Review on YoBit by francis fernandez
YoBit
Within the crypto industry YoBit is a small exchange house of average renown currently within that giant crypto asset market.
To start enjoying the services offered by YoBit; Users must first "register", entering username, email and password. Once a confirmation email has been received, the platform is ready to be used.
The particular characteristics of this platform are the following:
- YoBit only supports the use of crypt currencies. Therefore, the funds must be stored in a digital wallet offered by this platform.
- Making deposits is very simple. It consists of accessing the option "Wallets" in the main menu; Click on the + button on the list to display the list of crypto currencies, and thus the address and the QR will be displayed quickly.
- It requires fees for making withdrawals of 0.0005 BTC, one of the lowest in the market.
YoBit is an exchange platform that despite offering useful products for its users; there are some gaps in relation to the security, support and reliability it offers.
Pros
- It allows creating virtual wallets with a unique address for each user.
- Does not require the payment of fees or commissions for the deposit of coins. This is subject to the particular provisions of each crypt currency.
- It requires a minimum amount to open or close a transaction.
- The platform offers a simple menu to perform crypt currency deposit operations.
- Allows you to trade in 6 recognized markets, such as: Bitcoin, Ethereum, Doge, Waves, USD and RUR.
- Their rates are the lowest in the market, in terms of withdrawal operations
Cons
- The main disadvantage of this platform is that it does not require a verification system to access its products; therefore, the Exchange developers suggest users to use the two-step verification system to improve the security of funds.
- Yobit only accepts crypt currencies as a means of payment; that is why it does not allow you to purchase digital currencies using FIAT currencies such as the dollar and the euro.
- It does not add commissions for storage of funds.
- It does not have a reliable support in terms of security and technology.
