Why do people use bad exchanges like YoBIt?

[tiggytomb]

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 because Yobit tends to add everything and anything so if you can't find a coin anywhere it is bound to be on Yobit, it hasn't got the best reputation but it is still here and has been going for a few years now. 

If you do have to trade on Yobit keep it quick and small just in case.

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[Arngrim]

Well I'd rather use Yobit than using HitBtc which is really a gigantic one when it comes to thievery.

There could be a reason behind using Yobit.
1. They could be used to it.
2. The ICO they joined can only be traded to Yobit.
3. Loyal people.

But this exchange wont answer support anymore. I dont think it is a good thing to stay there anymore.

[rawafe]

YoBit, in my honest opinion is a good exchange. It has some advantages like competitive Fees and the fiat currencies are accepted.
On the other hand it has some disadvantage like the credit card aren´t supported.

[Osarman]

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.

The problem is that a lot of the reputable exchanges demand for a lot before you can get listed on them and that sometimes frustrate some projects. However, any serious project will prefer getting listed on a reputable exchange than listing on a shitty exchange where most of the other shitcoins are present.

For some reasons with forks anyway, it seems they have never disappointed. So, I guess that has been their marketing strategy to keep whooping people's fund.

[zeaderza]

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 have tried to wrap my head around this and I still always get confused. Is it not crazy how people will just go crazy with the idea of getting verified and will not mind losing their funds to a shitty exchange.

Despite the fact that people keep complaining about Yobit, HitBTC and the likes, a lot of people still go ahead using them anyway and telling you that they do not have any problem so far. As in really? So until they have a problem?

[redsun114]

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/

I have tried this and it is still a bit complex to use though, but for those that love privacy over complexity, then it is a go. Only if the community can increase, this is really going to fly a lot. 

It is really a good idea having an open source P2P exchange as that has always been the main idea in the first place anyway until we ended up missing it with centralized exchanges, but really so far, I have had no problem using bisq as long as you get used to it.

[Sowik]

I have literally never used YoBit and never will! With decentralized exchanges coming up hopefully YoBit and such other exchanges will die off.

[Mahanton]

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 because Yobit tends to add everything and anything so if you can't find a coin anywhere it is bound to be on Yobit, it hasn't got the best reputation but it is still here and has been going for a few years now. 

If you do have to trade on Yobit keep it quick and small just in case.

Precise reason why do people do still keep on using this shitty exchange. There are coins which are only being listed on here which as an investor or bounty earners you wont really have any choice but to take the risk just to sell out your tokens.Even though you are aware on their shitty reputation you would still pursue or proceed just for the sake of profit taking and as being suggested just try out small amounts first and dont send tokens on bulks just to try out if their wallets is working.

[my1st]

Many newbies begin their acquaintance with cryptocurrencies through shitcoins. And most of shitcoins are traded exactly on the Yobit exchange. With the study of the crypto market, newbies begin to understand that there are more serious exchanges like Bitfinex, Bittrex, Binance etc.

I started my journey into cryptocurrency world with the Yobit exchange, but at the moment I do not use this exchange, because I heard a lot of negative reviews about it.

[The best one]

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 think Many users didn't understand about any problems yet in using Yobit exchange. In my case, I only experienced minor problems with them and I get solving by short period of time. Same with others. But Some are disadvantage and I can see that many times in the forum

[Cacingkemi]

I have left my feet there since such a slow operation makes me powerless to trade,maybe people who still trade there get a profit out of nowhere I'm not to know because the only advantage that human beings are looking for is not the typical loyal person.There can also be insiders who want to manipulate the trade Just my thoughts.

[Pattberry]

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.

What i think is that they have better advertisement than the rest of the exchanges, other than that i do not think that yobit could get that many users and if you look most of the users might be new to the entire market and i am not using the exchange for a long time as it has some coins which is only created for pump and dump and i lost some money in those scams when i was new to the market.

[Jating]

Many newbies begin their acquaintance with cryptocurrencies through shitcoins. And most of shitcoins are traded exactly on the Yobit exchange. With the study of the crypto market, newbies begin to understand that there are more serious exchanges like Bitfinex, Bittrex, Binance etc.

I started my journey into cryptocurrency world with the Yobit exchange, but at the moment I do not use this exchange, because I heard a lot of negative reviews about it.

Same case for me. Yobit actually is the first crypto exchange that I heard of when I was just starting my trading journey and I was awed as how trading exchanges worked back then. But it doesn't take long for me to realized that there are more exchanges out there, better than Yobit so I completely shift all my funds and traded somewhere else.

And the last time I heard there are a lot of scam accusations against them + poor customer support. They might still attract newbies because there are coins that are only listed in Yobit, however, it will just a matter of time before you seek better exchange once you experienced first hand how poor Yobit's support is.

[neoandtrinity]

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?

They have many new coin list soon than others and I really don't have any problem with withdrawn or deposit, but always send your coin in 3-4 exchange markets for your safety.

[Tenderino]

The reason is because most people do not make any research prior to using a service and or invest their money. They listen to friends or see something or hear something. But this is not only with exchanges, but with almost all things. There is a reason why there are countless threads where people got scammed in the scam accusation section here on bitcointalk.

[Innerpumper]

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 yobit have many coins are inexpensive and easy to get a very large profit. However, many also lose trade there

[nieninja53]

They are using some low rated exchanges because they have some coins that are listed in these type of exchanges and that is why they are bound to join these exchanges in term of selling their coins,

[ufaiz50]

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 think it's because the volume of coin is different and more yobit has a lot of coin that can be traded there, although some are scam coin, I once traded on yobit there I saw slow deals and comparison of buy and sell order values very far, people who use chat feature often give FUD.

[tonyosa]

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?

so sorry if you have had issues with Yobit.For me however,it has been nice,i have never had any issues with them,i think they are ok.Easy to use,also have it in mind that there are not perfect exchanges anywhere.I have had some bad experience even with Poloniex

[Arwinkim]

There must be a particular reason of course, for example my friends use it because they can make money from its InvestBox and Dice. Perhaps, people don't like Yobit because it is having persistent technical issues usually when dealing with minor crypto currencies.