YoBit Review: Scam or Not - Coindoo
Source: Medium

YoBit Review: Scam or Not

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Oct 21, 2018
9 min reading time
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It’s needless to say that this YoBit Review is talking about one of the most popular trading exchanges worldwide. It is distinguished by the fact that there are a lot of currency pairs that you can play on. Also, many currency pairs appear here much earlier than on other exchanges. The main advantages include the fact that the functionality of the service is not limited to trade alone. Well, regular pleasant bonuses from the exchange to users cannot be debited. All this brings YoBit to the recognized leaders of the global crypto market. We will examine in more detail what is hiding under these beautiful words.

YoBit Review Basic Information

Every trader, for sure, at least once and heard about YoBit. And those who care about the number of trading pairs also actively used the exchange. No joke, here you can find 515 pairs and this number is constantly growing, so the most experienced trader will find something to his liking.

It is known that the domain of the platform yobit.net was registered in Panama in July 2014, and the exchange started operating in January 2015. During its operation, this exchange has never been hacked, which indicates the reliability and stability of the service, as well as great professionalism developers.

Due to the many advantages, including the lack of complex verification during registration, more than five hundred currency pairs, complete anonymity, Yobit users leave only the most positive reviews.

Thanks to this, today YoBit, although it does not lead the TOP in terms of the number of visitors, is nevertheless located near the first positions.

What offers YoBit traders:

  • 515 trading pairs. Among them are rare;
  • The course, which is often significantly higher than that of competitors;
  • You can pay in dollars;
  • In addition to trading, you can play mini-games;
  • There is a chat with a large community;
  • You can become a cryptocurrency investor. 0.01 – 0.03 percent per day;
  • There is an affiliate program. With the replenishment of the referral account, 20% will come to your account;
  • There is two-factor authentication;
  • Only 0.2% commission is charged for each transaction;
  • Supports the most popular payment systems: QIWI, Webmoney, YandexMoney, AdvCash, Payeer, Capitalist, Perfect Money and Visa, and Mastercard.

How to Register on YoBit.net

Working on this cryptocurrency exchange, you can remain a completely anonymous user, and this is not an often provided opportunity. That is, Yobit allows you to fully take advantage of one of the main features of cryptocurrency – impersonality.

One of the features of the platform is the complete lack of verification. Users do not need to confirm their identity, regardless of the payment methods used or the volume of trading. Accounts are not limited in any way. This is one of the reasons for the growing popularity of Yobit.

Then we are met by the standard registration form: login, password, mailbox, checkmark for accepting the license agreement, and captcha. After that, a letter will be sent to your mail, in which you should click on the link to confirm the registration. Without this, it will be possible to enter the service, but almost all functions will be inactive.

To enable two-factor authentication or change other settings, click on the name of your profile, and then select “Settings” in the drop-down list.

To proceed to transactions, click on “Trade”.

Balance Replenishment

In this YoBit Review you’ll find that the exchange accepts three major currencies for calculation:

  • Ruble. In the list, select RUR and put a dot in front of the necessary payment system. The next window is an indication of the account in the payment system, where the check will come, which must be confirmed. QIWI, AdvCash, Payeer;
  • Dollar. No different from the ruble. OkPay, Payeer, AdvCash, Perfect Money;
  • Cryptocurrency. In this case, the system will issue an individual wallet number, which must be replenished. When the money comes to him, your account on the exchange will also be replenished. Many systems: Bitcoin, Lightcoin, Ethereum, etc.

There is already a wider choice:

  • To a mobile phone number – 1%;
  • Capitalist – 5%;
  • Payeer – 2%;
  • Webmoney – 2%;
  • QIWI – 0%;
  • Visa, Mastercard – 70 rubles + 3%;
  • YandexMoney – 2%.

Note that there is one unpleasant feature. Many users complain that money is withdrawn from the exchange for a long time, and in rare cases – extremely long.


YoBit Review Interface

Briefly consider the interface and the main function buttons that will be needed first of all, before moving on to bidding:

  • Trade. Directly a trading platform on which users see all the necessary screens and can conclude transactions; There is also function Investbox. It allows to invest in promising types of cryptocurrencies available in YoBit. Investing brings excellent income to those, who takes this opportunity. 
  • Market – the main tab that you will use most often. Its advantage is that it is here that you can see the history of fluctuations in the rates of all currency pairs. Also here you can see all the available pairs that can be traded;
  • Dice. That is the notorious mini-game. Game of dice. The rules are extremely simple: whoever has the most point’s falls out, he won. Here you can both increase your capital and lose all the money;
  • Free Coins – attraction of unprecedented generosity. Every day, each account can enter here and get free money. Although the amounts are small, in some cases, however, they can be very useful. Note that you can receive bonuses only a week after registration;
  • Balances. Here you can both withdraw money and enter it into the system. Especially convenient is that you can immediately see the interest on withdrawals;
  • Orders. It contains all your active purchases and sales. It is especially convenient in those cases if you do not pip, but play on long-term deals;
  • Story. Here, a complete history of all purchases and sales is preserved with a display of the purchase and sale rates;
  • ICO. Tab for the most risky. New cryptocurrencies are put up for sale here. They have not yet hit the big market. Prices are different, so you can buy the currency that quickly grows in value, or buy cheap stuff that no one will need;
  • CoinsInfo. Displays the capitalization and complexity of all available currencies;
  • AddCoin. Tab for those who issue their currency;
  • Support. Technical support. They respond to tickets relatively quickly;
  • PM. Private messages inside the service.

How to Trade on YoBit.Net

Immediately after you replenish your account, you have a direct road to the Market. Here you can safely analyze the rise and fall of the price of a particular currency. Everything is displayed in the form of cryptocurrency pairs, which only increases the convenience of analysis. Also, the table shows the number of pairs that can be bought or sold at the moment.

You can get to trade directly from here without clicking on the corresponding tab. It is worth noting that when you click on any pair and move to “Trade”, you automatically select the appropriate currency pair, open for purchase or sale.

Further, the process is no different from a million other exchanges that you have met before.

Additional Features

Each user can create own Yobicode. These are small bonuses for new players. If they follow your link, which is issued after the code is generated, they will receive a small bonus. Caution – this bonus will be deducted from your account, so it’s worth playing more carefully. It’s a very effective measure to attract new referrals.

YoPony. Everyone saw screens with galloping horses in large shopping centers. You could bet on any horse and win or lose money. So it is here: you guessed which race pony will come to the finish line first – double your bet. YoPony is a weekly event, the mechanics of game are based on blockchain and exchange keeps history of all games so it’s fully transparent and fair crypto-game.

Affiliate program. Here you can generate referral links. With each referral, or rather, with its replenishment, you will receive 20%. There is a one-level referral system. This means that if your referral invites your people, then you will not get anything from them.

YoBit Customer Support Review

Support responds to tickets in 10 minutes, except in difficult cases, they usually answer in a couple of hours how they will solve the problem. With the help of the Telegramm community https://t.me/yobichaten and an individual channel in English, YoBit users can ask administrators (more than ten employees) a question. The channel also has round-the-clock support, where you can write to a specialist. Any issue is resolved as soon as possible, and in difficult cases, specialists will contact the exchange team to resolve it.

We can safely say that all YoBit customers can count on quick help and professional support.

YoBit Reviews

As you may see that YoBit Reviews on this platform are extremely positive. Users note many advantages in their comments. For example, everyone likes the affiliate program, which brings the user a 20% commission from referrals. Also, everyone is talking about the quick withdrawal of earned funds and a fixed, unchanging commission of 0.2% of any transaction amount.

Positive reviews are available on such respected resources, as Trustpilot and Revain. Also it’s highly rated by Cryptowisser (in top 3 of all exchanges) and also have high rates on Cryptogeek.


Throughout its existence, the exchange has had an approximately equal flow of new users. Therefore, it cannot be said that at some point its popularity increased or fell sharply. This is facilitated by many interesting “goodies” that the service has prepared for users.

Based on this YoBit Review, we definitely recommend this exchange to those who want to earn on crypto currency transactions. It presents about 500 currency pairs with great prospects, as well as those who have already established themselves in the market and bring stable income. The popularity of the resource is growing every day. And this growth is justified by a large number of advantages, among which:

  • Lack of verification;
  • You can add your coins;
  • The ability to invest in new cryptocurrencies;
  • Bonus and affiliate programs;
  • Many popular payment systems are used both for replenishment and for withdrawing funds;
  • Low commission for each trade: 0.2%.
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