What BYDFi (formerly Bityard) is
BYDFi is a centralised exchange launched in 2020 under the name Bityard and renamed in January 2023; the new name echoes the slogan "Build Your Dream Finance". It offers spot trading, copy trading and perpetual contracts, and the website states leverage of up to 500 times on bitcoin futures: with leverage like that, a minimal price movement is enough to lose the entire margin. The company claims more than one million users in over 190 countries, a figure that cannot be independently verified. The company behind it has also changed: in January 2025 BTC-Echo named a Seychelles company, while the 2026 terms of use name a US company. (Verified: October 2026)
Regulation and licences
(Verified: October 2026)
- MiCA: NO — BYDFi does not appear in the ESMA register of authorised crypto-asset service providers (updated on 22 October 2026). Since 1 July 2026, with the transitional regimes over, an unauthorised operator may not offer these services to EU residents.
- United States: according to the terms of use of 9 January 2026, the platform is operated by Multinex Inc., registered as a Money Services Business with FinCEN (no. 31000323612735). This is an anti-money-laundering registration, not an authorisation: FinCEN warns that registration is neither a recommendation nor a certification of legitimacy.
- Warnings: on 10 February 2025 the Ontario Securities Commission flagged BYDFi (bydfi.com) as not registered in Ontario and, on the same day, a "BitYard aka Bityard" website on a domain other than bityard.com, without linking it to BYDFi. On 16 May 2022 CONSOB had published among its investor warnings ("Avvisi ai risparmiatori") the warning from Spain's CNMV about Bityard Blockchain Foundation Ltd (bityard.com), listed among operators lacking the required authorisations.
- Neither bityard.com nor bydfi.com is among the websites blocked by CONSOB.
Security
There are no cyberattacks on the platform on record involving the theft of customer funds (Verified: October 2026). The limitations of an operator without authorisation in the EU remain: MiCA protections on segregation of funds, supervision and complaint handling do not apply. A specific risk concerns the old name: bityard.com is no longer active and the OSC has flagged a "Bityard" website on another domain, so pages that use that brand today should be treated with suspicion.
Headquarters and contacts
- Declared operator: Multinex Inc., a company incorporated in the United States according to the terms of use of 9 January 2026 (Verified: October 2026).
- Previous information: in January 2025 BTC-Echo reported BYDFi Fintech Ltd, 306 Victoria House, Victoria, Mahé (Seychelles).
- Official website: no link. BYDFi is not authorised in the EU and is the subject of a warning from the Ontario authority.
Alternatives
For anyone looking for an exchange that is operating and authorised in the EU:
FAQ
Are Bityard and BYDFi the same platform? Yes: Bityard, launched in 2020, changed its name to BYDFi in January 2023. The bityard.com domain no longer leads to any website (Verified: October 2026).
Is BYDFi authorised in the EU? No. It does not appear in the ESMA register of MiCA-authorised providers: authorisation has been mandatory in the EU since 30 December 2024, and since 1 July 2026 the transitional regimes have also ended (Verified: October 2026).
Verified sources
- https://www.esma.europa.eu/sites/default/files/2024-12/CASPS.csv
- https://www.osc.ca/en/investors/warnings/bydfi
- https://www.osc.ca/en/investors/warnings/bityard-aka-bityard
- https://www.consob.it/web/area-pubblica/-/comunicazione-del-2022-05-16
- https://www.consob.it/web/area-pubblica/oscuramenti
- https://msb.fincen.gov/
- https://www.btc-echo.de/reviews/erfahrungen/bydfi/
