Topic: Why do people use bad exchanges like YoBIt? - page 7. (Read 1501 times)
I think the main reason is coin or token they want to trade only listed on bad exchanges like Yobit. LOL. But I don't know why there are a lot of topics report about Yobit but I've traded on Yobit for long times but everything still fine with me. But I also agree that Yobit is the tomb of so many altcoins cause you only trade on Yobit cause they disable both deposit and withdraw for these coins
shady markets when you can trade a lot of unknown coins and exchange generally pums and dumps
I think there are some alt coins only available on YoBit
Yeah, that's definitely part of it. If you're looking for the shittiest of coins, you'll find 'em on Yobit--and there are tons of people in this world who love investing in altcoins that go for 1 satoshi. They think of it as buying a cheap lottery ticket, where if the coin eventually gets pumped, they'll win big. But most of the garbage that's sold on Yobit has no market whatsoever. All you see are sell orders, and that's all there will ever be. In addition, Yobit hasn't yet turned out to be a complete scam exchange. You can actually get some trading done there with few problems--I've done it. On the other hand, I'm totally done using them, since I don't trade anymore and I don't really trust them.
Mostly because there are some altcoins , you can't find in any other place , specially if you have joined to some ICO and you got plenty of that token that can only sell them on Yobit!
YoBIt exchange is convenient, but dangerous. Many people are attracted by the input from convenient payment systems of personal funds with minimal commissions. On YoBIt there are a huge selection of coins for trade, convenient ways to withdraw funds. People are ready to take certain risks, but at the same time spend less (because there are low commissions on this exchange) than to pay extra and secure themselves. A lot of people live on the principle of "maybe, nothing will happen." That's why they use such unreliable resources.
Most people don't think that far that an exchange could hustle them either that or there is a certain coin that only trades there. That is the only real reason I can see for going to a bad exchange, but even then I would avoid that exchange because of that. I personally know that Yobit ran an old chain for 6mo+ and knowingly didn't take it down after multiple support issues. If your website knows you are running and old chain yet still takes the profit from that and gives users old coins then I am sorry but your site is a piece of crap 
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There are many reasons why many people use Yobit. Yobit has been in the market from quite a few years and it has developed over the years. Although it is still a shitty site, it has attracted many users from throughout the world. It offers a wide variety of features such as dice, investbox, yobitcodes etc...
Apart from that it also gives free coins from the forks which not many other exchanges gives. It has supported almost every fork that has ever happened till date. So even though it is a shitty exchange, people still use it because of the features it provides.
Apart from that it also gives free coins from the forks which not many other exchanges gives. It has supported almost every fork that has ever happened till date. So even though it is a shitty exchange, people still use it because of the features it provides.
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.
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I think your opinion is true. Trading are about circulation money in large limit, we should aware about this finding legit exchange's.-snip-
But the problem's is not all legit exchanges has many coins/token available. YoBIT has offer many coin that be available for trading on there, in addition with a group behind the exchanges that running fake activities to make volume transaction increasing. In the end they will going to scamming their member.
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.
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,
Exactly. Apart the avalibility of some listed coins; this was actually my initial thought too. Those scammer who scam people from bad exchanges knows themselves and do their trading in groups. Don't be surprised if it later verified that it one person opening different accounts to trade to him/herself. Though, I still hear few good review about Yobit but I don't think most people can trust it again. If you are tired of bad exchanges maybe it is time to start using this,
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Decentralized trading? Use BISQ. https://bisq.network/
I still believe in Yobit though. They are still one of the reliable exchanges up to date. They've added YOLO Coin recently, and we will see how it goes. If they want to bring back their reputation and trust, they should do something that could make traders happy in their platform.
I know they had made mistakes, but not all exchanges are perfect anyway. Yobit is still a well-known exchange, so I might give them a chance to improve their services.
I know they had made mistakes, but not all exchanges are perfect anyway. Yobit is still a well-known exchange, so I might give them a chance to improve their services.
A lot of people are just lazy and use whatever they find first. I've always thought that Yobit was a shady exchange, read quite a few horror stories about them.
As far as I know they do offer some coins exclusively, but I think that says more about the coins in question than about the quality of the exchange.
I wonder if exchanges like Yobit can even continue to exist in the future, the competition is always getting better.
As far as I know they do offer some coins exclusively, but I think that says more about the coins in question than about the quality of the exchange.
I wonder if exchanges like Yobit can even continue to exist in the future, the competition is always getting better.
there are reasons for this. firstly those exchange that you may refer to bad exchange have many altcoin than big exchange like binance. in fact, it is even easier for a coin to get listed on yobit than binance. secondly, some large exchanges like bittrex and binance limit the number of registered users. I don't think bittrex is accepting new users and we all know that late last year binance also remove the registered button from their platform but I think they are accepting new users now
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 am not sure if the yobit is bad exchanger or should we call it like that way or not. But for me this exchanger is worth using because of its low volume. The low volume gives out less value to the coin and we can buy with lesser value than other market. This gives me window to trade on different exchanger and this is why I use the yobit. It's all about the trading anyway and if it is profitable then who cares whether the exchanger is good or bad. Also though the name of yobit is taken in negative way it doesn't mean that it's really bad one unless and until you experience it that way.
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?
One of the main reasons is pump,isn`t it?)Newbies look on huge %, they don`t know about shitcoins,so they decide to trade on this exchange looking forward to become reach with these pumps:)Could someone explain?
Yobit is really bad idea for normal trading or investing in long term, quite big fees and problems with withdrawals too
Few years ago YoBit was very popular among users here on forum since they have signature campaign and they pay more or less regularly.I was part of that SC and they allow to user have referral link in signature so I have hundreds of referrals.Even today some of them are active and I still get 20% of their trades.I've never had a problem with YoBit,but I see many users report them as scam these days.Only problem for me is very high withdraw fee for BTC withdraws(120 000 satoshi),which is really too much nowadays.
Reason for people still use YoBit is for several reasons :
-Old habits die hard.
-Some coins only available there.
-People simply do not know that there is something better.
-YoBit is using Google Adds/Some users just click on first link.
Reason for people still use YoBit is for several reasons :
-Old habits die hard.
-Some coins only available there.
-People simply do not know that there is something better.
-YoBit is using Google Adds/Some users just click on first link.
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?
It's because the coin who they hold for a while is listed only on that exchange and that would be the simpliest explanation on why people keep trading on that yoshit exchange eventhough it is know for their bad repuation here. But let's put all what we have on single shot so that if our token deposits and withdrawal will compromised we will not get a huge stress on our side.
People stick to what they know. There may also be many users who've had nothing but an exemplary experience there. We only hear from the people who've been raped.
Yobit seems to specialise in trading fork futures you can't find anywhere else. There's a ridiculous amount to be made in some of them. Folks follow the money.
Yobit seems to specialise in trading fork futures you can't find anywhere else. There's a ridiculous amount to be made in some of them. Folks follow the money.
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.
Hmm, I guess that's a fair one to use. As only a bad exchange, like yobit, is going to have the lower reputable coins that are going to be more likely scams. Makes sense.
Kinda sad though, wish that YoBit wasn't around though, they seem to plague the newbies with their 'exchange' which is just a waste of time in my opinon. But I guess they have a place.
Good for me,, I don’t try bad reputable exchanges.. This once been a well-known exchange in the forum but after some problems it degraded and die.. It was not well-manage and turn all in messed.. Gonna be careful with using such exchanges if you value your investments,, fees is reasonable when security is necessary..
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