Yobit is an internet alternate buying and selling platform designed to assist the buying and selling of cryptocurrencies. The Yobit platform enables the buying and selling of as many as 497 cryptocurrencies and tokens (consistent with Coinmarketcap) and 8,575 energetic pairings. The alternate additionally maintains to supply investors and buyers with anonymity.
Yobit Platform Attributes
Key attributes of the Yobit platform consist of:
- Traditional buying and selling capabilities consist of charts and candlesticks for the to be had forex pairings.
- A user-pleasant interface.
- 24/7 – Customer guide – 24 hours consistent with day guide is to be had on Telegram, with a ticketing guide mechanism to be had on the “Support” interface.
- Supports deposits in cryptocurrency and fiat cash with the aid of using manner of AdvCash, a debit card, Payeer, and Perfect Money.
- Supports the withdrawal of cryptocurrencies and fiat cash with the aid of using manner of AdvCash, a debit card, Payeer, and Perfect Money.
- Multi-lingual – Supports Chinese, English, and Russian. Tech chat guide is to be had in Arabic, Chinese, English, German, and Russian.
- A widespread Telegram community of greater than 80,000 members.
- Affiliate application – Yobit will pay 20% of change commissions for each change that referrals make. There is an associate application web page that may be positioned inside your account call drop-down menu.
- Fast and clean registration process. Yobit stands out from its competitors because of the extensive coverage of cryptocurrency pairings, simple-to-use interface, and anonymity.
Its global support is another key feature that removes geographical boundaries and delivers the crypto market to a global audience.
The Pros and Cons
Pros
- Anonymity: There aren’t any KYC / AML approaches to complete, permitting buyers and buyers to stay anonymous.
- Execution Speed: Yobit specializes in platform performance, making the sure velocity of execution to limit slippage.
- Full transparency: The network’s exchange records is made to be had at the Yobit platform. The information consist of transaction time, the cryptocurrency pairing traded, and transaction type.
- Competitively low fees: Yobit costs a flat 0.2%.
- Crypto Coverage: Yobit helps the list of cryptocurrencies and altcoins from their early existence. This presents buyers and buyers who get admission to cash/tokens in the early post-release phase.
- Exchange Storage: Most newly released cash/tokens are but to have like-minded wallets. Yobit lets in buyers and buyers to maintain cash at the exchange.
- Fast registration: There had been no KYC or AML requirements, making the registration manner rapid and easy.
- 24/7 Customer Support: Available in Arabic, Chinese, English, German, and Russian through Telegram. Other positives consist of
- Free Coins: Users are capable of earning loose cash through the “Free Coin” interface. • Adequate Security: Yobit presents the essential safety features to defend crypto holdings at the exchange. A unique “Freeze Withdrawal” alternative is likewise to be had to save you theft. • Global Platform: A really international platform with an in-depth consumer base gives you a green buying and selling environment. Yobit has certainly been considered one of the most important Telegram communities, with greater than 80,000 in English chat. Cons
- Yobitis regulated in Panama and there are no KYC requirements. This is a negative for those looking for a more regulated trading environment.
- There is a lack of risk management tools to support the more technical trader/investor.
- Public information about the Yobit team is limited.
- Training manuals to assist users in navigation are limited, though the platform is simple to use.
- There is a limited social media presence, with Yobit only available on Twitter and Telegram.
- Yobit is not compatible with Android and IOS mobile devices.
Post Registration Deposit
At this stage, you will now need to make a deposit to begin trading, investing, and taking advantage of Yobit’s extensive crypto market coverage.
To make a deposit, go to the “Wallets” page and select the wallet that you wish to deposit into. There is a search option to enable you to find the crypto/fiat currency deposit that you wish to make.
For demonstrative purposes, USD has been chosen. Type USD in the Search section and click the plus sign under the ‘Deposit’ option for the USD Wallet.
Supported Cryptocurrencies
Yobit has one of the most extensive coverages of cryptocurrencies in the marketplace today. This also gives investors and traders a more comprehensive list of cryptocurrencies to make a deposit with.
These include but are not limited to Bitcoin (“BTC”), Tether (“USDT), Ethereum (“ETH”), Litecoin (“LTC”), DASH (“DASH”), DOGE (“DOGE”), and YO Token (“Yo”).
With Yobit providing a comprehensive catalog of cryptocurrencies for trading and investing, there are also a total of 8,576 active parings to select from.
These can be located within the “Market” section of the Yobit platform.
Balances and Trading History
There is no shortage of detailed information for investors and traders to monitor personal activity across the platform.
On the left-hand side of each interface, Yobit users are provided with their balances in Bitcoin equivalent. These are broken down by cryptocurrencies, such as DASH, USDT, and Ethereum.
On the trade page, investors and traders are also provided with a breakdown of all trades made on the platform. These are by pairing and you will need to select the pairing to then receive the relevant trading history.
On the Wallets page, users are able to select click the “H” icon to see the history of deposits and withdrawals to and from a specific wallet.
