Why do people use bad exchanges like YoBIt?

[squatz1]

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?

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[bingble]

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.

[Rj Manik]

I think, people use low quality exchange for some reason.Example many new coin added on this exchange.people think, when a coin added new exchange then they make a good profit.Low quality exchange give some offers  like get free fork coin and use simply and lowest withdraw fees.I think, this reason people use low quality exchange.

[Jorosss]

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?

Because there are coins that are only listed in yobit exchange so they are force to use yobit even if they dont like it. Second is those fork coins that is supported by yobit exchange, investors/traders want a free money. But all in all, it is a highly avoidable exchange

[Wind_FURY]

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.

If you are tired of bad exchanges maybe it is time to start using this,

Decentralized trading? Use BISQ. https://bisq.network/

[harizen]

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?

Some coins only listed on Yobit. The volume is way better here than being listed only on decentralized exchange like Idex, Etherdelta, Forkdelta etc.

Some users didn't experienced any problems yet in using Yobit exchange. In my case, I only experienced minor problems with them and got solved within short period of time. Same with others. But some are unfortunate and we see that many times here in bitcointalk forum.

I have some coins currently playing on Yobit but I know the risks. If people want to minimize their worries then they should stop using Yobit exchange.

[herurist]

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?

Bad and good is relative and people have different assessment, most people will see yo bit product ( available coins ), fees, kyc ( verification ) and delay transactions ( problem ). As long they can get result from their transactions and feel comfortable with rules it will be fine to keep stay. We can't force people leave yo bit because we don't like with rules, already has unsolved transactions problem and delay, they have their own decision and please accept that.

[btc_angela]

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?

Probably newbies tend to try shitty exchanges to gain experience. But overtime, they will move out specially if they found out how shitty a exchanges Yobit is.

I admit that in the beginning of my journey, I was in awe to used Yobit and seeing all the graphs popping out and trading volumes in real time. lol.

But then later, I found out that there are other exchanges that offer better services and support and the platform much stable. So I just moved out and try other exchanges and never go back to that shitty Yobit.

[Kingofbitcoin12345]

Good for me,, I don’t try bad reputable exchanges.. This once been a well-known exchange in the forum but after some problems it degraded and die.. It was not well-manage and turn all in messed.. Gonna be careful with using such exchanges if you value your investments,, fees is reasonable when security is necessary..

[squatz1]

I think, people use low quality exchange for some reason.Example many new coin added on this exchange.people think, when a coin added new exchange then they make a good profit.Low quality exchange give some offers  like get free fork coin and use simply and lowest withdraw fees.I think, this reason people use low quality exchange.

Hmm, I guess that's a fair one to use. As only a bad exchange, like yobit, is going to have the lower reputable coins that are going to be more likely scams. Makes sense.

Kinda sad though, wish that YoBit wasn't around though, they seem to plague the newbies with their 'exchange' which is just a waste of time in my opinon. But I guess they have a place.

[gentlemand]

People stick to what they know. There may also be many users who've had nothing but an exemplary experience there. We only hear from the people who've been raped.

Yobit seems to specialise in trading fork futures you can't find anywhere else. There's a ridiculous amount to be made in some of them. Folks follow the money.

[avp2306]

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?

It's because the coin who they hold for a while is listed only on that exchange and that would be the simpliest explanation on why people keep trading on that yoshit exchange eventhough it is know for their bad repuation here. But let's put all what we have on single shot so that if our token deposits and withdrawal will compromised we will not get a huge stress on our side.

[Lucius]

Few years ago YoBit was very popular among users here on forum since they have signature campaign and they pay more or less regularly.I was part of that SC and they allow to user have referral link in signature so I have hundreds of referrals.Even today some of them are active and I still get 20% of their trades.I've never had a problem with YoBit,but I see many users report them as scam these days.Only problem for me is very high withdraw fee for BTC withdraws(120 000 satoshi),which is really too much nowadays.

Reason for people still use YoBit is for several reasons :

-Old habits die hard.
-Some coins only available there.
-People simply do not know that there is something better.
-YoBit is using Google Adds/Some users just click on first link.

[ilya_gr]

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?

One of the main reasons is pump,isn`t it?)Newbies look on huge %, they don`t know about shitcoins,so they decide to trade on this exchange looking forward to become reach with these pumps:)
Yobit is really bad idea for normal trading or investing in long term, quite big fees and problems with withdrawals too

[ss890]

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?

I am not sure if the yobit is bad exchanger or should we call it like that way or not. But for me this exchanger is worth using because of its low volume. The low volume gives out less value to the coin and we can buy with lesser value than other market. This gives me window to trade on different exchanger and this is why I use the yobit. It's all about the trading anyway and if it is profitable then who cares whether the exchanger is good or bad. Also though the name of yobit is taken in negative way it doesn't mean that it's really bad one unless and until you experience it that way.

[thesmallgod]

there are reasons for this. firstly those exchange that you may refer to bad exchange have many altcoin than big exchange like binance. in fact, it is even easier for a coin to get listed on yobit than binance. secondly, some large exchanges like bittrex and binance limit the number of registered users. I don't think bittrex is accepting new users and we all know that late last year binance also remove the registered button from their platform but I think they are accepting new users now

[eternalgloom]

A lot of people are just lazy and use whatever they find first. I've always thought that Yobit was a shady exchange, read quite a few horror stories about them.
As far as I know they do offer some coins exclusively, but I think that says more about the coins in question than about the quality of the exchange.

I wonder if exchanges like Yobit can even continue to exist in the future, the competition is always getting better.

[cheezcarls]

I still believe in Yobit though. They are still one of the reliable exchanges up to date. They've added YOLO Coin recently, and we will see how it goes. If they want to bring back their reputation and trust, they should do something that could make traders happy in their platform.

I know they had made mistakes, but not all exchanges are perfect anyway. Yobit is still a well-known exchange, so I might give them a chance to improve their services.

[vintages]

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.

If you are tired of bad exchanges maybe it is time to start using this,

Decentralized trading? Use BISQ. https://bisq.network/

Exactly. Apart the avalibility of some listed coins; this was actually my initial thought too. Those scammer who scam people from bad exchanges knows themselves and do their trading in groups. Don't be surprised if it later verified that it one person opening different accounts to trade to him/herself. Though, I still hear few good review about Yobit but I don't think most people can trust it again.

[peterthegreat]

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.