The Complete Guide to the YoBit Exchange

• History
• Founders
• YoBit Exchange
• User Registration
• Depositing and Withdrawing
• Trading
• Other Trading Options
• Fee Structure
• API Keys
• Mobile App
• Token Listing
• Customer Service
• Regulatory Compliance
• Promotions
• Referral Program
• Conclusion

YoBit is a popular and intuitive exchange designed for skilled retail traders. The exchange was established in 2014 by a group of European developers. Also, the company is currently registered in Panama as YobiCrypto Corp. and its registered address is 0801-3254 Panama City, Plaza 2000 Tower, Calle 50 Panamá. YoBit is rated as one of the largest exchanges in terms of liquidity, traffic, and trading volume. Traders also have access to a wide range of tokens, crypto-to-crypto, and crypto-to-fiat trading pairs.

Although the exchange was initially designed for advanced traders, beginners can also take advantage of the user-friendly interface to build their crypto portfolio. The YoBit exchange’s robust trading engine takes a three-pronged approach to ensure that its customers are always satisfied – these are reliability, speed, and platform security. Over time, YoBit has introduced many payment, investment, and money making options to improve the platform's versatility.

The exchange currently supports over 500 cryptocurrencies and 8,653 active trading pairs, making it one of the most versatile exchanges within the crypto space. On top of that, CoinMarketCap data shows that the average daily trading volume on the exchange is $63,684,377, placing it in the 93rd position.

This level of detail can be saved for location section.

History

The platform launched in the last quarter of 2014; however, its official announcement was on the BitcoinTalk forum in January 2015. Over the years, the exchange has proven to be trustworthy with its team of dedicated professionals. YoBit exchange also runs its business operations anonymously, meaning that there is little information about the founders and their team.

At inception, many investors considered this as a major red flag. But the exchange cleared their doubts by reiterating the importance of privacy and confidentiality in the crypto industry. It further stated that anonymity was key to maintaining the platform’s security because disclosing certain information could attract severe consequences in the future.

Consequently, YoBit exchange also places a high level of importance on its customers' anonymity; as such, it does not release their personal data or transaction history to third-party agencies. To this effect, the exchange is registered in Panama because this jurisdiction allows the platform to operate without complying with the mandatory know your customer (KYC) verifications.

In 2018, the company was alleged to be involved in pump and dump schemes. However, it later turned out to be a fragment of YoBit’s YoPump game. Later on, there were reports that Russian anti-graft authorities apprehended the then alleged YoBit CEO, Pavel Krymov, for illegal activities. Nevertheless, investigations later showed that Krymov had no ties with the exchange, and the YoBit exchange subsequently confirmed this.

YoBit Founders

There is little information about the founders of YoBit available online. That is to be expected from a platform that hides most of its business operations. Although the LinkedIn page of the exchange states that Pavel Krymov is the founder, reports show that he is only a cover for the company.

YoBit Exchange

The platform was created with user-friendliness and versatility in mind, enabling it to support the trading of a collection of tokens and crypto pairs. There are a total of 8,653 active cryptocurrency trading pairs on the YoBit exchange. Traders can take advantage of the easy-to-use platform to trade just about any altcoin that exists in the market. Plus, the platform also makes provision for crypto-to-fiat trading pairs, an uncommon feature amongst exchanges. The exchange also improves user experience by offering other lucrative features like YoBit games and InvestBox.

Launched in 2014, the YoBit exchange is registered in Panama and has since become prominent in the cryptocurrency industry. It is, in fact, one of the oldest exchanges there is. Furthermore, the founding team consists of European developers and crypto aficionados. Unlike other major crypto exchanges, the company’s business operations are shrouded in anonymity. More so, the registration process is simple and straightforward, making it possible for investors to trade on the platform without passing through the compulsory AML and KYC verification processes.

Being globally supported, YoBit exchange provides its customers with broader access to the global market. However, investors must note that they may face restrictions imposed by their respective domestic authorities. The platform also boasts of its cutting-edge security measures, which prevent all forms of security breaches and protects users’ assets. In addition to this, investors can purchase and store any token on the exchange. Therefore, they do not have to wait for the development of compatible wallets before they can purchase a coin.

On the other hand, YoBit’s resolve to run a versatile exchange has made it create a simple listing process for tokens. To this effect, private coin owners do not have to pass through a long and rigorous process to get their coins listed on the exchange. YoBit currently supports three languages, including English, Russian, and Chinese. What's more, there is an in-built live chat feature, which supports five language options. These options are English, Chinese, Russian, German, and Arabic.

However, in a bid to have a simplistic design, the exchange misses some important trading tools. For instance, there is no take profit or stop loss feature, making it nearly impossible for investors to apply proper risk management. This means that traders always have to monitor their trades manually to avoid incurring huge losses. The active monitoring may also be less effective in a highly volatile or illiquid market. On top of that, YoBit exchange does not support indicators, thereby limiting some traders' capabilities.

In summary, the features that set YoBit apart from other exchanges include:

• Versatility: The exchange has a large selection of tokens, with over 500 cryptocurrencies and 8653 active trading pairs.
• Low Trading Fees: YoBit charges a flat maker and taker fee of 0.2%. In addition, the exchange does not support the tiered fee structure based on trading volume.
• Private Trading: Traders on the platform do not need to undergo the KYC and AML checks before trading. This feature makes the entire registration process to be fast, easy, and convenient.
• Simple Token Listing Process: Listing a token on the exchange is as simple as filling a form and paying a listing fee of 2.79 BTC. However, users must exercise extra caution as scammers might take advantage of this feature to list non-viable projects.
• YO Token and other IEOs: The YO token was designed by YoBit to offer numerous benefits to its holders. On the other hand, the exchange usually hosts IEOs, making it easy for customers to invest in new and scalable crypto projects.
• InvestBox and YoBit Games: Customers who seek steady earnings can invest in YoBit’s InvestBox. Also, traders can partake in the events and games organised by the exchange. Here, users can try their luck in the Roll a Dice or YoPony games to earn more digital assets.
• Fiat-to-crypto Markets: The exchange offers fiat-to-crypto pairs for its users, meaning that traders can make deposits and trade with fiats. This comes as a surprise being that YoBit is a self-regulated exchange shrouded in anonymity.
• Free Coins: Users can also earn free token on the platform by completing simple tasks.
• 24/7 Support: YoBit offers round-the-clock Telegram support, encouraging users to make enquiries or lay complaints at any time. The group chat on the website also provides a connection between the admins and traders.

YoBit Trading Interface

The platform has a basic and straightforward interface with a white backdrop. A simple trading chart can be found at the top corner of the screen. This chart is a candlestick graph. YoBit exchange supports only five timeframes, including the 12-hour, daily, weekly, monthly, and six-month time frames. Traders can also view the current market price, daily high and low prices, as well as the average daily trading volume. There is also a button above the chart, which directs users to the order book.

The balance and market sections are located on the left-hand side of the interface. Users can take advantage of the balance section to monitor the funds in their trading account. This section supports only nine currencies, including Bitcoin, Litecoin, Ethereum, Tether, Dogecoin, DASH, YO token, US Dollar, and Russian Rubles. The Market window, for its part, displays the various crypto-to-crypto and crypto-to-fiat trading pairs from which users can choose. Also, there is a search panel in this section, making it easy for users to find the pair they wish to trade.

The right-hand side of the interface houses the chat section. Users can avail themselves of this feature to interact with other traders and exchange ideas. As mentioned earlier, this section supports five languages, including English, Chinese, Russian, German, and Arabic. YoBit exchange also regulates the chat section's activities to ensure that no user is bullied or scammed.

Traders can also see the order execution panel, the trade history section, and the order book directly below the chart. The trade execution section provides various fields for traders to input their trade parameters before executing. However, users must note that YoBit does not offer advanced tools like stop loss and take profit. Plus, YoBit makes provision for limit orders only. The trade history allows users to see the trades executed by other users on the platform. They can also see the timestamp, trade volume, and the price at which a trade was executed.

User Registration on YoBit

Every user must register on the YoBit exchange before trading can begin, and the platform ensures that this process is simple. Since the exchange does not require the KYC verification, traders do not have to give out their personal information when registering on YoBit. With this feature, users’ privacy and anonymity are guaranteed.

To register on the exchange, prospects must visit the official YoBit website and click on Register And Get 1,700 Free Dollars. Next, a modal window containing four data fields will pop up. The first field will require the user to key in the username of his choice. The second field is meant for the trader’s email address, which YoBit will use to communicate with the user occasionally. The third field requires the user to set a secure password. It is recommended that traders input a minimum of eight alphanumeric characters to ensure that their password is secure. Then, the fourth field also requires the user to input the password again to ensure that it matches the first one. This step is taken to detect and correct any initial mistakes made by the user.

When the trader completes these fields, he must check a box to agree to YoBit’s guidelines as well as pass the captcha test. Then, he must click on Register to proceed to the next step. YoBit will then send a confirmation link to the user’s email address. When the trader clicks on the link, he will be subjected to another captcha test before the exchange can confirm his registration.

Two-Factor Authentication

After registering on the exchange, traders are advised to enable the 2FA feature to beef up security. This tool makes it impossible for hackers to access users’ accounts, even when they have cracked the password. With the Two-Factor Authentication in place, YoBit will request for a six-digit authorisation code before confirming any login attempt.

To enable the 2FA feature, the trader must firstly download the Google Authenticator app from Google Play Store. The next step will be to scan the QR code on the YoBit exchange. Then, the trader must finally input the authentication code generated on the app to complete the 2FA process.

Before the Two-Factor Authentication is enabled, a secret key will be displayed on the exchange. YoBit recommends that traders pen down this key and store it in a safe place. In the event whereby the 2FA device is lost, the secret key will be used to disable the device and recover funds. However, if the user happens to misplace the secret key, his funds will be lost entirely.

Depositing and Withdrawing on YoBit

YoBit exchange offers fast and easy deposit and withdrawal options. Unlike many exchanges in the crypto market, the platform provides its customers with options for both fiat and crypto deposit and withdrawal. Also, there are no limits placed on deposits or withdrawals, meaning that users can carry out transactions of any size. It is worth noting that YoBit confirms all deposit and withdrawal transactions within an hour.

Fiat Deposit

Traders can only make fiat deposits in US Dollar and Russian Rubles. The available options for depositing USD include PerfectMoney, Payeer, Visa, MasterCard, AdvCash, and Capitalist. Then again, RUR deposits can only be made through Payeer, AdvCash, QIWI, and Capitalist. To make a fiat deposit, the user must click on the Wallets tab on the navigation bar. He then has to find his currency of choice and click on the Plus button beside it.

Next, a modal window will pop up, showing the available options and a data field to input the deposit amount. After inputting the required information, the trader must click on the Deposit button to proceed. He will then be taken to the payment gateway to confirm his transaction. Upon completion of this process, the funds will reflect immediately or within an hour.

Crypto Deposit

To deposit crypto, traders should go to the Wallets tab and click on the Plus button beside their preferred cryptocurrency. A modal window will come up, showing the wallet address and the QR code. The investor can either use the wallet address provided or scan the QR code. He can then deposit funds in his YoBit wallet. If the trader wants to generate a new wallet address, he can simply click on the Obtain New Address button. YoBit also allows traders to use their wallets to purchase and save tokens obtained from third-party exchanges.

Fiat Withdrawal

The withdrawal process is just as easy as making deposits. When a trader wants to make fiat withdrawals, he will have to go to the Wallets tab first. Then, he must click on the Minus button beside his preferred currency. After that, the website will display a modal window containing the withdrawal options and two data fields. The user will have to select an option and fill in his withdrawal address and amount in the data fields. This window also shows the withdrawal fees and the amount the trader will get after charges. After inputting the required information, the user must finally click on Withdrawal Request to proceed.

Crypto Withdrawal

To withdraw tokens, the trader should visit the Wallets section and click on the Minus button beside his cryptocurrency of choice. A modal window will then pop up, and the user must fill in the required information in the fields provided. He must finally click on the Withdrawal Request button to continue.

Users must note that their transactions must undergo a verification process before they are confirmed. YoBit will send a confirmation link via email, after which the trader will have to input his Google Authentication code to complete the process.

Trading on YoBit

The first steps to take before trading are to create a YoBit account and deposit funds into it. After that, the user can log in to his account and utilise the data he finds to carry out his analysis and execute trades. It is also worth noting that while trading gives investors a good chance of growing their portfolio, it also poses a significant risk. As mentioned earlier, YoBit exchange does not provide advanced trading tools such as indicators, trend lines, stop loss, and take profit. In fact, the trading chart is as basic as they come. Although this helps to enhance the simplicity of the exchange, it also hinders trading performance, as some investors need those tools to remain profitable.

To trade on the platform, the user must switch to the Trade tab. The next step is to fill in the trade parameters, including the amount and execution price. Then, he must click on the Buy or Sell button to execute.

YoBit exchange offers only one order type, and it will be discussed below:

Limit Order

This order type helps investors to enter a trade at a particular price, or better. Limit orders are incredibly useful as they play a significant role in helping traders reduce risks and make more profit. Limit orders also come in two forms, which are the buy limit orders and sell limit orders.

An investor can take advantage of the buy limit order to buy a digital asset when it dips or goes below a predetermined price. The trader uses this order type if he believes that the asset's price will increase after the trade is triggered. On the other hand, the sell limit order is used to take a sell trade if he believes that an asset's price will go down after hitting a particular price zone. Here, he will place a sell limit order above the current market price, and when the price hits that level, the trade will be executed.

Other Trading Options

YoBit exchange does offer just one order type; however, it has designed an advanced feature that can help users trade better. This feature is popularly called RoboTrade. Investors can avail themselves of this powerful tool to automate their trades by setting the profit starting, which ranges from 1% to 30%.

Assuming a trader wants to enter a BTC trade with the aim of making a 30% profit, he has to set the rules to match his expectation. Here, the user will also input the buy or sell prices in the data fields provided. Then, he must click on the dropdown button to choose his position type, after which he must finally click on Create Rule to complete the process. As long as the rule remains existent in his account, the exchange will automatically execute trades at the set price. This tool is quite useful when a trader identifies some key price points in the market because he can use it to execute trades even when he is away from his computer.

YoBit Fee Structure

Like every other exchange, YoBit imposes fees on some transactions to ensure the smooth running of the platform. YoBit's fee structure isn’t complex in any way, and rates are low compared to other major exchanges.

Trading Fees

The trading fee on the platform is clear-cut. YoBit charges a fixed rate of 0.2% for both makers and takers. This makes YoBit different from other exchanges since it does not employ the tiered fee structure. In truth, this feature is not favourable for high-volume traders, as they have to pay higher fees when compared to other platforms. On the other hand, the fee structure does favour low-volume traders, since they pay lower fees than beginner traders do on other exchanges.

Deposit and Withdrawal Fees

YoBit exchange does not charge any deposit fees irrespective of the payment channel used. The exchange's various payment channels are PerfectMoney, Payeer, QIWI, Capitalist, Visa, MasterCard, and AdvCash. On the other hand, transaction fees are deducted for every withdrawal made. These fees range from 1% to 9%, depending on the payment channel used.

The table below gives a clear summary of the deposit and withdrawal fees structure on YoBit:

To gain more insight into YoBit’s fee structure, visit the fees page.

Geographies Served

YoBit is a global exchange; therefore, any user can register on the platform regardless of his location as long as the laws in his country permit it. The user must always comply with the local requirements of his or her country of residence. If uncertain, he can contact YoBit’s support team to make inquiries and ascertain if his country of residence permits him to trade on the exchange.

YoBit API Keys

There are API keys integrated on the YoBit exchange to help customers trade seamlessly. The keys offered by YoBit are divided into two categories, including public API and trade API. Public API keys help users to obtain information that does not require direct access to their account data. On the other hand, Trade API is used to create and cancel orders, check account balance, and obtain information from the personal data of a trader’s account.

To create an API key, the user must go to the Profile drop-down menu and click on API Keys. The trader must then select the API functions of his choice in the dropdown menu and click on Create New Keys on the next page. Then, YoBit will send him a confirmation link via email, and he must click on it to activate the API. The exchange will also provide a secret key, which users must keep in a safe place. In the event whereby the user disables the API for any reason, he can still activate it again with the secret key.

YoBit Mobile App

The YoBit exchange does not offer the mobile trading option, making it difficult for traders to execute and monitor trades on the go. However, there is a workaround. Traders can switch their mobile browser to the desktop version and trade from their smartphones. With this, investors can use the platform, as they would have with a computer.

YoBit Security

Security is among the most important factors considered by traders before they register with an exchange. Investors always want to be sure that their funds and personal information do not fall into the wrong hands. Since its inception, the YoBit exchange has never been hacked, and these tools and measures explained below have played significant roles to achieve this feat.

Two-Factor Authentication

Traders can use 2FA as an extra layer of security for their accounts. With this tool in place, hackers can’t access their accounts, even with stolen information. Therefore, whenever a login attempt is made, the user must input a six-digit code generated by his authentication app before that attempt can be authorised.

File Encryption System

This feature is used to encrypt and protect confidential data from hackers with physical access to the server. YoBit uses one of the most advanced versions of this tool to ensure that only authorised personnel can access funds and other sensitive information. The file encryption system operates with transparency and automatically decrypts access to funds or files when an authorised member of YoBit’s team accesses them. In addition to this, the system reapplies the encryption immediately funds or files are saved. Therefore, if a hacker tries to access the server without the correct private keys, he will be locked out.

Cold and Hot Wallets

YoBit uses cold wallets to store digital assets offline. This protects the funds from any unauthorised access through cyber hacks and other vulnerabilities, which affects an online system. The cold wallet system does this by authorising every transaction with private keys in an offline environment. Therefore, if a user initiates an online transaction, it will be transferred to the offline wallet, where it will be digitally confirmed before funds are transferred to the online network.

If a hacker intercepts the transaction, he cannot tamper with the funds because the private keys are separated from the online server. On the other hand, there is a hot wallet system that stores the funds actively used in the exchange. When a user makes a deposit, a percentage of it is sent to the cold wallet, and the rest is kept in the hot wallet. Overall, 90% to 95% of funds are stored in the cold wallets, and the remainder is kept in the hot wallet. Also, the exchange pays out low-volume withdrawals from the hot wallet.

Anti-DDoS System

DDoS attacks are common occurrences in the crypto space, especially for exchanges. YoBit uses the anti-DDoS system to protect targeted networks or servers from DDoS attacks. This tool helps to identify common problems in the network, which could be caused by hijacked web browsers and bots. It does this by evaluating different traffic properties, including cookie variations, IP addresses, JavaScript footprints, and HTTP headers. Once the system identifies any suspected problems, it filters and eliminates them immediately.

Yobi Codes

The exchange allows traders to use this function to create their unique deposit codes. With this code, traders can easily replenish their balance without going through the normal process. To activate Yobi Codes, the trader must go to the Profile drop-down menu and click on YoBit Codes. On the next page, the user must request a code by clicking on the Create New Code button. The exchange will then generate a code for the trader, after which he must finally click on Activate Yobicode to complete the process.

Freeze Withdrawal

This is one of the most important security features on the exchange because it helps a user to lock his funds if there is any suspicious activity on his trading account. YoBit also advises its customers to keep this feature enabled at all times,  and to disable it whenever they wish to initiate a withdrawal.

To activate this feature, the user should go to the Profile dropdown menu and click on Settings. Next, the trader should scroll to the bottom of the page and click on the Freeze Withdrawal button. This tool is incredibly beneficial to investors who buy newly created tokens, which do not have wallets. When a trader wants to withdraw funds, he can simply submit a support ticket and go through some security checks to deactivate this feature.

Token Listing on YoBit

YoBit exchange gives coin developers the opportunity to list their tokens on the platform. The exchange integrated the Add feature on the website solely for that purpose. The token listing process is straightforward. To start the listing process, the developer must fill the form on the website. This form contains seven data fields for inputting the payment Yobicode, token ID, etherscan.io link, token name, ticker, Bitcointalk topic, and additional information. After filling the form, the coin owner must click on Create Request to submit.

The exchange will evaluate all the listing requests submitted within a given period and shortlist the viable projects. YoBit adds these tokens on a competitive basis. Here, developers will bid for a slot, and the highest bidder gets his token listed on the exchange. The platform also allows developers who do not want to go through the bidding process to pay a one-time fee of 2.79 BTC. It takes about one to seven days to list a token after YoBit receives the payment.

YO Token

This is YoBit exchange’s official token. YO is an ERC-20 coin with a limited supply of 17,000 tokens only. The coin currently has a high value and trades above the $800 mark. The exchange also uses the funds generated from listing other tokens to buy back YO from the market. With this, YoBit has maintained the demand for its token, thereby increasing the value for the coin holders.

YoBit Customer Service

Whenever a user encounters a problem, he can simply contact YoBit's customer support team. The exchange currently uses the ticket system, and there is no live chat or hotline available. Every ticket submitted by users is answered within a few hours, and users are always advised to attach any documents that could help the team solve their problems faster. The exchange also has a priority support channel for developers who may want to carry out any maintenance on their token. However, there are fees attached to this. It is also worth noting that the customer service team supports three languages, including English, Russian, and Chinese.

The FAQ section of the exchange has limited information with a haphazard arrangement. This section is an integral part of exchanges, and its absence means that users cannot find answers to little issues on their own. This has sometimes caused the support team's slow response, meaning that there is room for improvement. Other customer service channels on the platform include:

• PM: This is the short form for Personal Message, which traders can use to send direct messages to the support team. The advantage of this system over the regular support ticket is that users can track their messages. To use this feature, the trader must click on the PM option on the navigation bar. The next step is to create a ticket and submit it to the support team.
• Telegram: YoBit also provides round-the-clock support through its Telegram channel. This channel is run by a 10-member team and supports English and Russian languages. The exchange encourages its customers to join the channel to get faster responses. Currently, the channel has over 60,000 members, and the admins can solve practically any problem that arises. However, if the problem is too technical, the admins will contact the exchange to resolve it promptly.
• Chat: The exchange has a chat feature where customers can interact with each other, exchange ideas, and help solve minor issues. YoBit also assigns some members of its team to check the chat box and offer assistance when needed.
• Twitter: YoBit has a massive social media presence on Twitter, and it uses the platform to answer questions and render help to its users.

Regulatory Compliance

Traders on the platform must not undergo the KYC verification, meaning that they can trade anonymously on the exchange. YoBit respects customers’ privacy; therefore, it does not store any data. Also, the exchange does not share users’ personal information or transaction history with third parties or government agencies. The platform claims it upholds the core values of the crypto world, which are anonymity and confidentiality.

YoBit also has a Terms of Service page in which it outlines the various rules to which users must adhere. Traders have to agree to these rules while signing up, giving YoBit the legal right to take action if the user defaults.

YoBit Promotions

In addition to trading, YoBit also offers other moneymaking opportunities on the platform. Users who do not want to trade actively can take advantage of these offerings to earn profits on the exchange. Mentioned below are examples of YoBit’s promotions:

InvestBox

YoBit designed this system to allow traders to invest and grow their portfolio by earning about 0.1 to 7% of their capital daily. Traders can also take advantage of this opportunity by investing their free coins to help developers promote their projects. Therefore, traders who invest here start to earn as the value of the token increases. In addition, YoBit has clearly stated that InvestBox is not a pyramid scheme and payments are from funds generated through commissions earned by the platform. Users can also withdraw their funds at any time without paying commissions to the exchange.

For now, users can only invest in 10 tokens, including YO, Invest, Easy, YOChat, Talk, Mask, Dice, Water, EDC, and Pony. To use this feature, the user should simply enter the amount he wants to invest and click on the Invest button. The exchange also gives investors the privilege to customise their own plans. Traders can do this by clicking on the Create New Plan button at the bottom of the page. Also, the investment plans have various rules that users must abide by, and they are as follows:

• Coin: The type of token to invest in
• Percent: The percentage a user will earn per investment
• Period: This refers to the maturity period and payment interval. It could be daily or weekly.
• MinInvest: The minimum investment amount
• MaxInvest: The maximum amount a user can invest
• Action: The actions required before a user gets paid
• Status: This states whether the plan is active or not

YoPony

The YoPony game allows users to make predictions on pony races. For a user to win money, he has to rightly predict the pony, which will win the race. When the race starts, the total amount of all predictions, number of messages on the chat, pony number, the md5 hash of the previous pony, and the microtime will determine each pony's speed. The winner will get paid from 90% of the funds pooled from the predictions of other users. In a scenario whereby there is more than one winner, the earnings will be calculated with the percentage of the amount staked. To increase the excitement of the game, YoBit also adds 5 BTC to one of the ponies a minute after each race.

Free Coins

YoBit uses free coins to reward its users for spreading the message about the exchange on social media. All the user needs to do is to select his preferred coin and click on Get Free Coins. Next, a modal window will come up for the user to choose the social media platform to make a post. The options available include Facebook, Twitter, and Vkontakte. After posting, the user must paste the link to his post into the search bar and finally click on the Check button for YoBit to verify that he made the post. Traders can also donate coins for other users to redeem.

Roll a Dice

This is the favourite game of YoBit customers, whereby users get a chance to gamble their funds in a double or nothing game. The rules of this game are similar to that of the roulette. Here, the user has to bet by clicking on any of the two buttons provided – more than 52 or less than 48. Then, the gaming algorithm will generate a random number, and if the user wins, the funds will reflect in his account instantly. However, funds will be debited from his account if he loses. The minimum stake for the Roll a Dice game is 0.000001 BTC, and there is no maximum limit. It is also worth noting that the game is unregulated, meaning that there is no guarantee on its fairness.

CryptoTalk

The exchange is in partnership with a cryptocurrency forum, CryptoTalk.org, and users earn rewards by engaging in discussions. The reward for each post made on the forum is 0.00001 BTC, and it is capped at 30 posts per day. To verify the posts on the forum, the user is required to input his CryptoTalk user ID into the CryptoTalk campaign page on the YoBit platform. Then, CryptoTalk moderators will evaluate the post and pay out the reward if the post is eligible. The user can then send the funds to his BTC account on YoBit exchange.

YoBit Referral Program

YoBit has an affiliate program, which it uses to reward users for inviting other people to sign up and trade on the exchange. When an affiliate refers someone to the website, he earns 20% of his invitee’s trading fees as commission, and these funds can be withdrawn at any time. Affiliates can get their referral link by going to the affiliate program page. This can simply be done by going to the Profile drop-down menu and clicking on Affiliate.

Conclusion

YoBit has been operating in the crypto space for over six years, and within this period, it has served the needs of many users. To begin with, YoBit offers a wide array of crypto trading pairs, thereby increasing flexibility for its users. The brains behind the platform have put in every effort to ensure the protection of funds and users’ data. They have also maintained a high level of anonymity on the platform by eliminating the KYC process. On top of that, the exchange supports numerous payment options, making it easy for users to choose the ones that suit them.

Furthermore, YoBit’s customer support consists of a team of professionals; therefore, users' technical issues are solved quickly. The exchange also offers other lucrative options besides trading, thereby increasing the potential earning rate of its users. With the simple and user-friendly interface, beginners can navigate and make and take trades without hassle. YoBit’s token listing process is one of the easiest in the crypto space, and the trading fees are low compared to other exchanges in the cryptocurrency market. YoBit also has a couple of downsides, including the absence of mobile trading and the listing of some non-viable crypto projects. Overall, the platform offers almost everything a crypto investor needs to grow his portfolio.

Cryptocurrency investments are risky due to their highly volatile nature, making it selectively suitable for different investors. To this effect, traders must ensure that they understand the nature, risks, and complexity of every financial position they wish to take. Proper risk and money management must always be practised, and investors should contact a financial advisor to understand their exposure to potential loss before investing.