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Author Topic: Why do people use bad exchanges like YoBIt?  (Read 504 times)
AVAMONEY
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March 13, 2018, 05:13:44 PM
 #21

OP, it is a trick called "priming the pot". The scammers behind an exchange trade with each other or hire market makers to make the appearance that some activity is going on, encouraging all of us to make a deposit and trade there.
-snip-
I think your opinion is true. Trading are about circulation money in large limit, we should aware about this finding legit exchange's.
But the problem's is not all legit exchanges has many coins/token available. YoBIT has offer many coin that be available for trading on there, in addition with a group behind the exchanges that running fake activities to make volume transaction increasing. In the end they will going to scamming their member.

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March 13, 2018, 05:42:13 PM
 #22

There are many reasons why many people use Yobit. Yobit has been in the market from quite a few years and it has developed over the years. Although it is still a shitty site, it has attracted many users from throughout the world. It offers a wide variety of features such as dice, investbox, yobitcodes etc...
Apart from that it also gives free coins from the forks which not many other exchanges gives. It has supported almost every fork that has ever happened till date. So even though it is a shitty exchange, people still use it because of the features it provides.














 

 

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March 13, 2018, 05:44:38 PM
 #23

Most people don't think that far that an exchange could hustle them either that or there is a certain coin that only trades there. That is the only real reason I can see for going to a bad exchange, but even then I would avoid that exchange because of that. I personally know that Yobit ran an old chain for 6mo+ and knowingly didn't take it down after multiple support issues. If your website knows you are running and old chain yet still takes the profit from that and gives users old coins then I am sorry but your site is a piece of crap Undecided.

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March 13, 2018, 05:45:39 PM
 #24

YoBIt exchange is convenient, but dangerous. Many people are attracted by the input from convenient payment systems of personal funds with minimal commissions. On YoBIt there are a huge selection of coins for trade, convenient ways to withdraw funds. People are ready to take certain risks, but at the same time spend less (because there are low commissions on this exchange) than to pay extra and secure themselves. A lot of people live on the principle of "maybe, nothing will happen." That's why they use such unreliable resources.
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March 13, 2018, 07:44:33 PM
 #25

Mostly because there are some altcoins , you can't find in any other place , specially if you have joined to some ICO and you got plenty of that token that can only sell them on Yobit!
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March 13, 2018, 07:48:55 PM
 #26

I think there are some alt coins only available on YoBit
Yeah, that's definitely part of it.  If you're looking for the shittiest of coins, you'll find 'em on Yobit--and there are tons of people in this world who love investing in altcoins that go for 1 satoshi.  They think of it as buying a cheap lottery ticket, where if the coin eventually gets pumped, they'll win big.  But most of the garbage that's sold on Yobit has no market whatsoever.  All you see are sell orders, and that's all there will ever be. 

In addition, Yobit hasn't yet turned out to be a complete scam exchange.  You can actually get some trading done there with few problems--I've done it.  On the other hand, I'm totally done using them, since I don't trade anymore and I don't really trust them.

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March 13, 2018, 08:49:29 PM
 #27

shady markets when you can trade a lot of unknown coins and exchange generally pums and dumps

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March 13, 2018, 10:23:13 PM
 #28

I think the main reason is coin or token they want to trade only listed on bad exchanges like Yobit. LOL. But I don't know why there are a lot of topics report about Yobit but I've traded on Yobit for long times but everything still fine with me. But I also agree that Yobit is the tomb of so many altcoins cause you only trade on Yobit cause they disable both deposit and withdraw for these coins

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March 14, 2018, 03:38:11 PM
 #29

I think there are some alt coins only available on YoBit, or the price of some coins, or the fees are lower than other exchanges.

But for my opinion, we should not use these exchanges if not necessary.
No, let me correct that. There are some shitcoins good for pump and dump that is available on Yobit and apparently not available on any reputable exchange. I guess a lot of newbie traders like the idea of pump and dump, so I am not surprised and they would not mind bag holding a shit coin in a shit exchange. it is just crazy that as much as we keep saying this, a lot of people still take the whole thing unserious and when they have problem they keep running to the forum to complain. Serves them right.

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March 14, 2018, 05:10:17 PM
 #30

There are few reasons for this
1) Lack of knowledge and information
2)Due to price volatility
3)FUDs and fake news regarding the trust with exchanges.
4) The last one is less option of exchanges which posses every coin in it.
These are the issues,that community needs to solve to avoid this kind of problems.

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March 14, 2018, 05:29:44 PM
 #31

Because it has some coins that no exchange listed, and with a low-volume exchange, small sharks or whale play pump and dump. You know, some peoples like an exchange with many trash coins, they have more options when trading. And i'm still using Yobit, to sell token or coin i earned

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March 14, 2018, 08:43:04 PM
 #32

Many new coins and tokens are always be listed at yobit before others popular exchangers and that is the major reason why many people trade at yobit and to me any place I can actually do my business I don't mind as far I get good services and my coins are save. Yobit as a business is also there to satisfied its customers.
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March 14, 2018, 09:10:11 PM
 #33

Many new coins and tokens are always be listed at yobit before others popular exchangers and that is the major reason why many people trade at yobit and to me any place I can actually do my business I don't mind as far I get good services and my coins are save. Yobit as a business is also there to satisfied its customers.
This label of bad exchange is affecting trade on the exchange. The exchange list most shit coin with barely no volume, pump them and make money from ignorant investors/ new investors. the exchange may get on ICO soon like every other exchanges lately to raise fund to promote and expand the exchange

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March 14, 2018, 09:16:13 PM
 #34

I don't think people doesn't care in a very high charge as long as it is legit. If you tend to use YoBit it isn't a bad idea because you can't force  people to use HitBTC or Binance because we think that their tokens aren't available in other trading sites that's simple. I am currently monitoring Blockfolio coins but my token is a available in FoxDelta.

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March 14, 2018, 11:08:41 PM
 #35

Although you say yobit is a low quality market, but many people benefit and certain moments are issued yobit so as to provide great benefits.


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March 14, 2018, 11:15:22 PM
 #36

Bigger exchanges like Binance only list established and bigger coins while exchanges like YoBit list smaller coins which you wont find anywhere else. Also not everyone knows about all the exchanges and they might only know about YoBit.

People might curious to use this coins basically their ICO token are listed only on this exchanges but for me its risky to use small exchanges like this. Better to settle into some big exchanges that is already here for years, though its not perfect but still better compare to Yobit.

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March 14, 2018, 11:18:51 PM
 #37

what coins does yobit specficially have that they cannot get anywhere else?
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March 15, 2018, 12:58:52 AM
 #38

In my opinion because Yobit operated since acouple year ago, and many trader does not have any problem with deposit, withdrawal and trading processing. And yobit also continue to promote their platform by offer referral bonus.

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March 15, 2018, 05:49:08 AM
 #39

Yobit is one pf the oldest exchanges despite all of the negative news, a lot of people still used yobit for trading, and I have been using yobit for quite sometimes and never got problem with the deposit and withdrawal, many people like to used yobit because it got a lot of alt coins that can't be found in other exchanges and yobit is also one of the exchanges where actively adopt fork coin

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March 15, 2018, 05:39:42 PM
 #40

I think because maybe they have their coin that just list in Yobit. Bad or not it's depend on costumers. I think Yobit also potential exchange thought they have some problem. Lower fee, hight price for some coin also make people decide to use Yobit.

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