Why do people use bad exchanges like YoBIt? - page 6.

Mahanton

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Quote from: tiggytomb on March 15, 2018, 01:49:18 PM

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?

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.

If you do have to trade on Yobit keep it quick and small just in case.

Precise reason why do people do still keep on using this shitty exchange. There are coins which are only being listed on here which as an investor or bounty earners you wont really have any choice but to take the risk just to sell out your tokens.Even though you are aware on their shitty reputation you would still pursue or proceed just for the sake of profit taking and as being suggested just try out small amounts first and dont send tokens on bulks just to try out if their wallets is working.

Sowik

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I have literally never used YoBit and never will! With decentralized exchanges coming up hopefully YoBit and such other exchanges will die off.

redsun114

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Quote from: Wind_FURY on March 13, 2018, 01:42:55 AM

OP, it is a trick called "priming the pot". The scammers behind an exchange trade with each other or hire market makers to make the appearance that some activity is going on, encouraging all of us to make a deposit and trade there.

If you are tired of bad exchanges maybe it is time to start using this,

Quote

Decentralized trading? Use BISQ. https://bisq.network/

I have tried this and it is still a bit complex to use though, but for those that love privacy over complexity, then it is a go. Only if the community can increase, this is really going to fly a lot.

It is really a good idea having an open source P2P exchange as that has always been the main idea in the first place anyway until we ended up missing it with centralized exchanges, but really so far, I have had no problem using bisq as long as you get used to it.

zeaderza

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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?

I have tried to wrap my head around this and I still always get confused. Is it not crazy how people will just go crazy with the idea of getting verified and will not mind losing their funds to a shitty exchange.

Despite the fact that people keep complaining about Yobit, HitBTC and the likes, a lot of people still go ahead using them anyway and telling you that they do not have any problem so far. As in really? So until they have a problem?

Osarman

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Quote from: Rj Manik on March 13, 2018, 01:38:48 AM

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.

The problem is that a lot of the reputable exchanges demand for a lot before you can get listed on them and that sometimes frustrate some projects. However, any serious project will prefer getting listed on a reputable exchange than listing on a shitty exchange where most of the other shitcoins are present.

For some reasons with forks anyway, it seems they have never disappointed. So, I guess that has been their marketing strategy to keep whooping people's fund.

rawafe

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YoBit, in my honest opinion is a good exchange. It has some advantages like competitive Fees and the fiat currencies are accepted.
On the other hand it has some disadvantage like the credit card aren´t supported.

Arngrim

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Well I'd rather use Yobit than using HitBtc which is really a gigantic one when it comes to thievery.

There could be a reason behind using Yobit.
1. They could be used to it.
2. The ICO they joined can only be traded to Yobit.
3. Loyal people.

But this exchange wont answer support anymore. I dont think it is a good thing to stay there anymore.

tiggytomb

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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?

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.

If you do have to trade on Yobit keep it quick and small just in case.

homhay

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I think because maybe they have their coin that just list in Yobit. Bad or not it's depend on costumers. I think Yobit also potential exchange thought they have some problem. Lower fee, hight price for some coin also make people decide to use Yobit.

Indrawan77

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Yobit is one pf the oldest exchanges despite all of the negative news, a lot of people still used yobit for trading, and I have been using yobit for quite sometimes and never got problem with the deposit and withdrawal, many people like to used yobit because it got a lot of alt coins that can't be found in other exchanges and yobit is also one of the exchanges where actively adopt fork coin

wayancrypto

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In my opinion because Yobit operated since acouple year ago, and many trader does not have any problem with deposit, withdrawal and trading processing. And yobit also continue to promote their platform by offer referral bonus.

jerry0

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what coins does yobit specficially have that they cannot get anywhere else?

Dreamchaser21

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Quote from: peterthegreat on March 13, 2018, 12:24:38 PM

Bigger exchanges like Binance only list established and bigger coins while exchanges like YoBit list smaller coins which you wont find anywhere else. Also not everyone knows about all the exchanges and they might only know about YoBit.

People might curious to use this coins basically their ICO token are listed only on this exchanges but for me its risky to use small exchanges like this. Better to settle into some big exchanges that is already here for years, though its not perfect but still better compare to Yobit.

lombok

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Although you say yobit is a low quality market, but many people benefit and certain moments are issued yobit so as to provide great benefits.

rhodelmabanal

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I don't think people doesn't care in a very high charge as long as it is legit. If you tend to use YoBit it isn't a bad idea because you can't force people to use HitBTC or Binance because we think that their tokens aren't available in other trading sites that's simple. I am currently monitoring Blockfolio coins but my token is a available in FoxDelta.

royalfestus

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Quote from: omonuyak on March 14, 2018, 04:43:04 PM

Many new coins and tokens are always be listed at yobit before others popular exchangers and that is the major reason why many people trade at yobit and to me any place I can actually do my business I don't mind as far I get good services and my coins are save. Yobit as a business is also there to satisfied its customers.

This label of bad exchange is affecting trade on the exchange. The exchange list most shit coin with barely no volume, pump them and make money from ignorant investors/ new investors. the exchange may get on ICO soon like every other exchanges lately to raise fund to promote and expand the exchange

omonuyak

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Many new coins and tokens are always be listed at yobit before others popular exchangers and that is the major reason why many people trade at yobit and to me any place I can actually do my business I don't mind as far I get good services and my coins are save. Yobit as a business is also there to satisfied its customers.

anobtc

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Because it has some coins that no exchange listed, and with a low-volume exchange, small sharks or whale play pump and dump. You know, some peoples like an exchange with many trash coins, they have more options when trading. And i'm still using Yobit, to sell token or coin i earned

rockie87

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There are few reasons for this
1) Lack of knowledge and information
2)Due to price volatility
3)FUDs and fake news regarding the trust with exchanges.
4) The last one is less option of exchanges which posses every coin in it.
These are the issues,that community needs to solve to avoid this kind of problems.

Kevin77

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Quote from: bingble on March 13, 2018, 01:37:13 AM

I think there are some alt coins only available on YoBit, or the price of some coins, or the fees are lower than other exchanges.

But for my opinion, we should not use these exchanges if not necessary.

No, let me correct that. There are some shitcoins good for pump and dump that is available on Yobit and apparently not available on any reputable exchange. I guess a lot of newbie traders like the idea of pump and dump, so I am not surprised and they would not mind bag holding a shit coin in a shit exchange. it is just crazy that as much as we keep saying this, a lot of people still take the whole thing unserious and when they have problem they keep running to the forum to complain. Serves them right.

Topic: Why do people use bad exchanges like YoBIt? - page 6. (Read 1476 times)