Topic: Thoughts on YoBit? - page 2. (Read 755 times)
Not really a bad experience but the reputation of this exchanger is not good, the customer service is not really active, but to be honest I never had a problem with this site, I have used this site for more than a year and it is okay, yobit got a lot of alt coin to trade, so if you like to trade various coins then yobit is the right place but if you trade more famous coin I suggest go to bittrex
Has anyone ever had a bad experience with yobit?
Would you recommend using its online wallet?
Would you recommend using its online wallet?
Not worth the risk at all. They have notoriously poor customer support. Their wallets are always in maintenance mode and the maintenance never seems to end, so basically at any given time, your money could be essentially frozen in yobit with no way out.
Anyways, everything that yobit offers can be done with a better exchange like bittrex.
Unless you want to trade shitcoins, then don't use yobit. And even if you trade shitcoins i wouldn't recommend storing the coins on yobit itself. Store it in your actual wallet.
Heard Bittrex is better and easier for a beginners that just wants to test the market without all the ID verification etc. I could be wrong though
Many people have problems with Bitcoin. The way they lay their site out is also dodgy. They shadey but trading there works well and I trade there often. They have both support basically bit everything does work just no support. They shadey because they have the dice gambling buttons purposely places just under the troll box in case you accidentally gamble. I hate that about them. They have no confirmatioma either. I'd you click buy or sell that's it, it doesn't ask you to even confirm so be very very careful trading there.
I disagree with this statement. It's absolutely not a good idea if the exchange isn't paying you interest. But if the exchange is paying you interest, compensating you for the risk you're taking in allowing the exchange to "hold your private keys" it makes the use of exchanges more acceptable.
Exchanges are no different from fiat based banks. When you put your money in a bank you don't own that money, it's not sitting in a safe for you, you own a promise from the bank to pay you back. Nearly everyone in the world is perfectly comfortable leaving their hard earned savings in a bank...but when it comes to a bitcoin exchange everyone reverses their opinion.
I'm surprised more exchanges don't pay interest for our risk. It's because we haven't demanded that they do. If we all took our bitcoin off exchanges the exchanges would start paying interest.
YoBit is ok. I think the interest they pay is too high, which is an indicator that it's not sustainable.
Yobit don't pay interest anymore so I don't know what you on about. It is sustainable since it stopped. Also you now have to gamble 5x each day to gain interest on doge or ltc waves or eth. That's how they make their money back.
Doesn't matter if it's YoBit, Bittrex, Bitfinex, Poloniex, or whatever, it's not a good idea to store your bitcoins on exchanges.
I disagree with this statement. It's absolutely not a good idea if the exchange isn't paying you interest. But if the exchange is paying you interest, compensating you for the risk you're taking in allowing the exchange to "hold your private keys" it makes the use of exchanges more acceptable.
Exchanges are no different from fiat based banks. When you put your money in a bank you don't own that money, it's not sitting in a safe for you, you own a promise from the bank to pay you back. Nearly everyone in the world is perfectly comfortable leaving their hard earned savings in a bank...but when it comes to a bitcoin exchange everyone reverses their opinion.
I'm surprised more exchanges don't pay interest for our risk. It's because we haven't demanded that they do. If we all took our bitcoin off exchanges the exchanges would start paying interest.
YoBit is ok. I think the interest they pay is too high, which is an indicator that it's not sustainable.
Yobit don't pay interest anymore so I don't know what you on about. It is sustainable since it stopped. Also you now have to gamble 5x each day to gain interest on doge or ltc waves or eth. That's how they make their money back.
Doesn't matter if it's YoBit, Bittrex, Bitfinex, Poloniex, or whatever, it's not a good idea to store your bitcoins on exchanges.
I disagree with this statement. It's absolutely not a good idea if the exchange isn't paying you interest. But if the exchange is paying you interest, compensating you for the risk you're taking in allowing the exchange to "hold your private keys" it makes the use of exchanges more acceptable.
Exchanges are no different from fiat based banks. When you put your money in a bank you don't own that money, it's not sitting in a safe for you, you own a promise from the bank to pay you back. Nearly everyone in the world is perfectly comfortable leaving their hard earned savings in a bank...but when it comes to a bitcoin exchange everyone reverses their opinion.
I'm surprised more exchanges don't pay interest for our risk. It's because we haven't demanded that they do. If we all took our bitcoin off exchanges the exchanges would start paying interest.
YoBit is ok. I think the interest they pay is too high, which is an indicator that it's not sustainable.
Doesn't matter if it's YoBit, Bittrex, Bitfinex, Poloniex, or whatever, it's not a good idea to store your bitcoins on exchanges. Download your own wallet. Exchanges gets problems and vulnerabilities frequently. Big exchanges have been hacked in the past, you don't want to be a part of those stolen bitcoin don't you?
Some sources:
https://en.wikipedia.org/wiki/Bitfinex_hack
https://www.wired.com/2014/03/bitcoin-exchange/
https://electrum.org/ | Electrum is the wallet that I usually suggest to people. I suggest that you use it too.
Some sources:
https://en.wikipedia.org/wiki/Bitfinex_hack
https://www.wired.com/2014/03/bitcoin-exchange/
https://electrum.org/ | Electrum is the wallet that I usually suggest to people. I suggest that you use it too.
Hell no. Yobit is the shadiest exchange you can think off that is operating at a "high" level. I don't even recommend you using them as an exchange, imagine using it as a web wallet.
- Support for tons of scam and dead coins.
- Nonexistent support.
- Shady "investbox" that looks like a ponzi scheme.
- Tons of reports about having funds stolen/deposits never arriving.
- Allowing the trade of IOU tokens that don't even exist yet.
If there is an exchange you must avoid, it's Yobit.
- Support for tons of scam and dead coins.
- Nonexistent support.
- Shady "investbox" that looks like a ponzi scheme.
- Tons of reports about having funds stolen/deposits never arriving.
- Allowing the trade of IOU tokens that don't even exist yet.
If there is an exchange you must avoid, it's Yobit.
had a bad experience on yobit ?
of course,a lot of people had a lot of problem doing a trade on yobit.it's because they are doing a shady activity in their website.
for example,
when you trying to send a coin but your coin never arrive to your account and you write a ticket for them,
they will ignore you not even reply to your ticket.
other than that they will never make an announcement for a maintenance wallets or something like that.
if you're not meticulous enough and send it to the maintenance wallet,i am 100% sure that your coins will be gone forever.
even though you will use the same address.
i don't really recommend an online wallet,
because you will see a lot of phising email lately,and if you are not lucky enough they will get your information and rob it all
of course,a lot of people had a lot of problem doing a trade on yobit.it's because they are doing a shady activity in their website.
for example,
when you trying to send a coin but your coin never arrive to your account and you write a ticket for them,
they will ignore you not even reply to your ticket.
other than that they will never make an announcement for a maintenance wallets or something like that.
if you're not meticulous enough and send it to the maintenance wallet,i am 100% sure that your coins will be gone forever.
even though you will use the same address.
i don't really recommend an online wallet,
because you will see a lot of phising email lately,and if you are not lucky enough they will get your information and rob it all
Has anyone ever had a bad experience with yobit?
Would you recommend using its online wallet?
Would you recommend using its online wallet?
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