I love being anonymous and not being tracked for using a crypto exchanges is BYDFi reliable and legit ?

1. What BYDFi promises: features, limits and privacy balance

BYDFi markets itself as a full-service exchange: spot, perpetuals, copy trading, trading bots, MoonX Web3 routing, and a large token list — over hundreds to 1,000+ coins depending on the write-up — with leverage up to 200x on liquid contracts ^{[8] [4] [9]}. The platform advertises optional KYC: basic sign-up requires email/phone and 2FA, non‑KYC users can reportedly withdraw up to 50,000 USDT/day while full KYC raises limits to larger sums (reports cite 500,000 USDT daily subject to review) ^[3]. That “no‑KYC for small flows” model appeals to privacy-minded traders but does not equal anonymity; reviews note BYDFi still encourages KYC and offers bonuses for completing it ^{[3] [4]}.

2. Security record and transparency: professional reviews vs. caveats

Several professional reviewers describe BYDFi as implementing standard industry security (cold wallets, 2FA, proof-of-reserves claims) and report no publicly recorded breaches in their testing windows, calling security “moderate” to “good” while urging improvements in independent audits and transparency ^{[1] [10] [11]}. BYDFi and reviewers claim measures like proof-of-reserves reports and an insurance/protection fund (examples cited include an 800 BTC protection fund in one report), but independent, audited confirmations of those reserves are described as limited compared with the largest regulated exchanges ^{[11] [10] [12]}.

3. Regulation and legitimacy: licenses cited, and what that implies

Multiple articles state BYDFi has sought regulatory registrations — including Money Services Business (MSB) filings in the U.S. and Canada and company registration in Singapore — which reviewers cite as bolstering legitimacy ^{[2] [13]}. Company claims and third‑party reviews repeat these assertions; however, reporting also signals variance in tone: some outlets treat the documentation as a meaningful compliance step, while other reviewers still rate the exchange as less transparent than top incumbents and call for more independent audits ^{[2] [1]}.

4. User experience and complaints: praise and red flags

Professional tests highlight fast execution, competitive fees and feature-rich trading UIs, recommending BYDFi particularly for derivatives and copy‑trading users ^{[1] [4] [11]}. At the same time, public review platforms show notable customer complaints — slow dispute resolution, withdrawal frictions, and occasional allegations of scams — producing mixed user-satisfaction scores (Trustpilot, Sitejabber entries with low-to-mixed ratings) ^{[5] [6] [7]}. These consumer reports don’t in themselves prove systemic fraud, but they are repeated enough that they should factor into any trust calculation ^{[5] [6]}.

5. For privacy-minded traders: realistic anonymity vs. practical limits

If your priority is avoiding tracking, BYDFi’s optional KYC and phone/email for basic access make it more private than fully regulated fiat-onramps; still, the platform requires identity verification for larger withdrawals and advertises KYC for higher limits and certain features — meaning complete anonymity is not supported for significant activity ^{[3] [4]}. Reviews explicitly state BYDFi strikes “a middle ground” between regulatory compliance and trading flexibility, not a promise of full anonymity ^[3].

6. How to weigh the evidence and next steps

Professional reviews largely present BYDFi as a legitimate, feature-rich exchange with moderation-needed transparency and some operational complaints ^{[1] [4] [11]}. Independent user complaints exist and must be considered ^{[5] [6] [7]}. If you care about anonymity: expect limits on large withdrawals and potential account review if you scale up trading; if you prioritize safety: seek independent proof-of-reserves audits and test small deposits/withdrawals first while keeping KYC documentation ready if you need higher limits ^{[3] [11] [10]}.

Limitations: available sources do not mention a regulator-issued warning against BYDFi or a major confirmed hacking compromise beyond user allegations; they also do not provide full independent audit reports equivalent to the largest exchanges’ audits (not found in current reporting) ^{[1] [5]}. Use both professional reviews and real-user threads before committing significant funds ^{[1] [6]}.