Frequently Asked Questions (FAQ) in BitYard

Frequently Asked Questions (FAQ) in BitYard


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.


Frequently Asked Questions (FAQ) in BitYard
Losing your BitYard Accounts Google Authenticator (GA) 2FA

Common reasons for losing access to ones Google Authenticator:

  1. Losing your smartphone

  2. 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:

Frequently Asked Questions (FAQ) in BitYard
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.

Frequently Asked Questions (FAQ) in BitYard


Step 2: Find and click Mobile for binding.

Frequently Asked Questions (FAQ) in BitYard

Step 3: Bind Mobile

  1. Select your Country/Region

  2. Fill in your mobile phone number

  3. Click send, and Fill in the Captcha number you received

Frequently Asked Questions (FAQ) in BitYard

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

  1. Initiate: The withdrawal platform or wallet has already performed a transfer.
  2. 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.
  3. 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

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

  2. 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.
 
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