BYDFi - Three Years of Building My Dream Finance

6 94

Written by

PVMihalache

#Club1BCH

1 year ago

In community: Club1BCH(4ac4)

Topics: BYDFi, Bityard, Cryptocurrency, Defi, Writing, ...

BUIDL Your Dream Finance

You could join the 500,000 users over 150 countries that are already trading with BYDFi and enjoy the best tools that a crypto trader can use. I am using it since 2020 and I have many milestones to share!

BYDFi is reliable and regulated, has service diversification and easy deposits/withdrawal options. It's the One-Stop Trading Platform where you can copy verified traders and share their glory.

BYDFi is an old friend, one that never let me down. Keeping on top of the market is hard, but constantly innovating in the crypto space is even harder. BYDFi managed to achieve three years of constant evolution, while focusing on satisfying the customer's needs.

How was this possible? With fast swaps and efficient transactions, with community acknowledgment and new tools. Hive five my friend! Onwards and Upwards!

My first BYDFi article was written on the 13th of December 2022, with a platform review. Trading Platforms Street Fighter: Bityard is beating the competition put in the spotlights the reasons why BYDFi was different then others, in a time where OKX halted the crypto withdrawals due to some big financial issues.

To my surprise I won the first place, back in the day when there was a clear leaderboard for winners. I won $100 in ETH and that amount is now much bigger!

Three years later and BYDFi is still beating the competition, with fast deposit and withdrawal for both fiat money and cryptocurrencies. They have the fastest trading engine on the market, processing up to 1 million TPS, and 24/7 support via email and live chat.

We had a bad 2022, a crypto Mortal Kombat, but BYDFi kept strong! The exchange operates with licenses from four different countries: USA, Australia, Singapore, and Estonia. The Singapore’s ACRA (Accounting and Corporate Regulatory Authority), The American Money Services Businesses (MSBs), Estonia’s MTR (Register of Economic Activity) for the European Union, and the Australian Transaction Reports and Analysis Centre (AUSTRAC) are making BYDFi fully compliant with international laws.

For me BYDFi was a beacon of light, guiding me trough the worst crypto winter since 2018. I started using this exchange due to the lowest transaction fees and user-friendly mobile app, and started my derivatives journey as a crypto experiment.

I started with Crypto Contract Trading and even tried a bit of Derivatives Contracts for Gold and Silver. The contract trading is the method of trading that aims to gain profit from market volatility, forecast if the price of an asset will go up or down. The traders are not buying or selling the asset, and are not owing the asset. The contract only speculates the price.

The Demo trading was educative and I made profit on the contracts I opened. I closed all manually and with the built up confidence I moved to trading with real money. I went with the trend and opened "Long" contracts for Bitcoin and Ethereum, than patiently waited for the price to go up. This was my trading enlightenment!

I want to share my 10x story, as 50 USDT I had on BYDFi grew to $515 in two months. This is not financial advice, only my personal experience! My strategy was to manually close the contracts for set percentages of gain and open new contracts to back up the remaining ones. This strategy secured the current profit, leaving place for added reward if the bull run continued.

It's story that happened during bull run, and I played with "Long" BCH, ETH and BTC for days. As the trading went on, more profit was added in the pot. A mix of good strategy and basic crypto knowledge doubled my portfolio in few days.

The safest and most rewarding contract was Bitcoin (BTC), as my pot went 5x less than a month. I chose to explore new tokens for Contract Trading and the profit kept adding in the wallet. I followed the news in the crypto ecosystem for news or triggers announcing a value surge.

Every time a project was getting positive reviews in social media, or when an upgrade was announced, I used the information to open contracts. The information was widely available to everyone, but is important to separate FOMO (Fear of Missing Out) from the innovations or roadmap achievements.

Opposite to cryptocurrencies, the precious metals such as Gold and Silver where losing value. I started with small contracts shorting Gold and Silver, and added new ones while manually closing the ones that already generated a high percentage of profit. The Gold price continued the downwards trend and I added small contracts while closing the previous ones. This strategy raised the value of my wallet over 300 USDT.

Over the next days, gold depreciation continued. I was expecting the market correction and went short on the top assets, and took advantage of big BCH value drops. Never been a hardcore trader but I enjoyed this experiment.

I decided to stop when the USDT pot reached $515! How many times can a trader or a crypto investor share a successful 10x profit story? I am proud I've done it and I am thankful to BYDFi for the opportunity!

Want to hear more PVM stories? I once done copy-trading on BYDFi and made profits! We all know that crypto trading requires time and knowledge, backed up by constant following of the market. Successful traders are spending a huge amount of time to take advantage of market volatility.

I don't have the time (and knowledge) for this hustle, and I tapped into the BYDFi Copy-Trade Tool. This amazing allows beginners to benefit from the experience of professional traders, by mirroring his trades.

I had a look at the top traders and most had a high P/L ratio but not many trading days. I went for experience and chose a pirate called JackSparrow. This cutthroat had 233 trading days and a 3432.85% profit ratio in the last month.

Went all in with $21.21 worth of crypto for the experiment, and the mirrored trades keep rolling until reach a daily total of $12,000. Day 1 ended with 20% USD profit, then 2x the next day. Copy trading looked cool, and a good source of passive earnings.

JackSparrow knew some crypto magic stuff, as he added more money in my bag. The profit rate keeps growing and the week of plundering ended with $44.34 profit rate on BYDFi! Ahoy matey ... let's clear the deck and get a bigger treasure chest!

Copy-trading is a great tool and creates new opportunities for people with less knowledge in crypto trading. The experiment showed that money can be earned quickly, but money can be lost at the same accelerate rate. Don't forget the #1 rule of trading, play only with money you can afford to lose!

There's always something new to test! I dived into Perpetual Futures, and explored the BTC-USED perpetual on BYDFi. The Futures contracts are a special type of derivatives, with postponed payment and delivery until predetermined future dates.

This type of contract lacks a fixed settlement time and an expiration date, being more flexible than the classic futures trading. The trader can hold Long/Short positions as long as the maintenance margin is sufficient, with a minimal amount of collateral.

I went short on BTC, and made the right choice! The value of Bitcoin dropped from 30,145 USD close to 29,000 USD in matter of hours. Closed all for a good profit and went Long for the next half day!

BYDFi looks good isn't it? Just wait to see the Affiliate Program benefits, where the commission gets bigger for every friend invited. I achieved 45% commission after 96 crypto bros joined BYDFi trough my link, and earned a fair amount of crypto from the fees. My lifetime commission reached 2,745 USDT, including lite contracts, perpetual USDT-M and spot trading.

However, earning is not the most important aspect of life! I had the pleasure to have BYDFi involved in one of the charitable events that I organized, raising and donating money to Save The Children.

It went above and beyond any expectation as the amount raised was 10 times bigger then the set target. The crypto charity donations were simplified by The Giving Block, the best place to use crypto for charitable gestures. The Giving Block was founded in 2018, implementing new fundraising methods emerging from the cryptocurrency landscape.

We raised over $3000 worth of crypto in a month, and brought some smiles for underprivilege children. The biggest share was in 6.658 $BCH ($2,250), followed by $ETH, $UMA and even $SHIB! For me this charity event was the biggest achievement ever and proved that blockchain solutions are the future of day to day life!

You don't have to trust PVM blindly ... but you must know that BYDFi upholds a core value that focuses on building the future of cryptocurrency to accommodate everyone’s dream finance.

This vision was one of the reasons why the BYDFi was named one of Forbes’ recommended top 10 best cryptocurrency exchanges in 2023. In only three years of existence, BYDFi added 400 cryptocurrency trading pairs on its platform.

Many things happened in the last three years, and I am happy to celebrate one more year with BYDFi! Many years and even more crypto trading glory to follow! Happy Anniversary! Let's get this party started!

Happy 3rd Anniversary BYDFi! It's been quite a journey since 2022, and you've been a faithful companion. I am a better trader since I discovered BYDFi, and experimenting with derivatives enhanced my financial knowledge.

If you want a more decentralized approach for videos, watch the Odysee version of "Happy Anniversary BYDFI"! Same version, same PVM, but with more decentralized options than good old Youtube!

Why BYDFi? Because they are BUIDLing a better future for crypto trading!