Comparing Bityard and eToro in 2021
When it comes to cryptocurrency trading, selecting the most appropriate trading platform is equally as important as developing a solid trading strategy to be successful. The fact that there are so many trading platforms available on the market can make picking which platform to use seem like a nightmare, though. This essay will compare and contrast two trading platforms, namely Bityard and eToro, in terms of functionality. In this comparison, the platforms will be evaluated based on the most essential parameters that consumers consider when deciding which platform to utilize.
What exactly is eToro?
Etoro is a forex trading platform that was established in 2007. Over the years, it has expanded to cover stocks, derivatives, CFDs, and cryptocurrencies, among other things. In 140 countries, it serves more than 17 million customers, demonstrating its global reach. It is a multi-national licensed firm with licenses in many countries, including Israel, the United Kingdom, the United States, and Australia, among others.
What exactly is Byard?
Beard is a contract trading platform that trades in cryptocurrencies and derivatives, among other things. It was established in the year 2019. So far, it has over 100,000 registered customers in more than 150 countries around the world, making it one of the world’s quickest cryptocurrency trading platforms, according to CoinDesk. It has its headquarters in Singapore and holds multi-national licenses from Estonia, Singapore, the United States, and Australia, among other countries.
The design of the layout and the user interface
With its simple navigation, the Bityard website reflects the company’s mission of creating a trading platform that simplifies sophisticated trade. As a result, it is user-friendly, regardless of the level of experience of the trader. Traders have the option of trading through the website or through the app, which is available for both Android and iOS devices, respectively. Both the website and the app have identical features. There are numerous parallels between the eToro and Bityard systems to be found. The Byard website, on the other hand, features more charts, technical analysis tools, and a viewing interface that can be customized. In a similar vein, the Bityard app is easier to navigate because the majority of its functions are more easily accessible. The eToro platform contains a plethora of other tools, such as newsfeeds and market research, that are difficult to come by for a newcomer. If you are a new user of the eToro platform, you may discover that a brief training will be necessary to get you started.
Creating a bank account
To be able to trade on the platforms of EToro and Bityard, one must first register with the respective platforms. It takes only a few seconds to register for a new account. Byard allows you to establish an account using either your email address or your phone number, whereas eToro allows you to open an account using your email address, Facebook, or Google. You will receive a confirmation code, which you will need to enter to complete the registration process. Your account will be ready to use as soon as this is completed. The functionality of accounts that have not validated their identity, on the other hand, is severely restricted.
Users who have not completed the top tier levels of KYC on either platform will have limited access to the site’s functionality on the other. EToro goes even farther by restricting access to some features to only those users who have made their first deposit into their account. On eToro, a $200 minimum deposit is required to open an account.
Byard pays referral fees in the form of commission. On Bityard, a user can earn up to 60% of commissions on trading fees if they promote others to the platform.
Experience is being exchanged.
As previously said, Bityard’s goal is to make trading more convenient. The phrase “Complex contracts, simple trading” appears on the company’s website’s first page. The trading experience on Bityard is frictionless, which is in line with the company’s slogan. There are 33 crypto assets with 19 trading pairings, as well as several derivatives ranging from stock market indices to precious metals. There are also many different types of cryptocurrency. Even though Etoro only provides 16 crypto assets, it has hundreds of stocks, ETFs, indexes, and currency pairs to choose from.
Funding a Bityard account is possible with both bitcoin and fiat currencies. To protect the privacy of our users, we are only accepting fiat deposits in select regions at this time (Vietnam, Indonesia, and China). There are plans to expand the service to include more countries in the future. eToro, on the other hand, exclusively allows funding through the use of a credit or debit card.
Demo accounts are available at Bityard and eToro, and these accounts allow customers to practice making actual trades with fictitious money. Users of both platforms can also take advantage of the CopyTrade feature, which allows them to mimic the positions of more experienced users on the platform.
Byard charges a cheaper maker/taker fee, charging only 0.05 percent of the transaction value instead of 0.01 percent. On Bityard, there is a charge of 2 USDT for each withdrawal. Trading costs on Etoro vary depending on the asset; they range from 0.75 percent to 5 percent. The smallest deposit that can be made is $200, and the smallest trade that can be executed is $25. The spreads on Etoro are used to charge trading fees, and these might grow and fall in response to market conditions. Withdrawal fees on eToro are $5 per transaction.
Both platforms have implemented initiatives to improve the security features available on their respective systems. 2FA is used to authenticate every new login. Withdrawals are protected by PIN authentication on both platforms. Beard maintains its crypto assets in cold storage, which keeps them safe from hackers and other intruders. The Byard websites are additionally protected by complete SSL encryption, which ensures that all connections are secure.
Beard and eToro have been compared and contrasted in this post on several different levels. By comparison, eToro has a larger user base and a more diverse assortment of non-crypto assets than Bityard, although the latter is smaller in size. Beard, on the other hand, offers a greater selection of crypto assets to trade. While the ease of registration on both platforms is roughly similar, Bityard is significantly easier to register on because new users can access the full capabilities of the platform without first paying a minimum deposit on the other site. Moreover, the layout and user interface on Bityard have been demonstrated to have more superior features, resulting in a more enjoyable trading experience. The greater referral benefits and welcome bonus on Bityard also make it a more appealing platform to use. Bityard’s trading fees are also far lower than those charged by eToro. When it comes to security, both platforms have proven a strong commitment to better security, which is remarkable.