BitYard Review – Is This Cryptocurrency Exchange Legit?

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By Alex Halstedt

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Bityard Review

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BitYard Review

  • Trading Platform
  • Ease of Use
  • Fees
  • Trading Tools
  • Platforms Offered
  • Customer Service
  • Platform & Account Security


If you’re in the market for a new cryptocurrency trading platform and exchange, you may have come across BitYard. This platform is a crypto derivatives exchange that offers leveraged crypto derivatives trading. Additionally, BitYard also offers copy trading as well as contract trading and margin trading of other markets including FOREX and commodities. Does this crypto exchange sound like the right pick for your needs? Read our complete BitYard review to learn more.


  • Leveraged trading of up to 125x leverage on crypto derivatives contracts, 200x on commodities and indices, and up to 400x on FOREX pairs
  • BitYard supports a large variety of assets and trading pairs on the spot market
  • Copy Trading for those that are interested
  • Fully regulated with licenses displayed on the exchange website
  • Trading crypto is simple, with advanced trading instruments available for those that wish to use them
  • Rewards programs incentivize new users and long-time customers
  • BitYard customer support is highly responsive
  • Trading fees are relatively low, with many opportunities available to earn fee discounts
  • BitYard app for mobile devices is fully immersive and convenient to use


  • With BitYard being a new exchange, it still needs to have a proven track record to build a worthy and trustable reputation
  • Limited assets supported for deposit
  • No fiat deposits unless using the Fiat Gateway to purchase crypto in order to deposit on the BitYard platform

Choosing the right crypto trading platform can be a bit overwhelming with the numerous amounts of growing exchanges that exist in the industry. Each exchange has its unique features, and the BitYard trading platform is no exception. The BitYard platform is a crypto derivatives exchange offering leveraged crypto derivatives trading as well as contract trading/margin trading of other markets such as FOREX and commodities. The BitYard exchange also has copy trading as well as low trading fees associated with the trading of crypto assets. With these offerings, you might wonder, “Is BitYard Legit?”

This BitYard review will aim to answer any questions you may have about the BitYard trading platform, and highlight some of the key features that this exchange offers. The information that this BitYard review will cover will include:

  • A brief background of the BitYard platform
  • The various features BitYard offers and the experience of trading on BitYard
  • BitYard’s trading fees and other associated fees
  • BitYard customer support
  • Exchange security and account security settings
  • Setting up a BitYard account

As this BitYard review aims to cover the comprehensive services and key features that BitYard offers, the information within this BitYard review should not constitute investment advice of any kind. You are encouraged to do your own due diligence and seek out the investment advice of a financial professional before you start trading on any trading platform.

Bityard Main

Brief Background of the BitYard Exchange

BitYard is a relatively new crypto derivates exchange, having been established in November of 2019. The trading exchange is headquartered in Peya Lebar, Singapore. The exchange itself is owned and operated by BitYard Blockchain Foundation Limited. Adopting its motto of “Complex Contracts, Simple Trade,” the BitYard exchange was built on the premise of providing an easy-to-understand entry-point to leverage trading for newcomers compared to other leveraged exchanges in the industry. 

Is BitYard Legit?

The BitYard platform is a fully regulated exchange and holds a number of different licenses. BitYard is currently registered in Singapore through ACRA (Accounting and Corporate Regulatory Authority of Singapore). BitYard is also a registered money service business in the USA through FinCEN (Financial Crimes Enforcement Network) and also holds registration for an MTR through Estonia Financial Supervision Authority. If you are curious, BitYard proudly displays its registered licenses directly on the main page of its website.

Bityard Licenses

BitYard Trading Platform

BitYard offers a wide range of services and methods for crypto trading on its platform. The services offered are catered primarily to those who are interested in the leveraged trading of crypto assets through contract trading. However, BitYard supports trading styles of all types, ensuring that everyone can find use with their platform. If you’re new to the platform or to trading in general, BitYard does allow the option to demo trade with a paper trading account. 

With BitYard being a newer exchange, the platform has to derive its prices by using a weighted average from prices on other exchanges, utilizing external Bitcoin pricing data to ensure that the market reflects a true value at all times. The pricing data is broken down as such:

Spot Trading Platform

A very in-depth spot market is available on BitYard. The user interface features a stylish design with a charting window and trading tools (very similar to that offered by TradingView) as well as a running order book. Users can easily place a limit order or a market order, manage market positions, and view past trading history within the user interface as well.

All the crypto assets BitYard supports on their spot trading platform are easy to find and organized into different indices and trading pairs. Major digital currencies such as Bitcoin, Ethereum, and Bitcoin Cash are supported on the platform. BitYard supports the following assets as base pairs for crypto trading on the spot market:

  • USDT (with 218 assets tradable in this pair)
  • USDC (with 14 assets tradable)
  • BUSD (with 138 assets tradable)
  • EUR (with 32 assets tradable)
  • GBP (with 18 assets tradable)

Bityard Spot

Over-the-Counter Platform

BitYard offers OTC services (also known as the Quick Exchange) for those who are not interested in crypto contract trading or placing orders on the spot trading platform. The OTC service is ideal for those who wish to accumulate and/or convert digital assets in a simple manner without having to deal with the market risk of having open trading positions. 

The OTC market platform can easily be found in the Spot Market section. Currently, only the following crypto assets are supported:

  • Bitcoin
  • Ethereum
  • TRON (TRX)
  • Shiba Inu (SHIB)
  • DOGE
  • LINK
  • EOS
  • Curve DAO Token (CRV)
  • Ripple (XRP)
  • USDT

Bityard Otc

Bityard Otc Sell And Buy

Cryptocurrency Contract Trading

Cryptocurrency options trading is available on BitYard, allowing users to take advantage of leveraged trading instruments to maximize profits. The contracts offered through the crypto contract trading portion of BitYard are perpetual contracts based in USDT. Users can have access to up to 150x leverage for trading positions. At the time of this writing, BitYard supports the following crypto assets for leveraged crypto derivatives trading:

  • Cardano (ADA)
  • ATOM
  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Polkadot (DOT)
  • EOS
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • LINK
  • Litecoin (LTC)
  • Ripple (XRP)
  • TRON (TRX)
  • Uniswap (UNI)

The trading interface for crypto contract trading is very similar to the user interface for the spot market. Traders can select the amount of leverage they wish to use by utilizing a slider bar. Target prices and stop losses can also be set within the interface. BitYard even gives a brief token overview within the interface for each of its individual offerings. 

Bityard Crypto Contracts

Derivatives & FOREX Markets

In addition to crypto contracts, BitYard also offers contracts based on the derivatives market, as seen in the traditional stock markets. Using USDT, traders can trade contracts with up to 200x leverage on the following commodities and indices:

  • Crude Oil
  • Natural Gas
  • Copper
  • Silver
  • Gold
  • Mini Dow
  • Nasdaq 100
  • China A50
  • Hang Seng
  • DAX
  • Nikkei 225

Bityard Derivatives Contracts

Contracts on FOREX pairings are also offered through BitYard. Users can have access to up to 400x leverage for the following foreign currency trading pairs:


Bityard Forex Contracts

The trading interface for both of these markets retains the same familiarity and layout as seen with the user interface on the other BitYard crypto trading markets. What would traditionally be complex contracts to trade is simplified greatly with BitYard, making it an accessible entry-point for all traders.

Fiat Currency Gateway

At the time of this writing, BitYard does not directly allow for the deposit of fiat currency to fund an account. Therefore, the only way to fund an account with fiat currencies is by converting fiat currency to one of the crypto assets that BitYard supports through their Fiat Gateway. In a few easy steps, fiat can be converted to a cryptocurrency, which can then be funded into an account to start trading.

When using the Fiat Gateway, BitYard works with the 3rd party services Banxa, Transak, and Ramp, and XanPool. By proxy through the 3rd party companies, BitYard supports over 59 different fiat currencies in its Fiat Gateway. As it currently stands, only the following digital assets can be purchased through the Fiat Gateway:

  • USDT
  • Bitcoin
  • Ethereum

Bityard Gateway

Bityard Gateway Service Providers

Copy Trading

Copy-trading has become a popular service in recent years within the cryptocurrency industry. In an effort to follow and meet the demands of market trends, BitYard offers its own copy trading services. Within this service, BitYard account holders can opt to copy the trades of other traders, with a daily margin allowance of up to 12000 USDT. While copy trading might not be for everyone, it can be a viable source of passive income depending on the trader they are following; however, traders are still susceptible to the same market risk as if they were managing their own trades.

Bityard Copy Trade

BitYard Mobile App

For convenience and on-the-go trading and account management, a BitYard mobile app is available. The mobile application features the same functionality as seen on the desktop web version on the BitYard platform, including BitYard trading contracts, spot market, and copy trading services. The BitYard mobile app is available for both Apple and Android devices.

Bityard Mobile

BitYard Affiliate Program

The BitYard Affiliate Program is a multi-level system that allows users to earn up to 40% commission on the trading fees of accounts they have referred to join the BitYard trading exchange. This passive income opportunity is relatively simple to initiate. Users can share a referral link, prompting new users to sign up with the exchange. Once the referred users start to make trades, a commission based on the referred trader’s fees is paid out to the user. 

Bityard Affiliate Program

Bityard Affiliate Commission

Promotional Bonuses

BitYard offers incentivized promotional giveaways to users for completing certain tasks and milestones with their accounts. By doing simple things such as verifying a phone number to an account or surpassing certain trading volumes, BitYard will award a bonus of USDT that can be used to deduce trading fees for margin trading. Overall, this is a nice way to incentivize users to continue using the platform.

Bityard Bonus

Bityard Beginner Bonus

Bityard Trading Bonus

Bityard First Deposit Bonus

Daily Mining

Another promotional aspect that BitYard offers is called Daily Mining, which is similar to a cryptocurrency faucet. Users can go to the Daily Mining page and click on the images of coins that are embedded within a mountain range to “mine” a small amount of cryptocurrency. At the end of the session, the gift money received from the Daily Mining service can be converted to USDT and is only for use to pay for/reduce trading fees when trading contracts. 

Bityard Mining

BYD, BitYard’s platform token, is one of the rewards receivable with the Daily Mining service. The token has a supply cap of 210 million, with 10.24 million of the BYD platform token being distributed through the service. Each account can earn up to 16 BYD.

Does BitYard Really Have Low Trading Fees?

BitYard’s trading fees are indeed some of the lowest in the industry. With the possibility to reduce trading fees with promotional gift money through either Daily Mining or Promotional Bonuses, the fees for trading can end up being very low.

Whether you trade contracts or use the spot market or quick exchange, the fee schedule is the same, and is as follows:

  • Maker: 0.1% transaction fee
  • Taker: 0.1% transaction fee

An overnight fee does exist for contractual positions, which applies if a contract is held for over 12 hours. It is important to note that if a user does not have enough funds available to pay the overnight fee, the position will be closed. The overnight fee is as follows:

  • 0.05% transaction fee for every 12 hours

Deposit & Withdrawal Fees

Making deposits through the fiat currency gate incurs no fees on BitYard. There are currently no deposit fees associated with making deposits using the following cryptocurrency networks:

  • USDT-ERC20
  • USDT-TRC20
  • BTC
  • ETH
  • TRX
  • XRP
  • DOGE
  • EOS

If you are making withdrawals from BitYard, you may want to be aware of which network you are making the withdrawal from. For withdrawals, BitYard has the following fee schedule:

  • BSC – 1 USDT
  • ERC20 – 10 USDT
  • TRC20 – 1 USDT

It should also be noted that users that do not verify KYC information with BitYard will have limits to daily withdrawals for all cryptocurrency assets. Please note that while BitYard does not explicitly state minimum withdrawal amount quantities for assets, the number of assets being withdrawn will need to be larger than the withdrawal fees. 

BitYard Customer Support

The BitYard trading exchange has several resources available for customers. For general information, a very in-depth FAQ section exists to answer commonly asked questions. The FAQ covers topics such as account registration and funding, fees, KYC-related info, and other topics that may arise while trading crypto and using BitYard’s services. 

Bityard Faq

For more detailed information, the BitYard Help Center is an excellent resource. The Help Center features articles covering every service offered on BitYard in great detail. Users with zero knowledge of how exchanges work will be able to study up and proficiently learn all of the exchange’s mechanics within the resources provided in the Help Center.

Bityard Help Center

For those who wish to stay current with all of the latest happenings on the BitYard trading exchange, the Announcements page will have you covered. The Announcements page features all of BitYard’s official public statements regarding new listings, maintenance times, events, and more. 

Bityard Announcements

To stay extra connected to the community, the BitYard trading exchange has a number of social media profiles. BitYard can be found on:

  • Facebook
  • Twitter
  • Telegram
  • YouTube
  • LinkedIn
  • Steemit
  • Naver
  • Blogspot
  • Tumblr
  • Medium

If you should come across any issues or have any questions that may require a personal response, BitYard’s customer support team is available 24/7 via the Help Chat feature. A customer support team member will promptly answer any inquiries. Customer support is also reachable by email, which is provided on the BitYard trading exchange website. 

BitYard Exchange Security

The BitYard platform has several levels of exchange security measures against hacks and other events that could result in the loss of user funds. All funds are stored in multi-signature cold storage wallets. Cold storage is another term for wallets that are not exposed to the full elements of the internet. The trading engine that controls the price aggregation methods BitYard uses is also coded to ensure the highest security measures.

Users can (and should) set up Two-Factor Authentication with their accounts for an extra layer of security. Two-Factor Authentication is a security method that uses a 3rd party application to broadcast a unique verification code that is used for various account actions such as logins and withdrawals. 

BitYard also has an extremely secure server setup, using a Tier 1 security system through Ali Web Services. Like the multi-signature cold storage wallets, the servers require multiple forms of verification for access. All passwords are reported to be highly encrypted with SHA512 encryption.

While many leveraged exchanges in the industry tend to offer an insurance fund to guard against the loss of user funds due to an attack or malfunction, BitYard has a different method. The BitYard trading exchange instead performs real-time risk auditing to monitor exchange conditions. While this may not be the most ideal for some, one of the golden rules of cryptocurrency exchanges is to store funds in user-owned cold storage wallets (as opposed to on the exchange) to prevent the loss of funds. 

Opening a BitYard Account

Opening an account on BitYard is extremely simple. To begin, all you need to do is click the Register button. From there, you will need to provide a valid email address, to which a verification code will be sent. After providing a password and the verification code is correctly entered, the account will have been created. Once the account is created, you can fund your account and start trading immediately.

Bityard Sign Up

Signing up by mobile phone number works much in the same way as the email address method. Users will have to provide their phone number, to which an SMS code will be sent. After the code is entered along with the password, the account will be successfully created.

Bityard Mobile Registration

While users can start trading immediately once an account is open, they may have to provide KYC information depending on the services the user wishes to use. The Fiat Gateway requires KYC to be completed. As mentioned previously, there are also daily withdrawal limits if KYC is not completed.

Once users have registered with the exchange, they will be able to use the BitYard app in addition to the desktop web version. As mentioned previously, the BitYard app features the full functionality of the desktop version, with the convenience of being on a mobile phone.

BitYard Review Conclusion

Although it may be a newcomer to the industry, the BitYard crypto derivatives exchange offers a number of key features that make this a worthwhile exchange. Trading on BitYard is extremely simple, whether you wish to use the Fiat Gateway, the Quick Exchange, the Spot Market, or the Contracts markets available on the platform. With BitYard, complex contracts of crypto derivatives, commodities, indices, and FOREX are simplified, which can be a great starting point for new traders looking to understand how contracts work. 

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Alex Halstedt

Since 2012, Alex Hastedt has been fully immersed in the world of cryptocurrency. Since then, he’s continually educated himself on the latest developments within the crypto space. With over 3 years of formal business education, as well as over 5 years of trading experience (with over 400 hours of education), Alex commits to providing honest assessments of cryptocurrency projects and exchanges. It has become a personal mission of his to help educate those who may be new to the space, that they may not fall prey to poor decision making and other potential pitfalls he has witnessed others experience.

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