You can trade cryptocurrencies on BYDFi. It’s simple to use, and users of all skill levels can use it. In 2023, the site changed its name to BYDFi, which stands for “BUILD Your Dream Finance.” In this article, we will explore the ways to set up a crypto auto-bot using BYDFi’s mobile app for automated trading.
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How to Register on BYDFi?
It’s easy to start with BYDFi. To join the market, it only takes a short time.
Steps for Registration
- Check out BYDFi.com.
Any browser can take you to the leading BYDFi site.
- Sign up
Click the “Get Started” button in the upper-right area of the home page. You can use your phone number or email address to sign up.
- Sign up by email
- Type in a real email address.
- You’ll get an email with a verification code. Type in the code that you were given.
- For your password, use letters, numbers, and symbols of all shapes and sizes, and make it between 6 and 16 characters long.
- Once you’re sure of your password, click “Get Started” to finish signing up.
- Signing up on a phone or tablet
- Type in your phone number after picking your country or area.
- Get a verification code by text message and enter it.
- After you type in your password, click “Get Started.”
- You will be able to log in to your BYDFi account after you have properly registered. New users can often get a welcome bonus of up to 2,888 USDT.
How to Deposit and Withdraw on BYDFi?
With BYDFi, you can enter more than 160 different blockchain-based coins.
Click on “Deposit”
- The “Deposit” button is in the upper right part of the screen.
Pick digital money.
- Pick out the coin you want to use.
Pick a network and an address.
- For the payment, choose the right network. BYDFi will give you a wallet address to finish the deal. Make sure to recheck the address and network so you don’t mess up.
- With a credit or debit card, a third-party payment processor, or both, you can buy coins with real money. Just click “Buy Coin” after “Deposit” to buy.
How to Get Money Out?
It’s also easy to get your money out of BYDFi, but you can only do it with cash.
- Pick up “Assets”
Tap “Withdraw” on the platform page.
- You can choose a network and a coin.
Pick the network and coin that you want to take out.
- Please fill out the form.
Type in the location of your wallet, the amount of money you want to take out, and the password for your funds.
- Withdrawal in Full
In order to finish the deal, click “Withdraw.”
If your account is still being verified, please be aware that the limits on payments may change.
Tips On Set Up A Crypto Auto-Bot
This company, BYDFi, sells many different items that can be used by both new and expert traders.
- Spot Trading
On BYDFi, you can sell more than 900 different cryptocurrencies. There are two types of interfaces: one for new users and one for more experienced ones. Traders can buy and sell by putting in either limit or market orders.
- Derivatives Trading
BYDFi, let traders bet on the price of crypto assets with up to 200 times the amount they put in. This is for more experienced traders. With a perpetual futures contract, traders can guess what will happen to the value of cryptocurrencies without having to worry about when the deal will end. You can pay them in USDT or the coin that the payment is based on.
- Demo Trading
BYDFi has a feature called “demo trading” that lets you practice trading without using real money. With a demo account, you can try out the platform’s benefits without having to worry about losing money.
- Trading Bots and Copy Trading
Grid trading bots let you trade on BYDFi without having to do anything. You can also do Trade Duplicate, which enables you to use the same methods that traders who have been doing it for a long time. New traders who don’t know much about the market can use this feature.
BYDFi Trading Fees
BYDFi has a straightforward way of setting fees:
- There are no fees for putting in crypto.
- The fees you pay to withdraw your cryptocurrency depend on which network you choose.
- The prices of making and taking trades on the spot market are between 0.1% and 0.3%.
- There are fees for trading derivatives. For permanent contracts, there is a maker fee of 0.02% and a taker fee of 0.06%.
- You can also get leveraged tokens and convert them for a low fee. There is only a 0.2% fee for token transfers.
User Experience
The BYDFi software was created to be simple to use. It’s suitable for both new and expert traders because it’s easy to use and well-organised. People from all over the world can use the swap because it works with over 22 languages.
BYDFi Security
This app cares a lot about safety. Strong encryption and two-factor authentication (2FA) keep users’ info and accounts safe. The crypto assets are also kept in cold storage wallets, and multi-signature technology is used to make them even safer.
Licensing and the Law
Many government agencies, like FinCEN in the US and FINTRAC in Canada, keep an eye on BYDFi and make sure it follows their rules. In the crypto market, this makes it look more trustworthy.
Customer Support
On the BYDFi app, there is a chatbot that you can talk to and that can help you at any time. You can also email [email protected] for help.
The Bottom Line
It is a strong site with many tools and features that can help traders of all levels. You can trade cryptocurrencies on BYDFi instead of Coinbase because it is easy to sign up, has a wide range of trading goods, doesn’t cost much, and has strong security features.
FAQs
Do BYDFi need to check your KYC?
Signing up for an account doesn’t require verification of your identity. That being said, KYC will get rid of limits on transactions.
There must be a BYDFi app for phones, right?
Yes, you can use all of BYDFi’s trade features on your phone. The app is available for both Android and iOS.
How long does it take to transfer or delete money?
It takes longer to process deposits made with regular currency than deposits made with cryptocurrency. It could take anywhere from a few seconds to an hour to withdraw money, depending on the network.