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ajeef
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May 20, 2018, 08:41:08 PM |
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Some of them have no idea that others exchanges exist, some of them only find specific coin they want to buy on this exchange, some of them are paid to buy ther so they can create volume and so on...
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Bitcoin addresses contain a checksum, so it is very unlikely that mistyping an address will cause you to lose money.
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CryptOliver
Member
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Activity: 83
Merit: 11
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May 20, 2018, 08:52:42 PM |
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The first exchange that i knew was yobit, maybe it makes me familiar with that exchange. I knew that yobit has low quality because oftenly yobit enlisted shitcoin (deadcoin). I think yobit is the most easy exchanger to be accessed because the feature not to much as like bittrex etc. But people flavour are different guy, let's scream out to attract them on better exchange.
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hamade
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May 20, 2018, 09:07:59 PM |
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a lot of people use them , becuase they can not use another exchange like bittrex that need KYC verfication and bittrex ban some countries from use it
and also some coins exist in Yobit and Not exist in good exchange
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poplolnman
Legendary
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Activity: 1442
Merit: 1008
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May 20, 2018, 09:37:26 PM |
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It's not related about the quality of exchanges (good or bad) because some new coin are listed in Yobit only that's why people use it .
Yeah you are risking your money on a well known crap exchange service , that's okay if you use Small amount of money only , the money that you can afford to lose , it's more to gambling for me. I personally never trade there since got a withdrawal problem that takes to several months , crazy isn't it? Ther are the worst. Won't recommend it at all. |
I'm in 400,000 euros debt , dont help me , i rather die
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enawati
Full Member
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Activity: 574
Merit: 102
https://adonx.one
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May 21, 2018, 02:48:14 AM |
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Before decide to put money in exchange, first i have to make research and review about quality, reputation and security of that exchange. And yobit is does not have good reputation because many their member make complain about their service. Can be some trader use it because the coin only tradeable in that exchange, and some trader use it only to trade pump dump coin.
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Leonard2016
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May 21, 2018, 07:00:44 AM |
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Well you can find some of the altcoins and tokens only on yobit(most of them are shitcoins) also if you have joined to some bounty or airdrop that it gives you some coins or tokens that you can find them only on yobit where else would you go to change them?!
Yeah it is not as good as binance but binance doesn't have many of altcoins or tokens , some of them are good like byteball that you can find it on bittrex or Upbit but still not on binance!
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BLAST2MARS
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May 21, 2018, 07:07:30 AM |
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I still find it reliable even though I don't use it anymore. It was good back in the days and used by pump and dumpers to push the shitcoins there up but now taxations and regulations existed, the people behind those groups must have been discouraged by that.
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iram1011
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May 21, 2018, 07:59:39 AM |
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What's the reason for using a low-quality exchange like yobit? There are so many other exchanges that allow for no verification (like binance) that I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.
Could someone explain?
YoBit isn't particularly classified as a bad exchange. I don't know what makes you think that it is bad. Is it the UI? Is it the slow transfer time? YoBit experiences such high volumes so obviously there is something good about it and hence a lot of people stick to it. A lot of people find UI of trading websites confusing and usually prefer to stick to one. I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.
Not every coin is listed on every exchange out there. For instance, if someone wants to trade Byteball, that person wouldn't be able to trade it through Binance, and Bittrex is the only reputed exchange where it is listed. Hence, people would move to Bittrex. In the same way, there are so many coins which are only listed on YoBit and not elsewhere, and hence people have no choice but to use YoBit. |
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moshk555
Member
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Activity: 224
Merit: 10
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May 21, 2018, 08:15:03 AM |
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They use them because of some reason
1. Because of Low Fees
2. These types of exchange support most of the crap hard forks and people like to get free coins that is why they invest in these exchanges.
3. These types of exchange add all the new coins which are not easily be added on other good exchanges so for trading new coins people join these exchanges.
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1Referee
Legendary
Offline
Activity: 2170
Merit: 1427
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May 21, 2018, 09:02:52 AM |
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YoBit isn't particularly classified as a bad exchange. I don't know what makes you think that it is bad. Is it the UI? Is it the slow transfer time? YoBit experiences such high volumes so obviously there is something good about it and hence a lot of people stick to it. A lot of people find UI of trading websites confusing and usually prefer to stick to one.
- Shady behavior (quite often doesn't show you the estimated withdrawal fee, where you only find out when you actually withdraw funds). - Non responsive support (worse than most other exchanges). - Too often wallet maintenance. - Shady extra gimmick features with little to no proper explanation. There is nothing good about it, they just attract noobs because of the crap (crap that other exchanges don't want to list) they keep listing. Not every coin is listed on every exchange out there. For instance, if someone wants to trade Byteball, that person wouldn't be able to trade it through Binance, and Bittrex is the only reputed exchange where it is listed.
Hence, people would move to Bittrex. In the same way, there are so many coins which are only listed on YoBit and not elsewhere, and hence people have no choice but to use YoBit.
Exactly. It is however a different story when you ask yourself whether or not it's worth diving into Yobit (with all its negative aspects) just for that one coin. Is it really worth the potential risk and headache? I personally find not, but looking at how noobs flow into that exchange, they do find it worth, but I very much doubt that they understand the risks. If there was an understanding of risk, we wouldn't be flooded with Yobit complaints. |
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george888055
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May 21, 2018, 09:48:41 AM |
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There are many coins available in the market which can not make their way to big exchanges because of their hard approval process and cost of listing.
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KesoNie
Copper Member
Sr. Member
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Activity: 672
Merit: 270
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May 21, 2018, 11:38:27 AM |
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Some of them have no idea that others exchanges exist, some of them only find specific coin they want to buy on this exchange, some of them are paid to buy ther so they can create volume and so on...
Yes exactly, some of them didn't know exactly the brief description of the exchanges that they used so they made also a mistake to used bad exchanges. Well some of them would like to try this kind of Exchanges because they are looking for a good Exchanges that so happen they get a bad one which they couldn't get a good profit. So we should conduct a massive Research for that Exchange that were going to used. |
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ss890
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May 21, 2018, 11:45:06 AM |
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What's the reason for using a low-quality exchange like yobit? There are so many other exchanges that allow for no verification (like binance) that I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.
Could someone explain?
Sometimes low volume on such exchanger call for the lower rates than the other heavy loaded exchangers. People use this point or fact to do margin type of trading. They usually try to do artificial dump and pump also on such sites as they have less volume then it can literally drive the price crazy if someone got some serious bucks in his pockets. Also there is another reason of using yobit in that they use the investment box to earn the %. Now they give the interest on coin holding and thus you can grow your coins in number over the time. May be these are some reasons why people use it. |
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MasterNodes.Cash
Newbie
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Activity: 56
Merit: 0
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May 21, 2018, 12:16:29 PM |
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You can sometimes pick up undervalued gems on these exchanges. Not all coins launch on Binance right off the bat, they build up their listings which is the right way to do it. If you immediately list on all the best exchanges, you won't have subsequent pumps before new exchange listing. So even good projects occasionally list on crappy exchanges to keep the community engaged. That's why smart investors and traders stalk these exchanges...to pick up good coins before they pump on better exchanges.
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sisjow
Newbie
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Activity: 154
Merit: 0
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May 21, 2018, 02:25:25 PM |
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What's the reason for using a low-quality exchange like yobit? There are so many other exchanges that allow for no verification (like binance) that I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.
Could someone explain?
perhaps some people use yobit because for trade the coin which only available on yobit. or the other reason is perhaps people want to use the exchange which has easy registration like yobit. |
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holtzmann
Newbie
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Activity: 179
Merit: 0
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May 25, 2018, 09:57:50 AM |
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There are no good or bad exchanges, because each of such services has their pros and cons. Some people could like for example Coinbase, and other could say that 'they're terrible' due to personal experience and other reasons. As for me, I'm quite satisfied with Cex services, but I'm pretty sure there will be also those, who will say 'whaaat?'. Many men, many minds. You can't please everyone. Go for one that completely suits your puposes. |
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Callmeandy
Jr. Member
Offline
Activity: 213
Merit: 1
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May 25, 2018, 09:58:53 AM |
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i think it because they are ready to put 100$ on one coin, and wait for x10-x20, when someone pumps it.
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★Fivestarminingnetwork Website (https://fivestarminingnetwork.com) ★ ★ Twitter (https://twitter.com/FiveMining) |
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Marnihughes82
Member
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Activity: 363
Merit: 10
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May 25, 2018, 10:04:56 AM |
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Actually I also do not like using yobit. But sometimes there are many coin that no floor exchange but at yobit has, so also have to use
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Koadharber
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July 05, 2018, 09:11:31 PM |
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Some of them have no idea that others exchanges exist, some of them only find specific coin they want to buy on this exchange, some of them are paid to buy ther so they can create volume and so on...
Yes exactly, some of them didn't know exactly the brief description of the exchanges that they used so they made also a mistake to used bad exchanges. Well some of them would like to try this kind of Exchanges because they are looking for a good Exchanges that so happen they get a bad one which they couldn't get a good profit. So we should conduct a massive Research for that Exchange that were going to used. Lack of research and lack of awareness is the common reason why some people get derailed and ending up on using up these kind of exchangers where reputation is too bad and they would find out later on when they do already experience problems yet they would tend to search up those times and finding out about the exchange but well its too late now you are already hooked up with the problem. |
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exchange.blue
Member
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Activity: 420
Merit: 40
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July 05, 2018, 09:28:42 PM |
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Who said that its bad? It lacks support, but its liquid enough to trade decent size (except shitcoins). There are 200 exchanges on the https://coinmarketcap.com/exchanges/volume/24-hour/ list, I can say say with confidence that Yobit is far more liquid then most of the ones mentioned on the list. Their withdrawal timing is quick enough , unlike many others exchanges where your withdrawal needs to be approved by a one man army. The fact that it lacks any kind of support and displays tons of shitcoins with disabled wallets is a big downside, but other than that I'd say that its not a bad exchange, I've seen far worse. Don't get involved with trading shitcoins and you'll be fine. |
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