Bityard is the world leading cryptocurrency derivatives exchange, fully regulated and compliant with international laws, with the main activity in cryptocurrency contracts with leverage and derivatives exchange. It has licenses from four different countries: The USA, Australia, Singapore, and Estonia.
I started using Bityard in December 2020, after the Publish0x writing competition which I won with my Street Fighter themed “Bityard is beating the competition” article. Since than I explored the platform and made good use of the tools and trade options. I like that Bityard is user friendly, easy to use and very fast.
The three trading options on Bityard are spot trading, and contract trading for derivatives or cryptocurrencies. I used the Crypto Contract Trading and even tried a bit of Derivatives Contracts for Gold and Silver. The contract trading is the method of trading that aims to gain profit from market volatility, forecast if the price of an asset will go up or down. The traders are not buying or selling the asset, and are not owing the asset. The contract only speculates the price.
Only speculates the price.
My Contract Trading started after a Twitter competition where users were invited to create a video and share their Bityard experience for a $50 USDT prize. I wanted to share my experience and tell others about the fast trading engine and the mobile friendly dashboard. I joined the challenge and created a video to show how mobile friendly is Bityard.
I was one of the winners and I decided to use the $50 prize on Contract Trading. I started in Demo Mode as I was an absolute beginner, just to learn how to use the Contract Trading. I started with the King of Crypto and forecasted that the Bitcoin price will go up. I set the leverage at 40x, using the 10,000 USDT from the Demo Wallet. The 0.05% fee was added to the order, raising the contract value to 10,400 USDT.
The Demo trading was educative and I made profit on the contracts I opened. I closed all manually and with the built up confidence I moved to trading with real money. I went with the trend and opened “Long” contracts for Bitcoin and Ethereum, than patiently waited for the price to go up.
My strategy was to manually close the contracts for set percentages of gain and open new contracts to back up the remaining ones. This strategy secured the current profit, leaving place for added reward if the bull run continued.
The price of Bitcoin and Ethereum kept growing and only few contracts later I already recorded a 20% raise of my portfolio. I was up to $60.45 from the $50 I had in my wallet. This is not financial advice, only my personal experience!
When Ethereum and Bitcoin value stabilized, I moved to Bitcoin Cash (BCH) and opened “Long” Contracts. The reason behind the choice is that when Bitcoin value will surge, all the crypto ecosystem will move in synergy and record gains.
As the trading went on, more profit was added in the pot. A mix of good strategy and basic crypto knowledge doubled my portfolio in few days.
The safest and most rewarding contract was Bitcoin (BTC) and Ethereum (ETH) Long, as the value grew for days. After a week I was already multiplied the initial amount by four, reaching $200 USDT.
I chose to explore new tokens for Contract Trading and the profit kept adding in the wallet. I followed the news in the crypto ecosystem for news or triggers announcing a value surge. Every time a project was getting positive reviews in social media, or when an upgrade was announced, I used the information to open contracts. The information was widely available to everyone, but is important to separate FOMO (Fear of Missing Out) from the innovations or RoadMap achievements. Then Andre Cronje announced the Curve expansion which will secure a big slice of the DeFi ecosystem, I opened Long contracts for Curve Finance (CRV) and waited for the value to go up. Time and knowledge is power!
Opposite to cryptocurrencies, the precious metals such as Gold and Silver where losing value. I started with small contracts shorting Gold and Silver, and added new ones while manually closing the ones that already generated a high percentage of profit.
As the Gold price kept the downwards movement I constantly added small contracts while closing the previous ones. This strategy raised the value of my wallet over 300 USDT.
Over the next days, the Gold depreciation continued. It was time for a correction in the crypto market and I choose the high earners to drop some of the value earned during the week. My top choice was Curve (CRV) and DASH. Nearly a month after I discovered the Bityard contract trading, my portfolio reached new records. This is not financial advice ! Do your own research!
After the value of my portfolio went over $500 I decided to slow down and only play with the obvious contracts. When Bitcoin started to surge I opened long contracts, but only for small amounts. How many times can a trader or a crypto investor share a successful 10x profit story? I am proud I’ve done it and I am thankful to Bityard for the opportunity! I received the prize from the video competition on the 5th of February and less than two months later I have $515.36 in my wallet.