BitYard, a good option for newbies

This is my entry for Club1BCH presents ... The Bityard writing competition. At first, I didn't think about writing for the contest. I don't know if it will be the years, but lately, I'm saturated with trying new exchanges, and I feel comfortable with the ones I have. So at first, I was reluctant. But after reading some of the articles that have been submitted so far to the contest, I was encouraged to create my account in Bityard.

Bityard is a cryptocurrency exchange and derivatives trading platform created in Singapore in 2019. If you are a pro in trading, what I will tell you here will probably not be very useful. Although, the platform seems to have all the tools that a pro trader needs. But my opinion will be based on its use by newbies like me when it comes to trading derivatives or crypto trading with futures. So without further ado, I will tell you from my point of view what I have liked about Bityard so far and why I will be giving it a try to the platform.

Pros of Bityard

• First of all, I must say that it's already a great success for me to be able to register from Venezuela, where many other platforms don't provide their services. Venezuela is one of the more than 150 countries from which you can operate on the platform. Bityard has licenses to operate and complies with the regulations of Singapore, the United States, and Estonia.

• The registration is very simple. You need an email address and that's it. They aren't lying when they say that you only need 3 clicks and 3 seconds to create your account and have it operational. Your account is ready to operate without KYC. You can withdraw up to 1500 USDT per day in this case. Which seems like a pretty decent amount. It's only required to verify the email or phone number and set up a security pin for deposits and withdrawals.

• The platform has a demo mode that allows you to trade without risking your coins. A very practical option for users who aren't experts.

• One of the things I decided to sign up for is the possibility of copy trading and learning a bit from more experienced people. This option isn't exclusive to Bityard, but I must say that I haven't used it yet on any other platform. So it's an option that I would like to explore.

• The minimum investment amount of two dollars is really attractive for those who are learning and/or don't have much investment capacity but want to enter this world.

• The commissions for trading are competitive at 0.05% and there is also the option to see these reduced with daily mining.

• The possibility of mining every day and obtaining gift coins that serve to cover the commissions of the site is a plus. Every day the platform offers you the possibility of mining some coins that you can transfer to a gift money coupon that, although it cannot be withdrawn from the platform, serves to cover the commissions of trading operations.

• The affiliate program looks pretty cool. Up to 40% on trading fees.

Cons of Bityard

• A weakness could be that the platform, for now, doesn't allow the deposit in FIAT currency. And the options for cryptocurrency deposits are limited for now to just a few of them. One of the options I miss is to be able to deposit BCH. Although, you can trade with it on the platform.

• And a weak point that I found was that among the languages ​​that the platform has enabled, there wasn't Spanish. I hope this is an option that will be added in the future.

Coins I'm bullish with for Q4

Of the currencies that can be traded on Bityard, I'm bullish with BCH, of course. I expect the interest around SmartBCH will increase even more in the next weeks. And that gives a boost to the price of BCH.

I'm also bullish with Cardano. So I expect both cryptos to have an uptrend from here to the end of the year.

Closing thoughts

In conclusion, so far, the exchange seems friendly to me. The interface looks simple. And I will explore it more in demo mode in the next few days. And later in the week when I will be less busy, I plan to start trying the copy trading option.

So I will say that Bityard is a good alternative for those who have little experience, as is my case. And I'm sure that those who are experienced will be able to get good results with the use of the platform.

I encourage you to join the writing contest presented by #Club1BCH. You have until October 22nd. and you can review the contest rules here.

My UID BITYARD: 655512234445127680

Images credit - screen captured by me from BitYard site and edited with canva

All writing are my own unless otherwise stated.

© CoquiCoin  

You can find me also at Noise.Cash ⊛ Hive ⊛ Torum ⊛ Twitter

Until next time! ;)

October 18, 2021