Yobit review 2022: Is it legit or scam?

1 year ago By Blockchain Mata

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Yobit is a digital currency exchange that operates in the United States and Europe. Yobit was founded in 2015 and provides trading services for more than 250 digital currencies, including Bitcoin, Ethereum, Litecoin, DASH and others. In this yobit review, we will be doing a quick and straightforward review of the cryptocurrency platform. 

What is Yobit?

Yobit is an international cryptocurrency exchange platform that offers trading services to users from all over the world. The exchange platform allows users to buy and sell their favourite cryptocurrencies using a wide range of payment methods like Visa and MasterCard credit cards, Interac e-Transfer, SEPA transfer etc. The company has its headquarters based in Russia, but it is operating in other parts of the world like Europe and North America as well.

Yobit offers its users a secure environment where they can trade their virtual currencies without worrying about any cyber threats like malware or phishing attacks because all transactions are processed through encrypted HTTPS protocol which keeps your personal information safe from third parties.

The exchange platform also provides detailed pricing information about all traded coins so that you can make informed decisions before investing your money into any digital currency listed on their website.

Yobit offers three types of accounts: basic, advanced, and pro. Each account type comes with its own set of perks and restrictions.

Basic accounts are free and allow users to hold up to $10,000 worth of cryptocurrency per day.

Advanced accounts cost $1 per month and allow users to buy/sell up to $100,000 worth of cryptocurrency per day. They also come with higher withdrawal limits (up to $300,000).

Pro accounts cost $5 per month and allow users to buy/sell unlimited amounts of cryptocurrency per day. They also have higher withdrawal limits (up to $2 million).

How Does Yobit Work? 

The platform works like many other cryptocurrency exchanges, allowing users to buy and sell currencies using fiat currency (USD, EUR) or other cryptocurrencies such as Bitcoin or Ethereum. 

It also allows users to deposit funds via bank transfers or cryptocurrencies such as Bitcoin or Ethereum. 

Once funds are deposited onto your account, you can use them to make trades on the platform. To withdraw money from your account, you have to click on the “Withdraw Funds” button at the top right corner of your screen and select an available withdrawal method. You can withdraw using wire transfer, PayPal or any other payment method offered by Yobit.

YoBit Exchange Review: Key Features 

Yobit is a cryptocurrency exchange that started in 2014. It’s based out of Russia and has an average daily trading volume of $33M. It’s one of the oldest exchanges operating today, having been around since 2014.

Yobit offers over 2,200 different coins and tokens for trading as well as other services like margin trading and lending.

The exchange supports both fiat and cryptocurrencies, including USD, EUR, BTC, ETH and LTC.

Several key features make Yobit an excellent choice for traders:

High liquidity

Yobit is one of the most liquid exchanges in the world, which means that you will not have problems finding buyers and sellers for your coins.

Multiple trading pairs

You can trade any coin against another coin or against Bitcoin or Ethereum. This allows you to diversify your portfolio by trading multiple currencies rather than just one at a time.

Easy-to-use interface

No need to create an account to trade with them

High volume trading 

Yobit has one of the highest volumes among all cryptocurrency exchanges, which means there are always lots of people buying or selling at any given time, which can help you get better prices during your trades. 

One of the most accessible platforms to list a coin

Listing your token on YoBit requires filling in a simple form and paying a 2.79 BTC fee, which is excellent for new crypto projects. On the other hand, there may be scam projects, too, so you should do your due diligence as a user.

Fiat currency support 

You can use USD or EUR for your trades instead of using cryptocurrencies like BTC or ETH by using Yobit’s fiat currency trading pairs which makes it easier for newcomers who don’t have much experience with cryptocurrencies yet but still want to get involved with them somehow by using their services at least once before making any major decision about investing in them later on.

Yobit review: is the platform legit and safe?

Yes, Yobit is legit. It is one of the oldest platforms on the internet and has been providing services for a very long time. The website has been developed with a focus on security and user experience. Yobit uses an escrow system to ensure that all transactions are safe and secure.

Safe? Probably not. Yobit is known for its high fees and poor customer service, which is why we do not recommend this platform to anyone. Many other better options are available, such as CoinbaseBinance, and KuCoin.

The site has been hacked in the past few years, which resulted in thousands of dollars being stolen from users’ accounts. If you are looking for an exchange that can hold your funds securely, Yobit will not be suitable for you as it does not offer any protection whatsoever against hacking attempts or similar issues.

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