How to Buy
5 steps to buy on BYDFi
Open BYDFi account for free
Sign up for BYDFi with your email/mobile number and create a strong password to protect your account
Keep your account safe
Enable Google Authentication (2FA), set anti-phishing code, and trading password to add an extra layer of protection to your account.
Verify account
Enter your personal information and upload a photo of your valid ID cardVerify your personal identity
Add payment method
Once your BYDFi account is verified, add credit/debit card or bank account
Buy
There are various payment methods available to purchase BTCB on BYDFi. We'll guide you through it
Choose how to purchase BTCB on BYDFi
Buying coins on BYDFi is easy and convenient. Explore different ways to buy
- 1
Buy with credit/debit card
This is the easiest way for new users to buy (BTCB). Connect your credit/debit card to your account, enter the amount, and wait for the transaction to complete
- 2
Buy through third-party channels
BYDFi supports a variety of leading third-party payment services. Visit ourThird-party payment pageCheck out the payment methods available in your area
- 3
Buy on BYDFi's Spot market
BYDFi's Spot market offers 700+ Coin pairs, making it the most popular buying platform. Buying methods are as follows:1. Buy stablecoins through BYDFi, third-party Coin buying channels. Additionally, you can transfer crypto assets from other wallets or exchanges to the BYDFi platform. Please make sure to choose the correct blockchain network, once you deposit your funds to the wrong address it cannot be reversed.2. Transfer your crypto to BYDFi account. Find the trading pair you want to trade on BYDFi's spot market. Place an order to exchange your currency to
Note: BYDFi offers a variety of order types to buy in the spot market, such as market orders to buy immediately and limit orders to buy at a specific price. For more information about BYDFi order types, click here3. After a successful trade, you can view the available in your account
How to store ?
The best way to store will vary depending on your needs and preferences. Check out the pros and cons to find the best way to store
Store BTCB in your BYDFi account
Storing assets on BYDFi will give you quick access to trading products such as spot and contract trading, savings, lending, and more. BYDFi acts as the custodian of your crypto assets, saving you the hassle of keeping your private keys. Make sure to set strong passwords and upgrade your security settings to prevent malicious actions from accessing your assets
Deposit your BTCB to the wallet
「No key, can't withdraw」If security is your biggest concern, you can withdraw to a decentralized wallet, so you can easily manage your key. You can use any type of wallet, including smart wallets, Web3 wallets or paper wallets. Note that this option may not be convenient if you want to frequently trade or use your assets. Be sure to store your private key in a secure location as loss of the key could result in the permanent loss of .
How you can use with BYDFi
Hold
Store in your BYDFi account.
Trade
Trade in spot and futures markets.
Why is BYDFi the best platform to buy ?
Safe and reliable
Millions of global crypto users trust us. Our multi-tier & multi-cluster system architecture and insurance fund protect your account.
High liquidity
BYDFi has highly liquid buy and sell orders for all listed cryptocurrencies, providing a liquid trading experience with tight spreads
Gem cryptocurrency platform
Supporting over 500 cryptocurrencies, BYDFi is the best platform to find your next Gem. You can buy BTCB on BYDFi and use it to exchange other crypto assets.
Friendly interface
Thanks to its simple interface and superior technology, buying on BYDFi is quick and convenient. Buy Coin on BYDFi to receive BTCB
Trade
Answers
What Is Bitcoin BEP2 (BTCB)?
Bitcoin BEP2 (BTCB) is a token on the Binance Chain. Each BTCB is 100% backed by a BTC reserve, with the price pegged to Bitcoin at a rate of 1 BTCB = 1 BTC. The reserve address for verification is publicly available to anyone at any time.
The Binance cryptocurrency exchange has published the reserve address to demonstrate the transparency of the Bitcoin BEP2 project, as well as to pique the interest of third parties who can freely check the contents of the Bitcoin pool and compare the data with the number of BTCB tokens issued. The project forms part of Binances endeavor to provide affordable trading opportunities for users of its decentralized exchange (DEX) – one of the main services supported by Binance Chain.
Since its launch on April 18, 2019, Binance Chain has been able to achieve good results regarding decentralization and interoperability in a quite short time. Binance Chain Evolution Proposal 2 (BEP2) was launched in June 2019, outlining a set of technical features, rules and management criteria that tokens must meet in order to function properly in the Binance Chain ecosystem.
Who Are the Founders of Bitcoin BEP2?
Changpeng Zhao (aka CZ in the crypto community) is the founder and CEO of Binance, which grew to become the worlds largest crypto exchange by daily traded volume within just 180 days. He is a graduate of McGill University in Montreal with a degree in computer science. As a coder who gained experience building high frequency trading systems, he has been concentrating on blockchain technology since 2013 and has completely immersed himself in the world of cryptocurrencies.
CZ is also CEO at BijieTech, which he founded in 2015. Prior to BijieTech, Zhao was the co-founder and CTO of OKCoin, around the same time he launched his own futures platform. He has also worked at Blockchain.info as the head of the technology department. In 2017, he officially launched Binance.
What Makes Bitcoin BEP2 (BTCB) Unique?
As Bitcoin is not strong when it comes to DeFi, developers are constantly looking for workarounds and struggle with obstacles that include high fees and a cumbersome process for creating smart contracts. Bitcoin BEP2 is a Bitcoin clone issued on Binance Chain. Its price is always as close as possible to the price of the underlying asset – Bitcoin – and each BTCB is backed by an actual BTC.
The pegged BTCB tokens are therefore 100% backed by their own reserve coin, Bitcoin. The advantages of using BTCB include:
- Since the release of BTCB, traders on Binance DEX have had the opportunity to trade BTC, even if the BTC is hosted on a completely different blockchain. BTCB therefore provides Binance DEX traders with access to even more trading pairs, resulting in increased trading volumes.
- As the range of available assets has grown, so has liquidity, which is an advantage for users of the exchange.
- Binance has sealed a strong reputation over the years and has earned the trust of its users, so many users are willing to store their BTC on the platform in order to access BTCB.
- On Binance Chain, anyone can check the BTC reserves at any convenient time, which attests to the projects high degree of transparency.
- Exchange representatives claim that while this approach is more centralized than atomic swaps, it is easier to understand and master for most traders.
- If developers wish to transfer their assets to Binance Chain, the platform actively promotes this and streamlines the process.
