Yobit is a Russian crypto exchange having a unique tool exclusively for its users. This exchange is seen with alleging controversies relating scams. These alleged scams are still ongoing, and the Russian authorities is handling its investigation.
However, these allegations as per the exchange officials are simply untrue and the blame diversion was seen to another exchange EdinarCoin. Yobit came into existence in 2014 and has been functional since, with a couple of downtimes due to various reasons. The exchange listing has more than 7000 pairs to trade.
However, the design of the exchange is convenient and thoughtful. They offer low exchange fee and commission on deposit and withdrawal. Yobit provides crypto trading tools to the customers like investBox, Coinsifo, and AddToken.
How Does it Work?
Registration isn’t a hassle on this platform. Registration is available on the top right corner of the page.
The user just needs to fill out the details and set passwords.
After clicking on the captcha for additional security you should agree to the terms and conditions of the exchange. Soon after registering on the website, the user will receive a confirmation email.
However, Yobit will recommend the installation of 2FA, for additional security.
To deposit, go to Wallets page. You can browse through the currencies by using the scroll bar or the search bar. Choose the currency you want to deposit and click the “+” button. Withdrawing funds from Yobit is same as depositing, go to Wallets page and choose a currency to withdraw by clicking on minus “-” button.
Input the withdrawal address (must be from a third party wallet or exchange) and the amount you want to withdraw. However, the withdrawal fee will not change and is available as per the transactions.
Click “Withdrawal request” button and follow the instructions for the verification process. Withdrawal will not process until you complete the verification via Google Authenticator and/or Email confirmation.
The fee on the exchange depends on the platform user use. Refer the link to know in detail about the fees. Even though the reviews on most review platforms are harsh. Some claim that the coins and tokens were taken. However, the exchange maintains a huge data of users still active and using the exchange for trades.
You can also check out this video on Yobit tutorial:
You can check out some more details here:
- Yobit: https://yobit.net/
- Twitter: @YobitExchange
- CoinMarketCap: https://coinmarketcap.com/exchanges/yobit/
Image Credit- Imgur