BYDFi for beginners: The easiest way to start trading crypto

Cryptocurrency, sometimes called crypto-currency or crypto, is a digital currency designed to work through a computer network that is not reliant on any central authority like a government or bank.

According to Google, individual coin ownership records are stored in a digital ledger or blockchain, which is a computerized database that uses a consensus mechanism to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership.

The first cryptocurrency was Bitcoin, which was first released as open-source software in 2009. As of June 2023, there were more than 25,000 other cryptocurrencies in the marketplace, of which more than 40 had a market capitalization exceeding $1 billion.

Latest data indicate that as of April 2025, the cryptocurrency market capitalization was already estimated at $2.76 trillion.

Why start trading with BYDFi？

BYDFi is a one-stop social trading platform for individual investors, offering professional, convenient, and innovative trading solutions to global users since 2020. These include spot trading, perpetual contracts, spot investment, martingale, and spot/future grid.

With the slogan “BUIDL Your Dream Finance”, BYDFi takes cryptocurrency trading to a whole new level. The platform aspires to give users autonomy and leave a permanent imprint on the sector's progress.

Officially founded in 2020, BYDFi had been online for nearly three years before it was renamed in 2023 in response to changes in the encryption market. By allowing traders, copiers, project teams, media, and other communities to interact and communicate, BYDFi creates a trading environment ideal for both beginners and professionals. Currently, BYDFi serves users across over 190 countries and is trusted by more than 1,000,000 users globally.

BYDFi stands for “BUIDL Your Dream Finance.” BUIDL is a slang term for "build" that is popular in the cryptocurrency community. In addition to its original meaning, the term encourages people who believe in the future of cryptocurrency to take action to achieve their dreams. The “F” in BYDFi stands for Finance and the “i” stands for each individual person. In the future, the potential uses of cryptocurrencies will be more expansive and not limited to recent applications like NFT, Metaverse, and GameFi.

BYDFi’s evolution: A leap in brand growth

BYDFi's rapid rise in the crypto field is reflected in a series of key milestone events:

In April 2020, the platform officially launched, marking BYDFi's entry into the cryptocurrency trading market, before it expanded in 2021 to support over 500 spot trading pairs.

In August 2022, the platform introduced perpetual contract trading, offering over 150 contract pairs and providing flexible leverage from 1x to 200x. This was followed by a complete global brand strategy upgrade, rebranding from BitYard to BYDFi, and being listed on authoritative data platforms CoinMarketCap and CoinGecko, garnering widespread international attention in 2023.

By December the same year, the platform was ranked by Forbes as one of the world’s top 10 crypto exchanges, a position it continues to hold.

By October last year, the platform ensured that all its assets are fully backed with at least 1:1 reserves and began publishing periodic Proof of Reserves (POR) reports, setting the highest standards for asset security.

In November 2024, the platform officially joined the South Korea CODE VASP alliance, laying the foundation for future regulatory compliance in the Korean market before completing another comprehensive upgrade of the perpetual contract system. This upgrade introduced new positions allowed even without unrealised profits, bidirectional long/short position support for hedging and shared account funds under full margin mode to reduce liquidation risks

In February 2025, BYDFi entered into a strategic partnership with hardware wallet manufacturer Ledger, jointly launching the BYDFi co-branded wallet to further strengthen the platform’s user asset security system.

In April the same year, it officially launched BYDFi MoonX, a Web3 on-chain trading tool designed for the booming Memecoin market. Supporting both the Solana and BNB Chain ecosystems, MoonX marks a strategic upgrade for BYDFi—ushering in the CEX+DEX dual-engine era, combining centralized efficiency with decentralized freedom.

BYDFi not only holds dual MSB licenses in the US and Canada but is also a member of South Korea’s CODE VASP Alliance. [https://www.codevasp.com/page-alliances]

The users’ digital currencies held at BYDFi are stored offline in cold storage wallets, with multiple people required to authorize transactions. Withdrawals are restricted to a whitelist to prevent unauthorized transfers to any address not approved by BYDFi.

Key Highlights

BYDFi offers spot trading for over 900 cryptocurrencies with flexible leverage trading ranging from 1x to 200x

It has multiple payment options supported, including credit cards, debit cards, bank transfers, and third-party payment providers such as Apple Pay, Google Pay, Banxa, Transak, and Mercuryo

Key features include spot trading, perpetual futures, automated trading tools (such as Spot Investment, Martingale, Grid Trading, Copy Trading), and Demo Trading.

BYDFi uses top-tier security measures such as offline deep cold wallet storage, multi-signature technology, high-performance trading engine architecture, and AWS cloud services.

Welcome Reward

BYDFi strives to make cryptocurrency trading accessible to everyone by offering a generous New User Welcome Package worth 8,100 USDT. This reward is easily earned by signing up and completing a few straightforward tasks. These tasks are simple and help users get familiar with the platform while earning rewards at the same time.

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