In the ever-changing trading landscape, it takes more than just low fees and a decent selection of coins for a trading platform to stand out. It’s not easy for a trading platform to be recognized by Forbes, yet BYDFi has managed to become one of the top 10 best crypto exchanges, a nod to its solid features and growing global influence. But what makes BYFDi truly worth a closer look?
What Is BYDFi?
BYDFi (short for BUIDL Your Dream Finance) is a multi-functional crypto trading platform that was launched in 2020. Since it was founded, BYDFi has focused on offering intuitive, flexible and powerful trading tools for individual investors. It’s designed to serve both beginners and professionals, offering diverse financial instruments with community-based social trading.
With services available in over 190 countries and a user base exceeding 1,000,000, BYDFi has become a trusted name in the crypto space. Whether you’re a casual trader, strategic investor, or a copy trader looking to follow seasoned professionals, BYDFi provides a platform built to meet your trading goals.
Why Forbes Recognized BYDFi
Being recognized in Forbes’ list of top crypto exchanges in 2023 wasn’t a fluke. BYDFi: Premier 10 on Forbes is a badge of honor that reflects the platform’s achievements in performance, accessibility and innovation.
Here are some of the reasons why Forbes has highlighted BYDFi as one of the best:
- Robust Product Offering: Investors enjoy spot trading, perpetual contracts, demo accounts, and innovative trading bots.
- Wide Market Access: Support for over 900 cryptocurrencies, including mainstream assets and promising altcoins.
- High Leverage: Up to 200x leverage for derivatives, far beyond the industry average.
- Transparent Fee Structure: Spot fees as low as 0.1%, among the most competitive in the industry.
- 24/7 Multilingual Customer Support: Ensuring help is always within reach.
BYDFi Features That Stand Out
BYDFi comes with advanced features which have attracted the attention of industry leaders, including Forbes. It comes with a wide range of tools which can be tailored to casual and experienced traders.
What’s more, BYDFi recently launched a major upgrade for perpetual contracts, allowing traders to unlock unrealized profits, use automatic cross-margin mode, and improve risk management with advanced hedging. These upgrades are part of BYDFI’s commitment to innovation.
Here are some of the tools that make BYDFi stand out.
Spot Trading
With over 800 trading pairs, from BTC and ETH to trending tokens like SHIP and DOGE, BYDFi offers spot trading for diverse coins. The spot fees at BYDFi are 0.1%, which is much lower than other alternatives which usually start at 0.4%.
Perpetual Contracts
For perpetual contracts, BYDFi comes with up to 400 trading pairs, which includes USDT-M and Coin-M perpetual futures. With this platform, traders can get higher potential returns, greater flexibility, and convenience. With up to 200x leverage for perpetual contracts, BYDFi sets itself apart from other exchanges where the maximum leverage is around 100x and 125x.
Copy Trading
This is a powerful feature on BYDFi that allows you to follow expert traders with as little as $10. It offers flexible margin options, as you can choose between isolated and cross margin. The platform also supports multi-asset contract trading across different cryptocurrencies. The copy trading comes with a transparent fee structure, making it affordable for beginners.
Demo Trading
BYDFi offers a chance to try out crypto trading with a free 50,000 USDT demo account. With this feature, traders can test their investment skills and strategies before using real money.
Trading Bots
You can use smart algorithms on BYDFi to automate strategies for spot or futures grid trading. Bots for spot trading are available for over 100 trading pairs, allowing for high liquidity. As for futures grid trading, the bots will automate long or short contract trading within a particular period. But spot grid trading, one can automate buying low and selling high within a defined price range.
BYDFi Promotions You Shouldn’t Miss
BYDFi continues to welcome new users with attractive promotions. New users can claim rewards worth up to 8,100 USDT by completing simple tasks post-registration. It also allows traders to get started with as low as $10.
Traders can use fiat and crypto deposit methods to match users around the world. This allows beginners to enter the market with minimal risk.
Other Highlights of BYDFi
Here are some other highlights of using BYDFi for your investment purposes.
A Truly Global Platform
With users spanning over 190 countries, BYDFi offers multi-language support, including real-time multilingual customer service, localized promotions and trading campaigns, and globally accessible platform interface.
Transparent, Real-Time Metrics
This is another strong point in BYDFi’s favor, offering a transparent tracking system. Users can access trade histories, free breakdowns, and profit and loss overviews. This commitment to transparency gives traders a clear understanding of their trading performance.
Security and Player Safety
While no platform is immune to risk in the crypto industry, BYDFi takes several essential steps to promote user safety. These include routine internal security audits, multi-factor authentication options, and cold wallet storage for many users.
Final Verdict: Is BYDFi Worth It?
Now that it’s been added in Forbes’ Premier 10, BYDFi is certainly attracting the attention it deserves. Between its wide selection of trading pairs, high leverage, demo tools, and user-friendly design, it offers an accessible and competitive environment for all levels of traders.
