Review on YoBit by Olugbenga Ajayi
Yobit exchange is an exchange with excellent track record
Yobit exchange is a multicurrency exchange with many positive features and excellent track records. For more than 6 years of operation, this exchange was never hacked despite the fact that it does not require KYC for registration. Although it has a 'freeze withdrawal option' to protect users funds against theft.
Although as a result of not using KYC, users from highly regulated countries like US, Japan etc may not be able to patronize them, it is worth mentioning that they enjoy patronage from many countries in many continents across the globe.
The exchange offers several trading pairs. As at July 2019, it was having up to 8,379 pairs on its Platform. That is huge. Traders can always have a rewarding pair to trade.
The exchange accepts both wire transfer and credit card for deposit and charges low fee on withdrawal when compared with other exchanges.
Yobit exchange was founded by some cryptocurrency enthusiast and experienced developers in 2014.
Updated 4 years ago
Rating changed from 4 to 3
Yobit exchange is a well regulated exchange that offers basic and advanced analytical tools which includes regular and custom indicators. The interface is easy to use for both newbies and advanced traders. Also the website is multilingual supporting Russian, Chinese, English, German and others.
Yobit provides a large number of trading pairs numbering into 8,756. These includes both cryptocurrencies and altcoins. Furthermore, there are regular promotions that help to keep investors and traders glued to their Platform.
Pros
- It provides an on-platform wallet compatible with different cryptocurrencies to facilitate easy transfer from traders/investors wallets
- Yobit has excellent track records in terms of security. For more than six years of operation, it has not been hacked
- It is widely adopted globally
- Registration procedure is easy. No KYC required.
- It is a multicurrency exchange that also support several altcoins giving traders multiple pairs option
- There is regular update on its Platform. It also provide a telegram platform for users to exchange views and trading strategies
- It charges flat fee on both buying and selling of currency pairs
- Traders annonymity is guaranteed
Cons
- Traders from highly regulated countries may not be able to use the exchange due to its lack of KYC adoption
