See everything about Yobit, is it good? and learn how to trade on Yobit, all the truth you need to know:
What is youbit and how does it work?
Good, yobit is a cryptocurrency exchange launched in 2015, based in Russia and became a success as there are many coins available in the market that fail to reach the big or best exchanges due to its approval process.
Before I conclude the review, let me tell you that there are two exchanges with the name YoBit and both of them look exactly the same. However, the website URL for both of them is different as mentioned below:
1. Yobit.net
2. Yobit.io
In this article, I will review the Yobit.net because it is much older and has more traffic than Yobit.io. Furthermore, there is not much information available about the owner or the location of the company, which is quite surprising…
Yobit Features:
The site's home page has several tabs that include:
*. “Trade”,
*. “Market”,
*. “InvestBox”,
*. “Wallets”,
*. “ ICO”,
*..“CoinsInfo”,
*. “AddToken”,
*. “Support” e “PM”.
Below are some interesting features that we can’t see on any other exchange around:
Ico: → We all know that airdrops are gaining momentum these days here you can get free Yobit coins! This usually happens when a new coin is added to the exchange or if someone donates.
Games → Yobit also has an inbuilt gambling feature that allows you to bet on the platform and try your luck with the cryptocurrencies you hold you will either win or lose the same amount you bet.
InvestBox → this page allows all coin creators to list and promote their free coins easily, beware some scammer use this feature to add scam coins,
How to use Yobit?
Step 1: Create an account
Just access the yobit official website access the section signup and fill in your registration details and confirm your account.
Step 2: Fund your account
Once you create an account on Yobit, you will be given a free address that you must unlock in order to start trading. There are two main ways to fund your account:
*. Transfer real money from any of the accepted payment methods;
*. Transfer Bitcoins or other tradable virtual currency from one cryptocurrency wallet
If you want to fund an account using real money, with the following payment processors:
*. payeer;
*. AdvCash, perfect money
Alternatively, compre Bitcoins on an exchange that accepts fiat payments like Coinbase and transfer them to Yobit.
How to trade on yobit?
With funds in your yobit wallet, access the “trade” trading platform and purchase any of the more than 650 cryptocurrencies listed on yobit at a slightly higher 0.2% rate than on other exchanges.
How to withdraw coins on yobit?
Access your Yobit wallet and initiate a withdrawal process. Provide your personal Bitcoin wallet and complete the transaction. If you want to make a real cash withdrawal, use any of the payment methods listed above.
Is yobit safe or reliable?
Since the end of 2017, Yobit has not had a good reputation. There are numerous forums with threads about the lack of transparency. Most users are dissatisfied with customer service. There are more complaints than positive comments. In 2017, Russian authorities started an investigation into this exchange, but we still do not have complete information. Therefore, if you want to use yobit with great care We do not recommend leaving your cryptocurrencies stored on this exchange, always use the secure virtual wallets.
Conclusion
Without a doubt yobit It is one of the exchanges that lists the most altcoins or new ICOs and airdrops, some quite interesting, therefore it is a platform whose legitimacy is in question, be careful when trading using YoBit, as it involves risks that are not only limited to altcoins listed on the exchange but also the platform itself.
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