Yobit - Crypto-exchange | Experience and imho

[Koza20]

Hi everybody!
In this post I want to share my trading experience on this exchange. I'll tell you why it's not possible to trade on it, but using it sometimes you can increase your capital. I hope this information will be useful to you. P.S. Sorry for my English.

General information

Site: https://yobit.net/
Created: 2015-2016
2FA: available
API: available

Disadvantages

1. Very low speed of the site
2. Low trading volumes. Usually everything is centered around 5-10 coins, which are now in a trend.
3. Slow technical support
4. No support by tradingview. Uncomfortable graphics.

All this makes it impossible to trade regular on this exchange (If you treat trading seriously). BUT then I'll tell you why I still use this exchange from time to time

Advantages

1. There is no need verification by some documentations for deposit and withdrawal. !!!
2. This exchange is often used for organized PUMPs. Administration does not fight with it like bittrex for example. (if you like it  )
3. The coin rate is 5-20% higher than on other exchanges. (not always sure) !!!
4. low commission (0.2%)
4. Support each fork. Quickly and honestly. !!! (I just have a bit of bitcoin there and quite often I get some shitcoins)

Conclusion and application

This exchange is definitely not the best option for permanent trading. But it can be useful to you in the following cases:
1. Trading an extremely small amount (if you are a beginner for example)
2. If you do not want to be verified (for many reasons)
3. If you are interested in trading on the difference between the rates of different exchanges
4. If you want to get coins for hardforks fast and guaranteed !!!
5. If you organize pumps or you want to participate in them

Now I use this exchange only to get coins for the hardforks that interest me. And I get not a bad profit on this. For example: the previous ETZ fork I received only on yobit, and selling at a good price earned a profit of 25%. And if the coin is not scam, then on this exchange, in my experience, it will appear much earlier than on others. In other words, if I want to participate in an hardfork, then I transfer coins to this exchange to get them exactly.

[1714813240]

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[BrewMaster]

Yobit is one of the shadiest exchanges that i have ever seen but strangely enough they have not scammed anyone until today. their service sucks and you may get your deposit/withdrawals stuck for weeks but at least there has been no scams like big exchanges such as Bittrex pulled!!!

they also have one of the worst APIs that i have aver seen. it is just horrible. it is slow, and it sometimes returns weird information for example when i cancel an order or place one it gives me my balance too! which is a waste of data and slows things down, specially if your list is long.

i also use Yobit for the same reasons! to get or dump the coins i got from forks. and as long as i am only dealing with bitcoin in my deposit and withdrawals i am fine!

[tomalours]

I've had to use Yobit to trade a token available only on this plateform, well I didn't keep it for long and now avoiding this plateform.

[milewilda]

1. Very low speed of the site
Accessing the site back in the past isnt really low after all. I dont know on the current situation if they are slowed down yet i have turned my back to this exchange.
2. Low trading volumes. Usually everything is centered around 5-10 coins, which are now in a trend.
Expect on sudden pumps caused by bots and once you entered you will really have a hard time to get out and high chance on losing money.
3. Slow technical support
This is where they are famous about into their support,it would take ages for them to reply or wont really reply you forever.
4. No support by tradingview. Uncomfortable graphics.
You cant really use tools which means you will stick on making calculations or estimations with your own eyes. lol

[bamboylee]

I'll stay away from yobit as much as possible. It is good until you experience some problems. If your coin got stuck or something, there is no one to help you. Support take ages before it gets resolve.

And the UI is so crowded that it slows down the site. It is hard to use if you are using mobile.

[jhenfelipe]

Another disadvantage you missed to mention is, most wallets are in maintenance status. Worst is sometimes they don't ever become online again. It would be fine to use yobit if you will never need to contact support, but issues do exist and it would be really hard if ever.

[Koza20]

Yes, I totally agree with all of you guys. This exchange is not created for the terminal trading.  You can not apply technical analysis on this exchange. LOL. But I wanted to pay attention to the fact that this exchange can perfectly suit for some special purposes. Everyone can solve their problems. I use this exchange because I am sure that I will always receive coins for the hardforks. For example, I plan to keep my ETC there when callisto event will be done.(05 March 2018)

[Koza20]

Another disadvantage you missed to mention is, most wallets are in maintenance status. Worst is sometimes they don't ever become online again. It would be fine to use yobit if you will never need to contact support, but issues do exist and it would be really hard if ever.

I agree. But rightly note that I've seen similar problems on bitrex and other popular exchanges. Could not generate a coin addres, or waited for a response from support for weeks...

[Koza20]

Yobit is one of the shadiest exchanges that i have ever seen but strangely enough they have not scammed anyone until today. their service sucks and you may get your deposit/withdrawals stuck for weeks but at least there has been no scams like big exchanges such as Bittrex pulled!!!

they also have one of the worst APIs that i have aver seen. it is just horrible. it is slow, and it sometimes returns weird information for example when i cancel an order or place one it gives me my balance too! which is a waste of data and slows things down, specially if your list is long.

i also use Yobit for the same reasons! to get or dump the coins i got from forks. and as long as i am only dealing with bitcoin in my deposit and withdrawals i am fine!

At the Yobit exchange, I still had a bit of bitcoin after the ETZ story. It was very funny when after a week or two I went to the exchange and saw that I got BCA, SMART and BTV coins. I did not even hear about these coins. Just accumulated on my account Some shitcoins...  Yobit add every coin that is found on the network. I'm glad that some of this can sometimes be sold at a good price. Finished first of all interesting are popular forks carrying a meaning.

[buwaytress]

Can't believe I'm actually talking about Yobit of all exchanges twice in a day, but I've got to say, if you're objective, then you'll come up with precisely the points you have. For me, I don't see Yobit as a serious trading platform at all, but for the sake of some curious experimentation with some extremely exotic coins in the past, I actually deposited some alts there a long time ago and sold them for a not-so-small amount of BTC which I left there on their "invest" option.

I never bothered to claim any of my fork coins on BTC but Yobit credit me perhaps more than 10 forks (including self-made airdrop coins from Bitcoin) and I sold all of them as soon as markets were available. This alone probably netted me 30% of Bitcoin already owned? If not more.

Yobit is one of the shadiest exchanges that i have ever seen but strangely enough they have not scammed anyone until today. their service sucks and you may get your deposit/withdrawals stuck for weeks but at least there has been no scams like big exchanges such as Bittrex pulled!!!

they also have one of the worst APIs that i have aver seen. it is just horrible. it is slow, and it sometimes returns weird information for example when i cancel an order or place one it gives me my balance too! which is a waste of data and slows things down, specially if your list is long.

i also use Yobit for the same reasons! to get or dump the coins i got from forks. and as long as i am only dealing with bitcoin in my deposit and withdrawals i am fine!

That's what I feel too. I've had all my withdrawals honoured. I've actually used their support once for a smart contract token; they stumbled but they actually did respond and resolve.

Looks like I'm not the only one using Yobit for forks. Perhaps there is a place for everyone here. And shady? Yeah, sure. But I have equal distrust in all the exchanges.

[aardvark15]

I have tried to buy and sell on Yobit and I find that the trading platform is not very user friendly. It seems difficult to set up the trades and they don’t really have a lot of options for coins to trade.

This exchange may work for others, but I prefer several other exchanges myself. Currently Binance seems to be the best one for me because of the easy to use trading platform and options light stop loss orders.

[Reid]

Site: https://yobit.net/
Created: 2015-2016
2FA: available
API: available

And I thought you killed Yobit already from this.  
2015 - 2016 RIP  

You shouldve just killed it for it will not help the bitcoin community and also the altcoin section.
This is one hell of an exchange which takes a lot of profit from those who will withdraw. Their transaction fees are soaring and it is full of shitcoins in their midst.
They should really improve this website and be wise on adding coins. Cleaning up the list could also be a good idea.

[MiningSensei]

Are there still people using YoShit?

It is even worst than ShitBTC
I do not understand why there are a lot of people still trying to say that they are "good enough" compared to other exchanges.. My gosh..

[setifien19]

Now I use this exchange only to get coins for the hardforks that interest me. And I get not a bad profit on this. For example: the previous ETZ fork I received only on yobit, and selling at a good price earned a profit of 25%

I think it's the unique positive thing that still runs on yobit which is not a suitable exchange platform anymore .
Yobit also does integrate any found shitcoin on the web , the thing that has led to many beginners losing their capitals

[Koza20]

Now I use this exchange only to get coins for the hardforks that interest me. And I get not a bad profit on this. For example: the previous ETZ fork I received only on yobit, and selling at a good price earned a profit of 25%

I think it's the unique positive thing that still runs on yobit which is not a suitable exchange platform anymore .
Yobit also does integrate any found shitcoin on the web , the thing that has led to many beginners losing their capitals

I really could not think about it. You're right. Beginners could be deceived... Trollbox there on yobit...(about their online chat) But we face deception all the time. If you come up with a head, then you will not buy some Yob2x coin for example.

But I agree. All this has a bad effect on the crypto industry

[Koza20]

And I thought you killed Yobit already from this.  
2015 - 2016 RIP  

    I meant the year of foundation 2015 or 2016 lol.
Developers bury themselves. Burying themselves with a large number of shitcoins...

[Koza20]

Now I started to participate in bounty companies. And understood That on this exchange very quickly appear many tokens. I decided that I will supplement the article from time to time. Soon I want to write what bounty hunters can get for Yobit.  Be that useful pr(and) dangerous.

[martychubbs]

Yobit its a one big Ponzi scheme , i strongly dont recommend use it , because 99% of tokens there is futures not tokens , u cannot cash out it , just trade on it , ethereum is ok there , xvg is dead there not real , waves too and a lot of tokens . Also they have invest box there where they pay u 10% daily of u investment of fake coins , how is it ok for u ? For me its ponzi and a lot of my friends lost big money there. Please be carefully of this shit and safe u money.

[lite]

I would recommend not to use yobit, this exchange could run away any time.

Are there still people using YoShit?

It is even worst than ShitBTC
I do not understand why there are a lot of people still trying to say that they are "good enough" compared to other exchanges.. My gosh..

It maybe be because those 2 exchanges list worthless ICO tokens as soon their funding is completed? hitbtc has like total of 479 altcoins/tokens.

[Kate Beckett]

As for me, Yobit is convenient, but dangerous exchange. I happened that the money did not reach the account. And once they disappeared altogether. In general, you work on it only at own risk. In addition, the site is incredibly slow, because of what you miss important transactions. And that is strange enough, there are not some top-end crypto-currency, for example Ripple.