Bot for cryptocurrency on the YObit exchange and other platforms

YoBit is a digital asset trading platform that has been around since 2014. The Russian exchange is represented in many different areas of trading and has more than 6,000 currency pairs. It is a complex organization that handles cryptocurrency transactions as well as government-issued currencies.

The company provides versions for different audiences, from Russian to Chinese. It positions itself as a simple and convenient platform for traders of all types around the world, and also has standard fees and a significant user base.

But how does the company treat traders who want to use robots to make money on the machine and profit in the long term? What are the best trading bots for Yobit today? Let's find out.

My first encounter with Yoba

It was spring 2017. I just signed up for the late BTC-E (currently wex.nz) and Yobit.net. I did this in order to arbitrage between exchanges. In those days, I didn’t understand anything at all about trading, I looked at order books, charts, numbers and saw emptiness. Apart from the popular coins BTC, ETH, LTC, DASH, I did not perceive any other alts, considered them some kind of self-made crap and did not understand why they were even invented. I was terrified of trading and placing any orders. But I was good at calculating how much I would buy a coin for on one exchange and how much I would sell it for on another. In those days, for arbitrage I used fiat and a fully verified Qiwi wallet, which removed all restrictions on the number and amount of transfers per day. In those days, a couple of million rubles could pass through your wallet in a day, but the profit was 2-10k rubles. This is the whole point of arbitration.

Hairy admin Yobit security service once froze my account and asked for a lot of screenshots of transactions on my Qiwi wallet, from which I made deposits over the past 10 days. The support worked quite quickly and the account was unfrozen. I exhaled. First impressions of the exchange were positive. At that time, there was a rumor that due to a bug in the software, the exchange lost quite a bit on transactions with Qiwi. Well, very often, scammers use Qiwi to cash out, and wallets freeze. This is not great for the exchange. Nowadays, such problems are unheard of.

Let's deal with all aspects in order.

Pros of use

Free time. Doing everything yourself, on “hot” days a trader may not get up from his computer for 15 hours, which is very tiring. Here his hands are freed, all that remains is to observe the work of the program.

Coverage and speed. It is simply not possible for a person to simultaneously monitor several dozen exchanges and enter into transactions on them, especially when every minute is decisive.

Strategies . An important advantage for beginners is that you can trust a robot developed by professionals, and not get burned by your own mistakes.

Inerrancy . A person may make inaccuracies, click on the wrong page, or accidentally enter the wrong number. Robot - no. He will always act strictly according to the given parameters.

Lack of emotions. The bot doesn’t know the feeling of being nervous and rushing from one extreme to another, trying to catch the most profitable rate, but as a result you lose money.

Yoba's media presence

https://yobit.net/?bonus=LOtpk - official website of the exchange (automatic trading or signal robots will be available only for those registered using my referral)

https://yobit.io - official mirror

https://twitter.com/YobitExchange - official Twitter of the exchange

https://coinmarketcap.com/exchanges/yobit/ — CoinMarketCap

https://bitcointalk.org/index.php?topic=914975.0 - topic on BitcoinTalk

There is a lot of information about the stock exchange on the Internet, more negative than positive. But it’s easier for people to hate what they don’t understand or are unable to curb. Next, I will tell you more about this.

Is it safe to use bots on YoBit?

These services are safe if configured correctly and have limited access to various functions. For example, secure solutions will not have access to withdraw or transfer funds from the exchange balance. They will only have the opportunity to make trade transactions, so there is no risk that even if there is a data leak, the funds will be debited from the account.

Trading bots will have control of the account, but the robots should still only do what is expected of them.

Always use additional security measures such as 2FA.

Trading and Arbitrage Opportunities

Yobit is a medium-sized exchange by my standards. On top coins, the volumes are not huge, but sufficient for an ordinary trader. If we consider the opportunities for earning money, then on such exchanges they are even wider than on large exchanges. Many coins have a large spread, I'm talking about the difference between the purchase and sale prices. This gives you an excellent chance to trade within the spread, although you will have to wait until your orders are digested.

The commission is normal - 0.2% on purchases and sales.

A couple of months ago, in addition to trading pairs with the dollar, ruble and bitcoin, trading pairs with ETH\DOGE\WAVES . This provides additional great opportunities for intra-exchange arbitrage.

A few words about arbitration. For arbitrage, this is an exchange with increased danger. I constantly had and continue to have problems with the input/output of non-top coins. And yes, it is precisely because of this point that “balls of steel” are mentioned in the title of the article. You will need them if you decide to get serious about this.

Here are the basic rules for arbitrage on Yobit from a veteran:

1. If the coin is unfamiliar, first of all go here https://yobit.net/en/coinsinfo/ and look at its full name and link to bitcointalk. There are plenty of coins in Yoba whose abbreviations do not correspond to reality. For example, OMG (OMGame on Yoba and OmiseGO on other exchanges) If you make such a transfer, the money will not arrive and you will simply lose it.
2. Check whether wallets work on both exchanges. Many yoba coins often bear the inscription “Technical Works”. But even if there is no inscription, this does not guarantee that the wallet works (!). A trading strategy was even invented based on non-working wallets.
3. Always make a transaction for the minimum amount first, even if the commission is steep. If a transaction appears on another exchange, you can make a second main transaction. Yes, you may not be able to quickly sell the coin at a good price, but you greatly reduce your risks. I've come across something like this a dozen (!) times. Even if you transferred this coin yesterday, this does not mean that today will be the same. All the same, the first should be a small transa.
4. Developers often update their wallets, but are in no hurry to send updates to their wallet to exchange support. Because of this, technical work often happens and funds do not arrive, etc. Usually, you have to write to support and wait 2-7 days, if you’re lucky. And the problem is solved.
5. ZEC and XEM(NEM) - they always cause hemorrhoids, no matter how good the interest rates are, ignore these coins. Maybe later everything will get better with them, but for now it’s all gray hair. Many people disparage XEM because, due to their stupidity, they forget to indicate the Memo inscription when transferring and the coin does not arrive. However, this is not the only problem.
6. Transferring to Yobit is quick, but withdrawing from Yobit takes a long time. This is not a panacea, but large exchanges usually require a lot of confirmations, and not all coins are fast.

I use similar rules for arbitrage with all exchanges. When working on a stream, such a systematic approach is necessary, otherwise disadvantages are inevitable. While doing arbitrage, I got frustrated many times and gave up, but I managed to curb this area and I have accumulated records on many coins and areas, which indicate how long the coin takes, what nuances there are, etc.

What investments are required to start automated trading?

A great question to ask when starting your automated trading journey on YoBit. This question allows you to think about your goals and aspirations. Of course, it all depends on your situation.

You always need to start with a small part of the total capital. If you plan on long-term use of the platform, we recommend depositing a slightly larger portion of the funds.

Taking the right steps will help you earn small percentages of profit every day and achieve success on a regular basis. The idea is to go slow at first, gain experience, learn more about the process and strategies, and then allocate more funds to scale profits.

There are other factors that you should consider when continuing to trade automatically. The main one is commissions, which increase in total due to the large number of transactions. The more orders you place, the more often and the higher the trading commission you pay. But if trading is profitable, then you can deduct it from your earnings and not from your initial capital.

Also think about other aspects that can stop progress and destroy your initial capital. The process of trading with bots is quite long, and if you have plans to finish trading by a certain day, then there is a possibility of unjustified expectations.

Commissions for input/output of crypto and fiat

When I first started, depositing rubles through Qiwi was 0% , and this allowed for good arbitrage. From time to time, I/O fees change.

There is even a local sign of yoba:

If the Qiwi withdrawal is 0%, this means the cue ball will grow!

There is some dependence in this. The exchange has a fiat reserve. When a lot of people withdraw funds, the commission is increased for withdrawal and reduced for input. When a lot of people deposit funds, the commission for depositing is increased and the commission for withdrawal is reduced. Now, it feels like this is some kind of random process. But such balancing is necessary.

Here are the current fees for depositing and withdrawing rubles (01/10/2018).

I usually use withdrawals to Qiwi and a bank card - I’ve never had any problems with this, the funds have always arrived within 1-2 minutes. In chat, users often complain that their transfers are not received. This was not entirely clear to me until one of my friends, making a deposit for the first time, put money not on the qiwi exchange, but on the balance of her mobile phone. Someone puts pluses in front of seven, ignoring the example of entering a number that is right in front of their eyes. A lot of shit is poured onto the stock exchange, including due to ordinary human stupidity.

Are there free bots for trading on YoBit?

Some bot services offer free support for the YoBit exchange: usually these are open source programs that you need to install on your computer. Reliable cloud services often have free subscription versions, which can later become paid. Terms of use vary depending on the specific service.

Trial periods are great because they allow you to try out the product and service for a few days. After the free subscription expires, you can already decide on further extension of the work. If buying a bot is not part of your plans, then pay attention to open source software. However, be prepared for a lack of support, a poor interface and connection to the operation of your personal PC.

Yobit, forks, artificial coins and the genius of yobadmins

My subjective opinion is that the Yobit administration is a kind of mad hatters who are ready to fit into any crowd. Their bikini-clad woman in the official Twitter header, and the ease with which they add and draw new coins, gives a sense of some courage and unstoppability.

A few words about Bitcoin and their addition to the exchange. The whole world was looking forward to the first fork - Bitcoin Cash . Previously, such events had not happened and people did not know how to react, but nevertheless, they madly bought cue ball to get free coins. Yobit has awarded all cue ball holders a new fork. I think that at that moment or a little later, the yobadmins understood how it works. And, most importantly, they realized that it is not necessary to wait for the next hard fork to draw coins to users and begin the trading process.

A little more about the system for creating artificial coins:

1. You are an exchange and you give each user a coin that costs nothing.
2. At the opening of trading, both glasses are empty.
3. The awarded free coin is an excellent advertisement for each of the thousands of users. Of course, everyone will see it on the market and go to the auction to dump it and get free bitcoins.
4. Other market participants immediately see an opportunity to make good money and buy cheap coins. The exchange doesn’t even have to spend a penny for the avalanche-like trading process to start.
5. Don’t forget that the exchange receives its percentage from EVERY transaction.
6. The funny thing is that an artificial coin like LIZA does not even have wallets, it is not traded anywhere else, it cannot be withdrawn - this is pure speculation.
7. You can look at the graphs at the daily trading turnovers that exist on such coins and cut off 0.2% from them - the profit of the exchange.
8. In order for the coin to be bought even more actively and for the turnover to be constantly huge, an absolutely brilliant thing called InvestBox comes to the rescue, where you can receive 10% per day without doing anything. Yes, the rate is falling faster than 10% per day, but who cares. And since the coin cannot be withdrawn, admins can easily and for free print these coins and use them for real bitcoins of users. I have thought many times about how exchange administrators can print free candy wrappers and quietly put them into circulation. This scheme is implemented perfectly in Yoba, I really admire such resourcefulness.
9. This is how money is made out of thin air with zero costs. No ICOs or coins backed by technology are needed, freebies and greed will do all the work. Yobit admins are geniuses. I'm not being sarcastic.

Advantages and disadvantages of the Yubit cryptocurrency exchange

Among the strengths of the exchange are:

• a wide range of coins and trading pairs;
• Russian version of the site;
• simple interface;
• additional ways to protect clients;
• lack of identity verification;
• low commission for trading;
• availability of a referral program;
• communication between users.

Among the weaknesses are:

• lack of legal information and data about developers;
• “dead” tokens among the rest of the assortment;
• the possibility of account blocking by operators without explaining the reason;
• periodic delays in the withdrawal of assets;
• lack of margin trading;
• negative feedback about feedback.

There's even DICE on Yoba

Yobit has a simple dice - this is a game where you bet on the over or under. If you win, you get x2 profit. There are actually two dice. One is a dice trap under the chat, which you can accidentally click on, and a substantial amount in cue balls will immediately be displayed there, and if you press it carelessly, you will most likely lose a good amount. Many people don’t see that there is another dice in the menu above, where you can play with any coin. I marked the correct dice and dice trap on the screen.

I don’t recommend it if you don’t know how to work with dice correctly and your passion is stronger than your logic and consistency. A small detail, before - you had to guess numbers less than 49 and more than 51. Even in this situation, the casino is always in the black. And now, the casino advantage is even higher (48 and 52). I assure you that with such mathematics, you don’t even need to tighten the barrel organ, the stock exchange will always be in the black. One day, I will write an article on this topic, it is very important for understanding the mechanisms of such games and the harsh realities of zero mathematical expectation.

Faucet (Free Coins) - free coins

If you remember, a year or two ago, Bitcoin faucets were very popular, where you pass a captcha and a couple of sats are credited to your wallet. In those days, I wrote bots for them using iMacros+Javascript . On Yobit, there is something similar, although they are awarded mostly shit coins, which are of little interest to anyone. But, for advertising new coins, this is a good way. Personally, I have never used it, they give very little. However, you can get free coins and immediately put them into dice)

It looks like this:

Do I need to download software to use bots on YoBit?

In most cases, you don't need to download special software to use advanced automation tools. More and more people prefer cloud bot platforms that run on a third-party server without the need for installation on their home computer. All you have to do is connect to your bots through a browser or mobile application.

In addition, a huge number of people travel or are away from home and want to access their settings from anywhere in the world, so cloud services are much more practical.

Working InvestBox(0.1%-10% per day)

The bottom line is that you buy coins for, as a rule, a fairly large minimum amount and every day you receive 0.1-10% depending on the coin and tariff plan. Sounds like an investor's dream. This is an excellent tool for advertising new coins, as it makes you want to purchase a coin and receive a profit every day. There are also nuances: if the percentage is large, the coin usually falls in price faster than you earn. Sometimes a message appears that there are no funds for the first payment.

But, you can withdraw your funds from there at any time and sell them on the exchange. This is done in one click and any time you want it. To invest normal coins, such as cue ball, you need to play DICE 5 times, otherwise the payout will not be credited. You can play for a minimum amount of 1 satoshi, 5 games are enough. However, there are many stupid people who, when investing in cue ball in Investbox, only see dice under the chat with a minimum horse bet. What I wrote about above. The consequences, I think, are clear.

When Investbox appeared, it looked like an ordinary hype (HYIP - pyramid, and not the word now popular among rappers, YouTubers and young people, denoting growth in popularity). That’s why the admins there immediately said that this was not hype. At first, the people looked at him with some caution and did not understand how to get close to this animal. Millions of identical questions flashed through the chat about whether this was crazy. It turned out not. At least the mechanism works, and the fact that the emission of coins at 10% per day lowers the price to the floor, you yourself should guess.

I took some LIZA to see how much it would drop and how long it would take for it to get down to 10-100 satoshi.

This is what it looks like.

You can earn money using coins from the investment box. But it’s better not to do this using an investment box. And, for example, place orders for -30% and -50% in a trade. In 1-2 days they will pour it into you, and you will be able to pour it into a good plus on the rebound. Or you can invest those coins that are traded on other exchanges and for which withdrawal is open. I assure you that even 0.1-0.3% per day on normal coins is much more profitable than putting it in the bank at 8% per year . But, on the other hand, keeping a large amount on the exchange for so long is not the safest decision. And trading is much more profitable. Although, for beginners who open an exchange and see emptiness, this is a good option.

Conclusion

Despite all the convenience of using bots in stock trading, experts are of the following opinion: a truly experienced trader with straight hands will find much more benefits in manual trading.

Newbies usually turn to bots, which is a big mistake. By using a robot and not delving into the topic, you will forever be stuck at the same level, while by upgrading your skills you can eventually achieve excellent income. Therefore, think carefully about whether you should take the path of a “bot breeder”.

Admins and support

I haven’t written too many tickets to technical support. Despite the fact that not all of them are closed, all problems have been resolved. It's funny that even if you specify the language in English, sometimes Russian admins answer. The most common tickets are I/O during arbitration. There were no other problems except for the account freezing and its fairly quick defrosting. I can’t even imagine how many tickets come to Yoba. I’m sure that when a coin freezes due to an unupdated wallet, the admins see it. And many other problems become known immediately. Because when a person feels a possible loss of funds, he begins to pray for support, believe in God and write a bunch of letters. It is important here to have patience, no matter how much you are shaken by worries. Of the moderators, the most memorable is matveevka , he brings maximum action when banning any moodle in the chat and in responding to tickets, it’s clear that the person doesn’t give a damn. I want to convey my personal thanks to him if he suddenly stumbles upon this article :)

In general, the support is not fast, but I am satisfied with its work, fortunately there is something to compare with and I have a good idea of ​​the amount of work in such departments.

Self-written bot

With some Java programming skills, you can create a trading robot yourself. A bot is usually written specifically for the exchange on which it is planned to work; for this, it must provide a trading API.

The trading API is a collection of data about the current trading position, as well as functions that make it possible to connect to trading according to the specified parameters. All these complexes are provided directly by the exchange itself.

Sometimes robots are created without an API, but this is a waste of time, because then you will have to write all of the above yourself. And there is no point in this, almost all exchanges support such technology.

When writing an arbitration bot, data from several exchanges is used at once.

The story about Pavel Krymov and Yoba

One of the subscribers asked me in a personal message about an article in which the creation of Yobit is attributed to Pavel Krymov. If you don't know, this is a guy who has 15 years of experience in various types of scams and pyramids and who has deceived more than a million people and got away with it.

Here is the article itself, I recommend reading it - https://stopkrymov.com/news/yobit-net-eshche-odin-piramidalniy-resurs-pavla-krimova

In my subjective opinion, the facts in the article very weakly stand up to any criticism. But I won’t even go into what sounds like complete nonsense and what seems to be true.

The most important thing is different.

Yes, I see a lot of small details and techniques in Yoba, which are very similar to the techniques that MMM and various pyramid builders and scammers used. And yes, you haven’t forgotten that Bitcoin is also a pyramid;) However, this is primarily a trading platform, and not a casino in Las Vegas. I don’t know who the founder of the exchange is, but even if we hypothetically imagine that he is a fraudster with 15 years of experience, I can imagine how he was crazy about the fact that even without directly deceiving people, it is possible to earn much more. Do you think he's a crook because he wants to be a crook? No, it’s just that this method of generating money from human stupidity and greed is the simplest and most effective. The exchange is a platinum asset, the same bitrex in November had a commission income of 0.25% from any transaction, $700,000 per day. Yoba is smaller, but even here the numbers are considerable, and cannot be compared in any way with the income and lifespan of the pyramids.

There is no point in closing the exchange, even after stealing the funds of all users. So the owner of the exchange will earn less. Understand this thing and it will become clear to you why scamming is not profitable.

Disadvantages of use

Despite the positive aspects listed above, many traders are in no hurry to install these programs for themselves. Why?

Lack of flexibility. The cryptobot operates only in typical situations, examples of which are included in its code. In non-standard conditions, there is a high risk of him making the wrong decision.

Inaccuracy of forecasts . No matter how much robots improve, they are still far from human intelligence. The program will work in the morning exactly the same as in the evening, although the situation may be completely different. A person is able to assess the situation and draw more accurate conclusions.

Crashes . Even the best-quality bot can malfunction, freeze, or crash at the most inopportune moment.

Commissions . Each exchange takes a commission from transactions, there is no escape from this. But, if you conclude only the most profitable deals, you can minimize these costs. In the case of a bot, fine and careful tuning is required, otherwise it will make a lot of erratic transactions, putting you in the red.

Fraud . There are honest bots, but there are many more malware roaming the web. They can:

• transfer the profit (or some part of it) not to you, but to a stranger;
• buy and sell cryptocurrencies not specified by you;
• first work well, and then, when an impressive amount has accumulated, transfer it all at once to another person;
• copy and transfer confidential data about your account

and much more - whatever the imagination of the attackers is enough for.

API and speed

In November 2017, the Bitcoin apocalypse began. On all exchanges, large and small, there is a wild increase in new meat. There are very, very many new players on the market. The load on the exchange is growing faster than new servers are being purchased. If we talk about yobit, trading is now very uncomfortable; an order on the market can take a full minute to be executed, although previously this happened instantly. I think these problems will gradually be resolved.

The exchange API is not the most convenient. There are several very important queries missing. As an automation specialist, I really miss some things, for example, with one request - get a list of open orders for all pairs, and not for a specific one, similarly with the history of transactions for all pairs. But you can work. I've seen worse :)

Main characteristics

The platform does not require verification. The user will not waste time providing personal data and wait for it to be verified.

Other features of the exchange:

1. $20 million in daily trading volume is small compared to other exchanges.
2. About 500 currency pairs are represented. But many cryptocurrencies were created by ordinary users and do not have any special prospects for development.
3. The affiliate program brings the user a 20% commission from referrals.
4. The chat is presented in Russian, Chinese, Arabic, German and English.
5. Fixed commission - 0.2% of the transaction amount.
6. Deposits/withdrawals are carried out in rubles and dollars.

Why do I still actively use Yobit?

Two reasons:

1. Great earning opportunities that are not available on major exchanges
2. Fiat input/output

Of course, big money always involves big risks. In Yoba, you need to be 10 times more careful and attentive. But, if you curb this beast, understand all the nuances and traps, your balls will become steel and your profits will be large. You will have to pay for experience and mistakes, but you will pay for it.

Register via referral and soon you will have access to trading or signal robots that ordinary traders do not have - https://yobit.net/?bonus=LOtpk

Happy trading and profit!

Depositing funds into the Ebit exchange account

First you need to top up your balance for further transactions. To do this, you need to open the “Balances” section with addresses for each coin where deposits are made. You can make a deposit in American dollars and Russian rubles or in cryptocurrency.

To invest in rubles, you can use the services QIWI, AdvCAsh and Payeer. Deposits in dollars are made using OkPay, AdvCAsh, Payeer and PerfectMoney. After identifying the fiat currency, you should find the coin in the list. For an easier search, there is a search by coin ticker. Next, you need to follow the instructions for replenishing your account with the proposed service before the funds are credited to the Yobit exchange wallets.