Americans! Canadians! Listen up! I know Operation ChokePoint is real and your options for on-ramps to crypto are becoming fewer and fewer. And today I have a solution for you. It’s an exchange and you can do almost everything you can do on big, global Binance. Yet, Americans and Canadians can use it.
That’s a big difference. Futures, perpetuals, leverage, and hedges for your current positions are NOW available. And you see it running in the background here. It looks like Binance, but it’s not. It’s better. Ready to check it out with me? I’m serious. Americans, it’s time for you to meet BYDFi.
What is BYDFi?
BYDFi is a great exchange for our American and Canadian friends. And others too. You can do quite a lot there, as I will show you. But first, some background. BYDFi is based in Singapore and is well-regulated as a result. That’s something Binance doesn’t have either.
ANYONE from ANYWHERE except China, Pakistan, and 2 other small Asian countries can trade there. As we have seen, most exchanges fall into one of 2 categories:
- Crypto to Crypto ONLY.
- Fiat to Crypto and can do Crypto to FIAT.
So how does BYDFi have the best of both? You can get fiat to the exchange BUT also anyone from anywhere can trade on it. The answer is Third Party Money Services. BYDFi doesn’t touch your money. Instead common services like Banxa or Transak, who work similarly to Moonpay let you move funds to the exchange. Coinify and Paxful work with BYDFi too.
In fact, they even let you move funds from your Apple Pay or Google Pay accounts to fund your account. That’s good flexibility. And, no violation of money exchange/service rules in the US, Canada, or elsewhere. But now, let’s see why you want to trade here
Perpetual sub-wallets are available on @BYDFi for users who want to use different trading strategies, such as holding isolated and cross-margin positions at the same time.
Please check the article if you want to know the details: https://t.co/5dqIyzXbC9#BYDFi #crypto pic.twitter.com/I4rcBWNgDP
— BYDFi (@BYDFi) August 21, 2023
What is BYDFi Offering?
First, using these third-party services, BYDFi supports 54 different fiat currencies. That’s a lot of ways to get your money to the platform in lots of currencies. Here are important features:
1) Lots of Coins
BYDFi currently supports 443 coins trading against USDT in their Spot Market and 13 trading pairs with USDC.
2) NO KYC
Simply put, you can withdraw up to 0.5 BTC per day with NO KYC needed. Up to 10 BTC per day if you do KYC.
3) Many Markets
BYDFi has Spot, Leveraged Tokens, and Perpetuals markets. That doesn’t sound like a big deal since Binance and many others have these. But it IS a big deal. Americans and Canadians can access these services to trade or hedge against existing positions that they cannot on other platforms.
Again, another big plus for our American and Canadian friends. Plus they have Lite Contracts for beginners so you don’t lose your money all on one trade.
BYDFi APP has launched the "Coin List" feature! The "Coin List" feature is a new exclusive offering introduced by the @BYDFi exchange.
So…how to Create a "Coin List"?https://t.co/YwQWDI0s3Q#BYDFi #BUIDL #crypto #coinlist pic.twitter.com/l2KJFQVlAU
— BYDFi (@BYDFi) August 22, 2023
4) Welcome Bonuses
When you join up you get up to $213 in bonuses based on things you do in your account like setting up 2FA, which you should do anyway. The total bonus package could mean up to $2888 for you when you join up.
Now I’m going to make a deposit and show you how easy this is by depositing USDT on the BEP-20 network.
And then I will use the Spot Market to buy some Bitcoin. Honestly, it was so fast, the thing that took the longest was the block confirmation on the BNB Smart Chain. And you know those are fast, too.
Other Reasons Why BYDFi Is Better Than Binance
It’s not enough only that because our American friends can use BYDFi this makes it better. It is better for this reason. But there are more objective reasons too.
- BYDFi supports more coins than Binance does. Yes. It’s true. Binance supports 399 while BYDFi supports 433. That said, Binance does offer more trading pairs within those coins than BYDFi does. But combine the access and that all 433 are USDT or USDC trading pairs and that’s still a great deal for everyone. Not just Americans.
- BYDFi has a MUCH better reputation for customer service: When you have a question or an issue.
- It has a very user-friendly interface. You’ve been watching it almost this entire time and you see it’s very intuitive and easy to use.
- Good innovation. They beat Binance in both ‘lite’ futures contracts and their copy trade feature in perpetuals that are coming online before year-end, neither of which Binance has yet.
@BYDFi has launched the "BYD Point Center" feature.
Inviting friends can get points and the accumulated points can be exchanged for bonuses.
Come to accumulate your BYD points!#BYDFi #BUIDL #crypto #cryptocurrency #BTC #ETH #XRP #PointCenter pic.twitter.com/H2RkblQJjj
— BYDFi (@BYDFi) August 17, 2023
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by BYDFi. Copyright Altcoin Buzz Pte Ltd.
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