Well, although we know that the Yobit exchange is an old big exchange, I will not recommend this exchange to be used. They had many bad issues related to their services, token listings, scam accusation, and also some problems related to the transaction process.
Btw, I thin Laos that Yobit Exchange also has high transaction fees compared to other ordinary exchanges. This may be one of the reasons why I am not using this. I thin that it is better to use other changes that have better reputation and reviews. It is to ensure that our assets are safe and not have bad issues again during the investment. ABout high APY, well, I thin that it is no need to risk our money there even it is high APY because it si also too risky to trust.
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as far as I know Yobit exchange used to be given a bad reputation after scamming a few people.
if you really want to get in there, my advice is that you better read more about Yobit in threads that have existed in this forum before you really become the next victim.
if you really want to get in there, my advice is that you better read more about Yobit in threads that have existed in this forum before you really become the next victim.
I didn't see anyone mention Yobit in a while... From time to time I get some email from them, always with some crazy APY investment, I should definitely unsubscribe!
As others have said, Yobit is a bit shady! They are still in the business, we can wonder how and why, but if you care about your money this exchange should be avoided. For people who like to take risks with "crazy high" APY's and many pump & dump schemes, this is the right place.
There are so many bad reviews about this site and even if they have such an attractive promotions I wont bite because I know its too risky and probably I might lose everything. They are still running for some reason, there are too much hype and manipulation on this exchange don’t fall for that. If you want a smooth exchange experience then better to go for the best option instead of this site. As others have said, Yobit is a bit shady! They are still in the business, we can wonder how and why, but if you care about your money this exchange should be avoided. For people who like to take risks with "crazy high" APY's and many pump & dump schemes, this is the right place.
They seem to be a survivor in the industry.
Apparently they’ve never been hacked?
Native token sits at 500 with the ATH being 3000.
Anyone in the community know more about YoBit? Has anyone done any due diligence on them? Are they trustworthy?
Apparently they’ve never been hacked?
Native token sits at 500 with the ATH being 3000.
Anyone in the community know more about YoBit? Has anyone done any due diligence on them? Are they trustworthy?
They are like the junk yard of cryptocurrencies. They have terrible almost non existent customer support so good luck if you ever have an issue. While yes they have lasted pretty long they are still shady and have tons of bad reviews and rep from people who have used them. I'd steer clear if I were you but that's just me.
Never under any circumstances should you put your money in this exchange. It's not even an exchange, but some kind of combine, which wants to look like an exchange, but it looks more like some kind of casino. There is nothing for a trader to do there, the list of coins available for trading is full of different scams, which are traded only on this exchange, for example, the project FAST DOLLARS. If you want to trade, then choose KuCoin or Huobi, these exchanges are a thousand times more reliable than Yobit.
P.S. This is just my opinion.
P.S. This is just my opinion.
I didn't see anyone mention Yobit in a while... From time to time I get some email from them, always with some crazy APY investment, I should definitely unsubscribe!
As others have said, Yobit is a bit shady! They are still in the business, we can wonder how and why, but if you care about your money this exchange should be avoided. For people who like to take risks with "crazy high" APY's and many pump & dump schemes, this is the right place.
As others have said, Yobit is a bit shady! They are still in the business, we can wonder how and why, but if you care about your money this exchange should be avoided. For people who like to take risks with "crazy high" APY's and many pump & dump schemes, this is the right place.
I know that some people and traders are still using this old and questionable exchange but they still manage to take the risk and receive their money (deposits and withdrawals). I don't know how they survive and keep running their business despite the negative feedback they get from the community. But I see it is all about our discretion. Since we have some idea about YoBit and the high risk of using this, then it's up to us if we use their services or not.
Only one thing I can say to never let stay your coins for long in this exchange...and even to other exchanges.
Only one thing I can say to never let stay your coins for long in this exchange...and even to other exchanges.
YoBit doesn't require KYC and that's why many people still use it despite their negative reputation. They also list a lot of really obscure coins that aren't on other exchanges. I think in most cases using a decentralized exchange seems like a much better option. A DEX might not have native BTC trading pairs but getting WBTC, ETH or BNB is still a lot better than trusting a scam exchange.
I tend to agree with most replies above, we have a lot of threads here against them, a scam accusation, and their shitty activities.
A house of scams and shitcoins that shouldn't trust.
A little bit off-topic but it's related to Yobit.
I've joined a group in my local that used my local wallet (Coins.ph) they said, their account now has been banned and restricted to transact funds because they are receiving crypto that comes from the Yobit exchange. So it's possible that their wallet has been a red flag from other custodial exchanges?
A house of scams and shitcoins that shouldn't trust.
A little bit off-topic but it's related to Yobit.
I've joined a group in my local that used my local wallet (Coins.ph) they said, their account now has been banned and restricted to transact funds because they are receiving crypto that comes from the Yobit exchange. So it's possible that their wallet has been a red flag from other custodial exchanges?
Apparently they’ve never been hacked?
They've never been hacked but are full of shit.Quote
Anyone in the community know more about YoBit? Has anyone done any due diligence on them? Are they trustworthy?
They're very well-known here for being an untrustworthy exchange.
I wouldn't use YoBit. There are so many accusations against this exchange and many of them are certainly true. There are enough other exchanges that can be used and that are more reliable. A thread about Yobit was opened again recently, which shows how badly this exchange works: Yobit not paying out YoFarm Rewards 
This is the exchange which have many shit coins and tokens whenever a coin or token get hype and touch ATH so it always make a fake coin or token with the same name.
And it introduces many new things or project to grab money. Many tokens it introduced which has now zero value.
You are talking the native token of its own. So it is only listed on yobit.
And one more thing is that their website is not mobile friendly.
And it introduces many new things or project to grab money. Many tokens it introduced which has now zero value.
You are talking the native token of its own. So it is only listed on yobit.
And one more thing is that their website is not mobile friendly.
Yeah, almost all of the dumping coins are available on this exchanger. I am not sure but sometime it feels like the exchanger was itself invented to list the shitcoins and make business out of it. However, the exchanger is now in shadows, there is not much buzz about it anywhere. The advertisements and signature campaigns everything gone down the sink.
There was period when this exchanger hosted very long signature campaign and even with the negative reviews they kept it on to prove that they are working just fine and all.
The problem was they used to quickly stop the payments, show reasons as not to verify the users and loot them in the name of kyc and shit. The volume was also manipulated many many times. Without any doubt one should not be using it.
The funny thing about Yobit Exchange is upon all the accusations against them and they still function to this day, I don't know how they keep this up.
Didn't they sell a lot of non-existent tokens to exchange users before? I read those tokens only exist in Yobit and there were no blockchains to verify any information. They probably had other shady activities that gave them more opportunities to collect funds.
YoBit is a exchange which we sell our token which are list there but many people use this exchange but there reviews are that it is a scam exchange and they make alot of collection of coin which are fake coins so its not good exchange and then people can't use this exchange and in the market the exchange position is very bad its not a trustful exchange.
I've used their exchange many times.
My opinion is that if you're gonna exchange small amounts of any listed coin in their exchange and then withdraw fast, it has been okay till now. They are not scammers who steal your things shamelessly (kind of makes them better than FTX, LoL).
But people are right to call them shady. Everything else they're famous of, like their IEOs in the old times, their pump and dump mini (or maybe micro) projects, their farming project, etc, etc has mostly made people lose money. I've heard of occasions in which someone made money there, but people losing money has been a much more frequent outcome.
Be safe.
My opinion is that if you're gonna exchange small amounts of any listed coin in their exchange and then withdraw fast, it has been okay till now. They are not scammers who steal your things shamelessly (kind of makes them better than FTX, LoL).
But people are right to call them shady. Everything else they're famous of, like their IEOs in the old times, their pump and dump mini (or maybe micro) projects, their farming project, etc, etc has mostly made people lose money. I've heard of occasions in which someone made money there, but people losing money has been a much more frequent outcome.
Be safe.
There are a lot of scam accusations against them...
In my personal experience, I don't like the fact that they have listed coins with blocked deposits and withdrawals. This happens with clam coin, users only can buy or sell the coins but they can't depo or withdrawal, which means they have a parallel market with different prices for the real markets.
Sources:
https://yobit.net/en/trade/CLAM/BTC - Price: 0.00001700
https://coinmarketcap.com/currencies/clams/ - Price: 0.00000391
In my personal experience, I don't like the fact that they have listed coins with blocked deposits and withdrawals. This happens with clam coin, users only can buy or sell the coins but they can't depo or withdrawal, which means they have a parallel market with different prices for the real markets.
Sources:
https://yobit.net/en/trade/CLAM/BTC - Price: 0.00001700
https://coinmarketcap.com/currencies/clams/ - Price: 0.00000391
Old members are very familiar with Yobit they are a notorious scammer here in fact if you check the scam accusations they are number one on topics created about them, you've done the right thing asking the community about a platform I hope this information that we provided are enough for you and all the readers of this thread to avoid Yobit.
The funny thing about Yobit Exchange is upon all the accusations against them and they still function to this day, I don't know how they keep this up.
You are lucky for bringing this up on the forum before using the exchange, it would have end up in a very sorry case. Stay away from Yobit Exchange, it's one of the oldest grand daddy of scam exchanges.
You are lucky for bringing this up on the forum before using the exchange, it would have end up in a very sorry case. Stay away from Yobit Exchange, it's one of the oldest grand daddy of scam exchanges.
Be careful using yobit, there is a discussion in the local forum where theoretically users' transactions to a popular local wallet were rejected due to the coin's origin being from yobit exchange. Probably sanctioned because it's a Russian exchange. It could be this bad when your coins can't go through because of the wallets being tagged.
They seem to be a survivor in the industry.
Apparently they’ve never been hacked?
Native token sits at 500 with the ATH being 3000.
Anyone in the community know more about YoBit? Has anyone done any due diligence on them? Are they trustworthy?
Apparently they’ve never been hacked?
Native token sits at 500 with the ATH being 3000.
Anyone in the community know more about YoBit? Has anyone done any due diligence on them? Are they trustworthy?
As others in this thread have already mentioned. YoBit is an exchange that is around for a long time now, which is usually a good thing but at the same time YoBit always had the reputation to be shady or even scammy. They had some weird launchpad sales in the past that did not so well if i remember correctly too. So personally i would not really use YoBit as my primary exchange or use it to keep my funds stored there. Also the token of YoBit really seems to have a pretty high value at the first glance but if you look a little closer then you see that the total supply of it is only 17000, which is extremely low and the trading volume is also very small.
Not an exchange that you might like because of the tokens they offer that will once go high and then be dumped without recovering a cent. They are one of the oldest exchanges though. They use to be very popular even in 2015 because of the campaign they are doing here in the forum but are now disliked because of the shitcoins they create.
One thing that you might like is that they don't force KYC. I still see many users in their exchange chat and if you wanted to know about them, I guess you can chat the users there.
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