Ever wondered how to navigate crypto trading without getting lost in the jargon and earn rewards along the way? Beginner-friendly exchanges like BYDFi are here to simplify the process with easy-to-use trading tools and lucrative rewards.
Whether you’re interested in spot trading or exploring the complexities of derivatives, BYDFi offers seamless solutions tailored to your needs with access to over 600 trading pairs. Let’s see what’s the difference between those.
Spot Trading on BYDFi
Spot trading involves the immediate exchange of crypto at current market prices. On BYDFi, this process is straightforward and accessible – after creating an account, you can quickly deposit funds using various payment methods, including electronic payments and credit/debit cards.
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Then, just navigate to the “Spot” section, select your desired crypto pair and choose between a limit order (setting your preferred price) or a market order (executing at the current price).
BYDFi maintains competitive fees, charging a 0.1% fee for both makers and takers on spot trades.
Derivatives Trading on BYDFi
For those looking to delve deeper, BYDFi’s derivatives trading allows speculation on crypto price movements without owning the underlying assets:
- Perpetual Contracts (USDT-M). These contracts, settled in Tether
- Inverse Perpetual Contracts (COIN-M). Settled in the underlying cryptocurrency (e.g., Bitcoin
For perpetual contracts, BYDFi charges a maker fee of 0.02% and a taker fee of 0.06%.
Spot VS Derivatives: Which Suits You?
Choosing between spot and derivatives trading depends on your goals and risk tolerance:
|
Spot Trading |
Derivatives Trading |
|
|---|---|---|
|
Best for |
Ideal for those who prefer owning actual cryptocurrencies, suitable for long-term investments or immediate usage. |
Geared towards traders aiming to profit from short-term price fluctuations without holding the assets, utilizing leverage to amplify potential gains (and risks). |
|
Risk Level |
Low to medium risk (depends on the assets you trade) |
High risk |
Table: Spot VS Derivatives trading on BYDFi
So, spot trading is more for beginner or laid-back traders, while derivatives trading is for those who crave a bit more risk and excitement.
BYDFi’s Reward Center
Speaking of excitement, to make your trading journey even more rewarding, BYDFi offers a Reward Center where you can earn by completing various tasks. The rewards are divided into three categories:
- New User Rewards. You can earn up to 8,100 USDT for registering, depositing, and completing first-time trading tasks.
- Daily Rewards. You can claim BYD Points for daily deposits, spot and derivative trades or other activities (like inviting friends) and then convert them to USDT in futures bonuses.
- Hot Rewards. You can join the Maniac Calendar for daily rewards & claim Maniac Mystery Boxes (to get the latter, you’ll have to pass KYC).
All in all, whether you’re after the simplicity of spot trading or the thrill of derivatives, BYDFi makes it easy to dive into crypto at your own pace. Plus, with the Reward Center offering extra perks, your trading journey can be extra exciting and rewarding.
