Why do people use bad exchanges like YoBIt? - page 3.

iram1011

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Quote from: squatz1 on March 13, 2018, 01:21:16 AM

What's the reason for using a low-quality exchange like yobit? There are so many other exchanges that allow for no verification (like binance) that I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.

Could someone explain?

YoBit isn't particularly classified as a bad exchange. I don't know what makes you think that it is bad. Is it the UI? Is it the slow transfer time? YoBit experiences such high volumes so obviously there is something good about it and hence a lot of people stick to it. A lot of people find UI of trading websites confusing and usually prefer to stick to one.

Quote

I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.

Not every coin is listed on every exchange out there. For instance, if someone wants to trade Byteball, that person wouldn't be able to trade it through Binance, and Bittrex is the only reputed exchange where it is listed.
Hence, people would move to Bittrex. In the same way, there are so many coins which are only listed on YoBit and not elsewhere, and hence people have no choice but to use YoBit.

BLAST2MARS

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I still find it reliable even though I don't use it anymore. It was good back in the days and used by pump and dumpers to push the shitcoins there up but now taxations and regulations existed, the people behind those groups must have been discouraged by that.

Leonard2016

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Well you can find some of the altcoins and tokens only on yobit(most of them are shitcoins) also if you have joined to some bounty or airdrop that it gives you some coins or tokens that you can find them only on yobit where else would you go to change them?!
Yeah it is not as good as binance but binance doesn't have many of altcoins or tokens , some of them are good like byteball that you can find it on bittrex or Upbit but still not on binance!

enawati

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Before decide to put money in exchange, first i have to make research and review about quality, reputation and security of that exchange. And yobit is does not have good reputation because many their member make complain about their service. Can be some trader use it because the coin only tradeable in that exchange, and some trader use it only to trade pump dump coin.

poplolnman

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Quote from: YED on May 20, 2018, 03:42:19 PM

It's not related about the quality of exchanges (good or bad) because some new coin are listed in Yobit only that's why people use it .

Yeah you are risking your money on a well known crap exchange service , that's okay if you use Small amount of money only , the money that you can afford to lose , it's more to gambling for me.
I personally never trade there since got a withdrawal problem that takes to several months , crazy isn't it? Ther are the worst. Won't recommend it at all.

hamade

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a lot of people use them , becuase they can not use another exchange like bittrex that need KYC verfication and bittrex ban some countries from use it
and also some coins exist in Yobit and Not exist in good exchange

CryptOliver

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The first exchange that i knew was yobit, maybe it makes me familiar with that exchange. I knew that yobit has low quality because oftenly yobit enlisted shitcoin (deadcoin). I think yobit is the most easy exchanger to be accessed because the feature not to much as like bittrex etc. But people flavour are different guy, let's scream out to attract them on better exchange.

ajeef

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Some of them have no idea that others exchanges exist, some of them only find specific coin they want to buy on this exchange, some of them are paid to buy ther so they can create volume and so on...

Mahanton

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Quote from: squatz1 on March 13, 2018, 01:21:16 AM

What's the reason for using a low-quality exchange like yobit? There are so many other exchanges that allow for no verification (like binance) that I don't think there's a real straightforward reason to use yobit. I don't see them even having any good qualities.

Could someone explain?

Easy listing of new coins, Fast release or listing of forked coins which is mostly the main reason why do people still keep on using this exchange where there are really coins in the market which isnt listed on any popular exchange site but only on yobit itself and people wont really have the choice but to risk out on transferring those tokens in the exchange even they know on how bad yobit is when it comes to their service.Once you experienced issues then it would takes time for it to be resolved.

YED

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It's not related about the quality of exchanges (good or bad) because some new coin are listed in Yobit only that's why people use it .

Fasunathan

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Quote from: stefany101 on May 19, 2018, 08:18:28 PM

People or specifically crypto traders are usually using bad exchanges because there tokens/coins are listed on those exchanges or maybe they want to have a lower transaction fees but they don't think the security and safeness of the funds in their exchanges accounts. Base on my experiences as a trader also, these crypto exchanges are having poor security and can be easily pished by hackers or scammers. That's why we always aware to choose a good exchanges where we can assure the safety of our accounts.

Even other people trade though that yobit exchanges has the bad reputation from experienced trader, it doesn't mean it will hinder new traders to come before them. Even how good the exchangers you choose to, you're not safe when those phisers attack you. The most safe think to do is your pc system was installed with trusted antivirus security. With that you'll be able to prevent any unsafe activities which linked you to access those phising sites while on trading transactions.

stefany101

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People or specifically crypto traders are usually using bad exchanges because there tokens/coins are listed on those exchanges or maybe they want to have a lower transaction fees but they don't think the security and safeness of the funds in their exchanges accounts. Base on my experiences as a trader also, these crypto exchanges are having poor security and can be easily pished by hackers or scammers. That's why we always aware to choose a good exchanges where we can assure the safety of our accounts.

nieninja53

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I think they are using these exchanges because they have some coins that are only available at these type of exchanges and they wants to sell it so that is why they like to join these exchanges to sell their coins,

BTCITA187

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Yobit is a worst exchange on market I think. If it is not an urgent need and you have choice don't trade there. Scammers like this exchange. A lot of pumps happens there. This is favorite exchange for pump groups. Scam projects need Yobit because they don't want that their ICO looking as a direct scam and they prefer to "trade" their tokens there. It's like it's ok guys we're not a scam our token available on Yobit... But some tokens have 200 $ volume and 10 000 of ICO participants. If some ICO listing their token on Yobit - this is definately scam (in some way) .
Of almost forgot they don't even think support. I wrote a lot of messages but there are still no responding.

godfredmanu

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I wanted to trade my tokens and it was surprised that such a reputable project could enlist on bad exchange like YObit. I wanted to dump the tokens because it was a shit coin. I had no option than to use the exchange. But I was cautious of sending any sensitive information to that exchange. I think if anyone find himself with no alternative, the best to do, is to use a different pc or laptop to access the exchange and trade without devouring your real data and self to them.

buwaytress

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Quote from: AK47- on May 04, 2018, 04:37:35 AM

YoBit is not really as bad compared to some other exchanges. I have traded on some really shitty exchanges and I had to do it because those coins were not listed elsewhere. The main motive of these exchanges is to list as many coins as possible so that they make maximum profits out of the commissions. Their shitty user experience doesn't really bother them because they know that users are helpless and have no other place to go. So unless you have a coin which is exclusively listed on YoBit, you do not really have a reason to visit them.

Well. My honest response. They have a reputation which is as crappy as others, but really only when it comes to support. I started out on a slew of tiny exchanges with dodgy reputations... tradesatoshi, Yobit were two of them. Mostly because I tested out the altcoin waters in 2016 and these were really the only platforms that had them. I ended up managing to sell quite a bit and left my Bitcoin balance on Yobit as it was perhaps 0.1 BTC (at the time not even a hundred dollars.

And then when BTC touched 1k, I suddenly had over $100 there. Played around with those exotic alts, made modest profits. Sold some for some major alts, withdrew. Then Yobit happened to be one of the first (the very first, if I recall) to credit BTC balances with BCH, BTG and a whole lot of other Bitcoin forks. Sold everything, ended up with a really decent amount of coin. Withdrew, never looked back.

All these things worked without a hitch. I'd probably never return, but can't say my experience was shitty.

bering

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yobit is not the best exchange even more likely can consider as bad exchange but i was never figure out why people still use them or maybe some people consider use yobit exchange for trading is more good rather than other exchange however sometimes at yobit there was altcoin can be pumped rapidly so might be people still use that exchange because they consider it's profitable

javadevm8

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just happens to be an exchange that is easy to get onto so people can only get certain coins on there.

financialgoal

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Probably because Yobit tends to add everything and anything so if you can't find a coin anywhere it is bound to be on Yobit, it hasn't got the best reputation but it is still here and has been going for a few years now.

Quidat

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Quote from: ?? on ??

I know yobit is not good exchanger att all.but nowadays I only use it for getting fork coin.yobit gives me an advantage and the advantage is Yobit support all of the fork coin.so its helpful to use yobit during the fork.so why till now using yobit exchanger.

When it comes to upcoming forked coins this exchange is very fast on listing it which is an advantage but when it comes to overall performance of this exchange then this would really be on mediocre ones. Terrible supports and shady bots who do pump and dump such altcoins being listed. Might good if you are really pro on riding with those waves where you can really make money but if not then 100% you loss up money.

Topic: Why do people use bad exchanges like YoBIt? - page 3. (Read 1476 times)