Compare BitYard vs. Binance – Which should you choose?

It can be difficult to select a single platform that can meet all of your trading needs. As a result, reading this article’s comparison of “BitYard vs. Binance” will give you a better understanding of the services these platforms provide and enable you to make an informed choice.

1. BitYard vs. Binance: Overview 

1.1 What is BitYard?

One of the most well-known and prominent cryptocurrency contracts exchanges in the world is BitYard. With its headquarters in Singapore, BitYard provides simple, quick, and secure cryptocurrency asset trading services to more than 150 nations. 

The MTR of Estonia for the European Union, the Singaporean Accounting and Corporate Regulatory Authority (ACRA), and the American Money Services Businesses all oversee BitYard Broker. Additionally active in Southeast Asia, BitYard serves the government-backed blockchain technology market for digital assets.

In 2019, BitYard was founded in Singapore, which is known as Asia’s Technology Capital. According to various BitYard reviews, BitYard has a reputation for being a globally recognized exchange for crypto contracts with a “complex contracts simple trade” business philosophy. By providing a variety of trading tools for their use, it aims to make the complicated trading experience for its users simpler.

BitYard’s brand slogan is “BitYard = Simple,” and their company philosophy is “BitYard is best for novices.” Additionally, this exchange provides a user-friendly interface, making it simple for traders to access the platform. It also offers competitive trading fees to its clients.

One of the main benefits of this platform is that traders can place trades with a minimum investment of 5 USDT and a maximum investment of 20,000 USDT, both of which come with the industry-standard interest rate of 0.05%. The trader should be aware that the potential reward increases with market risk. One of the beneficial features it provides to its clients is leverage, which ranges from 5x to 100x.

BitYard provides its traders with quick, easy, and secure digital contract transaction services. Recently, it hired Thai boxing champion Buakaw Banchamek to serve as its brand ambassador and promote its offerings. No other cryptocurrency trading platform has a brand ambassador to promote its products, making it one of the exceptional ideas. Recruiting a branding ambassador is primarily done to draw businesspeople from their home country and other areas.

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1.2 What is Binance?

Binance is an exchange which hosts crypto-to-fiat and crypto-to-crypto trades. This proves that they accept real money, such as US Dollars (USD) or Euros (EUR). The exchange was based in China when it was first established in 2017. However, due to China’s strict cryptocurrency regulations, the exchange has since moved to Japan, a country that loves digital currency.

Binance was founded by Changpeng Zao, better known by his initials CZ. It’s interesting to note that CZ was once responsible for developing several of the trading systems used by the Tokyo Stock Exchange.

Binance raised funds before launching their exchange through an ICO (ICO). This is very similar to crowdfunding, in which individuals contribute funds to launch businesses.

However, the use of cryptocurrency in place of actual cash investments keeps an ICO from being like any other. Investors received the Binance Coin, the company’s own cryptocurrency token, in exchange for participating in the Binance ICO, which raised the equivalent of $15 million (BNB). Binance is a token that is based on the Ethereum blockchain, despite being referred to as a “coin” by some.

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2. Compare BitYard vs. Binance: Features

BitYard

• One of BitYard’s main goals is to provide a more straightforward trading environment.
• Compared to other brokers, BitYard offers more simple tools, and their unique contract capabilities let traders execute trades without as much anxiety.
• To open an account with BitYard, the trader simply needs to register using an email address or a mobile phone number. They can then enroll as a client in about 30 seconds after that.
• Major digital currencies are now supported by this broker, enabling users to use them as assets.
• Additionally, BitYard intends to roll out fiat money.
• The user interface (UI) and mobile apps of BitYard are made with its traders in mind.
• A trader’s account can be funded easily, and this company accepts 16 different currencies for trading.
• Even though BitYard only made its debut in 2019, it is already present in more than 150 nations.
• Their website has even been translated into eight different languages to help their clients around the world.
• The agents facilitate a system for transferring money between superiors and subordinates.

Binance

• Binance offers more than 65 tradable coins to customers in the United States. This gives cryptocurrency traders a variety of options.
• Peer-to-peer, spot, and margin trading are some of the trading options offered by Binance.
• The order types that are available include limit, market, stop-limit, stop market, trailing stop, post only, and one-cancels-the-other order.
• Users can tweet their issues to Binance via its support Twitter account (@BinanceHelpDesk).
• The website’s support page also features a chatbox.
• The Federal Deposit Insurance Corporation insures all U.S. dollar balances on the Binance.us platform (FDIC).
• Some of the lowest fees in the market are offered by Binance. Despite being less expensive than other major platforms, users in the United States will likely pay more on Binance.us.
• On Binance’s dashboard, you can keep an eye on analytics, market trends, your own portfolio, and recent and current trades.
• Deposits and withdrawals are easy. You can do it by finding the “Spot Wallet,” choosing the assets you want to buy or sell, and then following the on-screen directions.

3. Compare BitYard vs. Binance: Getting started

BitYard

You can deposit money into Bityard using a number of methods. Fiat currency can be used to purchase cryptocurrencies. A trading terminal that is easy to use appeals to beginners. A sizable clientele makes it easier to solve their issues quickly. Bityard can offer its customers in general excellent crypto exchange services.

BitYard has a user-friendly interface and one of the fastest engines in the world, making it one of the simplest platforms for trading cryptocurrencies. The trading process is extremely efficient thanks to BitYard’s trading engine, which can match one million transactions per second.

Due to BitYard’s ability to register users via email or mobile number, the registration process only takes three minutes. Before using all of BitYard’s tools, from advanced crypto trading to the trading of derivatives contracts, new users must confirm their registration. Top leverage, low trading fees, an easy deposit system, and nine available languages all improve the trading experience.

 

Binance

Binance is a one-stop destination for practically all of your cryptocurencies trading needs. You can buy and sell cryptocurrencies directly with peers on one platform, collect interest, liquid swap, buy and sell crypto loans, advertise your coins, and much more.

When trading on Binance, make an effort to protect cryptocurrency investors and improve account security. On August 20, 2021, Binance provided users with the following information:

• All users (both experienced users and new users) who register for a Binance exchange account MUST complete Intermediate Verification in order to access Binance’s products and services (also known as KYC – Know Your Customers). Cryptocurrency is accepted by Binance for trades, withdrawals, and deposits.
• The following services will temporarily not be available to older user accounts that have not finished Intermediate Verification: withdrawal of deposits, cancellation of orders, closing of positions, and withdrawal of deposits. between now and the upgrade.
• As a result, in order to start trading on Binance, the largest exchange in the world, you must finish at least Intermediate Verification, which entitles you to daily withdrawal limits of 100 BTC. For these Verification steps, I’ve provided comprehensive instructions below.

Binance also provides bonuses for signing up, and each time, the benefits are different. Here is an instruction of a bonus that you might get:

• Use the [Sign Up] button at the top right of this page to create a Binance account in order to be eligible for the $100 Affiliate Invited Welcome Offer. If not, when setting up an account, you will have to manually enter the referral ID for your affiliate. Look at the web address (URL) of this page and copy/paste the referrer ID that appears after “ref=” to find the correct referrer ID.

4. Compare BitYard vs. Binance: Mobile App

BitYard Platform Mobile App: The BitYard platform app offers excellent functionality, including technical charts, and shares the same capabilities as the desktop platform. The trader has access to one-touch order options and can keep track of their positions. Both iOS and Android users can download the BitYard app.

Binance Platform Mobile App: The iOS version of Binance has received excellent reviews, but the Android version has performed poorly. The customer service has received praise. Additionally, it has the largest selection—more than 150 supported cryptos. Their Secret Asset Funds are also used to secure the accounts. For beginners, it might also be a little challenging to get along with.

5. Compare BitYard vs. Binance: Deposit and Withdrawal Features

BitYard Deposit and Withdrawal Features: BitYard offers far more withdrawal options than its rivals, up to a maximum of 100,000 USDT. It provides seven different deposit options, which is unique among cryptocurrency exchanges. Additionally, it offers over-the-counter (OTC) facilities for traders to buy USDT at affordable trading costs.

Binance Deposit and Withdrawal Features: There are no deposit fees at Binance. Depending on the blockchain network they select, users pay a set fee for cryptocurrency withdrawals. Withdrawal rates are set by the blockchain network, which is subject to sudden changes due to external factors like network congestion.

6. Compare BitYard vs. Binance: Fees

BitYard Fees: BitYard assesses one-time transaction fees ranging from 0.075% to 0.5% when a trading position is opened. The award will be decreased by an additional 10% if their detailed requirements are met. If traders are accustomed to paying maker and taker fees on conventional cryptocurrency exchanges, they will be relieved to learn that the platform does not charge these fees.

Binance Fees: A 0.1% spot trading fee, which is less than many US exchanges, is charged by Binance. As a result, traders who are pressed for time should consider Binance. Additionally, there is a 0.5% Instant Buy/Sell fee available in the US.

7. Compare BitYard vs. Binance: Security

Is BitYard Safe: BitYard uses SSL technology and a very secure environment to protect both client funds and the trading platform. Another essential function is SMS authentication. Users can also review login logs, which enhance security settings and notify them of any unauthorized hacking or login attempts.

Is Binance Safe: App-based, SMS-based, and email-based two-factor authentication are all supported by Binance. Users can also choose to use security features like advanced access control for devices, device management with IP and wallet address whitelisting, and API access restriction.

8. Compare BitYard vs. Binance: Customer Support Services

BitYard Customer Support Services: Traders can get in touch with BitYard’s knowledgeable customer support staff whenever they have a question or a problem. The BitYard team is accessible to traders via email and online support. Additionally, traders can use the online service link to communicate with the robot or request a representative’s assistance.

Binance Customer Support Services: Binance offers three basic options for customer support: sending a complaint, asking basic questions in a chatroom, and getting in touch via Twitter.

9. Conclusion

Compared to BitYard, which debuted in 2019 but has experienced significant growth thanks to its straightforward features and security, Binance is a bit older. Each platform has developed strong security features to safeguard your assets. Additionally, they all have user-friendly layouts and aim to give their clients a satisfying trading experience.

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