Spot trading is a financial market trading strategy where the assets are delivered immediately after the trade ends. An investor buys/sells assets at a specific market price, pays instantly, and immediately receives the assets. The asset buyer will be the beneficiary of any price increases in the asset once they buy it since they own the asset.
It’s a good strategy, especially in financial markets like Forex and Crypto exchanges, where asset prices fluctuate in seconds. Spot trading is one of the oldest financial markets trading strategies, but very few crypto exchanges have implanted this trading style. However, there are hundreds of crypto exchanges; most of these focus on trading futures—the others supporting spot trading offer poor services at slow speed and high rates.
However, Bityard exchange recently introduced spot trading options for users, aiming to provide the ultimate crypto spot trading platform. Before diving deep into the Bityard Spot trading option, let’s discuss what Bityard is.
Launched in November 2019, Bityard exchange is a Singapore-based crypto exchange providing investors with world-class trading options. The platform’s launch came at a time when the crypto world was experiencing significant changes.
Since its launch, Bityard has been garnering immense credits to the vast trading options it provides, including spot trading, copy trading, futures trading, etc. Accordingly, the platform will be giving solutions in the future to crypto enthusiasts, thus attracting even more attention.
Bityard’s has over 100 thousand users in 150 countries globally. However, although it provides many services, this article is going to focus on the aspect of spot trading. How can an investor start spot trading? and what are the trading fees involved?
Bityard Spot Trading
Bityard began the spot trading feature towards the end of 2020 and since then, it has seen a lot of success. The spot trading option is easy to access by navigating on the spot section in Bityard’s webpage. This makes spot trading on Bityard easy for anyone, rookie or experienced.
The base currency used in every spot trading pair in Bityard is USDT. Additionally, the platform hosts over 70 crypto pairs, making it easy for users to invest in portfolios.
Among the currencies included on the platform are BTC, ETH, LTC, XRM, XRP, TRX, DASH, AAVE, ADA, ALGO, 1INCH, BAND, BAT, BNB, COMP, DODO, DOGE, KAVA, LUNA, MATIC, MKR, NEAR, REN, etc.,
How To Spot Trade on Bityard
Although there are multiple platforms providing spot trading, there are tons of complexities. However, Bityard makes everything easy by sticking to the following steps;
- The first step is registering for the services and depositing some amount of assets in the account. Navigate to the spot exchange section on the dashboard
- Select the pair you want to trade from the many pairs present on the platform. All the available pairs are displayed on the left side of the spot trading page. You can choose to search for your pair or filter into either Defi, POS, or BSC. Let’s consider the BTC/USDT pair. Currently, BTC is trading at around $58k. Select this pair to either buy or sell it
- Once you select the pair, the dashboard’s central part automatically shows your pair, and the right side shows the real-time trades
- Input the value, i.e., the number of BTC you want to sell or buy. Maybe 0.02BTC
- Select the maximum percentage of funds by using the sliding bar found above the buy and sell button. Immediately afterward, click the buy or sell button to complete the order
- Follow your open orders by navigating through the open order and history page
Bityard’s Features and Benefits
Fast Transactions at Favourable Fee
Bityard aims to foster top-speed transactions for its users. Its technology is capable of processing over 1 million transactions every second, thus no waiting time. The development team is continuously improving the platforms functioning for more efficiency.
The transaction fees are also favorable, with the maker and taker fees standing at 0.1% of the trades.
Simplicity and Convenience
As aforementioned, this platform makes spot trading very easy for investors. It only involves a few steps, all accessible on the user-friendly UI.
Moreover, the platform offers utter efficiency by allowing users to personalize their trades. For instance, if you are interested in trading BSC-based tokens, select the BSC icon to filter your asset selection.
Bityard supports many crypto assets, 70 to be precise. Moreover, the platform is continuously increasing the number of assets for spot trading. Therefore in the future, investors will freely trade hundreds of crypto assets and expand their portfolios further.
Trusted and Secure
Over one hundred thousand people trust the Bityard platform, thus proving its legitimacy. Moreover, it’s licensed in different countries like Singapore, the USA, Estonia, and Australia. All the licenses are available on the website for the investor’s trust benefit.
The network also keeps assets in cold storage facilities to bolster the security of the funds. Moreover, it has secure SSL encryption for all users to communicate safely with the platform and multiple authentications for ultimate security.
Live Market Charts
The platform shows market charts in real-time. As an investor, you can look at the entire market and choose the best time to participate in trades. Moreover, Bityard allows you to see your trading history and learn from your past tradings.
Although spot trading is an old trading strategy, many crypto exchanges still lack the service. Bityard recently introduced the service and introduced dozens of pairs for investor’s benefits. The platform offers straightforward steps that allow users to complete trades efficiently, conveniently, and securely.
The network offers transactions at breakneck speed and affordable makers and takers charges. Moreover, it supports over 70 assets, and it continuously adds new pairs. Security is also utmost, with Bityard introducing several security algorithms including, SSL encryption, multiple authentications, and cold storage networks. Bityard is the best platform for safe, fast, and straightforward spot trading for any investor who wants to try spot trading.