Why do people use bad exchanges like YoBIt?

[Nhebu]

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.

Looks like something reasonable! Apart from new coins listed in a very low cap and not popular exchanges, they also want to buy the latest coin in its lowest price and new coins can be found in low market cap exchange. The difference is, there is no potential to rise up the coins that can be found in this exchange and sometimes, it is hard to withdraw or deposit funds in exchanges who are not popular.

[ahmad21]

It is mainly because that some coins are only available on this exchange. Many new Altcoins are added on this exchange due to which people are forced to use Yobit. Yobit also provide some offers like free fork coins which is another factor forcing many investors to use this exchange. In addition to this Yobit has lowest withdraw fees also a healthy trading environment which is great. But according to me we should not use these exchanges much.

[mwaqar17]

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 also have really bad experience with yobit.  It's worst exchange that I have ever seen. Answer to your question is that sometime it is mandatory for you to use yobit when you have purchased a crypto currency that is only listed on yobit and that currency have become headache for you and you just want to get rid of that 

[Johnny Lgz]

Have you ever drink with fresh egg on top? People try to experience what services an exchange has to offer or to check how things goes with certain exchange so you can't stop people from trying using this exchange. The next time will decide if they will continue using it or to look and try another.

[Anait]

We cannot just term it to be bad exchange, because it is one among the top preferred exchange for altcoins as more altcoins get listed to yobit than any other exchanges. Something I find bad with them is the investment box which seems profitable, but when calculated precisely it is not that effective.

[LeaderAMB]

Yes i see many people complained with Yobit, i never use this exchange since i know many people said they has bad reputation,  i prefer use others like Binance and Kucoin. Can be many trader use it because this.exchange operated acouple years and many people thinking that legit and trusted  exchange. They should make research again to find better exchange and  to be more safe in trading activity.

Yobit is not really a bad exchange. It’s just the different thought of everybody. Moreover, users rarely want to use such a bad reputation because most of people have conception that it brings less of guarantee than any others like binance, bittrex or kucoin. People usually avoid using bad reputation exchange, also to reduce the risk of losing. They almost don’t believe in it too much and afraid of using it. This is really normal because when you don’t have faith in something you definitely will not use it.

[Taner]

I can explain it by the fact that Yobit is suitable for fiat input, there are zero commissions sometimes. As for withdrawals, there are often problems on the technical side of this exchange.

[GaxviiBuss]

Some small coins list only on small exchange, so people own that coins need to use that exchange. On the other hands, those small exchange have low volumn which attract small whales for fast profit.

[Quidat]

I know yobit is not good exchanger att all.but nowadays I only use it for getting fork coin.yobit gives me an advantage and the advantage is Yobit support all of the fork coin.so its helpful to use yobit during the fork.so why till now using yobit exchanger.

When it comes to upcoming forked coins this exchange is very fast on listing it which is an advantage but when it comes to overall performance of this exchange then this would really be on mediocre ones. Terrible supports and shady bots who do pump and dump such altcoins being listed. Might good if you are really pro on riding with those waves where you can really make money but if not then 100% you loss up money.

[financialgoal]

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. 

[javadevm8]

just happens to be an exchange that is easy to get onto so people can only get certain coins on there.

[bering]

yobit is not the best exchange even more likely can consider as bad exchange but i was never figure out why people still use them or maybe some people consider use yobit exchange for trading is more good rather than other exchange however sometimes at yobit there was altcoin can be pumped rapidly so might be people still use that exchange because they consider it's profitable

[buwaytress]

YoBit is not really as bad compared to some other exchanges. I have traded on some really shitty exchanges and I had to do it because those coins were not listed elsewhere. The main motive of these exchanges is to list as many coins as possible so that they make maximum profits out of the commissions. Their shitty user experience doesn't really bother them because they know that users are helpless and have no other place to go. So unless you have a coin which is exclusively listed on YoBit, you do not really have a reason to visit them.

Well. My honest response. They have a reputation which is as crappy as others, but really only when it comes to support. I started out on a slew of tiny exchanges with dodgy reputations... tradesatoshi, Yobit were two of them. Mostly because I tested out the altcoin waters in 2016 and these were really the only platforms that had them. I ended up managing to sell quite a bit and left my Bitcoin balance on Yobit as it was perhaps 0.1 BTC (at the time not even a hundred dollars.

And then when BTC touched 1k, I suddenly had over $100 there. Played around with those exotic alts, made modest profits. Sold some for some major alts, withdrew. Then Yobit happened to be one of the first (the very first, if I recall) to credit BTC balances with BCH, BTG and a whole lot of other Bitcoin forks. Sold everything, ended up with a really decent amount of coin. Withdrew, never looked back.

All these things worked without a hitch. I'd probably never return, but can't say my experience was shitty.

[godfredmanu]

I wanted to trade my tokens and it was surprised that such a reputable project could enlist on bad exchange like YObit. I wanted to dump the tokens because it was a shit coin. I had no option than to use the exchange. But I was cautious of sending any sensitive information to that exchange. I think if anyone find himself with no alternative, the best to do, is to use a different pc or laptop to access the exchange and trade without devouring your real data and self to them.

[BTCITA187]

Yobit is a worst exchange on market I think. If it is not an urgent need and you have choice don't trade there. Scammers like this exchange. A lot of pumps happens there. This is favorite exchange for pump groups. Scam projects need Yobit because they don't want that their ICO looking as a direct scam and they prefer to "trade" their tokens there. It's like it's ok guys we're not a scam our token available on Yobit... But some tokens have 200 $ volume and 10 000 of ICO participants. If some ICO listing their token on Yobit - this is definately scam (in some way) .
Of almost forgot they don't even think support. I wrote a lot of messages but there are still no responding.

[nieninja53]

I think they are using these exchanges because they have some coins that are only available at these type of exchanges and they wants to sell it so that is why they like to join these exchanges to sell their coins,

[stefany101]

People or specifically crypto traders are usually using bad exchanges because there tokens/coins are listed on those exchanges or maybe they want to have a lower transaction fees but they don't think the security and safeness of the funds in their exchanges accounts. Base on my experiences as a trader also, these crypto exchanges are having poor security and can be easily pished by hackers or scammers. That's why we always aware to choose a good exchanges where we can assure the safety of our accounts.

[Fasunathan]

People or specifically crypto traders are usually using bad exchanges because there tokens/coins are listed on those exchanges or maybe they want to have a lower transaction fees but they don't think the security and safeness of the funds in their exchanges accounts. Base on my experiences as a trader also, these crypto exchanges are having poor security and can be easily pished by hackers or scammers. That's why we always aware to choose a good exchanges where we can assure the safety of our accounts.

Even other people trade though that yobit exchanges has the bad reputation from experienced trader, it doesn't mean it will hinder new traders to come before them. Even how good the exchangers you choose to, you're not safe when those phisers attack you. The most safe think to do is your pc system was installed with trusted antivirus security. With that you'll be able to prevent any unsafe activities which linked you to access those phising sites while on trading transactions.

[YED]

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 .

[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?

Easy listing of new coins, Fast release or listing of forked coins which is mostly the main reason why do people still keep on using this exchange where there are really coins in the market which isnt listed on any popular exchange site but only on yobit itself and people wont really have the choice but to risk out on transferring those tokens in the exchange even they know on how bad yobit is when it comes to their service.Once you experienced issues then it would takes time for it to be resolved.