Review on YoBit by Ayu Anggraini
Facts that you probably don't know about Yobit
Yobit exchange is not a scam site. Maybe you have often heard of binance, bittrex, huobi, which are popular. Have you ever heard of Yobit? Although the yobit is less well known than other exchanges, but among crypto currency traders yobit is known as an exchange which frequently adds new and other rarer altcoins that are not available on other exchanges, offer high volatility and a great chance to make profits. at the time of writing this review, Yobit already has up to 8575 Active pairs! Yobit is located in Russia and has commenced operations in 2015. What I like about Yobit, I often find coins that have high volatility here. I can easily double my money in this exchange. However, trading with less-known digital assets in Yobit oftenly has a high risk because these assets may not have another exchange to trade them other than Yobit. Yobit often does not provide a detailed explanation of the technical issues experienced by the user. Example the wallet issue such as withdrawal and deposit issue. This exchange has received a lot negative reviews and has a bad reputation online. Lots of project coins have been abandoned by the developer, but Yobit still activates the trading pair of particular coin even though the volume of the coin has touched zero . This means it is very dangerous and contains a high risk for traders if they buy coins like this. And if you look at the order book in some particular coins, there are so many holders who can't sell their coins because of the absence of buyers. The holders will eventually lose their hard earned money on particular coins from buying and holding a supply from a scammy projects that has stopped developing.
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Pros
- It is still safe to use this exchange
Cons
- It is not reliable exchange in the long run
- Has received a lot of Negative reviews from online user across the internet
