracts, spot investment, martingale, and spot/future grid. With the slogan BUIDL Your Dream Finance takes cryptocurrency trading to a whole new level. BYDFi aspires for its platform to afford users autonomy and leave a permanent imprint on the sector s progress.

Background

BYDFi was officially launched in 2020 and opened the cryptocurrency market under the name BitYard. It has been online for nearly three years. In response to changes in the encryption market, it was renamed BYDFi in January 2023. By allowing traders, copiers, project teams, media, and other communities to interact and communicate, BYDFi creates a trading environment ideal for both beginners and professionals.

Core Value

In 2023, BitYard Rebranded to BYDFi. BYDFi stands for “BUIDL Your Dream Finance”. BUIDL is a slang term for build that is popular in the cryptocurrency community. In addition to its original meaning, this word also encourages people who believe in the future of cryptocurrency to take action to achieve their dreams. The “F” in BYDFi stands for Finance and the “i” stands for each individual person. In the future, the potential uses of cryptocurrencies will be more expansive and not limited to recent applications like NFT, Metaverse, and GameFi. To keep up with the ever-evolving digital landscape, we change our brand name to reflect our vision and mission for the crypto market and to show our commitment to our users. BYDFi presents our core values of BUIDL-ing the possibilities that will shape the future.

Highlights

BYDFi offers spot trading for over 600 cryptocurrencies, as well as flexible leverage trading ranging from 1x to 200x.
Multiple payment options are supported, including credit cards, debit cards, bank transfers, and third-party payment providers such as Apple Pay, Google Pay, Banxa, Transak, and Mercuryo.
The platform offers features such as spot trading, perpetual futures, automated trading tools, and simulated trading.
Launch the leading copy trading feature. Through trader copy, users can easily follow more professional crypto traders.
Provides a transparent and competitive fee structure.
By adopting top-tier security measures such as offline deep cold wallet storage, multi- signature technology, high-performance trading engine architecture, and AWS cloud services.

BYDFi Features:

Forbes Recommended

BYDFi has been recognized by Forbes as one of the top ten best cryptocurrency exchanges in 2023. This is a significant achievement for the crypto exchange, which was launched in 2020 and has rapidly become a popular destination for traders. Overall, BYDFi s recognition by Forbes is a testament to the exchange s commitment to providing a secure, reliable, and innovative trading experience for its users.

Ref: https://www.forbes.com/advisor/investing/cryptocurrency/bydfi-review/

Ref: https://www.forbes.com/advisor/investing/cryptocurrency/best-crypto-exchanges/

600+ cryptocurrencies available:

We currently offer up to 600 different cryptocurrencies for trading, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB).- Check supported coins here.

You can easily find the next 100x GEM on BYDFi. This means that cryptocurrencies that cannot be purchased on other exchanges can be found on BYDFi.

Compare to other spot exchanges:

Provide 200x leverage:

This sets BYDFi apart from other exchanges where the maximum leverage for perpetual contracts is typically 100x or 125x. BYDFi offers up to 200x leverage.

Compare to other derivatives exchanges:

What does BYDFi offer:

Spot trading:

Up to 600+ crypto trading pairs.
Trade popular coins such as Bitcoin, Ethereum, Ripple, Dogecoin, and altcoins.

Perpetual contract:

includes USDT-M and Coin-M perpetual futures.- Check supported coins here(USDT-M) and here(Coin-M).
Up to 200x leverage for perpetual contracts
Higher potential returns, greater flexibility, and convenience
This sets BYDFi apart from other exchanges where the maximum leverage for perpetual contracts are typically 100x or 125x

Demo trading:

All users on BYDFi can access a demo account with 100k USDT to practice trading without risking real funds.
This feature allows users to test their trading skills and strategies before trading with real money.
Demo trading is a great way for beginners to get familiar with the platform and the market.

Spot investment:

Available for more than 100 trading pairs.
Spot investment provides high liquidity, allowing for quick and efficient trades.

Spot/Futures grid:

Spot grid trading automates buying low and selling high within a defined price range, using preset conditions to capitalize on market fluctuations for profit.
Futures grid trading strategy automates long or short contract trading within a defined price range, buying more when prices drop and selling when they rise for profit.
Futures grid trading allows for rational trading by automatically executing buy/sell orders within a set price range, eliminating emotional decisions, and reducing losses from FOMO, FUD, greed, and expectations.

Coin list

Allow users to organize and track their favorite cryptocurrencies.
Share the crypto you are interested in with other investors.

Fiat gateway:

User-friendly deposit options for new traders
Deposit options include credit/debit cards and bank transfers – Link
Support for over 100 currencies
Partnerships with BANXA, Alchemy Pay, Transak, Mercuryo, and Coinify for comprehensive coverage of payment options globally

Security:

BYDFi only has US and Canada MSB dual licenses.(US MSB Registration No.
-31000215482431/ Canada FINTRAC MSB Registration No. – M22636235)
Personal data protection: Onfido KYC system
Cold storage: The vast majority of digital currencies held at BYDFi are stored offline in cold storage wallets.
Multi-party approvals: Multiple people are required to authorize transactions.
Segregated accounts: Your money is held separately from ours. Your crypto is kept in segregated cold storage wallets.
Strict whitelisting: Transactions from our cold wallets are restricted to a whitelist. It prevents unauthorized withdrawals to any address BYDFi has not approved.

Welcome Reward:

At BYDFi, we want to make it easy for everyone to get started with cryptocurrency trading. That s why we offer a New User Welcome Package that gives you rewards just for signing up and completing some basic tasks.

To get started, simply register and complete KYC verification. Then, you ll receive a registration gift and can start earning rewards by completing simple tasks like setting up Google two-factor authentication, configuring anti-phishing codes, and joining our community.

These tasks are easy to do and will help you get familiar with our platform, while also earning you rewards. So don t hesitate, sign up today and take advantage of our New User Welcome Package!

Ref: https://www.bydfi.com/en/novice-task

Affiliate Program:

Dedicated Affiliate Center: You will be able to view all details regarding your referrals and earnings there.
Lifetime rebate: Once a user signs up using your link, you will receive a commission from that user forever. Not for 3 months, not for 1 year, but a lifetime.
Real-time settlement commission: The rebate will be reflected in your affiliate account in real time after a referral completes a trade. No need to wait 1 week, 2 weeks or even 1 month.
Create up to 100 unique referral links: In your affiliate center, you are allowed to search for registered users, deposit amount, and trading volume under each link. Help you efficiently track the effect of different promotion channels.

Ref: https://www.bydfi.com/en/affiliate/dashboard

No KYC Needed for Most Functions

There is no need for KYC to get access to most functions.
The daily withdrawal limit solely depends on the status of KYC verification. Unverified users can withdraw 1.5 BTC per day, whereas for verified users the limit is 6 BTC per day.

Get started with your account

Create Your Account

Visit the BYDFi website.
Click on the “Sign Up” button and fill in the required information to create your account.
Verify your email address to complete the registration process.

Set Up Two-Factor Authentication (2FA)

Log in to your new account.
Navigate to the security settings and enable Two-Factor Authentication (2FA) for added security.
Follow the prompts to link your account with a 2FA app (like Google Authenticator) and secure your account.

Get Your UID

Visit your account
Copy your UID and send it to your BD Manager

Get Your Referral Link

Visit the affiliate center within your account dashboard.
Generate your unique referral link.
This link allows you to earn commissions through the [Two-Way Commission] and [Link Discount Rate] features, helping you boost your income.

Add Your Referral Link to Video Descriptions

Copy your referral link.
Make sure to add your BYDFi referral link to the first line in the description of any related content you share. This is crucial for tracking referrals and maximizing your earnings.

Follow the BYDFi Twitter Page

From your main account, follow the BYDFi Twitter page to stay updated on the latest news, promotions, and features.
Engage with the content and be part of the community for additional benefits and insights.

By following these steps, you ll be set up to take full advantage of your account s features and start earning with the referral program.