HomeNewsComprehensive Review on BYDFi 2023-Advanced Trading Features and Affiliate Program

Comprehensive Review on BYDFi 2023-Advanced Trading Features and Affiliate Program

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BYDFi is a crypto trading platform for global investors with headquarters in Singapore. Since its inception in 2020, BYDFi has been at the forefront of providing professional, innovative, and convenient trading options for individual investors.

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The platform was operating under the name “BitYard” in 2020. Since then, it has undergone a rebranding and was renamed “BYDFi” in January 2023. The platform’s transition demonstrates its adaptability to the ever-changing crypto market ecosystem.

“BUIDL Your Dream Finance,” the platform’s slogan, encapsulates BYDFi’s mission perfectly. Unlike traditional financial institutions, BYDFi empowers consumers by giving them control over their assets and decisions. This approach is consistent with the spirit of the crypto ecosystem, which values decentralization and individual autonomy.

With an array of features such as spot trading, lite contracts, perpetual contracts, and copy trading, BYDFi aims to empower users, allowing them to take control of their financial future and make a lasting impact on the crypto sector.

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BYDFi’s platform has a user-friendly layout that makes it simple for both new and experienced traders to utilize. The simple layout and user-friendly design make executing trades and maintaining assets a breeze.

Core Values

BitYard’s metamorphosis into BYDFi in 2023, along with the expansion of its brand name to “BUIDL Your Dream Finance,” represents a strategic decision to match the evolving crypto market and the platform’s future ambition. 

The smart use of the slang term “BUIDL” emphasizes BYDFi’s dedication to cultivating an engaged and proactive community of crypto believers. BYDFi empowers individuals to take action in shaping their financial future within the crypto market. 

The letter “F” symbolizes “Finance” and the letter “i” represents each individual person demonstrating BYDFi’s focus on providing tailored financial solutions to its users, putting the individual at the center of their own financial journey.

With the rise of NFTs, Metaverse, GameFi, and other applications in the industry, BYDFi’s choice to alter its brand name to represent its vision and objective is praiseworthy. It demonstrates its commitment to remaining at the forefront of the digital scene and creating creative solutions that fit its users’ different needs.

BYDFi Recommended By Forbes

BYDFi has recently been recognized by Forbes as one of the top ten best crypto exchanges in 2023. “The platform is focused on advanced crypto trading features that go well beyond the basics. BYDFi offers margin accounts, derivatives trading, and relatively low fees. While trading complex crypto derivative contracts isn’t for beginners, BYDFi aims to make the process as simple as possible,” noted Forbes.

BYDFi’s recognition by Forbes indicates that the platform is continuously striving to provide its users with cutting-edge solutions. This innovation includes competitive fees, the creation of crypto margin trading accounts, fast sign-ups, and user-friendly interfaces to enhance the overall trading experience.

What Coins Can I Purchase on BYDFi?

BYDFi currently offers over 400 different cryptocurrencies for trading, including popular ones like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB).

BYDFi also provides access to “100x GEM” cryptocurrencies that may not be available on other exchanges. “GEM” typically refers to a crypto that has the potential for significant growth or an undervalued asset that could experience substantial price appreciation in the future. 

Having the opportunity to invest in such gems on BYDFi can be enticing for traders seeking unique investment prospects beyond the more mainstream coins.

What Other Products Does BYDFi Offer?

BYDFi offers a comprehensive range of features and services to cater to the needs of cryptocurrency traders. Here is an overview of what BYDFi provides:

Leveraged Tokens

BYDFi provides leveraged tokens for popular cryptocurrencies like BTC, ETH, XRP, DOT, LINK, ADA, AAVE, ATOM, AVA, BCH, BNB, and UNI. These tokens offer 3x long and 3x short options, providing users with flexibility in their trading strategies.

Lite Contracts

Lite contracts enable leverage trading with simple rules, offering up to 125x leverage.

Users can explore this website for supported coins for lite contracts on BYDFi.

Perpetual Futures

BYDFi offers perpetual futures contracts, including USDT-M and Coin-M perpetual futures.

Traders can access up to 200x leverage for perpetual contracts, which sets BYDFi apart from other exchanges where the maximum leverage is typically 100x or 125x. Perpetual futures provide higher potential returns, greater flexibility, and convenience for traders.

Copy Trading

With a single click, BYDFi’s copy trading tool allows users to replicate the deals of experienced master traders. This tool is perfect for beginners who may be unfamiliar with technical analysis.

Users can follow profitable traders with a track record of success and filter traders based on their trading strategies and results.

Demo Trading

All users on BYDFi have access to a demo account with 100k USDT, allowing them to practice trading without risking real funds. The demo trading feature enables users to test their trading skills and strategies in a risk-free environment. This is especially beneficial for beginners to get familiar with the platform and the cryptocurrency market.

Fiat Gateway

BYDFi offers a user-friendly fiat gateway for new traders, making it easy to deposit funds.

Deposit options include credit/debit cards and bank transfers, supporting over 60 currencies. Partnerships with BANXA, Transak, Mercuryo, and Coinify assure global payment option coverage.

Comparing BDFi With Other Renowned Exchanges

When comparing BYDFi with other spot exchanges, including Coinbase, Kraken, and Crypto.com, based on various features, BYDFi stands out with its lower spot fees compared to Coinbase and Kraken, making it more cost-effective for trading.

BYDFi also offers the most extensive selection of spot pairs among the compared exchanges, providing users with a wide range of trading options as seen in the table below.


Exchange BYDFi CoinBase Kraken Crypto.com
Spot Fees 0.1% 1% 0.2% 0.075%
Spot Pairs 400+ 200+ 200+ 200+
XRP Spot 
TRX Spot  x x
TON Spot  x x x
Derivatives x
Copy Trading x x x
Free Demo Trading x x
Deposit and Withdraw without KYC x x
Trade without KYC x x x
24/7 Customer Support  x


Verification and Withdrawal Limits

Like KuCoin, BYDFi does not require KYC verification (“Know Your Customer”) from its users. This means that new users are not required to enter any extensive personal information or provide any proof of identity (copy of ID, proof of address, etc.). However, BYDFi users who have completed KYC verification enjoy higher daily payout limits.

Unverified users can withdraw up to 0.5 BTC per day, while verified users enjoy a higher withdrawal limit of up to 10 BTC per day. The difference in withdrawal limits encourages users to complete the KYC process, which can provide an added layer of security and may increase the level of trust between the exchange and its users.

Fees Structure on BYDFi

The fee structure for spot trading on BYDFi is the same as that for Inverse and USDT Contracts. The trading charge relates to the two execution types: Maker and Taker. 


Maker Transaction Fee Taker Transaction Fee
All Spot Trading Pairs 0.1%~0.3% 0.1%~0.3%



Spot Transaction Fee = Filled Order Quantity x Transaction Fee Rate

To calculate the BTC/USDT trading pair as an example:

If the current price of BTC is $40,000. Traders can buy or sell 0.5 BTC for 20,000 USDT.

Trader A buys 0.5 BTC using a Market Order with USDT.

Trader B sells 0.5 BTC using a Limit Order for USDT.

Taker’s Fee for Trader A = 0.5 BTC x 0.1% = 0.0005 BTC

Maker’s Fee for Trader B = 40000*0.5 BTC * 0.1% = 20 USDT

Side note: The trading fee unit levied is determined on the cryptocurrency purchased.

                  There is no trading fee for unfilled parts of orders or canceled orders.

Dedication To Security

BYDFi’s commitment to security is evident through various measures it has implemented to safeguard user assets and personal data. 

BYDFi holds both a US MSB (Money Services Business) registration and a Canada FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) MSB registration. These licenses ensure compliance with regulatory requirements in both countries and demonstrate a commitment to maintaining legal and regulatory standards.

The vast majority of digital currencies held by BYDFi are stored offline in cold storage wallets. Transactions from BYDFi’s cold wallets are restricted to a whitelist of pre-approved addresses. This strict whitelisting prevents unauthorized withdrawals, ensuring that only authorized addresses can receive funds from the platform’s cold wallets.

The exchange also employs a multi-party approval process for transactions, requiring multiple authorized personnel to approve and authorize critical operations. This additional layer of security reduces the risk of fraudulent activities and unauthorized transactions.

BYDFi’s Welcome Package

BYDFi’s New User Welcome Package is an excellent opportunity for beginners and those new to crypto trading. The package offers rewards to users for completing basic tasks, making it an enticing way to get started on the platform.

Simply registering on BYDFi and completing the KYC verification process qualifies users for a registration gift. 

BYDFi encourages users to take essential security measures by completing tasks like setting up Google two-factor authentication and configuring anti-phishing codes. These tasks not only enhance the security of users’ accounts but also help them become familiar with the platform’s security features.

BYDFi Offers Affiliate Program

BYDFi’s Affiliate Program offers enticing features to individuals interested in referring new users to the platform. The program provides a dedicated Affiliate Center with a centralized location where affiliates can access comprehensive details about their referrals and earnings.

BYDFi’s Affiliate Program distinguishes itself by providing a lifetime commission structure. This means that if a user signs up through an affiliate’s referral link, the affiliate will receive a commission on that user’s trading activity indefinitely. 

Affiliates can create up to 100 unique referral links within the Affiliate Center. Each link can be attributed to specific promotion channels, allowing affiliates to efficiently track the effectiveness of different marketing strategies.

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