How BYDFi Challenges BingX with Its Derivatives System and No KYC Option
David Morey 
The cryptocurrency world is rapidly evolving, the competition is fiercer than ever and innovation has now become a necessity as it essential for moving forward in the market. Every trader desires reliability, flexibility, and innovation where cryptocurrency is involved, only going for the best of best social trading platforms.
BYDFi is a one-stop social trading platform that is not just keeping up with the trends but also setting new benchmarks in the cryptocurrency industry. It was launched in 2020 and has continued to set high standards especially with its recent leap into the CEX + DEX dual engine through its new Web3 product – MoonX.
With this and many more, BYDFi is challenging other established social trading platforms like BingX due to its exciting features like the no KYC option and advanced derivatives system. Let’s take a look at these features that places BYDFi at the forefront of social trading platforms.
An Advanced Derivatives System
One major advantage BYDFi has over BingX is its derivatives system. The social trading platform provides over 400 crypto trading pairs including Coin-M and USDT-M perpetual futures. It also offers up to 200× leverage for perpetual contracts which is significantly higher than the 100x or 125x leverage that other competitors like BingX offer.
This advantage is perfect for traders that want to enjoy flexibility and higher potential returns, as well as convenience. With this, traders can work on their own terms regardless of what they want to achieve because BYDFi is built for high-stakes trading.
No KYC Option
We all can agree on how much user privacy is increasingly valued in today’s trading world, serving as a disadvantage for traders who are not interested in revealing their identity. BYDFi does not join that list as it offers no KYC (Know Your Customer) requirements to get access to most functions.
Traders do not need to verify their identity to do certain things like trade, withdraw and deposit. The daily withdrawal limit depends on the verification status of the user. For verified users, the limit is 6 BTC per day and for unverified users, it is 1.5 BTC per day.
The no KYC feature places BYDFi above other trading platforms like BingX as it allows users to still enjoy benefits regardless of their verification status. Traders who prefer speed and anonymity are off to a great start with BYDFi.
CEX + DEX Dual Engine
With its recent launch of MoonX, an on-chain smart trading tool designed especially for Memecoin traders, BYDFi officially entered the dual engine era of centralized and decentralised platforms. This benchmark made BYDFi one of the first to complete this platform in the highly competitive global cryptocurrency exchange market.
MoonX gives its users access to more than 500,000 Memecoin assets which helps them to know high-potential tokens before they explode in the market. It comes with different advantageous features like automated trade execution, smart money tracking, and gas optimization. These features help to achieve BYDFi’s vision which is to make cryptocurrency trading accessible to everyone.
Even if you are just a beginner, the features will help you trade like a pro.
Numerous Cryptocurrency Options
With over 700 cryptocurrencies available for trading like Bitcoin, Ethereum, Dogecoin, Cardano, and Ripple, BYDFi boasts a rich selection of assets compared to other platforms in the industry. Its vast selection males it a perfect platform for traders to find the next big coin to trade with.
A Forbes-Recommended Exchange
What better social trading platform to choose from than a Forbes-recommended cryptocurrency exchange platform, that is, BYDFi. This trading platform was featured in Forbes list of the top ten best cryptocurrency exchanges in 2023. This is a prominent achievement which underlines is reputation and credibility.
Overall, this feature is a testament to BYDFi’s commitment to providing a reliable, secure and innovative trading experience for its users.
Creating an Account Made Easy
With all its unique and exciting features, BYDFi tops the list by making it easy to create an account so as to enjoy all the benefits offered. Users can create an account, verify their email address and start trading in minutes.
All you need to do is visit the BYDFi website, click on the sign up button and enter the required information to create an account. To complete the registration process, verify your email address.
Once your account is created, set up two-factor authentication by logging in to your new account, navigating to the security settings, and clicking on enable two-factor authentication.
To obtain crypto assets, connect your debit or credit card to your account, choose the specific amount you want to purchase, and wait for your transaction to be complete. You can check the third-party payment page on the platform’s website to check the payment methods available in your region.
You can also transfer crypto assets from other trading platforms or wallets to your BYDFi account.
A New Era in Crypto Trading
BYDFi is doing a fantastic job in reshaping the cryptocurrency industry surpassing other platforms in the industry like BingX. With its advantageous features like no KYC option, advanced derivatives system and Forbes recognition, it is setting higher standards in the industry making it a befitting choice for traders seeking for the best of the best.
