In recent years, cryptocurrency contract trading has gained widespread adaptability among crypto traders. Contract trading, also referred to as derivatives, is an agreement to buy or sell an asset later for a fixed price. Traders use crypto contracts to hedge other investments or as a means of locking in profits when trading in highly volatile markets. These contracts are also essential for hedging existing spot positions without investing additional crypto, thus enabling traders to be alert and responsive to any prevailing market condition.
Considering the increase in demand for cryptocurrency contract trading, there has been a consequent increase in the number of exchanges offering the trade. However, most of them do not support crypto trading novices. They feature advanced tools that are hard to use for beginners, thus add more confusion instead of real value. Bityard seeks to change this narrative by simplifying the trade for novices while still giving them access to adequate trading tools.
The exchange offers a low barrier to entry as well as competitive fees. Traders can execute trades as low as 5 USDT or as high as 20 000 USDT, with a mere 0.05% interest rate. Here’s an in-depth look at the features that make Bityard the best derivatives exchange for beginners.
Bityard is the world-leading cryptocurrency contracts exchange. Headquartered in Singapore, the platform offers safe, easy, and fast crypto asset trading services in more than 150 countries and eight different languages. Bityard’s business philosophy follows the “complex contracts simple trade” approach that aims to bring the ultimate simplified crypto contract trading experience to customers.
Bityard markets itself as safe, easy to use, and fast. The exchange’s main product is leveraged trading instruments on eight different cryptocurrencies with a leverage of up to 100x. The exchanges also offer a low barrier to entry as well as competitive fees. Users can execute trades as low as 5 USDT or as high as 20 000 USDT, with a mere 0.05% interest rate.
What Makes Bityard Ideal for Beginners?
Bityard is the most user-friendly crypto-contract trading platform thanks to a wide variety of features, which include:
Simple and Intuitive User Interface
A first look at the user interface indicates that the platform is ideal for a newcomer. Other crypto contract trading platforms such as BitMEX have a much-complicated user interface that makes it hard for newbies to get along. Bityard’s user interface is sleek and straightforward. The UI is not crammed with many functions that might perplex beginners. There is undoubtedly less data filled per screen. There is also a bright mode and dark mode toggle-standard, but welcome features for a modern portal.
Simple Registration Process
Bityard registration process is straightforward and only takes a few seconds. All you need to do is register an email address and become a Bityard user in less than a year. The Mobile Registration option is simple and completed in seconds. Moreover, the platform doesn’t implement KYC strategies, thus limiting the extensive registration process. Once you’ve completed the registration process, the exchange will assign you a secure wallet right away.
Beginner Rewards and Demo Trade Feature
Bityard features “beginner rewards” –a program that enables beginners to familiarize themselves with the platform and add more details to the account. The rewards are in coupon credits for the fees. The platform also has a “demo trade” feature whereby the interface changes into demo mode, and traders can do “demo” cryptocurrency options trading using real price charts and volumes without having to commit tangible assets.
Users can employ demo leveraged trades to get a feel for the functionality of the platform. However, it would be best if you were careful using the “demo trade” feature since the trading view is identical except for the “mode” options found at the bottom left. Nonetheless, users should make sure the “Demo” icon appears in the bottom left if they want to demo trade.
Dedicated Customer Support
Bityard offers dedicated customer support delivered over many platforms, including email, telegram, and online customer support. Additionally, the website features an automated chart function that provides ease of service access to beginner traders. Users can also easily access the FAQ and Help Centre as well as a Beginner’s Guide and Contract Guide. These are available under the “More” dropdown menu placed at the top of the Bityard UI.
Low Entry Barrier
Another feature that makes Bityard ideal for beginners is that it has a much lower entry barrier with only 5 USDT for trading. Registering on the platform is simple and straightforward.
No Deposit Limitations
Regarding deposit, Bityard offers a wide range of deposit options, thus ideal for any beginner trader. The exchange has more deposit options than any other crypto derivatives exchange. Both fiat currencies (Chinese CNY, Vietnamese Dong, and Indonesian Rupiah), as well as seven cryptocurrencies (BTC, ETH, XRP, USDT, TRX, HY, LINK, and EOS), are supported for deposit. The exchange will add more fiat options soon.
Moreover, The Bityard team has also recently announced a new partnership with Paxful, a global marketplace to securely trade Bitcoin with millions of users. The integration will allow Paxful to act as a fiat-to-crypto on-ramp for our users, and there will be more FIAT deposit methods available on Bityard soon.
The KOL Incentive System
Bityard offers an attractive affiliate program, i.e., Key Opinion Leader (KOL). Bityard partners are offered a commission of up to 60%, while users receive a salary per day proportional to the number of users they bring to the site.
Affiliates who can be beginners can convert influence into commissions, with an opportunity of earning up to 60% of commissions on all trading fees. KOLs who recommend other worthy KOL prospects to Bityard get rewards with an additional lucrative bonus.
Getting Started on Bityard
To get started, access the Bityard registration process and enter the necessary information as required. You can register using either an email address or phone number. After this step, you’ll get a secure wallet and commence any activity. To begin trading, click on “Trade” for redirection to a trading page with a clean and straightforward UI.
Copy Trading Coming Soon
Better yet, the platform is planning to launch Bityard contract copy trading service soon. For experienced crypto traders, Bityard copy trading platform provides an opportunity to earn extra income by sharing out your trading strategies. According to the exchange, both novice and pro traders will earn profits from the feature. Any beginner can follow a pro trader of their choice to implement their techniques for better chances in trade.
Additionally, the contract-tied service will be fully automated favoring every user. For more info on this, please contact its online customer service or visit the support page.
Crypto contract trading exchanges have significantly evolved, and Bityard seems to be leading the way regarding simplicity and ease of use. The exchange is made for beginner traders, as portrayed by its motto “Complex Contracts Simple Trade.” The exchange is fast, secure, and easy to use, plus offers its users Beginner’s and Training Guides on crypto contract trading to make them better. The user-friendly exchange is more catered towards novice traders. Complex functionalities and trading options are more comfortable for novice traders to focus on crypto contracts’ trade. For those looking to enter the confines of crypto contract trading, there is no better place to start other than Bityard.