BYDFi
Why Choose BYDFi
ByDFI is a cryptocurrency exchange that aims to provide a secure, efficient, and user-centric trading environment. With a diverse selection of supported cryptocurrencies, competitive fees, and a focus on innovative features, ByDFI caters to both beginner and advanced traders. The platform’s emphasis on security and ease of use makes it an attractive option for those looking to trade digital assets effectively.
Pros
- Broad range of supported cryptocurrencies
- Competitive fee structure
- User-friendly interface
- Strong security measures
Cons
- KYC process required for higher limits and certain features
- Limited fiat deposit and withdrawal options
- Less established compared to larger exchanges
- Restricted access in some regions
Fees
ByDFI offers a transparent and competitive fee structure for both spot and futures trading, with fees varying based on trading volume and user tier.
| Spot Maker std users | Spot Taker std users | Futures Maker std users | Futures Taker |
|---|---|---|---|
|
0.15% |
0.25% |
0.01% |
0.05% |
Security
ByDFI prioritizes user security through industry-standard measures such as two-factor authentication (2FA), cold storage for the majority of funds, and regular security audits. The platform also implements multi-signature wallets to enhance fund protection and operates with a transparent reserve policy, ensuring users’ assets are well-secured.
Deposit and withdrawal
ByDFI supports a variety of cryptocurrency deposits and withdrawals. Cryptocurrency deposits are generally free, with withdrawal fees varying based on the specific cryptocurrency. Fiat deposit and withdrawal options are limited but can be conducted via bank transfers and selected payment processors, subject to fees and regional availability.
Registration
The registration process on ByDFI is straightforward. Users need to provide an email address or phone number and create a password. For higher withdrawal limits and access to advanced features, users must complete the KYC verification process, which includes submitting personal identification documents and proof of residence.
Mobile Compatibility
ByDFI offers mobile applications for both iOS and Android devices. The apps replicate the functionality of the web platform, including trading, portfolio management, and market analysis tools. The mobile apps are designed to be user-friendly and efficient, allowing traders to manage their accounts and execute trades on the go.
Liquidity 24 h
ByDFI maintains a solid liquidity profile, with an average daily trading volume of approximately $500 million over the past six months. This provides sufficient liquidity for most trading pairs and minimizes slippage on larger orders.
Trading Pairs Supported
ByDFI supports a range of trading pairs, featuring over 150 pairs for spot trading and a selection of pairs for futures trading. Key pairs include BTC/USDT, ETH/USDT, and BNB/USDT. For futures trading, notable pairs include BTC/USD and ETH/USD, with leverage options up to 50x for select pairs.
| Spot # of Pairs | Std Futures # of Pairs | Perp futures # of pairs | Stock # of Pairs | indices # of Pairs | Forex # of Pairs |
|---|---|---|---|---|---|
|
~266 |
~150 |
~100 |
NA
|
NA |
NA |
Supported Regions
ByDFI offers its services in various regions, including:
- North America
- Europe
- Asia
- Africa
- Australia
Certain regions may have restrictions due to local regulations.
| Europe (EU) | Asia-Pacific (APAC) | North America (NA) | Latin America (LATAM) | Middle East and North Africa (MENA) | Sub-Saharan Africa (SSA) | South Asia (SA) |
|---|---|---|---|---|---|---|
|
Yes |
Yes |
Yes |
Yes
|
Yes |
Yes |
Yes |
KYC/AML Required
KYC verification is required for users who wish to access higher withdrawal limits and utilize advanced trading features. Without KYC, users are restricted to a maximum withdrawal limit of 1 BTC per day.
Overall Reputation
ByDFI is an emerging exchange with a growing reputation in the cryptocurrency community. It receives positive feedback on various review platforms, with users highlighting its wide range of supported cryptocurrencies, competitive fees, and user-friendly interface. Social media reviews emphasize ByDFI’s robust security measures and efficient customer support.
User Interface
The ByDFI user interface is modern, intuitive, and customizable. It features advanced charting tools, various order types, and multiple layouts to accommodate different trading styles. The platform is designed to be accessible to beginners while providing the depth and functionality that experienced traders require.
Demo account
ByDFI does not currently offer a demo account feature, which may be a limitation for beginners who want to practice trading without risking real money.
Education Facilities
ByDFI provides educational resources, including tutorials, webinars, and a comprehensive help center. The platform’s blog and support materials offer insights into market trends, trading strategies, and platform updates, helping users improve their trading knowledge.
Location
ByDFI is headquartered in Singapore, a prominent location for cryptocurrency exchanges due to its favorable regulatory environment.
Supported Languages
ByDFI supports multiple languages to cater to its global user base, including:
- English
- Chinese
- Japanese
- Korean
- Russian
- Spanish
Vpn Required Some Regions
In regions where ByDFI’s services are restricted, users may need to use a VPN to access the platform. However, users should ensure that this complies with local laws and regulations.
Customer Support
ByDFI offers customer support through various channels, including live chat, email, and social media. The support team is generally responsive and helpful, with most issues resolved promptly. Feedback from forums like Reddit indicates that ByDFI’s customer support is reliable, although response times may vary during peak periods.