RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

YoBit

YoBit Exchange Review

Centralized

YoBit Overview

  • YoBit is a cryptocurrency exchange that is based in Russia. It was launched in 2014. A YoBit exchange review shows that it serves the cryptosphere via almost 500 active markets (493+) and a massive 7000+ currency pairs, including both crypto-to-crypto and fiat-to-crypto currency pairs. In addition, there website is available in Chinese, English and Russian.

    A YoBit exchange review shows that this crypto-asset trading platform is surrounded by many controversies. Controversies include being involved in pump-and-dump schemes involving various cryptos, including PutinCoin (Ticker symbol: PUT), the arrest of YoBit founder, Pavel Krymov, for allegedly being involved in fraudulent activities, the alleged questionable use of ticker symbols and token names to get market participants to buy fake tokens (BNB is “Boats and Bitches” instead of Binance Coin, KNC is “KingN” instead of Kyber Network, etc.), the alleged restriction of token withdrawals by claiming tokens are “Under Maintenance” while deposits remain open and many other controversies.

    In addition, there were media reports surfacing in December 2018 that alleged that Russia banned YoBit, making this crypto exchange inaccessible to Russian residents. They also seem to have notoriously bad customer service and technical support, including some support tickets allegedly not being answered at all. This while being slow to respond to inquiries in general.

    A YoBit exchange review also reveals that this digital asset exchange lost a substantial quantity of Ethereum Classic (Ticker symbol: ETC) tokens during the 51% attack on the ETC network that took place in January 2019. The hacker allegedly returned 94% of the stolen ETC tokens.

    YoBit Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      3579.995 BTC

      • YoBit Total Trading Pairs

        500

        • YoBit Margin Trading

          No

          • YoBit Deposit fees

            QIWI - 5% RWR. All other accepted payment methods - Free.

            • YoBit Fiat Deposit

              Yes

              • Accepted Payment Method

                None

                • YoBit Native token

                  Yes

                  • Native token smart contract

                    N/A

                    • YoBit Trading Markets
                      • YoBit Stablecoins trading

                        YoBit Withdrawals

                        • Daily Withdrawal Limit

                          N/A

                          • YoBit Withdraw fees

                            Coins – 0.0005

                            QIWI – Free RUR

                            OKPay – 5% USD

                            Perfect Money – 5% USD

                            Payeer – 5% USD

                            AdvCash – 3% RUR; 5% USD

                            Visa/ Mastercard – 70 RUR + 3% RUR

                            Webmoney – 2% RUR

                            Yandex Money 2% RUR

                            Capitalist – 5% USD; 3% RUR

                            • YoBit Withdraw fees discount

                              N/A

                              • Proof of Reserves

                                N/A

                                YoBit Exchange Rating Analysis

                                Last edit 19.07.2019

                                • Yobit is a Russian based crypto currency exchange site. Yobit offers both an above average number of markets and a much above average number of tradable pairs. Yobit has an about average commission fee. There are a number of concerns with Yobit. The first concern being the team. There is no public information available about the team members of Yobit. Other concerns for Yobit include a hack that occurred a few years ago and the lack of insurance in the case of a hack.

                                  YoBit Exchange Additional Information