YoBit.net Review

The Russian cryptocurrency exchange YoBit was established in 2015. YoBit was first represented for the less popular Altcoins. No other information about the exchange is disclosed on their website. The cryptocurrency exchange, YoBit deals in a large volume of cryptocurrencies. However, at the same time, the cryptocurrency exchange is criticized by a lot of traders.

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There are a plenty of coins that the users can access at YoBit. At present there are more than 250 Altcoins that are used regularly in trading by YoBit. So users can exchange against DOGE, WAVES, BTC, DASH, BCC, ETH, VTC, LTC and the fiat currencies Rubles and USD.

Some interesting features are offered by YoBit.net:

  • User-friendly trading platform
  • Users can pay in fiat currencies through the popular payment methods in Russia
  • Sometimes users get free coins when someone donates a coin or a fresh list of coins is added
  • The website comes with an inbuilt game that allows the traders to bet from the domain with the cryptocurrencies they have opted for
  • The exchange has fixed transaction fee of 0.20% and they cannot go beyond that
  • Users can also invest their Altcoins and get a good return against it

Fees:

If the traders are paying in cryptocurrencies, they don’t have to pay any deposit fee, but the withdrawal fee is 0.0005% of the Altcoin. However, the fee structure changes as the investors use different modes of payments. In most of the cases, investors can deposit without any cost. But the withdrawal fees vary from 1 percent USD to 7 percent USD or from 4% Ruble to 9% Ruble.

Is YoBit safe?

While dealing in cryptocurrencies, safety is always the priority of the users. Hence many traders have lost their money by investing on fraud Altcoin exchanges. Also the security system of YoBit is pretty tight. There’s a two-tier verification feature that makes the login process pretty safe. Besides, there’s a login email authentication. There’s another feature that blocks all the transactions in the event of misuse of the user’s credentials by any unauthorized individual.

Customer support:

The traders have to log into their account with the YoBit website and submit a query. According to the company, as soon as the ticket raised, the customer support replies. Depending on the tickets raised, it may take from an hour to a day to respond to a query.

Pros:

  • Both Rubles and USD fiat currencies are accepted
  • Competitive fees
  • Safe website
  • Easily accessible web interface
  • Globally available
  • Russian, English and Chinese languages

Cons:

  • Credit cards not accepted
  • Hidden company details
  • Late withdrawal
  • Delayed customer support
  • Lacks the option of free trading from the trader’s perspective

Affiliate Program:

YoBit has an affiliate program where the affiliate gets 20 percent of commission for each business his/her referral makes. Another sometimes the affiliate may get a bonus as well. The user has to visit the website to fill up the online form and become an affiliate partner to avail the referral program.

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YoBit Aaffiliate Review

Our Review
  • 7.1/10
    Affiliate Program - 7.1/10
  • 7.3/10
    Features - 7.3/10
  • 4.1/10
    Reputation - 4.1/10
  • 5.2/10
    Security - 5.2/10
  • 8.6/10
    Usability - 8.6/10
6.5/10

Summary

Non transparent. According to various sources currently being investigated by Russian authorities: need we say more?

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