BYDFi FAQ

Mar 06, 2023 415 0

Account

Can I open multiple accounts?

BitYard currently supports one Email or one Mobile Phone Number for only one trading account registration.

Why I cant log in to BitYard?

Please check if the login ID and password you entered are correct.

If you have forgotten your password, you can reset your password by clicking "Forgot Password?" And entering the login ID to receive the verification code, then reset your password.

If you still can not log in, please contact BitYard customer service immediately, we will help you as soon as possible.

What if I forget my login password?

If you forget your login password, you can click "Forgot Password?" on the login page, follow the instructions to enter the email or mobile phone verification code and reset the password.

Losing your BitYard Accounts Google Authenticator (GA) 2FA

Common reasons for losing access to ones Google Authenticator:

Losing your smartphone
Smartphone malfunctioning (Failing to turn on, water damages, etc)

Solution 1: Attempt to locate your Recovery Key Phrase (RKP).

For security reasons, BitYard does not store any accounts Recovery Key Phrase
A Recovery Key Phrase is presented in either a QR code or a string of alphanumeric. It will only be shown once, which is at the point of binding your Google Authenticator. Refer to the screenshot below:

Solution 2:

Please use the Email Address you registered with and email to our customer support.

First, provide us your UID, Real name, ID Number, then explain your reason and situation. You will need to upload a self-portrait shot of you holding your ID and the Bityard Paper. The paper must have the information you provided, todays date and a request for Google Authenticator deactivation.
If your Real Name Authentication(KYC) is not verified. You will also need to upload your ID/Passport with both the front and backside.

After we deactivate your Google Authenticator. You must complete your Real Name Authentication(KYC) in your account security within 3 working days(same ID you used for deactivation). If you are unable to complete your KYC, this may affect your accounts stability and security.

Furthermore, please include infomation regarding your accounts asset, recent transactions, and your usual and recent cities you login from.

Note: We will also highly recommend traders to send in this request using a computer/device and network broadband that is commonly used to log in to the affected BitYard account.

What if I cant receive SMS verification code?

Please make sure that the phone number you entered is correct, and keep your network connected. If it still does not work, please contact our customer service and provide your registered mobile phone number, our customer service will help you.

How to Bind Your Mobile Phone Number?

Step 1: Go to the profile icon-Account Security on the right-hand corner of your screen.

Step 2: Find and click Mobile for binding.

Step 3: Bind Mobile

Select your Country/Region
Fill in your mobile phone number
Click send, and Fill in the Captcha number you received

Set Google Authentication (2FA)

Click here

Change Google Authentication (2FA)

Click here

Disable Google Authentication (2FA)

Click here

Deposit

How long does it take to complete deposit

Deposit through OTC is real-time. Deposit through external wallets depends on congestions in the blockchain network.
There are three steps for blockchain asset transfers: Initiate - Block Confirmation - Credit

Initiate: The withdrawal platform or wallet has already performed a transfer.
Block Confirmation: Complete the block confirmation. If there are congestions and delays in the blockchain network, may cause the digital assets not be fully confirmed.
Credit: After full confirmation, BitYard will credit to your account as soon as possible.

What are the deposit fees on BitYard?

There will be no fees for deposit USDT-Bsc, USDT-Erc20, USDT-Trc20, BTC, ETH, TRX, XRP, EOS, DOGE.

BitYard fiat currency deposit is free of charge.

Tips: Third-party payment accounts are updated from time to time, and the latest payment information must be obtained before deposit.

Withdrawal

How long does it take to complete Withdrawal

USDT ERC20：Based on the Ethereum network, same time as the Ethereum Token transfer, it usually takes 10-20 minutes to be credited.
USDT TRC20：Based on the TRON network, same time with the TRON Token transfer, Normally it takes 5 minutes to be credited.

What are the Withdrawal fees on BitYard?

BitYard transaction fee per withdrawal:

BSC-1USDT
ERC20-10USDT
TRC20-1USDT

With or without KYC daily withdrawal limit

Coins	Wthout KYC	KYC
USDT	1,500	100,000
ADA	20,000	73,000
BTC	0.1	3
ETH	3	37
XLM	25,000	4,000,000
DASH	3	30,000
BCH	2	3,000
LRC	20,000	3,786,000
TRX	80,000	830,000
XRP	2,500	66,000
DOT	200	300,000
EOS	600	16,000
YFI	0.5	60
MKR	5	2,000
COMP	20	5,000
LINK	200	1,000,000
BAT	500	5,000,000
LTC	5	5,000
KNC	3,000	1,000,000
ZRX	500	5,000,000
OMG	200	150,000
REN	8,000	10,000,000
ANT	500	200,000
ENJ	15,000	150,000
MANA	20,000	10,000,000
ATOM	500	500,000
STORJ	5,000	1,500,000
SAND	50,000	26,109,000
XTZ	800	2,000,000
ONT	200	200,000
FIL	50	30,000
UNI	900	1,333,000
ALGO	6,500	500,000
BAND	380	38,000
SNX	1.42	7,360
AAVE	8.69	579
ETC	201	13,450
ZEC	16.5	1,101
ZEN	200	3,354
CRV	853	56,915
SUSHI	434	15,620
CVC	10,046	669,792
ALPHA	100	66,667
1INCH	519	34,614
UMA	145	9,700
GRT	2,632	174,794
WNXM	36	2,415
DOGE	20,000	100,000
KSM	14	934
MATIC	36,991	2,466,091
SOL	288	19,193
NEAR	580	38,722
EGLD	22	1,515
SXP	600	35,714
LUNA	698	465,114.65
OGN	6,521	434,782
XMR	10	652
KAVA	625	41,666
IRIS	22,058	1,470,588
FTT	114	7,651
FTM	10,197	679,809
BTT	3,543,586	236,239,073
BAL	45	3,035
OCEAM	2,631	175,438
BNB	29.3	1,955
SFP	574	38,314
CAKE	103	6,896
DODO	243	16,181
LIT	147	9,803
REEF	37,500	2,500,000
UNFI	65	4,348
XVS	20	1,355
AVAX	45	3,002
CHZ	3,300	220,000
HOT	130,000	8,600,000
VET	8,820	588,235
SHIB	70,350,000	4,600,000,000
TKO	535	35,700
FLM	2,000	130,000
ZIL	8,300	560,000
BAKE	215	14,285
ICP	7.5	500

Trading

Can I use the pending order function?

Yes, you can. But attention to the following:

1. The pending order can be successfully placed only when the available balance is greater than the sum of the initial margin and trading fee.
2. The price must be higher than the market price when you buy long and the price must be lower than the market price when you sell short.
3. The pending orders will not be canceled automatically.
4. Transaction fee will be charged only when the order is filled.

Frequently Asked Questions (FAQ) in BitYard

Market Order and Trigger Order

Market Orders

A market order is an order calculated as follows: estimated execution price = current price * (1 ± spread). Immediate execution of a market order consumes a large amount of liquidity.

Trigger Orders

A trigger order is not a limit order. A trigger order is a tool that allows you to set an order that will open when certain conditions are met. Once the price reaches the desired value, a trigger will be triggered and the order will be executed. Trigger orders are also part of the market order category.

What is Take Profit and Stop Loss?

To close your position automatically after a certain earning or loss, you need to set a Take Profit or Stop Loss price.

Default Stop Price: When placing an order, the system will set a default Stop Loss price, which is the price to suffer a loss equals 90% of the margin, as low as 1%.

Default Take Profit Price: When placing an order, the system will set a default Take Profit price, which is the price to achieve the profit equals 200% of the margin, If you want to achieve higher profit, you can set the Take Profit price to achieve 500% of the margin.

The lowest Stop Loss point can be set to 5% of the occupied margin and the highest Take Profit point can be set to 500% of the occupied margin.

For example, if the current value of bitcoin is 8,000 USDT when placing a long or buy position with a leverage of 20X and a margin of 100 USDT.

The default Stop Loss price is 8000*(5-90%/20), and the default Take Profit price is 8000*(5+200%/20).

Calculation Formula of Profit and Loss.

Profit and Loss from Long=(Open price-Close price)*Position

Note: The closing price is the buying-down price indicated by the current market

Profit and Loss from Short=(Open price-Close price)*Position

Note: The closing price is the buying-up price indicated by the current market

What is position?

An Orders position = Margin * Leverage/Opening Price

If the price of BTC is 10000USDT and you purchased with a margin of 1000USDT and 20x leverage, then the order position is 2BTC.