Bitcoin Forum

Yobit is an old exchange with several bad reviews from users, a little search here in the forum or through google will give you the exact picture.
They are surviving because they know how to play their game perhaps, but that does not take away the fact they are shady and mostly favor artificially pumping coins and wrecking naive investors.
If your intention is to use it, I would say look for other exchanges that are far better, however, the choice is yours. There is a reason why most crypto investors don't use it.

This is the exchange which have many shit coins and tokens whenever a coin or token get hype and touch ATH so it always make a fake coin or token with the same name.

And it introduces many new things or project to grab money. Many tokens it introduced which has now zero value.

You are talking the native token of its own. So it is only listed on yobit.

And one more thing is that their website is not mobile friendly.

They've made a lot of their own native tokens and they'll just repeat it when they're done with it. Those tremendous APY that they're giving, look at how much it got with its order book.

Most likely, you'll see nothing to its buying order and those that have been selling it like waiting for it to be taken care of. But the thing is, no one wants to take care of it.

Not an exchange that you might like because of the tokens they offer that will once go high and then be dumped without recovering a cent. They are one of the oldest exchanges though. They use to be very popular even in 2015 because of the campaign they are doing here in the forum but are now disliked because of the shitcoins they create.

One thing that you might like is that they don't force KYC. I still see many users in their exchange chat and if you wanted to know about them, I guess you can chat the users there.

As others in this thread have already mentioned. YoBit is an exchange that is around for a long time now, which is usually a good thing but at the same time YoBit always had the reputation to be shady or even scammy. They had some weird launchpad sales in the past that did not so well if i remember correctly too. So personally i would not really use YoBit as my primary exchange or use it to keep my funds stored there. Also the token of YoBit really seems to have a pretty high value at the first glance but if you look a little closer then you see that the total supply of it is only 17000, which is extremely low and the trading volume is also very small.

Be careful using yobit, there is a discussion in the local forum where theoretically users' transactions to a popular local wallet were rejected due to the coin's origin being from yobit exchange. Probably sanctioned because it's a Russian exchange. It could be this bad when your coins can't go through because of the wallets being tagged.

The funny thing about Yobit Exchange is upon all the accusations against them and they still function to this day, I don't know how they keep this up.

You are lucky for bringing this up on the forum before using the exchange, it would have end up in a very sorry case. Stay away from Yobit Exchange, it's one of the oldest grand daddy of scam exchanges.

Old members are very familiar with Yobit they are a notorious scammer here in fact if you check the scam accusations they are number one on topics created about them, you've done the right thing asking the community about a platform I hope this information that we provided are enough for you and all the readers of this thread to avoid Yobit.

https://i.imgur.com/9DBnz4q.png

There are a lot of scam accusations against them...

In my personal experience, I don't like the fact that they have listed coins with blocked deposits and withdrawals. This happens with clam coin, users only can buy or sell the coins but they can't depo or withdrawal, which means they have a parallel market with different prices for the real markets.

Sources:
https://yobit.net/en/trade/CLAM/BTC - Price: 0.00001700

https://coinmarketcap.com/currencies/clams/ - Price: 0.00000391

I've used their exchange many times.

My opinion is that if you're gonna exchange small amounts of any listed coin in their exchange and then withdraw fast, it has been okay till now. They are not scammers who steal your things shamelessly (kind of makes them better than FTX, LoL).

But people are right to call them shady. Everything else they're famous of, like their IEOs in the old times, their pump and dump mini (or maybe micro) projects, their farming project, etc, etc has mostly made people lose money. I've heard of occasions in which someone made money there, but people losing money has been a much more frequent outcome.  :)

Be safe.

YoBit is a exchange which we sell our token which are list there but many people use this exchange but there reviews are that it is a scam exchange and they make alot of collection of coin which are fake coins so its not good exchange and then people can't use this exchange and in the market the exchange position is very bad its not a trustful exchange.

Didn't they sell a lot of non-existent tokens to exchange users before? I read those tokens only exist in Yobit and there were no blockchains to verify any information. They probably had other shady activities that gave them more opportunities to collect funds.

Yeah, almost all of the dumping coins are available on this exchanger. I am not sure but sometime it feels like the exchanger was itself invented to list the shitcoins and make business out of it. However, the exchanger is now in shadows, there is not much buzz about it anywhere. The advertisements and signature campaigns everything gone down the sink.

There was period when this exchanger hosted very long signature campaign and even with the negative reviews they kept it on to prove that they are working just fine and all.

The problem was they used to quickly stop the payments, show reasons as not to verify the users and loot them in the name of kyc and shit. The volume was also manipulated many many times. Without any doubt one should not be using it.

I wouldn't use YoBit. There are so many accusations against this exchange and many of them are certainly true. There are enough other exchanges that can be used and that are more reliable. A thread about Yobit was opened again recently, which shows how badly this exchange works:  Yobit not paying out YoFarm Rewards (https://bitcointalk.org/index.php?topic=5422598.msg61332267#msg61332267)  >:(

I tend to agree with most replies above, we have a lot of threads here against them, a scam accusation, and their shitty activities.
A house of scams and shitcoins that shouldn't trust.

A little bit off-topic but it's related to Yobit.
I've joined a group in my local that used my local wallet (Coins.ph) they said, their account now has been banned and restricted to transact funds because they are receiving crypto that comes from the Yobit exchange.  So it's possible that their wallet has been a red flag from other custodial exchanges?

They've never been hacked but are full of shit.

They're very well-known here for being an untrustworthy exchange.

YoBit doesn't require KYC and that's why many people still use it despite their negative reputation. They also list a lot of really obscure coins that aren't on other exchanges. I think in most cases using a decentralized exchange seems like a much better option. A DEX might not have native BTC trading pairs but getting WBTC, ETH or BNB is still a lot better than trusting a scam exchange.

I know that some people and traders are still using this old and questionable exchange but they still manage to take the risk and receive their money (deposits and withdrawals). I don't know how they survive and keep running their business despite the negative feedback they get from the community. But I see it is all about our discretion. Since we have some idea about YoBit and the high risk of using this, then it's up to us if we use their services or not.
Only one thing I can say to never let stay your coins for long in this exchange...and even to other exchanges.

I didn't see anyone mention Yobit in a while... From time to time I get some email from them, always with some crazy APY investment, I should definitely unsubscribe!

As others have said, Yobit is a bit shady! They are still in the business, we can wonder how and why, but if you care about your money this exchange should be avoided. For people who like to take risks with "crazy high" APY's and many pump & dump schemes, this is the right place.

Never under any circumstances should you put your money in this exchange. It's not even an exchange, but some kind of combine, which wants to look like an exchange, but it looks more like some kind of casino. There is nothing for a trader to do there, the list of coins available for trading is full of different scams, which are traded only on this exchange, for example, the project FAST DOLLARS. If you want to trade, then choose KuCoin or Huobi, these exchanges are a thousand times more reliable than Yobit.

P.S. This is just my opinion.

They are like the junk yard of cryptocurrencies.  They have terrible almost non existent customer support so good luck if you ever have an issue.  While yes they have lasted pretty long they are still shady and have tons of bad reviews and rep from people who have used them.  I'd steer clear if I were you but that's just me.

There are so many bad reviews about this site and even if they have such an attractive promotions I wont bite because I know its too risky and probably I might lose everything. They are still running for some reason, there are too much hype and manipulation on this exchange don’t fall for that. If you want a smooth exchange experience then better to go for the best option instead of this site.

as far as I know Yobit exchange used to be given a bad reputation after scamming a few people.
if you really want to get in there, my advice is that you better read more about Yobit in threads that have existed in this forum before you really become the next victim.

Well, although we know that the Yobit exchange is an old big exchange, I will not recommend this exchange to be used. They had many bad issues related to their services, token listings, scam accusation, and also some problems related to the transaction process.

Btw, I thin Laos that Yobit Exchange also has high transaction fees compared to other ordinary exchanges. This may be one of the reasons why I am not using this. I thin that it is better to use other changes that have better reputation and reviews. It is to ensure that our assets are safe and not have bad issues again during the investment. ABout high APY, well, I thin that it is no need to risk our money there even it is high APY because it si also too risky to trust.

We wouldn't even know if they were hacked. It's the least transparent exchange out there, if you use it, just hope that you don't ever need to use their support. Because if and when you encounter question or a problem, you can rest assure that there's no help coming. I only lost money once in there by depositing a token that never arrived to my account. I sometimes have used it as they don't require kyc at all but i wouldn't deposit anything too big as you most definitely can lose it.

One of the old exchange. I've used it in the past when there were not much of exchanges available for trading. During those days majority of the coins rewarded for bounties gets listed on yobit. Later this slowly lost its trust and it's been a long using the exchange. I'm not sure how good is the exchange at present.

The only reason that a lot of people got bad reviews about Yobit Exchange is because of a lot of shitcoins that are listed on this exchange because even the Yobit Management is tolerating these shitcoins.
Another thing that I'm thinking is they are also sometimes doing pumps and dumps on their own exchange to earn more money.
Very bad exchange for me, the more shitcoins listed on an exchange, the more red flags.

IMO, I suggest you check for other exchanges. I still have an account with them, but not active. The few times I interacted with my account, they had coin(s) deposited in my wallet - which i guess are airdrop coins. But there was a particular one I wanted to withdraw but they keep saying the wallet is under maintenance. Secondly, I participated in promotion campaign which they promised to reward participants at a given date. However, after performing the tasks, I waited for my reward on the said date, but it never came. My little experience with them portrays that of distrust. They are old quite right, that does not mean all is well. You have to be careful if you insist in dealing with them, otherwise there are other better exchanges you can trade with.

Yobit exchange does not have customer support. A least it is what you will get if they contact their customer support. Your request will go to the air and no reply back to you after all.

Yobit run many spam campaigns in forum and their account even was banned, their signature was disable in forum by the admin (6 months).

Months later they came back with Cryptotalk signature which was a spam campaign too before it was handled by yahoo.

Yobit spam on the forum (https://bitcointalk.org/index.php?topic=5133809.0)
Yobit /Cryptotalk signature campaign (https://bitcointalk.org/index.php?topic=5188047.0)

If they did not care about quality of participants and only spent money for spammers. You should guess where did their money come from. Easy have, easy spend without consideration.

I think yobit was once a good exchange. They are the competitor of poloniex, bitrex and other old exchanges which lost it's fame now. Maybe yobit have only undergone an issue and fail to resolve it and they think it's too late for them to change so they just accept shitcoins in their platform to continue earning.

Yobit do also have their own token. This could be the one that they are using for pump and dump other than helping random tokens that are listed on their exchange. This way, they can solo the profits that they will be getting. For us, we know that there are so many legit coins out there and as well as legit crypto exchanges. We can invest on them and use them at peace. No need to go for shitcoins and shady exchanges.

I once used Yobit in 2018 and at that time there was no problem, unfortunately since the end of 2018 there were too many negative news and reports about Yobit including the difficulty of the withdrawal process so that it made me leave and never trade in Yobit again.

Well, I guess OP you already have some insights about this known YoBit exchange. You certainly are hearing bad, of course, because that is what they experience and the feedback from others. With their negative reputation in the forum, you can't really be thinking that this site can be trusted, of course not. Now, it's up to you then if you will try or not but people have warned you already.

There is no need for you OP to take risks on this site, in fact, there are a lot of reputable exchanges available in the market.

Yobit is a scam exchange, avoid it. Actually you can search yobit accusation on this forum, you will get many accusations shown on the google. Although there's currently no accusation against Yobit, maybe no one ever use this exchange again since there's no interesting promotion to attract new people. Yobit campaign was success since they're massively promoting in this forum by spamming the whole forum.

It is not scam, it has its own "strange" vision of how to do business. If it was a complete scam, it would not run airdrops or better say competitions (even though the amount obtained there is laughable), and people wont trade there at all. So far it operates, a lot of people in Russia make YoBit as their prime or only way to turn crypto into fiat.

But I would not recommend YoBit as an exchange to trade huge amounts. In case something goes wrong, users has an issue or any other unexpected things happens - you wont get any help from support. User can write as many support tickets as they want, but it is quicker to get a jackpot in lottery, then get an answer from YoBit support.

Of course the old members of this forum know a lot about yobit, the ancient exchange that many users use without the need for KYC and a place for shitcoins in the past. I often trade a lot of shitcoins or some of the coins listed on Yobit. But when the many scam and other accusations yobit started to quiet down and it did become the biggest shitcoin place. Yobit even held a signature campaign and paid participants every week.

This is what I know about Yobit: its a shitcoin dump site with all sorts of worthless coins and tokens making debuts there. Also, its a regular pump and dump center. I remember how they used to host many pump and dump schemes. I was caught in one of them though. Next, its a very old exchange, probably as old as Mt Gox. So be advised

It's a long time since I heard about Yobit for the last time on this forum. Yobit is a russian exchange from the early years of bitcoin existence. Although they have many bad reviews for different reasons, the service seems to be still active with people using the platform. But since they aren't a transparent and fair exchange, it's better to avoid their services, because you can be cheated by them as customer at some point.

I remember they had a non-provably fair dice game and investment option with high interest rates for your crypto (the trick was that the investment didn't pay everyday as firstly expected, only when they wished...).

Yobit exchange have been popular as hype exchange because ever participated in Liza coin investment with daily day return profit above 2%, but there are not excited profit return because Yobit exchange not stable reward and have rule change every time. Actually many negative respond or feedback with Yobit exchange until right now have claimed as scam exchange.

I earn much profit there when new coins listing and up drastically, but I loss more again there when investing with Liza coin before stopping with investment return and price have been drop.

Yobit is an exchange that has been around for a long time. I also used it, but there was so much negative news from that exchange, so I decided to stop using it. It's been a while since I stopped using it, and so many people think that it's to be a scam. I did not know that until now the exchange still exists but, I would prefer to recommend for use of a more professional exchange like Binance or Kucoin.

YoBit is very old exchange listing, if i'm not wrong it was launched in 2015-2016. When mostly new coins got listed here, it was user friendly exchange because there are no KYC to trade/withdraw here. But right now it’s a one of the shit exchange in the market, they listing all of SCAM coins, a lot of SCAM/fraud allegation with this exchange.

They used to run a signature campaign here, It's an old exchange site. They used to be good until they start scamming people and having an issue paying their signature campaign members. Today, They are one of the shittiest exchange in the market, They apparently didn't make any evolution in their exchange site. Their UI never changed and they are full of shitcoin now. I believe that most of the newbies doesn't even know yobit is and will never try it given that there are much more better exchange out there that are far superior than yobit.

Please don't use this exchange.  There are countless amount of people who have gotten locked out of the exchange, they provide little to no customer service.  You literally could end up losing everything you send there without even trading a single thing lol.  Use one of the reputable exchanges there is no reason to use them.  If they happen to be the only exchange that has a market for the coin you own well then its probably not going to go anywhere anyway.

In the past I've used this exchange for my trading needs. Most of the tokens gets listed in this exchange. To trade those tokens Yobit and Livecoin served to be the better choice. Slowly it had been marked with several problems and Livecoin stopped its service. It is the only exchange that have inbuilt Dice game. I've used Yobit in the past for playing Dice.

All of us used this before even for a few times only because they are one of the top exchange in the past and their reputation that time is still clean and free from negative feedbacks. It's only sad that they turned bad in the long run. What once a good exchange that only list good coins are now listing shitcoins only and scam coins.

Oh well, I think they don't want to waste their domain but they still find ways only to earn something even a not-so-good way. Other than the former yobit who are now called as yoshit, livecoin was also another famous exchange back in time but I got a bad experience with it. My coins where stuck on the exchange and the support didn't attended my concern. What a pity.