Leading cryptocurrency derivatives trading platform – Bityard, has formed a strategic partnership with Binance. This partnership allows Bityard utilize Binance’s spot trading technology and offer instant cryptocurrency exchange services to its customers. Basking in this partnership, Bityard has launched spot trading services for over thirty (30) cryptocurrencies including popular DeFi governance tokens.
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Adding a spot trading facility expands Bityard’s niche and offers new and existing users more opportunities on the popular derivatives trading platform. For a widely used platform like Bityard, Binance’s impressive spot trading volume and spread offers great advantage in their quest to provide the best services.
Sentiments inclusive, you’ll unarguably name Binance exchange amongst your top three cryptocurrency exchanges. Well, being a cryptocurrency exchange is just one of its numerous contributions to the crypto space. Over a span of about four years, it has positioned itself as a household name in cryptocurrency and blockchain.
No doubt, you probably have your personal reservations about Binance and some of its products. It's actually hard to find a perfect system. However, its visionary and pace-setting moves are plausible. You’re possibly not impressed with the Binance exchange itself; but you can attest to the masterpiece of the Binance chain. Either way, Changpeng Zhao has really put a solid team together and they have really done a lot of great works.
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On the other hand; Bityard, a Singapore-based cryptocurrency derivatives trading platform has over the years offered one of the best contract trading experience. Launched in 2019, it has grown exponentially in user-base and efficiency of services. Offering contracts trading services to millions of users in over two hundred countries, Bityard has positioned itself at the top of cryptocurrency contract trading. With great security and customer services, contract traders seem to have found a new love in Bityard.
User friendly products, Potentials for further exponential growth; Binance shaking hands with Bityard is another important partnership in the crypto ecosystem. In a web of mutuality, the partnership offers important opportunities to both parties. While it simplifies the hurdle of adding spot trading services for Bityard, Bityard via its long standing derivative service expands Binance’s reach and introduces it to an extended market.
This partnership represents an opposition to the idea of ‘proliferating ideas and offering reduced standards’ instead of ‘leveraging existing solutions to offer more superior services’. The crypto space has been riddled by new and existing projects creating new versions of existing solutions. These new versions most times turn out to be an inferior version of the original solution. An avoidable tale which has become the norm.
Dating back to the early days of bitcoin and blockchain technology, proliferation of ideas to create a ‘better’ version has always caused infamous splits across the cryptocurrency communities. This practice has persisted since then and has transformed into a culture. The fact that there are over five bitcoin forks and tens of smart contract blockchains is evidence of this outspoken divide and ‘copy, paste and edit’.
A popular option for Bityard would be creating a completely new and independent spot trading platform and developing it alongside its already prominent derivative trading platform. A very popular practice. But opting for a collaboration with arguably the best spot trading platform simplifies the development of the core technology, and facilitates further optimization of this service on Bityard’s own platform.
Despite forming this partnership just recently, Bityard has already developed a user-friendly spot trading platform. Offering incredible volumes and spread thanks to the Binance partnership, Bityard’s spot trading platform has already attained a good level of efficiency. This would take longer to achieve when building from the scratch…if possible. Tons of new spot trading platforms have folded over the years, leaving investors in grave losses.
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Binance in return gains an indirect exposure to Bityard’s large Asian market and as well derivatives traders who would certainly utilize the spot trading extension on Bityard’s platform. Two of the best, expanding the use of existing solutions and offering mutual benefits to each other. Something the crypto space genuinely misses. The obvious success of Bityard’s spot trading platform as well its overall growth since this partnership proves this.
Collaborations speed up development and growth as well. Partnership’s between projects within and outside the crypto space have always made the news. However; sometimes it is blurry how this partnership has helped the projects grow, apart from the price jerks that accompany the announcement…of course. Bityard collaborating with Binance has brought organic growth to both projects and positioned them for an even brighter future. A perfect partnership for the crypto ecosystem.