Yobit is not a new name in the world of cryptocurrency exchanges.
The Yobit.net exchange was first introduced in 2014 on the BitcoinTalk forum.
In our review, we will talk about who is behind the Yobit.net exchange, how it works and, most importantly, whether you can trust it with your money.
Read the review to the end.
What cryptocurrencies can be traded on Yobit.net
Currently, a little more than ten cryptocurrencies are traded on the exchange:
- Litecoin
- Yobit Token
- Dash
- Zcash
- Bitcoin Cash
We see that traders prefer to exchange anonymous cryptocurrencies such as Dash and Zchash on Yobit.
Exchange interface
The exchange interface is simple and clear:
Yobit is convenient because all the functions of the trading platform fit on one screen:
- Trading
- Balance
- Assets
- Navigation
Yobit's intuitive design is a feature that makes the exchange popular, especially among novice investors.
Contacts
Despite the fact that the Yobit exchange was founded in 2015, there is still no information about its owners. The site does not have accounts on social networks; users can only communicate with technical support through a request system. Plus:
- Twitter account (YobitExchange), through which the administration informs users about promotions and news;
- registered office: 0801-3254 Panama City, Plaza 2000 Tower, Calle 50 Panama.
Warnings against scammers
Twitter account
Registration
Classic registration on the website:
To register, you do not need to undergo KYC (know your customer) verification. You can use all the features of the exchange immediately after registration.
A feature of the exchange is that the email must be entered without dots before the dog sign (@).
We advise you to come up with a strong password if you want to deposit serious funds into the exchange. You can use an online password generator.
Deposit, withdrawal, commissions
The exchange works with all major payment systems:
- Webmoney, Qiwi
- Perfect Money, Payeer, AdvCash
- Yandex Money, Capitalist
And also with Visa and Mastercard.
You can find out the fees for input and output on the “Fees” page:
Why were miners able to collect more than 1.3 billion rubles in just 2 months?
The answer to this question is quite simple, the vmining project has gained worldwide popularity and investors from all over the world are attracted to it.
By entering vminng into the search, you will find a huge number of reviews, both video and text, in Russian, English, Chinese, Korean, Arabic, Portuguese, Spanish and many many other languages. The project has gained truly worldwide popularity.
Many bloggers began to build their careers thanks to this project. For example, the Russian-speaking blogger Young Bit Hunter has invested more than 10 bitcoins in miners and has already made a whole series of videos in which he shows his income from miners and talks about their prospects.
If you are interested, we will leave a link to his channel.
Let's highlight his reporting video about how the blogger paid for the miners in just 25 days and received a profitability of more than 40%:
It is also worth mentioning the large number of VMining reviews in different languages from bloggers from all over the world:
- Spanish: https://www.youtube.com/watch?v=zXF6hPWspFg
- Turkish: https://www.youtube.com/watch?v=VC0l2E7jraE
- Turkish: https://www.youtube.com/watch?v=-yoKmHFO6vc
- Serbian: https://www.youtube.com/watch?v=qAxoDDC0Vhs
- English: https://www.youtube.com/watch?v=uPB-StENmXI
This list can be continued for a very long time, let’s focus on these 5 videos.
How to trade on the Yobit exchange
When we get to the exchange website, we start from the “Trade” tab.
On the main screen we have everything we need for trading:
- On the left are balances and cryptocurrency pairs
- In the center is a chart with volumes, “buy” and “sell” buttons, transaction history, buy-sell orders
- On the right is chat
To trade on the exchange, you need to select a trading asset (on the left). You can use the search.
Then set the amount of cryptocurrency to be traded and click “buy” or “sell”.
Automatic trading
You can create automatic or pending orders to buy and sell coins.
To do this, select:
- Traded pair
- transaction type: buy/sell
- set the transaction volume
- Specify the purchase/sale price
And click "Create Rule".
Distinctive features
Yubit differs from a standard cryptocurrency exchange in its expanded functionality. Its clients can not only buy and sell electronic coins, but also take advantage of a number of other options, including:
- Vmining. This is a fairly new direction on Yubit, offering exchange clients to mine Minex tokens. The amount of profit that can be received as a result of mining is affected by the power of the package purchased by the user. The total number of packages provided on the exchange is five. By purchasing one of them, the client will be guaranteed to receive profitability every day. He independently decides whether to save it or sell it. The distinctive feature is that 90% of the miner price goes to maintaining the value of Minex on Yubit. Each new purchase leads to a 0.1% increase in the value of the token.
- Yobit.net investment box offers exchange clients to increase the volume of electronic coins stored in their account. This direction provides for the opening of investments, while eliminating the risks for the deposit. The client receives income paid from a special fund. If the funds of this fund run out, the investment will be closed without any losses on the part of the user.
A specific cryptocurrency has its own limits on the amount of investment and a certain percentage of profitability. This direction is closely related to Dice's game. Thus, the user must make a certain number of bets within 24 hours in order to receive accruals for specific coins.
Yobit exchange services
Free $1700
From the moment of registration, we see a flashing message “get $1,700 for free”:
In fact, we are simply waiting for a transition to the telegram channel. So don't expect free breakfasts.
2-factor authentication
You can enable two-factor authentication in the settings:
We advise you to immediately write down the secret key, as indicated on the website in the instructions.
Dash
This section shows our balance for all assets, as well as the hourly transaction history:
affiliate program
You can earn 20% commissions on trades in the affiliate program.
The “affiliate program” tab shows the date, amount earned, your balance and referrals.
CryptoTalk Affiliate Program
An additional source of earnings on the Yobit exchange is the CryptoTalk program.
You can post and rate users with 100+ posts on the Cryptotalk forum.
Please note that Yobit does not pay for posts from Nigeria, Egypt, Pakistan and 4 other countries.
The exchange also has a CryptoTalk BTC program - payments for posts with a positive average rating. For each such post they pay 200 satoshi.
YoPony
There is a lottery on the exchange - YoPony:
YoPony is an analogue of real horse racing, only on the Yobit exchange.
YoPony developers say that with the right bet you can earn from x2 to x100.
To place a bet, you need to indicate the amount in bitcoins opposite one of the ten ponies and click “Make Bet”.
The draw takes place once a week.
After registration, the history of previous “races” is available to you. To view a past race, click the “Replay” button next to the corresponding date.
To better understand how to make money on YoPony, we advise you to watch a review on YouTube.
YOTRA bonus
When you trade on Bitcoin pairs, you automatically receive 10% bonuses in the YOTRA token. The YOTRA amount is calculated from trading commissions.
If you registered on the exchange using a referral link, you will receive only 5% bonuses.
YoBit codes
In the "Yobicodes" section, you can create something like a "coupon": a kind of receipt that can be given to another user.
Free coins
You can regularly receive small fractions of tokens and currencies:
Investbox on the Yobit.net exchange
Investbox is a kind of piggy bank on your Yobit account.
For it you regularly receive a percentage of the profit. In essence, Investbox is an analogue of cryptocurrency staking.
The essence of the Investbox tool is simple:
- you choose an investment plan, for example a Bitcoin (BTC) account
- You invest the minimum amount specified in the MinInvest column
- And every day you receive 2% of the investment into your account.
Sometimes you get paid once a day, sometimes once a week. It all depends on the investment plan.
You can go to the Investbox page and find the best conditions for yourself:
YoBit DeFi
You can also earn bonuses in YoDefi tokens for creating liquidity on the exchange.
To do this, you just need to hold long and short positions on pairs:
- Btc-usd
- Btc-usdt
- Btc-rur
- Eth-usd
- Eth-usdt
- Eth-rur
High level of protection of user funds
Yobit.net user reviews indicate that some of them are distrustful of the cryptocurrency exchange due to the lack of a verification procedure. However, this in no way reduces the security of Yubit. A clear proof of this is the fact that over the years of the site’s existence, it has never been subject to hacker attacks, nor has it become involved in scandalous events.
Each exchange client can take additional care of the security of their own account. To do this, you should open the settings in your personal account, and, if desired, install two-factor authentication, use IP address protection, set up withdrawals only through confirmation via email address, block the transfer or withdrawal of coins if personal data is corrected on the platform, etc.
Virtual mining on the Yobit exchange
You can buy a virtual miner and receive passive income every day.
To find out the price and profitability of the miner, check out the table above.
According to Yobit, the cheapest miner costs 0.01 BTC ($500) and will bring in approximately $27 per month.
Current miner prices
As YoBit assures, they do not have many miners left, and the demand for them is greater than the supply, so the price of miners has recently increased.
However, in October a temporary promotion was launched that allows you to buy miners at the old price – from $100!
Below you can see a table of current prices for all types of miners:
| Miner name | Income per day | Price in BTC |
| Micro | +9 MINEX | ~ 0.02 |
| Light | +100 MINEX | ~ 0.2 |
| Standard | +550 MINEX | ~ 1 |
| Pro | +1200 MINEX | ~ 2 |
| Gold | +7500 MINEX | ~ 3.8 |
Site support
To write to support, you need to go to the appropriate tab and create a new ticket:
You can also create questions in telegram chats:
- Chat for Russian-speaking users
- Chat for English speakers
Reputation and user reviews about Yobit
The exchange is not associated with hacks and high-profile scandals; there have been no major technical problems in its history.
Since the launch of the platform, users have predominantly left positive comments. What review sites write about:
- Cryptogeek - rating 4.2/5
- Blockonomi.com - 8.2/10
- Onetime.nl - 4.5/5
Reviews on beschange.ru - 22 negative and 406 positive:
Investigation
Exploring the official YoBit website, studying reviews, chat correspondence, one cannot say that this is a scam. Rather, it is a standard cryptocurrency exchange with normal rules that earns commissions from transactions. Keys for Yobit or exclusive services are offered only by scammers, as technical support warns.
This exchange is a way to make money on the Internet based on trading cryptocurrencies. Success depends only on the skills of the users.
Traders only complain about the slow withdrawal of currency from YoBit. But there is no talk of outright fraud. However, problems with how to withdraw money from Yobit should be alarming. There is no certainty that this is not a hoax, a “bubble” that will burst in the near future and unexpectedly. Although many experienced traders continue to trade on the platform, they recommend working on other platforms in parallel.
Experienced traders continue to trade on the platform
