Yobit
- Overview
- Security
- User Experience
Volume 24H: 117BTC/24h
Yobit is a cryptocurrency exchange that offers numerous crypto trading pairs, mostly suited to experienced traders and developers.The platform includes multiple features, offering users the possibility of submitting new ICO tokens or coins. Because of this, one needs to pay attention when making a transaction as there may be a lot of new ICOs with low potential.
The Yobit platform is best suited to developers who want to promote their ICOs or who have had previous experience with cryptocurrencies. The interface has an old design and can be sluggish from time to time. Crypto deposits are free but the withdrawal fee is 0.0005 units for any coin. They also have an affiliate program and reward their users with 20% for every trade made by the referral.
Crypto Currencies Support
Traditional Currency Support
- RUB
- USD
Language Support
- Chinese
- English
- Russian
Country Support
- Australia
- Canada
- China
- European Union
- Hong Kong
- Japan
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Norway
- Russian Federation
- Singapore
- Switzerland
- Turkey
- United Kingdom of Great Britain and Northern Ireland
- United States of America
Platforms Systems
- — Web Interface
Stock Market Options
Yobit claims to focus on transaction protection and on user security. Several inspections are implemented in order to reduce the risks of third parties gaining access to a user's account. By accessing their accounts, users have the ability to freeze withdrawals in case of any suspicions of hacking.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | Exchange Platform |
| Storage Type | Hot |
At the begining of 2017, Yobit was the subject of an investigation made by the Russian telecommunications regulator Roskomnadzor. There is no information regarding the result of the investigation or if the investigation was completed. Beyond that, there is no information regarding the founder or the company behind Yobit.
Summary:
In conclusion, any type of user can make good deals on Yobit. The main focus should be to verify if the coin one is about to trade is not a scam. We don't recommend keeping large amounts of funds within Yobit wallets, since the platform has been under investigation by Russian authorities and there is little to no information regarding its ownership and whereabouts.
| Ease of use | Intuitive |
| Transaction Fees | 0.1-0.29% |
| Deposit/Withdrawal Fee | It's Free (fees May Be Hidden) |
| Deposit/Withdrawal Fee For Bank Transfer | N/A |
| Deposit/Withdrawal Fee For Credit Card | N/A |
| Deposit/Withdrawal Fee Charged For 3rd party Payments | 1.1+ |
| Anonymous Trading | Yes |
Deposit/Withdrawal Options:
Deposit using 3rd party, Withdrawal funds through a third party, Send/Receive Crypto
Functionality:
Yobit offers multiple features. With the help of Free coins, anyone can claim, donate, or create coins on the platform. Any automation is strictly prohibited and results in the account being blocked. Another function Yobit offers is the invest box, a tool for developers that helps them to promote their coins.
Most common customer complaint:
— Some users complained of signin-in/new registration issues and problems with Ethereum withdrawals