Topic: Why do people use bad exchanges like YoBIt? - page 4. (Read 1476 times)
Some small coins list only on small exchange, so people own that coins need to use that exchange. On the other hands, those small exchange have low volumn which attract small whales for fast profit.
I can explain it by the fact that Yobit is suitable for fiat input, there are zero commissions sometimes. As for withdrawals, there are often problems on the technical side of this exchange.
Yes i see many people complained with Yobit, i never use this exchange since i know many people said they has bad reputation, i prefer use others like Binance and Kucoin. Can be many trader use it because this.exchange operated acouple years and many people thinking that legit and trusted exchange. They should make research again to find better exchange and to be more safe in trading activity.
Yobit is not really a bad exchange. It’s just the different thought of everybody. Moreover, users rarely want to use such a bad reputation because most of people have conception that it brings less of guarantee than any others like binance, bittrex or kucoin. People usually avoid using bad reputation exchange, also to reduce the risk of losing. They almost don’t believe in it too much and afraid of using it. This is really normal because when you don’t have faith in something you definitely will not use it.
We cannot just term it to be bad exchange, because it is one among the top preferred exchange for altcoins as more altcoins get listed to yobit than any other exchanges. Something I find bad with them is the investment box which seems profitable, but when calculated precisely it is not that effective.
Have you ever drink with fresh egg on top? People try to experience what services an exchange has to offer or to check how things goes with certain exchange so you can't stop people from trying using this exchange. The next time will decide if they will continue using it or to look and try another.
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?
Could someone explain?
I also have really bad experience with yobit. It's worst exchange that I have ever seen. Answer to your question is that sometime it is mandatory for you to use yobit when you have purchased a crypto currency that is only listed on yobit and that currency have become headache for you and you just want to get rid of that
It is mainly because that some coins are only available on this exchange. Many new Altcoins are added on this exchange due to which people are forced to use Yobit. Yobit also provide some offers like free fork coins which is another factor forcing many investors to use this exchange. In addition to this Yobit has lowest withdraw fees also a healthy trading environment which is great. But according to me we should not use these exchanges much.
I think, people use low quality exchange for some reason.Example many new coin added on this exchange.people think, when a coin added new exchange then they make a good profit.Low quality exchange give some offers like get free fork coin and use simply and lowest withdraw fees.I think, this reason people use low quality exchange.
Looks like something reasonable! Apart from new coins listed in a very low cap and not popular exchanges, they also want to buy the latest coin in its lowest price and new coins can be found in low market cap exchange. The difference is, there is no potential to rise up the coins that can be found in this exchange and sometimes, it is hard to withdraw or deposit funds in exchanges who are not popular. 
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.
Yes i see many people complained with Yobit, i never use this exchange since i know many people said they has bad reputation, i prefer use others like Binance and Kucoin. Can be many trader use it because this.exchange operated acouple years and many people thinking that legit and trusted exchange. They should make research again to find better exchange and to be more safe in trading activity.
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?
Could someone explain?
So far, Yobit is one of the most popular cryptocurrency exchange platforms up to date. I even use it to trade my FAITH to BTC, and it works smoothly. I have no problem using Yobit, as they seem to be quite simple and reliable. Especially when it comes to depositing and withdrawing, the transactions work smoothly. The only thing that I want them to improve is their customer support response time rate. That’s their weakness for now, and they should be doing something about it.
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?
Could someone explain?
So far, Yobit is one of the most popular cryptocurrency exchange platforms up to date. I even use it to trade my FAITH to BTC, and it works smoothly. I have no problem using Yobit, as they seem to be quite simple and reliable. Especially when it comes to depositing and withdrawing, the transactions work smoothly. The only thing that I want them to improve is their customer support response time rate. That’s their weakness for now, and they should be doing something about it.
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?
I use your so called "low-quality exchange"s because from there I find trash coins where people normally pump and dump. I buy cheap tokens and wait for a handsome pump and then sell it for profit. Anyway, I do not store money or bitcoins overnight there, I withdraw them back to my wallet. Could someone explain?
Keep in mind that no matter how trashy an exchange could look like, there is always money to make from it. I use them to sell 808s. ha ha ha!
I also had no issues with Yobit. People are saying its a greedy exchange that list scam coins, but I've used them a couple times and everything was fast and smooth. I don't really care about the owners and their attitude, they can list whatever they like. They aren't forcing anybody to use them, you always have a choice.
As for the reasons for using them, they are fast and not afraid to list coins right after launch or even before it. This at times makes them the only place to trade certain coins.
You would able to say such thing because you havent experience any issues but once you experience delays then you will curse this exchange for sure.They are still operational nowadays and doing the same stuff listing out coins so easily which is really an advantage but rather do have also its disadvantage.Easily listed but also coins can easily be manipulated and we have seen there are lots of shitcoins and deadcoins as well. As for the reasons for using them, they are fast and not afraid to list coins right after launch or even before it. This at times makes them the only place to trade certain coins.
Because of arbitrage it is natural act of buy on low price on yobit exchange and sell on your coin to other exchange like bittrex or i think the pump and dump group signals on Telegram there are usually give buying signals on yobit that's why there's a lot of trader on yobit.
Yobit is the only site used by pump and dump groups as there are many coins only listed in this exchange mainly aimed for pump and dump and many got scammed because of these coins as they hype the coin in the chat and then pump the coin and shows volume and when new users learning to trade usually fall for these scams. 
I also had no issues with Yobit. People are saying its a greedy exchange that list scam coins, but I've used them a couple times and everything was fast and smooth. I don't really care about the owners and their attitude, they can list whatever they like. They aren't forcing anybody to use them, you always have a choice.
As for the reasons for using them, they are fast and not afraid to list coins right after launch or even before it. This at times makes them the only place to trade certain coins.
As for the reasons for using them, they are fast and not afraid to list coins right after launch or even before it. This at times makes them the only place to trade certain coins.
The main reason is that the coin you are looking for is only found in that exchange.
You might be thinking wrong. I mean, beginners want to use high quality exchanges that are much easier to use, because everybody is afraid of losing his money when he starts. One other reason is lower quality exchanges an ideal choice for to using illegal purpose.
I think they use bad exchanges like yobit because they are new and they think its good to start with this type of exchange and have a mind they are doing good,
You might be thinking wrong. I mean, beginners want to use high quality exchanges that are much easier to use, because everybody is afraid of losing his money when he starts. One other reason is lower quality exchanges an ideal choice for to using illegal purpose.
Some enterprising developer might have selected Yobit as their exchange platform of choice. Other sites might be asking for big amount of money for their coin or token to be listed in their site. Yobits asking price for the coin to be listed might be low compared to Bittrex, Binance. If its exclusively listed there, then no choice but to use their platform.
Because there are many coins with a small capitalization. There is a chance that the coin you bought there will grow 10 times in just a couple of hours. So this makes sense.
I guess the major reason will be that some coins are only on these exchanges, common people may not know but exchanges ask a hefty amount to get your coin listed on them so smaller coins or those who dont wanna pay that will get into these exchanges.
Jump to: