BYDFi Review 2023: Is It Worth It?

Launched in 2020, BYDFi has become a popular choice for crypto traders, offering 600+ cryptocurrencies, 200x leverage, and features like copy trading and perpetual contracts.

Launched in 2020, BYDFi has quickly become a popular choice for cryptocurrency traders, offering a wide range of trading options, high leverage, and features like copy trading and perpetual contracts. The platform stands out for its user-friendly design, non-KYC access, and seamless fiat gateway. Its highly-rated mobile app, strong security measures, and dual MSB licenses ensure a safe and accessible trading experience.

This BYDFi review covers its trading options, security, fees, and overall user experience, highlighting why BYDFi is a popular choice for crypto investors.

How BYDFi Works

BYDFi operates as a fully integrated cryptocurrency trading platform, providing users with a stress-free experience across various trading instruments. The exchange supports a numerous services, from spot trading and derivatives to automated strategies and copy trading.  

One of the standout features of BYDFi is its partnership with leading fiat on/off-ramp providers, including Banxa, Transak, and Coinify. These integrations allow users to move funds efficiently between fiat and crypto. They also make deposits and withdrawals both cost-effective and accessible. 

BYDFi offers access to over 600 trading pairs in the spot market, with deep liquidity and fast execution. The platform also caters to high-risk, high-reward traders with its up to 200x leverage on perpetual contracts. This surpasses the industry standard, where most exchanges cap leverage at 100x or 125x. 

Meanwhile, the platform’s trading bots and copy trading opens opportunities for passive income. BYDFi bots allow users to automate their strategies or mirror the moves of experienced traders.

BYDFi provides an ecosystem where users can swap cryptocurrencies instantly, participate in promotional rewards, and engage in peer-to-peer (P2P) transactions. With a presence in over 150 countries and more than a million registered users, BYDFi is an established exchange for traders.

Platform Features

BYDFi is a leading cryptocurrency exchange that caters to both novice and experienced traders. Forbes ranked it among the top ten best cryptocurrency exchanges in 2023, highlighting its secure, efficient, and innovative trading experience.

One of the key advantages of BYDFi is its extensive cryptocurrency. Traders can access major digital assets like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and Shiba Inu (SHIB), as well as emerging altcoins that are often unavailable on other platforms. 

Services BYDFi Offers

BYDFi provides a suite of trading services that accommodate both beginners and professional traders. The platform ensures that users have access to multiple ways to engage with the crypto market with its intuitive interface, deep liquidity, and a range of trading instruments.

Spot Trading

BYDFi’s spot trading feature offers access to over 600 cryptocurrency trading pairs, including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Dogecoin (DOGE), Cardano (ADA), and many more.

With deep liquidity and competitive fees, BYDFi provides a smooth trading experience for both short-term traders and long-term investors. The availability of lesser-known altcoins also makes it a prime destination for those searching for the next high-growth opportunity.

Perpetual Contracts

BYDFi offers perpetual contract trading, providing users with access to both USDT-M and Coin-M futures contracts. This feature allows traders to engage in highly flexible derivatives trading, benefiting from advanced risk management tools and enhanced profit potential.

BYDFi’s perpetual contracts offers 200x leverage. To further enhance the trading experience, BYDFi has introduced a new perpetual trading upgrade, incorporating features such as unrealized profit unlocking, advanced hedging strategies, and automatic cross-margin mode.

Copy Trading

BYDFi leads the industry in copy trading, allowing users to replicate the strategies of top traders effortlessly. With a low entry threshold of just $10, it’s accessible to beginners and small investors. The platform also supports isolated and cross-margin modes, giving traders control over risk and capital allocation. Users can trade a wide range of assets while benefiting from transparent fees and advanced trading tools like real-time charts and multi-indicator support.

Demo Trading

BYDFi offers a demo trading feature, allowing users to practice with 100,000 USDT in virtual funds. This risk-free environment helps traders test strategies, explore market dynamics, and familiarize themselves with the platform before committing real capital.

Spot Investment

BYDFi’s spot investment feature supports over 100 trading pairs, offering high liquidity for fast and efficient trades. This allows users to buy and sell assets seamlessly, ensuring smooth transactions in a dynamic market.

Spot/Futures Grid

BYDFi’s grid trading feature automates buying low and selling high within a set price range, helping users profit from market fluctuations. Spot grid