YObit.net Review – Is it Reliable?

YObit.net is a crypto exchange that has been around for a considerable amount of time.

They have seen many booms and busts and are constantly upgrading themselves to keep the users happy.

If you visit their platform, the number of assets present will definitely capture your attention.

Plus, to get started with them, you do not have to complete any form of KYC.

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In other words, regardless of your geographical location, you can open an account with them.

Trading interface is decent, but they do not offer margin trading.

YObit.net has certain demerits, but at the end of the day, it all comes to your personal preference and goals.

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    In case you are wondering, know that user reviews about them are bad for the most part and the number of complaints against them appear to be growing.

    To know whether they are a good fit for you, continue reading the following paragraphs wherein we have covered all the important factors about this exchange. 

    YObit.net Review

    History and Background

    This exchange was founded by European developers and crypto enthusiasts.

    Unlike many other exchanges, this one gives utmost importance to the anonymity factor and allows people to get started with crypto markets without submitting any KYC documents.

    As they have got considerable domain age and authority, many people prefer to stick with them.

    Even on niche related forums like Bitcointalk.com, we can find information about them.

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    The anonymity factor might spook few people.

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    However, the crypto enthusiasts that really appreciate the decentralized exchange will have nothing but good things to say about the infrastructure. 

    YObit.net Trading Interface

    We took a close look at the YObit.net trading interface.

    Unfortunately, the existing software and charting tools appear to be outdated.

    Of course, you get the basic tools, but most competitors are miles ahead in this aspect.

    Order types and the way the data is communicated might appear overwhelming to the new users and it does take some time to get used to the layout.

    Number of assets available at your disposal are plenty.

    Also, you can pretty much keep tabs on all the important aspects of the latest coins and promotional activities right from the home page.

    All in all, it does need improvement but the current state of the platform isn’t particularly a deal breaker. 

    Customer Support

    If you are facing any issues on the exchange, you should raise a ticket.

    One can get in touch with the customer support via email and telegram.

    We do not know the average duration required by them to get in touch with you as it depends upon the method of contact.

    For Telegram mode, one can expect to get a reply from them within 10 minutes to 30 minutes.

    Lack of dedicated telephone support might be a huge concern for many people.

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    As they are able to keep themselves afloat for all these years, we do think it is better to give them a pass in the customer support aspect. 

    Assets and Fees

    There are over 8000 trading pairs available on this exchange.

    Regardless of which crypto coin you like, there is a pretty good chance that you will find them on this portal.

    Additionally, the airdrop information is also present.

    Due to lack of margin trading, short term traders would never proceed with them.

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    However, for the long term investors and traders, this exchange will be the perfect fit.

    Fees present on the platform are reasonable and the exact numbers are as follows.

    • Taker Fee – 0.20% per trader
    • Maker Fee – 0.20% per trade

    Deposit and Withdrawals

    Payment methods supported by YObit.net are plenty.

    Cryptocurrency funding would be the ideal option for many people as it carries competitive rates.

    They also support debit cards, e-wallets and other payment options.

    Do note that the withdrawal fees are high and depending upon the method you choose, it can go upto or above 7% which is a lot.

    So, talk to the support team before pulling the trigger or you might lose a significant amount of money in the name of fees and charges. 

    YObit.net User Reviews

    Thanks to the domain age of YObit.net, finding reviews about them was a walk in the park.

    They have got terrible ratings in the recent past and the number of complaints made by the users appear to be expanding.

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    Take a look at what people have to say about them.

    Do you still want to roll the dice with them?

    Isn’t it better to start small and test them out before depositing a substantial amount of money? (Source – Trustpilot)

    They are really scammers – i lost my e-mail, but still have 2FA authentication, and try to contact with support many times – cause i have all needed information about my account, but they don’t ever answer me. Have the same problems with another crypto-sites – haven’t any problems, everywhere i can restore my account.

    I have send 0,5 ETH 3 years ago to yobit and they never arrived. Even with all proof of Traces and Blockchain Codes. I never got an answer. I Opened more than one ticket and never received help. Also they will scam you with mails, that you can’t unsubsrcibe from!

    Is YObit SCAM or Reliable?

    YObit.net appears to be an exchange that offers decent service.

    They have seen both the winters and summers in the crypto realm.

    In other words, they are not something we can categorize as shady.

    However, user YObit reviews are way too negative to take the leap of faith with them.

    As the consensus and social proof is giving us mixed signals, it is better to be careful.

    YObit.net Review Conclusion

    There are tons of reputable crypto exchanges.

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    Before choosing any particular platform, always do your own research and test them out before investing huge capital.

    If you want to proceed with YObit.net, follow the suggestions discussed above and let your personal experience dictate the final stance that you need to take. 

    Update (November 26, 2022) – One of our partners just received the following complaint from a person who said they lost $13,000 with YOBot:

    a person I had been talking to for a few weeks wanted to show me a way to make a lot of money. she told me about an app called “YObit” I put 13k of my own money in after making a small profit beforehand. eventually the profits exceeded 230k. but when I decided to take some money out for personal use my account was locked until I pay 44k in “taxes” to some random crypto address.

    Share your thoughts by commenting below this YObit review. 

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