How to Deposit and Trade Crypto at BYDFi

How to Deposit in BYDFi

How to Buy Crypto with Credit/Debit Card on BYDFi

Buy Crypto with Credit/Debit Card (Web)

1. Log in to your BYDFi account and click [Buy Crypto].

2. Here you can choose to buy crypto with different fiat currencies. Enter the fiat amount you want to spend and the system will automatically display the amount of crypto you can get. Choose your preferred payment method and click [Search].
3. You will be redirected to a third party site, in this case we will use Mercuryo’s page, where you can choose your payment order and click [Buy].

4. Enter your card information and click [Pay]. When you complete the transfer, Mercuryo will send the fiat to your account.

5. After the payment is completed, you can see the order status.
6. After successfully buying coins, you can click [Fiat History] to view the transaction history. Simply click on [Assets] - [My Assets].

Buy Crypto with Credit/Debit Card (App)

1. Click [Add funds] - [Buy Crypto].

2. Enter the amount you want to buy, choose [Next].

3. Choose your payment method and click [Use USD Buy] - [Confirm].


4. You will be directed to the Mercuryo’s page. Fill in your card order and wait for it to be completed.

5. After successfully buying coins, you can click [Assets] to view the transaction history. 

How to Deposit Crypto on BYDFi

Deposit Crypto on BYDFi (Web)

1. Log in to your BYDFi account and go to [Deposit].
2. Select the cryptocurrency and network you want to deposit. You can either copy the deposit address to your withdrawal platform or scan the QR code using your withdrawal platform app to make the deposit.
Note:

1. When depositing, please deposit strictly according to the address displayed in the cryptocurrency; otherwise, your assets may be lost.
2. The deposit address may change irregularly, please confirm the deposit address again every time before depositing.
3. Cryptocurrency deposit requires network node confirmation. Different currencies require different confirmation times. The confirmation arrival time is generally 10 minutes to 60 minutes. The details of the number of nodes are as follows:

   BTC	ETH	TRX	XRP	EOS	BSC	ZEC	ETC	MATIC	SOL
   1	12	1	1	1	15	15	250	270	100

Deposit Crypto on BYDFi (App)

1. Open your BYDFi app and choose [Assets] - [Deposit].

2. Choose the cryptocurrency and network you want to deposit.

3. You can either copy the deposit address to your withdrawal platform app or scan the QR code using your withdrawal platform app to make the deposit.

How to Buy Crypto on BYDFi P2P

P2P is currently only available on BYDFi app, remember to update to the latest version to access it.

1. Open BYDFi App, click [Add Funds] - [P2P transaction].

2. Select a tradable merchant for purchase and click [Buy]. Fill in the required digital assets by amount or quantity. Click [0 handling fee], after the order is generated, pay according to the payment method provided by the merchant

3. After successful payment, click [I have paid]. The merchant will release the cryptocurrency upon receiving the payment.

 

Frequently Asked Questions (FAQs)

What is the daily withdrawal limit?

The daily withdrawal limit will vary depending on whether KYC is completed or not.

• Unverified Users: 1.5 BTC per day
• Verified Users: 6 BTC per day.

Why is the final offer from the service provider different from what I see on BYDFi?

The quotations on BYDFi come from the prices provided by the third-party service providers and are for reference only. They may differ from final quotes due to market movements or rounding errors. For accurate quotations, please visit the official website of each service provider.

How long does it take for my purchased cryptos to arrive?

Cryptocurrencies are usually deposited into your BYDFi account within 2 to 10 minutes of purchase. However, this may take longer, depending on blockchain network conditions and the service level of a particular service provider. For new users, cryptocurrency deposits may take a day.

If I have not received the cryptos I bought, what could be the reason and who should I ask for help?

According to our service providers, the main reasons for the delay in buying cryptos are the following two points:

• Failed to submit a complete KYC (identity verification) document during registration
• The payment didn’t go through successfully

If you haven’t received the cryptos you bought in your BYDFi account within 2 hours, please seek assistance from the service provider immediately. If you need assistance from BYDFi customer service, please provide us with the TXID (Hash) of the transfer, which can be obtained from the supplier platform.

What do the other states in the fiat transaction record represent?

• Pending: Fiat deposit transaction has been submitted, pending payment or additional verification (if any) to be received by the third-party provider. Please check your email for any additional requirements from the third-party provider. Beside, If you do not pay your order, this order is shown "Pending" status. Please note that some payment methods may take longer to be received by the providers.
• Paid: Fiat deposit was successfully made, pending cryptocurrency transfer into the BYDFi account.
• Completed: The transaction has been completed, and cryptocurrency has been or will be transferred into your BYDFi account. 
• Canceled: The transaction was canceled due to one of the following reasons:
  • Payment timeout: Traders did not pay within a certain amount of time
  • The trader canceled the transaction
  • Rejected by the third-party provider

How to Trade Crypto at BYDFi

What is Spot trading?

Spot trading is between two different cryptocurrencies, using one of the currencies to purchase other currencies. The trading rules are to match transactions in the order of price priority and time priority, and directly realize the exchange between two cryptocurrencies. For example, BTC/USDT refers to the exchange between USDT and BTC.

How to Trade Spot On BYDFi (Website)

1. You can access BYDFi’s spot markets by navigating to [Trade] on the top menu and selecting [Spot Trading]. 
Spot trading interface:

2. BYDFi provides two types of spot trading orders: limit orders and market orders.


Limit Order 

1. Choose [Limit]
2. Enter the price you want
3. (a) Enter the amount of BTC you want to buy or sell
   (b) Choose the percentage
4. Click [Buy BTC]

Suppose you want to buy BTC and your spot trading account balance is 10,000 USDT. If you choose 50%, 5,000 USDT will be used to buy BTC.

Market Order

1. Choose [Market]
2. (a) Choose the amount of USDT you want to buy or sell
   (b) Choose the percentage
3. Click [Buy BTC]

Suppose you want to buy BTC and your spot trading account balance is 10,000 USDT. If you choose 50%, 5,000 USDT will be used to buy BTC.

3. Submitted orders remain open until they get filled or are canceled by you. You can view these in the “Orders” tab on the same page, and review older, filled orders in the “Order History” tab. Both these tabs also provide useful information such as the average filled price.

How to Trade Spot On BYDFi (App)

1. You can access BYDFi’s spot markets by navigating to [Spot].

Spot trading interface:

2. BYDFi provides two types of spot trading orders: limit orders and market orders.


Limit Order 

1. Choose [Limit]
2. Enter the price you want
3. (a) Enter the amount of BTC you want to buy or sell
   (b) Choose the percentage
4. Click [Buy BTC]

Suppose you want to buy BTC and your spot trading account balance is 10,000 USDT. If you choose 50%, 5,000 USDT will be used to buy BTC.

Market Order

1. Choose [Market]
2. (a) Choose the amount of USDT you want to buy or sell
   (b) Choose the percentage
3. Click [Buy BTC]

Suppose you want to buy BTC and your spot trading account balance is 10,000 USDT. If you choose 50%, 5,000 USDT will be used to buy BTC.

3. Submitted orders remain open until they get filled or are canceled by you. You can view these in the “Orders” tab on the same page, and review older, filled orders.

Frequently Asked Questions (FAQs)

What are Fees on BYDFi

As with any other cryptocurrency exchange, there are fees associated with opening and closing positions. According to the official page, this is how the spot trading fees are calculated:

	Maker Transaction Fee	Taker Transaction Fee
All Spot Trading Pairs	0.1% - 0.3%	0.1% - 0.3%

What are Limit Orders

Limit orders are used to open positions at a price that’s different from the current market price.

In this particular example, we have selected a Limit Order to buy Bitcoin when the price drops down to $41,000 as it currently trades at $42,000. We have selected to buy BTC worth 50% of our currently available capital, and as soon as we hit the [Buy BTC] button, this order will be placed in the order book, waiting to be filled if the price drops down to $41,000.

What are Market Orders

Market orders, on the other hand, are executed immediately with the best available market price – this is where the name comes from.

Here, we’ve selected the market order to buy BTC worth 50% of our capital. As soon as we hit the [Buy BTC] button, the order will be filled immediately at the best available market price from the order book.