Yobit.net exchange - legitimate or not ?

[mintymark]

I am at my wits end and dont know what to do next. After some thought I have decided to open a new ticket since you do not seem to reply to my older tickets. This ticket is different in that
a) I shall post this in the PIVX forums and Bitcoin talk along with any replies you make
b) It aims to be a full statement of the problem.

The Problem:

Yobit is a small exchange that I have used for years and has always seemed reliable and honest. Recently I have come to challenge that view because the PIVX wallet is in maintenance mode and has been for 3 Months or so. I have currency that I want to remove from the exchange but its not happening.  The wallet is in maintence mode. If you fill in a request for withdrawal which you can do in any case, this message appears on screen:

  Withdrawal for such currency is temporary off.

Well that would be ok, except that its 3 months its been like that.

So I placed a support ticket and politely asked when withdrawals would be reinstated, this was the response, within half an hour:

Deposit\Withdrawal coin will be available after you upgrade the source code of the wallet. Unfortunately the developers are in no hurry to send you updates
- therefore, in order to avoid the loss of users, the network is not available.
If you have updated the source code of the coin, send us (https://yobit.net/en/maintenance_request/ Free)and we will promptly correct the problem on the coin.
Thank you for contacted the support.

So I went to the URL and submitted a free request. The top of the page states:

coin (SourceCode Update/Hardfork/Swap) with High Priority you can fill out the form below.
Payment method: YobiCode
Maintenance type:
• Free (8-14 business days) - 0 btc
• Premium (5-7 business days) - 0.2 btc
• Exclusive (2-4 business days) - 0.5 btc


So I requested a free request on 2017-11-27 expecting that this would be serviced within 18 days which is about now. I have commented a few times but never had another reply.

So is Yobit legit? that seems to be the key question now. The RIGHT way to stop trading a currency is to suspend trading, then give a reasonable time for withdrawals and then take it off the site. None of this has happened. Please Yobit, restore my faith and others in your good name and do the right thing!

Please upgrade the wallet so that me and others can withdraw the funds that belong to us. That is the only honest and decent thing to do.

(New Ticket on Yobit 10 Minutes ago.)

[DaMut]

legitimate ? nobody know about that.
because they're only good an exchanges no more no less than that.
no matter what exchanges that you mention they will do something stupid in the process and they can not guarantee your money at all.
even if they're regulated under law in their country.
it will never change the fact that they're only gooad as an exchange.
but if we're talking about the worst one,i think it should be yobit.
even though many exchanges doing a stupid thing in the back,most of them did not did it openly like yobit did to their costumers.
that is why many people recommend other people to not doing any trade in there.
basically if they had a problem with yobit,none of them can solve it.
because they're not responding to our problem and simply ignore it

[adaseb]

I used to use them years ago and I never had issues.

They started having issues with the massive bitcoin demand that happened in the last year or two. Basically the problem that they have is they have low support staff if issues arrive, which is basically what every other site is having.

Another bad problem about Yobit is that they have many coins which wallets are in maintaince and people have stuck deposits/withdraws.

[tosmartak]

Out of that exchange for good. This is one exchange you should run away from. All Yobit is ever after is cash and they care less what happens to your funds while using some crappy delay tactics. I understand a lot of people are still cool with it for now, until they get the crazy experience of their life. They are not really bothered about the users and I am so done with that.

[Genrix]

Few days ago a had problems with cash out due to password changing. They locked up wallet for 3 days, but afterwards prolong it to 5 days. That's not so good, cause I was ready to verify myself, but they don't have such option
As a result, I withdraw my money, but such delays do really matter

[liuqi]

Out of that exchange for good. This is one exchange you should run away from. All Yobit is ever after is cash and they care less what happens to your funds while using some crappy delay tactics. I understand a lot of people are still cool with it for now, until they get the crazy experience of their life. They are not really bothered about the users and I am so done with that.

Yobit is stands on the top ten altcoin exchanges still. There are many complaints about the yobit scams in the forum itself by many users. If we check the traders they still comfortable to have their trading experience on yobit site.
Other than that they will have the dice roll and other small earning options and all as the inbuilt option of the site itself. For bestvreafkng experience you please create the account on bitrex or polenix exchanges.

[Mahanton]

If you do ask me then i would say it would be on 50% legit and 50% scam since this exchange do really sucks on their service. Bad support system and do have lots of issues the thing on here is that you can able to buy up cheap coins but usually inside on this exchange are those shit coins that being mostly dump this is why buying on this site would really be too risky.They do always become shady after all these years.

[mobnepal]

I am only using yobit occasionally to exchange bitcoin to perfectmoney as they have instant withdrawals for PM but I have also experienced some delay before like of 12 hour maximum to get my funds.

Regarding new coin listing and wallet updates, they can list any coin if they will get paid and they might not consider to add any coin for free also they will not update wallet of any coin without any additional fee.

They just want to suck as much money as they can because they are not registered anywhere so not liable of any rules and nobody can fill legal case against them.  

[joinfree]

If you do ask me then i would say it would be on 50% legit and 50% scam since this exchange do really sucks on their service. Bad support system and do have lots of issues

Maybe you are talking about YoShit, not Yobit, lmao.

They are trash, no one can put money in there because they are never replying to support tickets, probably they are the same crap as bittrex only that they often reply to the tickets.

I suggest to everybody to stay away from this exchange, they are always putting crappy coins and scammy projects on their exchange because this is probably the only money source that they have, with the Dice, of course.

[Mahanton]

If you do ask me then i would say it would be on 50% legit and 50% scam since this exchange do really sucks on their service. Bad support system and do have lots of issues

Maybe you are talking about YoShit, not Yobit, lmao.

They are trash, no one can put money in there because they are never replying to support tickets, probably they are the same crap as bittrex only that they often reply to the tickets.

I suggest to everybody to stay away from this exchange, they are always putting crappy coins and scammy projects on their exchange because this is probably the only money source that they have, with the Dice, of course.

Yoshit exchange would be much more better to hear of. Speaking on their dice it isnt really fair at all even you do set x2 multiplier and trying to roll it all you would still see losing streaks which can be seldom seen into other gambling site with the same odds which would really able us to see the difference and as a gambler we can really feel if those bets are rigged or not.This is why i dont really trust them on the very first place.

[piloder]

Yobit still have high trading volume and many traders are trading there for really long time but when you will get some trouble than you might have to wait for months to get it resolved also many of the wallets remain off always and it is full of shitcoins with zero volume. They never delist coin that has no any development going and zero trading volume.

I will not trust yobit with my bitcoin.

[ccris0637]

Yobit is quite good exchange it's just really messy due to bunch of shitcoins traded there just be careful you are trading the right coin because some coins there have similar name but different coins I experienced depositing a coin to wrong address that has same name there before and it's lost.

[dothebeats]

They used to be one of the best exchanges when it comes to ICOs and newly released coins, but with the issues they are encountering and the numerous users reporting frozen withdrawals and disabled accounts, I don't think I'd trust Yobit for a huge trade of mine. It still is a decent exchange to say the least, but the mere fact that they're having problems while others are not (bittrex not included) is a strong reminder to not store huge amounts in online exchanges as long as possible.

[serjent05]

I had been using yobit exchange for the past 1 year and I have never had an issue with them.  So far they performance shows that they are legitimate but we never knew what will happen on the following years.  Just look back at MT GOX, cryptsy they used to be one of the largest exchange but they turned out to be what they are known today.  It would be best to be careful and do not put all your stuff in one exchange.  It is better to be aware of the possible thing that may happen than sorry.

[Dart18]

Used it before but when I experienced long time withdrawals and stuck trades I stopped using this website.
They are legit as far as I know but it is like everything is being run by a Robot.
Just like you said, there is no one answering, I mean a true human being that would answer queries.
They have been spammed by a lot of customers with many problems and here I see it again.
I dont think it will be resolved by just a thread like this.

Also the fees they have, Damn! they are too high than other exchanges and for what? It could be worth the pay if it is fast, but it is not.

[bitbunnny]

Some time ago I was Yobit user but I quit. The customer support was very poor and I had some problems with withdrawal and deposits so I quit. Recently Yobit was accused for scam or scam attempt by many users and I don't know what exactly is going on.
The truth is that some service might be legit or look like legite but the level of their service is so bad that users are not satisfied and they are experiencing multiple problems. I think exactly that happened to Yobit.

[Oilacris]

They used to be one of the best exchanges when it comes to ICOs and newly released coins, but with the issues they are encountering and the numerous users reporting frozen withdrawals and disabled accounts, I don't think I'd trust Yobit for a huge trade of mine. It still is a decent exchange to say the least, but the mere fact that they're having problems while others are not (bittrex not included) is a strong reminder to not store huge amounts in online exchanges as long as possible.

This is true which i did already observe that yobit is really active on listing new coins but regarding on delisting they dont really care at all unlike any other exchange this is why its been flooded by shit coins and if you are a newbie you would really end up on buying these trash. Just like been always been reminded for how many times dont ever risk to put up money on exchange wallet for long periods of time.If you dont like issues and headaches later on then better to follow this.

[fanbeila]

I have not heard before Yobit to be a legitimate exchange.Its already world famous for listing scam coins.They don't bother about any newly released coin's legitimacy.All scam coins could be found listed there.But now only hearing the complaint that amount could not be withdrawn.

i think nowadays issues arising with more exchanges.Bittrex was considered to be a legit exchange and nowadays,it is accused for banning thousands of accounts without prior intimation and not even replying to support tickets.

[Slimdaddy]

I have not heard before Yobit to be a legitimate exchange.Its already world famous for listing scam coins.They don't bother about any newly released coin's legitimacy.All scam coins could be found listed there.But now only hearing the complaint that amount could not be withdrawn.

i think nowadays issues arising with more exchanges.Bittrex was considered to be a legit exchange and nowadays,it is accused for banning thousands of accounts without prior intimation and not even replying to support tickets.

Generally, The idea of keeping money in the exchange is a dangerous endeavor.

[thulisman]

Yobit.net is a good trading site. Daily trading volume on this floor is average but the number of coins traded on yobit.net is very high. You can find many new altcoin on yobit.net. But on yobit.net has not integrated tools to help analyze the candlestick charts, hopefully in the near future it will fix this.