Its absolutely no secret that I like Bityard and I use it for contract trading. This affinity for the platform was the result of the Publish0x writing competition which took place in December 2020.
I spent good hours exploring the platform and more time to write about it. "Trading Platforms Street Fighter" was the name of my article and it was my first creation that won the 1st place in a Publish0x Official Writing Competition
The prize was $100 in Ethereum, which grew nicely in the last two months. The prize is now valued $305.
Bityard is the world leading cryptocurrency derivatives exchange, fully regulated and compliant with international laws, with the main activity in cryptocurrency contracts with leverage and derivatives exchange.
As extra insurance for their customers, Bityard operates with licenses from four different countries: The USA, Australia, Singapore, and Estonia. This are the Singapore’s ACRA (Accounting and Corporate Regulatory Authority), The American Money Services Businesses (MSBs), Estonia’s MTR (Register of Economic Activity) for the European Union, and the Australian Transaction Reports and Analysis Centre (AUSTRAC)
Contract Trading
The contract trading is the method of trading that aims to gain profit from market volatility. This method allow the user to forecast if the price of an asset will go up or down, involving leverage. The traders are not buying or selling the asset, only speculating the price and forecasting if will drop or raise. Is quicker than holding assets but the risk involved with contract trading is higher. Contract trading is different from spot trading, because the trading instrument called contract allows the investor to trade on the price movement of the asset or physical commodity, at a future date or price. It involves leverage, and traders are not buying or selling the asset, only speculating the price. There are to available options, cryptocurrency contracts and derivatives, where the Bityard trading fee is only 0.05%, lower than the industry average. The Crypto Contract layout makes it easier for traders to select crypto contracts and gain profit depending on the market. Bityard has to different types of Contract Trading: Cryptocurrencies and Derivatives
Derivatives Trading
The Derivatives Contract tab offers leveraged trading options and allow traders to select and predict the price movement for precious metals, shares, bonds and even natural gas. In the right side of the interface, users can swap between Live and Demo, if they feel the need to practice before using real funds. The leverage for derivatives is up to 200x and users can buy or sell when the price is right.
The downside of derivatives is that some markets are closing during the night or over the weekend, while the cryptoverse is always awake. For derivatives contracts, Bityard has listed Crude Oil, Copper, Gold, Silver, Mini Dow, Nasdaq 100, Natural Gas, China A50, Hang Seng, DAX and Nikkei225.
If the natural resources and precious metals doesn't need any explanations, the other options can be explored in detail. The Mini Dow contracts are financial futures allowing users to hedge with the value of various components of the Dow Jones Industrial Average market. The Nasdaq100 the stock market index made up by 100 of the largest non-financial companies listed on the Nasdaq market. The China A50 Index is a stock market index containing the top 50 companies from Shanghai Stock Exchange and Shenzhen Stock Exchange while the DAX is a stock market index consisting of the 30 major German companies from the Frankfurt Stock Exchange.
In the following scenario, in Demo Mode, I used 4000 USDT to create a contract on the price of Gold. The trading fee was only 0.025%, the lowest in the industry. I used all my margin at leverage 50x. The price of gold must rise for my contract to close with profit.
After the confirmation, the gold contract will appear in the bottom of the dashboard, under the “Positions” tab. The contract details will include the name of the asset, the leverage, the chosen margin, opening price and opening time. The contract will close automatically if the price will raise or drop at the set value, or it can be closed manually by the user. Closing the contract manually is a method that can bring profit when the value is on the rise or reduce the loss if the price drops continuously. Closing the contract, as in the below figure, will generate 54.48 USDT (1.36% profit).
What makes Bityard special?
Bityard engine is the fastest on the market, processing up to 1 million transactions per second. The exchange is available for both mobile (Android & IOS) and web, and has the lowest transaction fees.
The exchange offers a complete range of tools, spot trading, contract trading for cryptocurrencies and derivatives. Bityard's interface is available in nine different languages with non-stop customer support via email and live chat.
The main factor for me is enjoyment, and the Bityard fast engine and the friendly mobile version makes my experience pleasant.
Since I started using Bityard I explored contract trading more, which made me understand better the crypto volatility.
* This is not financial advice ! So your own research!
Resources:
The fountains: PipeFlare ZCash, GlobalHive ZCash & Get.ZEN
Publishing bundle: Publish0x, ReadCash, LBRY & Presearch
- This article may have been published on ReadCash or Publish0X
