Ever questioned the right way to navigate crypto buying and selling with out getting misplaced within the jargon and earn rewards alongside the way in which? Newbie-friendly exchanges like BYDFi are right here to simplify the method with easy-to-use buying and selling instruments and profitable rewards.
Whether or not you are enthusiastic about spot buying and selling or exploring the complexities of derivatives, BYDFi presents seamless options tailor-made to your wants with entry to over 600 buying and selling pairs. Let’s see what’s the distinction between these.
Spot Buying and selling on BYDFi
Spot buying and selling entails the speedy change of crypto at present market costs. On BYDFi, this course of is simple and accessible – after creating an account, you may shortly deposit funds utilizing varied fee strategies, together with digital funds and credit score/debit playing cards.
Do you know?
Subscribe – We publish new crypto explainer movies each week!
Learn how to Decide the Proper NFTs? (Animated DOs & DON’Ts)
Then, simply navigate to the “Spot” part, choose your required crypto pair and select between a restrict order (setting your most popular value) or a market order (executing on the present value).
BYDFi maintains aggressive charges, charging a 0.1% charge for each makers and takers on spot trades.
Derivatives Buying and selling on BYDFi
For these seeking to delve deeper, BYDFi’s derivatives buying and selling permits hypothesis on crypto value actions with out proudly owning the underlying belongings:
Perpetual Contracts (USDT-M). These contracts, settled in Tether
$1.00
, allow merchants to invest on crypto costs with out expiration dates, providing as much as 200x leverage throughout greater than 103 buying and selling pairs.Inverse Perpetual Contracts (COIN-M). Settled within the underlying cryptocurrency (e.g., Bitcoin
$89,518.09
), these contracts additionally present vital leverage, interesting to merchants utilizing their crypto holdings as collateral.
For perpetual contracts, BYDFi fees a maker charge of 0.02% and a taker charge of 0.06%.
Spot VS Derivatives: Which Fits You?
Selecting between spot and derivatives buying and selling depends upon your targets and threat tolerance:
Spot Buying and selling
Derivatives Buying and selling
Finest for
Very best for many who desire proudly owning precise cryptocurrencies, appropriate for long-term investments or speedy utilization.
Geared in the direction of merchants aiming to revenue from short-term value fluctuations with out holding the belongings, using leverage to amplify potential features (and dangers).
Danger Degree
Low to medium threat (depends upon the belongings you commerce)
Excessive threat
Desk: Spot VS Derivatives buying and selling on BYDFi
So, spot buying and selling is extra for newbie or laid-back merchants, whereas derivatives buying and selling is for many who crave a bit extra threat and pleasure.
BYDFi’s Reward Middle
Talking of pleasure, to make your buying and selling journey much more rewarding, BYDFi presents a Reward Middle the place you may earn by finishing varied duties. The rewards are divided into three classes:
New Consumer Rewards. You possibly can earn as much as 8,100 USDT for registering, depositing, and finishing first-time buying and selling duties.Every day Rewards. You possibly can declare BYD Factors for every day deposits, spot and spinoff trades or different actions (like inviting pals) after which convert them to USDT in futures bonuses.Sizzling Rewards. You possibly can be a part of the Maniac Calendar for every day rewards & declare Maniac Thriller Bins (to get the latter, you will must move KYC).
All in all, whether or not you are after the simplicity of spot buying and selling or the fun of derivatives, BYDFi makes it simple to dive into crypto at your personal tempo. Plus, with the Reward Middle providing additional perks, your buying and selling journey will be additional thrilling and rewarding.
