What financial services does BYDFi offer?

BYDFi provides a diverse range of financial products tailored to meet the needs of different investors and traders. These typically include spot trading for various cryptocurrencies, futures trading with leverage options, and decentralized finance (DeFi) services such as yield farming and staking. BYDFi aims to cater to beginners and experienced users by offering a platform to engage with traditional financial markets and innovative crypto-based financial instruments.

Is BYDFi safe to use?

BYDFi boasts extensive security and transparency standards focusing on user funds, regulatory compliance, and more. As for safety, the exchange employees two-factor authentication, anti-phishing support, address whitelisting, and other strategies. The dual MSB licenses take care of the regulatory landscape, making it functional across Canada and the U.S.

Yes, like any other reputed centralized exchange, even BYDFi requires KYC verification. This ensures the CEX complIES with international regulatory standards. Also, with KYC verification, the daily transaction limit increases to 10 BTC. And with KYC compliance, BYDFi also takes an aggressive stance toward illegal practices such as money laundering.

Where is BYDFi located?

BYDFi is a Seychelles-registered firm that started operating in 2019-2020 as BitYard. However, according to its Crunchbase profile, BYDFi is currently headquartered in Singapore. However, it is now spread out across multiple countries, 150+ to be exact, steadily making a global presence.

What are the payment methods for BYDFi?

If you want to trade crypto on BYDFi, you can rely on a host of payment methods. These include depositing fiat-based funds in your account via gateways like Banxa, Transak, and more. As for the payment, you can choose between Apple Pay, bank transfers, and other modes, depending on your preferences. Card-based payments on fiat gateways are also supported in case you want to purchase USDT for trading.

What is the minimum deposit for BYDFi?

The minimum deposit for BYDFi is 30 units of any crypto that you plan on purchasing. However, this holds only if you are planning to buy crypto assets directly from the payment gateways. There is no minimum amount for standard crypto deposits from other wallets, and BYDFi doesn’t even charge any fee.

How do I withdraw from BYDFi?

To withdraw funds, you need to head over to the “deposit” section and look for the “withdraw” tab. Once there, you need to select the amount of the given crypto you need to withdraw, select the network or chain, and feed in the address you need to withdraw the funds. You also need to verify the transaction using a unique password that is sent to your email ID as part of the two-factor authentication setup. Once all of that is done, you can withdraw. Notably, you need to pay a withdrawal fee while moving crypto across networks and addresses.

Can you use BYDFi with a mobile device?

Yes, BYDFi offers mobile accessibility through its dedicated mobile application available for both Android and iOS devices. This app allows users to manage their investments, execute trades, and monitor the market on the go. The mobile platform is designed to provide a seamless and user-friendly experience, ensuring that users can access all the features of the desktop platform, including real-time data, account management, and customer support.