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The world of cryptocurrency is evolving every day as more people are exploring digital assets for many different reasons like investment opportunities. Luckily, trading has become easier with platforms like BYDFi that offers numerous features and tools, increasing the interest of both new and experienced traders.
BYDFi – BUIDL Your Dream Finance – is a trading platform that is designed to make cryptocurrency trading accessible for new traders but also comes with tools and features experienced traders benefit from. The app offers a user-friendly experience which makes the trading process easier and more enjoyable.
What sets BYDFi apart from other trading platforms is that it provides a wide range of trading tools that takes cryptocurrency trading to the next level. Users have access to over 800 cryptocurrencies and the latest trending memecoins. So whether you’re looking to invest in bitcoin or you’re simply curious about how to trade memecoins onchain, they’ve got you covered.
In this guide, we’ll walk you through a step-by-step process on how to set up your first trade on the BYDFi app – a secure and fast way to begin your digital assets journey.
Step 1: Download the BYDFi App and Create an Account
To begin trading on the BYDFi app, the first thing you need to do is download the app and create an account. Head over to the Google Play Store (for Android users) or the App Store (for iOS) users) and download the application.
When it is done downloading, press the “sign up” button and input the necessary information required to create an account. Ensure you read the terms and conditions thoroughly, then verify your email address to complete your registration.
Step 2: Set Up 2FA (Two-Factor Authentication)
Once you have created an account, log in and set up 2FA for added security. You can do this by navigating to the security settings and enabling the feature. Activating this feature will ensure double protection of your information.
Step 3: Deposit Funds and Obtain Crypto Assets
The next step is to deposit funds into your BYDFi account as you cannot trade without it. Connect your debit or credit card to your account, choose the specific amount you want to purchase, then wait for the transaction to be completed. You can check the third-party payment option on the app for the payment options available in your region.
BYDFi supports over 800 cryptocurrencies so you will definitely find what you are looking for. You can also transfer crypto assets from other exchanges or wallets to your BYDFi account. Simply choose the token you want to deposit, copy the wallet address, and send the funds.
Step 4: Explore the Markets
After your transaction is confirmed, you can begin exploring the different trading options. You can do this by clicking on the “markets” tab and filter your search results by volume, toke type, and popularity. BYDFi supports trading bots, spot trading, futures trading, leveraged tokens, with copy trading feature.
Step 5: Place Your First Trade
To do this, choose your preferred asset and select “Futures/Spot.” You will be directed to the trading interface where you can buy or sell your orders, simply enter the amount you want to buy or sell and confirm the price. Due to the availability of top-notch tools and resources, you can analyze the market before placing your trade.
Step 6: Monitor Your Trade
BYDFi allows you to monitor your trades and adjust your strategy if needed which is essential to trading. The platform provides real-time updates for every of your token, all you need to do is click on the “assets” tab to keep track of your asset performance. You can also set reminders for price changes and market updates to stay on top of your trades.
Additional Information to Consider
- It is advisable to place your first trade using a small amount and then continue to increase it as you get used to the application’s trading process.
- Take advantage of the educational resources offered by BYDFi like the copy trading feature which allows you to follow more professional crypto traders.
- Make use of the many tools provided by BYDFi to enjoy your trading experience to the fullest.
Final Thoughts
Setting up your first trade on BYDFi is an easy process, even for new traders. All you need to do is follow the steps above and get to trading. With its many exciting features and intuitive interface, BYDFi stands out as a top-notch trading platform for both beginners and experienced traders.
