Crypto Exchange

BitYard Exchange Review 2022: Pros, Cons, and Where it stands 

BitYard is one of the newer crypto exchange platforms that was launched in 2019 and is headquartered in Singapore. BitYard has quickly become a reliable crypto exchange platform for its fast performance and intuitive user experience. BitYard currently operates in more than 150 countries and competes well against other established crypto exchange platforms.

So, in this BitYard Exchange review, we will discuss the exchange’s features as well as its pros and cons to find out if it’s worth your time.BitYard Exchange Review

What is BitYard?

BitYard is a regulated exchange platform that gives users complete control over their assets. It also offers both spot and derivatives trading with a clear focus on “Simplicity.” An array of tools and features are implemented to simplify the complex trading experience and make BitYard accessible to traders, even with no prior experience.

BitYard also has a reputation for being a safe and secure platform. By the time of writing this review, BitYard remains to be one of the few exchange platforms that haven’t undergone any data breaches or hacks.

Interestingly, BitYard is also one of the few exchange platforms left that do not force users to complete the Know-Your-Customer (KYC) process. You can complete it to increase your security, but we managed to set up an account and make deposits and withdrawals without completing the KYC. However, depending on the location, your experience may vary, so make sure to contact support if you do not have a valid government ID to complete the KYC procedure.

What Cryptocurrencies Does BitYard Support? 

BitYard currently supports around 432 cryptocurrencies which include:

You can check the full list of supported cryptocurrencies by clicking here.

Apart from these cryptocurrencies, BitYard also supports around 54 fiat currencies, including all the popular ones like USD, AUD, CAD, GBP, and others.

BitYard Exchange also offers a full-fledged wallet to its users to securely hold their crypto coins. You can also navigate on the website to the “my assets page” to view the available holdings of your wallet. This is a nice feature that other competitors like StealthEX crypto exchange do not offer.

BitYard Payment Methods and Fees

One of the core strengths of BitYard exchange is its low fees. You can expect a simple and straightforward fee structure that is easy to understand.

Like most other exchange platforms, there is a maker and the taker fee, which vary between 0.1% and 0.3%, depending on the coin you want to trade. There are also one-time transaction fees of 0.075% to 0.05% when a trade position is opened for the first time. A conversion fee will also be added, which can vary between 0.1% and 0.15% depending on the fiat currency.

BitYard does not charge any additional fee for direct deposit, but depending on your payment method, your bank may incur a fee of 2.5%. However, withdrawals are subjected to a flat 2 USDT per transaction. You can find the full list of updated fees by clicking here.

How to Sign Up and Trade on BitYard Exchange? 

Getting started in BitYard is really simple. All you have to do is create a new BitYard account and start trading right away. To create an account, follow the steps below:

Step 1: Visit bityard.com, and on the right-hand side, you will see a fill-in box where you need to either enter your email or phone number and choose a password.

Step 2: Once you fill in the details, you will get a confirmation mail (or Verification code on your phone) which you can verify to login into your BitYard account.

Optional: You will be prompted to enter a valid government ID as part of BitYard’s KYC policy, but this step seems optional at the time of writing this article.

Is BitYard Exchange Safe?

BitYard is fully regulated, and while one or two jurisdictions regulate most competitors, BitYard falls under 4 jurisdictions. What this means for traders is that they can rest assured that their holdings are safe, and BitYard will do everything to protect the privacy of its users. BitYard also has not faced any major data breaches making it perfectly safe for any trader.

Here is a list of bodies that regulates BitYard exchange:

BitYard Mystery Box

We previously mentioned how KYC (Know your customer) is not mandatory, and you can usually carry out trade without it. However, completing the KYC by submitting the required documents will make you eligible for the BitYard Mystery Box. The Mystery Box Campaign intends to reward all new users with exclusive prizes such as BTC, ETH, DOGE, SHIB, NFT’s, Contract coupons, and trail funds. It is completely free to enter the BitYard Mystery Box campaign, and you can follow the steps below to claim your reward.

Mystery Box from BitYard

  • Step 1: Register to BitYard using your email or mobile, as shown in the section above.
  • Step 2: Complete KYC using a valid government-issued ID card in the account security section.
  • Step 3: Complete simple tasks under the mystery box section to receive your mystery box.

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BitYard Customer Support 

Customer service is essential to give users an excellent overall experience. However, this is one area crypto exchange platforms are lagging behind. Thankfully BitYard has a solid customer support team to whom you can reach out with any issues concerned with the platform.

You can reach out to the support team via online email support, live chat, social networks, & help center support. BitYard is quick to get back, and overall, traders can count on BitYard’s customer support team.

BitYard Exchange Pros and Cons 

Let’s now summarize the pros and cons of BitYard Exchange to determine if it’s best for your needs.

Pros

  • The fastest trading engine currently in the industry
  • Diverse trading services
  • Clean, intuitive, and easy-to-use interface
  • Low fees
  • Regulated in four jurisdictions
  • No forced KYC
  • Lucrative promotions like BitYard Mystery Box
  • Several fiat currency options to deposit money
  • Mobile app support
  • Built-in wallet to hold your crypto

Cons

  • Withdraws only in USDT
  • Relatively lower volume
  • Uses only SMS and email-based two-factor authentication

Conclusion

BitYard Exchange has created a buzz for its intuitive design and easy-to-use approach, making it popular among beginners. It is also powered by the fastest trading engine currently in the industry, making BitYard a top choice for traders. BitYard also offers several promotional offers like BitYard Mystery Box, which pays handsome rewards. So, if you are a beginner and want to indulge in the world of crypto, BitYard can be a great option for you.

About the author

Abid Zaman

Trade with Binance.US