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What is BitYard Exchange?
BitYard Exchange is a, relatively, one-stop trading platform, based in Singapore. This exchange is available in over 150 countries and offers lots of basic and advanced features that are great for crypto traders and even online casino players.
While crypto traders can appreciate features like leverage when buying and selling crypto, casino players can also look forward to adjustable transaction fees. BitYard is one of the very few crypto exchange platforms that enable users to adjust fees according to their liking.
Fees can be as low as 5 USDT or as high as 20,000 USDT and this is great if you are planning to get as much crypto as you can for your next online casino session.
There are a few downsides, unfortunately. Two of the biggest downsides are not being able to stake investments or not being able to withdraw funds in fiat currency. Despite the downsides, BitYard has become a very popular crypto-exchange platform, which is especially impressive for a crypto-trading platform that isn’t even 5 years old.
BitYard started operation in 2019. Their main headquarters are located in Singapore. Their services are regulated by American Money Services Businesses, the Estonian Financial Crimes Enforcement Network of the European Union, and the Singaporean accounting and Corporate Regulatory Authority.
BitYard’s aim is to make complicated trades seem easy. While other platforms can make advanced crypto trading seem daunting, BitYard uses various tools to make simplify it. Because of these reasons, BitYard may not seem all that useful to online casino players who only need to fund their crypto accounts. Fortunately, the company also incorporates adjustable fees.
Depending on how much the users are willing to pay, the transactions will be done faster. In the case of online casino players, if they don’t mind waiting a bit, they can simply pay the lowest fees (5 USDT per transaction). This is one of the best places for crypto trading if you can’t stand high transaction fees.
BitYard is also incredibly easy to set up and use. Creating an account only takes a few minutes without any KYC at all. While BitYard hasn’t existed for a very long time, ever since it was operational it has never had a major attack. BitYard’s security is tight and, since writing this, has never been breached.
Pros and Cons of BitYard Exchange
- Does not allow fiat withdrawals
- No option for staking crypto
- Still a relatively new crypto exchange platform
Using BitYard in Online Casinos
Using BitYard for online casinos is perfectly serviceable. Users can buy, store and sell their cryptocurrencies using a BitYard account. What makes BitYard a better choice than most online casinos is that it offers very low fees during crypto trading.
This lets casino players save some of their precious Bitcoin (or other cryptocurrencies) for a few extra spins at the casino. The account is also pretty easy to set up unlike lots of other crypto exchanges out there.
One thing that might drive away players is that BitYard does not allow any fiat withdrawals. In fact, BitYard only allows users to withdraw in Tether (USDT) which can be a turn-off. If you are planning to buy and use a BitYard account for online casinos, make sure you have accounts on other crypto trading services for withdrawing funds in fiat currency.
BitYard supported cryptocurrencies
Currently, BitYard accepts well over 40 cryptocurrencies. While that number might seem small compared to other exchanges, BitYard has been raising that number since it started operating so we are very confident that it will increase in the future.
BitYard can be accessed on almost all platforms, including the PC. While users are able to do everything by simply logging in to their account page using a browser, BitYard also allows users to download their PC app. Using the app has several advantages to the browser versions.
While it’s not necessary, the app is a handy tool for accessing your funds.
Just like all crypto exchange platforms out there, BitYard also has a mobile app. The mobile app is able to do everything that the PC version can do as well. Online casino players that play on mobile will be happy to know that with this app, they won’t really need the pc version at all.
Apart from having all the features of other versions, the BitYard app also includes features like two-factor authentication, face id recognition, QR code scanning, and other minor but useful features. The app can be downloaded via Google Play Store and Apple AppStore.
Security is something that BitYard takes very seriously. Unlike most other exchanges out there, BitYard itself is decentralized and has nodes all over the world. It would take an incredible amount of work, time, and money to even attempt to hack the BitYard system. Since writing this, the platform has never been hacked.
Other than that, it offers basic features like basic account encryption, passphrases, two-factor authentication, and others. Users who create wallets should keep their passphrases in safe physical locations.
It is important to note that, unlike other crypto exchange platforms, BitYard does not have any KYC.
One of the main draws of the BitYard exchange is its adjustable trading fees. Whenever an exchange happens, the buyer (and sometimes the seller) can choose how much they wish to pay in fees. Fees can be as low as 5 USDT or as high as 20,000 USDT. The higher the fee, the faster the transaction completes.
Unfortunately, this means that users might end up waiting for days until they receive their cryptocurrency from BitYard. This is also another reason why many users may wish to avoid the platform and stick to a different one that has higher fees but faster transactions.
BitYard Customer Support
BitYard has a really dedicated customer support team. The platform offers email support, 24/7 live chat support, and a robust FAQ section. Players can contact the platform whenever and check on their trades and solve any problems they might be facing. Many players who use BitYard claim that their customer services are pretty great.
The BitYard platform, as well as the customer support, focuses on crypto derivatives and is available in the following languages:
What users like
What users dislike
- No way to withdraw funds in fiat currency – Users dislike how needlessly difficult it is to withdraw funds from BitYard. Users can withdraw funds but it can only be done in USDT. This means that casino players need to create a separate wallet on a different crypto exchange website so they can turn their cryptocurrency into fiat. Because of this, we only recommend BitYard to players who generally hold a decent amount of crypto and who don’t mind transferring funds from one wallet to another.
- Slow transaction speed – While lower fees are a great bonus, the transactions themselves can take quite a while. If users pay the minimum amount for the trading services, they could potentially wait for a few days before the funds reach their wallets.
- No staking – Users aren’t happy that they cannot stake their crypto and receive rewards over time. This is because BitYard is more about trading than simply holding onto cryptocurrency.
Is BitYard Trustworthy?
Yes, BitYard is a trustworthy crypto trading platform with a straightforward interface that ensures easy navigation. Casino players who also happen to be crypto-enthusiasts will also find the exchange useful. It’s a great place to get started on your crypto gambling because you can get your hands on different coins at better prices.
On the other hand, if you want to buy crypto just so you can visit one crypto casino (and convert them back into fiat), then perhaps joining BitYard isn’t the best idea. What BitYard does, it does really well, but these features are only really useful for advanced crypto users.
Thank you for reading our BitYard review! We hope that this information has helped you in making your decision about this exchange platform.
Is BitYard safe?
Yes, BitYard is safe with a decentralized system which makes it almost impossible to get hacked.
Is BitYard good for online casinos?
BitYard is great for casino players who use a lot of different cryptocurrencies and many different wallets/exchanges. It is, however, not very useful to regular casino players who just need a simple exchange system.
Is BitYard available in my country/region?
BitYard is available in 150 countries and the list of availability only keeps growing. Unless you live in a region with very strict crypto regulations, you should have no problems registering for a BitYard account.
How to withdraw money from BitYard?
To withdraw money from BitYard, you need to visit your profile page and select the withdrawal option. From there, you need to convert what you wish to withdraw into USDT (Tether tokens). Finally, users simply need to enter the destination address of the receiving wallet and their USDT tokens will be sent.
Users cannot withdraw from BitYard in fiat currencies.
Which exchange is better than BitYard?
BitYard itself is a great platform for trading crypto but If you want a simpler exchange that offers fiat currency withdrawals, you can use exchanges such as Coinbase or Binance.
Can I get scammed on BitYard?
Yes, there is a possibility to get scammed if you aren’t careful on BitYard. Fortunately, the only way to get scammed is if you personally agree to a bad deal. Make sure you understand what you are buying/selling before you agree to a crypto trade at BitYard.