Yobit.net Review 2020: Cryptocurrency Exchange Is on the Rise

Updated on May 14, 2020 at 5:11 pm UTC by Christopher Hamman · 6 min read
Yobit.net Review 2020: Cryptocurrency Exchange Is on the Rise
Photo: YoBit

Yobit cryptocurrency exchange is one of those exchanges that have been around for a while and will be around for long. It offers one of the simplest and most secure platforms in the crypto space.

Yobit cryptocurrency exchange has been one of the world’s premier cryptocurrency exchanges. Though many people seem to have a contrary view, the global cryptocurrency exchange industry would not have reached these heights without forebears like Yobit.

Incorporated in 2014 in Panama, Yobit has been at the forefront of the exchange of digital assets. It is known for its simplicity in the design of its interface. Yobit has become the preferred cryptocurrency exchange that many users love for its features.

Its exchange to and from fiat money is one such feature. The ease with which money can be exchanged is to enable the users to focus on the business of cryptocurrency trading.

Yobit Cryptocurrency Exchange Offers Anonymous Trading

Yobit also offers anonymous trading. Most cryptocurrency exchanges trample on their users’ rights to privacy to pass KYC or similar verification procedures. Yobit as a cryptocurrency trading exchange doesn’t do this. The exchange realizes that many users love their privacy. This feature enables the users to get that.

Security on cryptocurrency changes is critical. So much so that in the last few years many exchanges have been hacked. Yobit has a clean record. The cryptocurrency exchange has never been hacked. This track record has made it to become one of the most popular cryptocurrency exchanges.

When it comes to registration, only basic information for the exchange is required. Data sets required for information have only the login, e-mail, and password as fields. Once this is done, e-mail confirmation then occurs. After that, the setting up of the 2-factor authentication is the next thing to do. Two-factor authentication protects the digital assets that are in a user’s account.

After that, trading can resume on what is known to be one of the most stable cryptocurrency trading platforms in the world. 

There are about nine cryptocurrency and currencies that are accepted as deposits on the platform. Once a deposit is made, then trading of the pairs can then begin. YoBit supports both crypto and fiat for depositing and withdrawal. Users can transfer fiat money using VISA/Mastercard, Payeer, AdvCash and Perfect Money.

Yobit has a minimalist interface. This is to allow the trader to trade without too many bells and whistles. It does not mean however that the trading platform doesn’t come with a powerful engine. 

Yobit’s trading platform allows for the immediate execution of trade orders. The engine hasn’t been known to slow down even at times of huge volatility in prices which are event-driven. 

Once a currency pair is selected, the candlestick charts load up and the user can then decide to make a trade.

Yobit charges a minimal 0.2% currently per trade. The commission is added to the lot size. The trade can now continue depending on the allotted position and the funds available in the account. 

The features of Yobit cryptocurrency exchange are uniquely designed. They enable the user to have a great customer experience. Yobit’s features include investbox, coinsinfo, trade, markets, wallet, history, support, and even PMs. Instead of trading, YoBit provides crypto-games YoPony and Dice where users can try their luck and win Bitcoins. The exchange also holds a reward campaign in collaboration with the CryptoTalk forum: users could receive payments in BTC for posting messages on this website.

Trade orders on Yobit are simplified and simple buy/sell orders can be executed on the platform. This allows for immediate trading to ensue. 

One great thing about Yobit is that the cryptocurrency exchange has many trading pairs. Many of these pairs aren’t found in most cryptocurrency exchanges. The reason for this is that many altcoins aren’t popular. Yobit has taken this into account and created such pairs.

Altcoins Are Also Featured

No one can tell. Today’s forgotten altcoin could become the leader of the crypto-space tomorrow. It is this ideology that has allowed for Yobit to keep the vast number of cryptocurrency pairs on its platform.

Yobit feature about 8,566 cryptocurrency pairs. These pairs have covered the spectrum of the crypto-space. They also allow the trader to make trades on many exotic cryptocurrency tokens.

Several aspects of market movements may occur within certain cryptocurrencies. Yobit has ensured that those kinds of price movements within smaller but profitable markets are covered. 

YoBit Support and Community

The Yobit community is also something else. The community of traders always work together to see how everyone on the platform can make progress. With its 80,000 strong Telegram English channel and 60,000 Russian language channel, there is always something to gain. Besides, traders could use Telegram community to get support and contact administrators directly in private messages. Commonly, support responds very quickly and responsibly, all difficulties are resolved in a matter of minutes.

YoBit Reviews: Scam or Not?

The reviews don’t lie. Yobit is one of the cryptocurrency exchanges that have stood the test of time. Trust pilot reviews indicate that the cryptocurrency exchange has many achievements. According to one of the biggest and most reliable exchanges list CryptoWisser YoBit has a 4.53/5 rating. The security level of the exchange was rated at a maximum “A” grade.

Yobit has had a daily average trading volume of about $50 million. This kind of constant liquidity indicates that the cryptocurrency trading experience is great. It can only get better.

Yobit’s Special Features Unveil Great Opportunities

The special features on the Yobit platform extend the activities of general trading. Users get to have an unforgettable experience. 

Yobit’s investbox allows investors to put their spare assets in investment programs on the exchange. Rates may vary but they usually range between 0.1% to 10%. Customers’ assets are protected by Yobit. The duration of such investments also varies. 

Some rules are designed to protect users. For example, there is a maximum return of about 5% on investments in investbox. This is in place to protect users’ investments. 

The coins info section provides information on the various coins that can be traded. There is an “add token” button that allows anyone to list new coins on the exchange. Such listings are subject to the terms and conditions of the platform’s administration. Those that don’t cut are removed.

The wallet section of the Yobit contains all the cryptocurrency wallets that users can use as the base currency. Deposits that are initiated from other cryptocurrency wallets arrive in the wallets automatically. They aren’t subject to any interruptions from the Yobit administrators. 

In the wallet section, there is the option to hide wallets with zero balances. This is to allow the trader to focus on the active wallets and make quick decisions. 

Withdrawal requests allow the trader to make them easily and seamlessly. According to the Yobit rules on withdrawal, traders withdrawals are automatically processed. The commissions for withdrawals are also automatically deducted. The trader is also responsible for the input of the correct address for withdrawal.

Yobit seems to be on balanced footing when it comes to the future of cryptocurrency trading. They could also create a new paradigm. One where anything is possible.

To sum it up, let’s see what benefits Yobit can offer to its users:

  • Simple interface
  • Secure trading engine
  • Anonymous trading
  • Automated deposits and withdrawals
  • Investment options
  • Many cryptocurrency pairs
  • Minimum charges

Yobit has everything that every cryptocurrency trader needs!

Altcoin News, Bitcoin News, Cryptocurrency news, News
Christopher Hamman
Author: Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

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