YObit - an anonymous cryptocurrency exchange
Cryptocurrency exchange YObit is one of the most popular and, at the same time, the most controversial trading platforms in the ru-segment. The functionality of the exchange, its possibilities and features are interesting enough to consider them in details.
- Basic information about the YObit exchange
- Registration
- Depositing and withdrawing currencies
- Verifying your account
- How to trade on the YObit exchange
- Value-added services
- Account Security
- Advantages and disadvantages of YObit
Basic information about the YObit exchange
- Official website of the exchange: yobit.net
- Place of registration of the exchange: unknown
- Date of registration: unknown
- Site Language: English, Chinese, Russian
- Assets for trade: 584
Registration on the exchange
It is immediately striking that when you click on the link, you are not taken to the welcome page, as it is done in the most cryptoexchanges, and to the home page. To register, press the "Register" button, which is located in the upper right corner of the screen.
After filling in the registration data, consisting of login and e-mail, you must confirm the e-mail, after which you can log in to the exchange site.
On the main page you can find the traders' chat, which is convenient for getting acquainted with the exchange and solving urgent questions.
Deposit and withdrawal of currencies. Fees
To deposit or withdraw funds, you need to go to the "Balances" tab. You can make money transactions on YObit in cryptocurrencies and fiat money.
In order to top up your balance, you need to click "+" against the currency in which we want to do it. If they are cryptocurrencies, the system itself will generate a wallet, to which you need to transfer funds to replenish the balance.
When depositing in dollars or rubles, the system will offer a list of payment systems that can be used to deposit money into your account.
To withdraw funds, respectively, you need to click "-" opposite the currency that you will withdraw. The amount of commissions on YObit for deposit and withdrawal are indicated next to each payment system.
YObit exchange without account verification
Account verification is probably one of the factors that make YObit cryptocurrency exchange popular. There is no verification here from the word "at all". That is, the data that you filled in during registration will be absolutely enough for financial transactions.
How to trade on YObit
The trading process on the YObit cryptocurrency exchange is almost no different from other exchanges.
To trade cryptocurrencies, you need to go to the "Trade" tab. Let's conditionally divide the website page into separate blocks for easy description.
Block #1 - it displays the balance of your funds.
Block #2 is a window where you can select the currency to trade.
Block №3 - chart of the selected currency pair. The schedule is, frankly, so-so. There are 5 time intervals available: 12 hours, 24 hours, 7 days, month and 6 months. In addition, there is an opportunity to put on the chart displaying already open orders.
No analytical tools like technical indicatorsThe cryptocurrency exchange YObit does not provide. If they were, it would be unlikely to make any sane analysis on a chart of this size.
Block #4 - order window. In this window, you can form orders to buy or sell the selected cryptocurrency pair. You can open a trade order either at the current price or at the price you set, that is, you can form a pending order.
There is no leverage or orders like "Fill or Kill" on the YObit exchange.
Please note that the exchange charges a commission of 0.2% when making a sell or buy transaction.
Block #5 is the "order book", which displays all the pending orders on the exchange. This window allows you to select the best orders to buy or sell the desired cryptocurrency.
Block #6 is a window displaying the history of transactions on the selected asset on the exchange.
Additional services of YObit crypto exchange
Another factor that made YObit crypto exchange popular is the availability of additional services. They can be accessed from the main page of the exchange's website.
The "Market" tab
This tab, which provides an overview of the market, allows you to find out the information you are interested in all the pairs that are traded on the exchange.
Investbox" tab
The next tab "Investbox" is designed for passive income.
With the help of this service, everyone has the opportunity to invest the funds at his disposal for profit. There are a lot of investment plans, and everyone can find something suitable if they want to.
According to the description, this service is not a pyramid or HYIP, all payments go to a special fund. Investments can be terminated at any time.
LIZA digital tokens
Most recently, YObit crypto exchange has released LIZA digital tokens specifically for investment. By buying these tokens, one can take part in an investment project that promises profits of 10% per day for 2-3 years. It reminds one very profitable but short-lived Russian company whose name consisted of three letters.
The price of the LIZA token is not constant. At release, the value of LIZA was designated as 1 LIZA = 100 BTC. Please note that only five Dice games played on the day can participate in the investment.
The Dice tab is a money game. You choose the size of the bet, put money from your account and press one of the two buttons.
FreeCoins
The "FreeCoins" tab is nothing more than a variant of a bitcoin crane.
The crane works. As you can see, we received 0.00000001 BTC to our account from the crane.
The next service is in the "ICO" tab. Here you can see projects of new cryptocurrencies that are planning to enter the exchange, and invest in them.
A link to its description and discussion of the project on the forum is opposite each project.
AddCoin
The "AddCoin" tab is for adding new cryptocurrencies.
Security of YObit cryptocurrency account
You can set up the security of your account on the YObit cryptocurrency exchange in the profile tab. Two-factor authorization, API keys and other are used for this purpose.
Advantages and disadvantages of YObit cryptocurrency exchange
Benefits
- Russian localization of the exchanger site;
- The ability to recharge in Russian rubles;
- High liquidity;
- Large selection of cryptocurrency pairs;
- Investment opportunity;
- Low commission for the transactions.
Disadvantages
- Not the most comfortable interface exchanger;
- Inability to use charts for analysis;
- It is not clear in whose regulation area the exchange is located. There is also no data on its registration. You send your money to an anonymous recipient at your own risk. If the exchange announces its closure or closes without an announcement, your money will not be returned to you;
- The investment opportunity is only available after five games in DICE;
- Huge percentages of profit on some investment projects (up to 10% per day) make them similar to the financial pyramids of the 90s.
- Quite a significant number of negative reviews on forums devoted to cryptocurrencies.