Introduction
Operation Chokepoint is making it harder for Americans to access fiat onramps to crypto. BYDFI offers a solution to this problem, along with the challenge of many exchanges going crypto-to-crypto only.
BYDFI and its Offerings
BYDFI is a centralized exchange that allows Americans to buy top 20 coins like $ATOM. It offers spot purchases and futures at a good price, and does not require KYC.
The Fiat OnRamp Options
BYDFI uses third-party services like Banxa and Transak to legally convert USD to crypto. These services provide more deposit options, including Google Pay, Apple Pay, Wire Transfer, and Cash App.
BYDFI Services & Coins
BYDFI offers various services like spot buys, futures, copy trading, and lite contracts for beginners. It also supports popular coins such as MATIC and ATOM.
The KYC Question
BYDFI allows users to choose whether or not to KYC. However, KYC is required with Banxa or Transak to move funds into BYDFI.
Conclusion
BYDFI combines the best of both crypto-to-crypto and fiat-to-crypto exchanges, providing more options for Americans. It also offers welcome bonuses, low fees, and free trading signals. However, please note that this information is not financial advice and cryptocurrencies are high-risk investments.
Hot Take: BYDFI’s solution to the lack of fiat onramps for Americans is a significant advantage, and its support for popular coins and no KYC option make it a promising exchange for crypto enthusiasts.
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