BYDFi, established in April 2020, emerged into the cryptocurrency exchange landscape, initially operating under the name BitYard before its rebranding in 2022. Founded under the leadership of Michael Hung, the co-founder and CMO holding a computer science degree from Shih-Hsin University, this Singapore-based platform set out with a clear vision: to deliver a uniquely straightforward experience in leveraged trading.
BYDFi endeavors to simplify complex financial instruments through an intuitive and user-friendly interface. Offering a diverse array of cryptocurrency trading pairs, encompassing both established cryptocurrencies and a wide selection of altcoins, alongside various financial tools including spot trading, derivatives, and leveraged tokens, BYDFi has rapidly garnered attention. Its recognition by Forbes as one of the top ten best cryptocurrency exchanges in 2023 underscores its growing significance and the quality of its offerings. As BYDFi continues to evolve, a crucial question for potential users remains: can this relatively young exchange be trusted, and what essential insights should traders consider when engaging with its platform? This review aims to delve into these aspects, providing a comprehensive overview of BYDFi’s strengths and potential drawbacks.
| Exchange Name | BYDFI |
| Official Website | https://www.bydfi.com/ |
| Year Founded | 2020 |
| Location | Singapore |
| Security | Financial reserves, PoR, Cold Wallet |
| Features | Spot Trading / Lite Contracts / Perpetual futures / Leveraged Tokens / Copy trading / Demo trading |
| Trading fees | 0.1% – 0.2%~0.06% Fees |
| Maximum leverage | X200 |
| Download App | App Store – Google Play |
| Customer Support | cs@bydfi.com |
About BYDFI.com
BYDFi.com is the official website for BYDFi (BUIDL Your Dream Finance), a cryptocurrency exchange established in April 2020. Initially known as BitYard, the platform rebranded to BYDFi in 2022. This growth and reputation were further solidified in 2023 when Forbes recognized BYDFi as one of the top 10 global cryptocurrency exchanges, indicating increasing user trust and platform reliability. Today, BYDFi boasts a significant global presence, serving over 1 million users across more than 150 countries worldwide.
- Cryptocurrency Exchange: BYDFi offers a platform for trading a wide variety of cryptocurrencies, including major coins like Bitcoin and Ethereum, as well as numerous altcoins.
- Diverse Trading Instruments: Beyond spot trading, BYDFi provides access to derivatives like perpetual contracts (USDT-M and COIN-M) with high leverage (up to 200x), and leveraged tokens. They also offer “Lite Contracts” for simplified leveraged trading.
- Copy Trading: A key feature allowing users to replicate the trades of experienced and profitable traders on the platform.
- Grid Trading Bot: An automated tool for placing buy and sell orders within a defined price range.
- Fiat On-ramps and Off-ramps: BYDFi facilitates the purchase of cryptocurrencies with fiat currencies (like USD, EUR, GBP) through various payment channels and also supports selling crypto for select fiat currencies.
- MoonX: A newly launched (April 2025) Web3 on-chain trading platform integrated with BYDFi, specifically designed for meme coin trading with a focus on speed, security, and a user-friendly experience. It supports blockchains like Solana and BNB Chain and offers access to a vast number of meme coin pairs.
BYDFI Fees
Regarding fees, BYDFi maintains a transparent structure without undisclosed costs. Standard spot trading transactions incur a fee ranging from 0.1% to 0.3%, which is contingent on the specific cryptocurrency being traded. Importantly, users are able to review the applicable fee before finalizing any trade. Additionally, the exchange charges a conversion fee between 0.1% and 0.15%, with the exact percentage varying based on the particular cryptocurrency being converted.
Is BYDFi safe? security and regulatory
BYDFi places a strong emphasis on the security of user assets through a multi-faceted approach. The platform undergoes routine security audits and rigorous stress tests to ensure the resilience of its systems. For enhanced protection against potential cyber threats, user cryptocurrency holdings are securely stored offline in cold storage wallets.
The platform’s security framework is further reinforced by its dual Money Services Business (MSB) licenses obtained in both the United States and Canada. When it comes to withdrawals, BYDFi implements a two-factor authentication process, requiring both Google Authenticator and a personal identification number (PIN), thereby adding an essential layer of protection for user transactions.
BYDFi is committed to safeguarding personal data, utilizing the Jumio KYC system for user verification and information protection. Furthermore, the implementation of multi-party approvals, the segregation of user funds in separate accounts, and a strict whitelisting protocol for transactions contribute to an elevated level of security, positioning BYDFi as a secure and dependable environment for cryptocurrency trading.
In terms of its organizational structure, BYDFi operates as a global platform accessible in over 150 countries. While the precise location of its headquarters is not explicitly detailed on its “About Us” page, the platform’s commitment to regulatory compliance is evident through its acquisition of Money Services Business (MSB) licenses in the U.S. (Registration No. – 31000215482431) and Canada (FINTRAC MSB Registration No. – M22636235), as confirmed by their customer support. These licenses are crucial indicators of BYDFi’s adherence to financial regulations in key jurisdictions.
