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Bityard Cryptocurrency Contract Exchange Mobile Friendly Website Exploration
Bityard is a cryptocurrency contract exchange platform. I have read many articles that pretty much covers the introduction of Bityard. There are those that emphasizes how user friendly it is even for elderly users, how it is not necessarily to trade yourself and just follow other professional traders through copy trading, and how it is certified and regulated by trusted regulators. However, these articles only shows the desktop screenshots which misses the target of users who are only interested in mobile. In fact, most of my friends never wants to try any applications that does not have a mobile version. So, this article will cover that missing part by showing screenshots of their well developed mobile version of their platform.
If this is your first time in contracts, futures, or forex trading, I can say to you while spot trading is like bartering where you either buy or sell an asset, contract trading is predicting what the price will be in the future whether we long if we think the price will rise or short if we think the price will drop and if we are right, we will get profit which is similar to gambling in my opinion with the difference of analysis involved and not just random guessing. While in spot trading there is margin, in contract trading there is leverage where we multiply our profit but also multiply our loss as well. A warning for beginners that eventhough we can win a lot we can also lose a lot where I once lost 2 Ethereum and therefore do not trade more than you can afford to lose. Also do not forget to read the rules as most beginners are probably confused that they lost assets eventhough the percentage is showing profit which probably they did not calculate the fees. Another suggestion for beginners is to always practice with demo trading first. Finally, enjoy not only cryptocurrency contract trading but also derivatives such as crude oil, gold, and silver.
After demo trading, the next we should check is the mining section. For me it is like a faucet that gives us small assets but the representation is made more attractive than most faucets like Cointiply's multiplier but also unlike Cointiply, it is available on mobile where eventhough Cointiply's multiplier can be accessed by mobile browser, it is very slow for some reason. Unfortunately, the assets mine from here cannot be withdrawn but can only be used to deduct trading fee. However, the most important thing in this mining section is to get some of their supply of their native currency BYD.
Now this is the most interesting feature for me called copy trading. We do not need to trade ourselves where we can choose to follow other trader's action instead. If the trader we follow longs bitcoin, we will long bitcoin automatically. We can also set the amount of asset to follow where not necessarily to trade the same amount as the trader. For example the traders longs USDT 1000 on bitcoin and if we set USDT 20, we will long 20 USDT on bitcoin. There are more advanced features such as stop loss to not willing to lose as much as the trader and the maximum amount of transaction to follow, and probably more features are coming. This is a great feature for me since I do not have time to follow the market and usually I am bad at trading where I did wrote here that I lost 2 ETH once.