YoBit Exchange – registration and trading instructions

The main audience of YoBit are traders from Russia, China and English-speaking countries. And this is understandable, because the exchange was founded in the Russian Federation in 2014. Although it is a fairly old platform, little is known about its team, and local authorities have been investigating YoBit and periodically blocking its website. But what can the exchange offer to domestic traders?

History of the exchange

As mentioned above, YoBit was founded in 2014 in the Russian Federation. The names of the owners and developers of the site have remained a mystery to the community all these years.

Pavel Krymov, who is behind AGAM (Five Winds) and other large fraudulent projects, is involved in the creation of YoBit.

In 2017, the exchange faced blocking from Roskomnadzor, after which it created mirror sites yobitex.net and yobit.io. As of 2022, Russian law enforcement continues to investigate YoBit.

Despite its long history, the exchange has not gained a foothold among the largest, but attracts new clients with interesting opportunities that competitors do not have. On the other hand, over the five years of its existence, the YoBit exchange has not gotten rid of its negative image.

Scandals

Crypto scandals
The YoBit exchange is constantly being accused of fraud. What is the reason for such serious user dissatisfaction?

Firstly, from the moment the Ebit exchange was created until today, the founders have not revealed their names and, it seems, have no intention of doing so. There are also no licensing documents for the site. Adding to the mistrust were rumors that Pavel Krymov, a well-known scammer in the RuNet, was behind the YoBit exchange. This man became famous for creating more than 40 financial pyramids, as well as for conducting the ICO Solvena, the money from which disappeared in an unknown direction. However, there is no direct evidence that this particular person owns YoBit.

The reputation of the exchange also suffered due to a scandal related to the listing of fake coins. This was at the beginning of June 2016. Then the Waves team warned users about the appearance on YoBit of a “mysterious” WAVES/BTC pair available for trading. However, at that time, listing real WAVES tokens was impossible: the Waves ICO had just ended, and all the coins were in the investors’ personal accounts. The Waves team emphasized that it has no information about the participation of exchange representatives in the crowdsale.

Later, a similar situation occurred with Bitcoin Gold tokens.

The most interesting thing is that the YoBit exchange (Ebit) is openly engaged in pumping and market manipulation. So, on October 16 last year, the exchange announced on Twitter that it would “pump up” ten random coins.

YoBit has been operating for quite a long time, almost four years, and despite user dissatisfaction and many scandals, the exchange remains quite popular. So, it is impossible to say about the YoBit exchange that it is exclusively involved in manipulation and was created as a scam. However, it is not a secure exchange.

Main characteristics

Official site	https://yobit.net
Mirrors	https://yobit.io https://yobitex.net
Social media
Location	Russia
Founder	Pavel Krymov
Year of foundation	2014
Deposit/withdrawal method	Cryptocurrency, fiat
Available cryptocurrencies and tokens	BTC, ETH, DASH, LIZA, YOVI (most of the cryptocurrencies present on the market)
Number of trading pairs	8100+
Own token	YOVI
Commissions	0.2%
Languages
Verification	No
Mobile app	Android

Reviews of the Yobit net/io crypto exchange for 2021

Today, more and more Russian-speaking users are working with Yobit. The exchange is actively developing, introducing new functions, conducting coin distributions, ICOs and regular listings. Basically, traders highlight the following advantages of the exchange:

Yobit affiliate program;
simple investment of money in new Ebita crypto projects;
support for placing your coin on the exchange;
Yobit net exchange bonus program;
lack of verification;
popular payment systems, including Qiwi and Yandex Money;
moderate commission Yobit net 0.2% per transaction
technical support - in addition to the ticket system, YoBit provides support directly in the official Telegram chat of the exchange (which already has more than 50 thousand users). In it, exchange administrators answer user questions around the clock; you can also write to the administrators directly in private messages; their contacts are in the pinned message in the chat.

There are also disadvantages:

Opacity of the company.
Lack of mobile application.
A large number of unknown coins on the exchange.

Reviews from other portals:

Boxmining - a cryptocurrency YouTube blogger rated the exchange 4 out of 5.
The international portal Coinlist gave YoBit.net a rating of 4.8/5, focusing on high quality support and a user-friendly interface.
In the international user rating CryptoWisser, YoBit is in 3rd place, ahead of Binance, Kucoin and other well-known platforms

Registration process on the YoBit exchange

The registration process for YoBit is standard:

Go to https://yobit.net.
On the main page in the upper right corner, click “Registration”.
Fill out the standard form (login, email, password) and click “Register”.
An email will be sent to your email with a link that you need to follow to confirm your account.

Registration is now complete.

Additional functions

InvestBox

The page is intended for posting new tokens on Yobit. In other words, it is a tool that allows developers to easily promote their coins.

However, InvestBox is in no way a “hype” (a scam project simulating an investment fund) or a pyramid scheme. Each payment is made from a specialized fund, formed by deductions from commission fees, deductions from internal services and deposits from token developers. This Box can change the status from "No Coins" to "Active". And investors can close their investment at any time, making the feature safe to use.

“InvestBox” page
// Source: yobit.net
Essentially, InvestBox is a kind of crypto deposit that works like a similar banking service. The user can deposit any of the coins and receive interest for it. The interest rate differs depending on the cryptocurrency - from 0.1% to 20% per day/month/week.

For example, for Bitcoin - 0.1% monthly, for Waves and Dogecoin - 0.1% daily. The highest rates (from 5% to 20% daily) are offered for new coins, but often such coins lose value the very next day, and investors lose their assets.

It is noteworthy that in order to receive accrued interest on some coins, you need to play Dice (from 5 to 20 times a day). Regulars of this section use the dice bot and betzbot yobit bots to automatically create daily bets in Dice.

FreeCoins

Free coins on Yobit
On the Yobit exchange page you can receive or top up the offered free coins. Naturally, you first need to log into your account.

FreeCoins is Ebit's own faucet. But basically, users are offered only “shitcoins”, such as PUTIN, WHO, LIZA or LIZUN.

You can use the function once a day.

FreeCoins page // Source: yobit.net

CoinsInfo

The section has a lot of details about any specific cryptocurrency. This data includes information about the coin's PoW/PoS, algorithms, money supply, and token symbol (ticker). The information is of interest to those who are involved in mining and want to get more information about a specific crypto asset.

“CoinsInfo” page
// Source: yobit.net

AddToken

This section is intended for those who want their token to be listed on the YoBit exchange. The listing process is quite simple - just fill out the form and you're done. Of course, you must first undergo moderation.

Previously, the exchange had several tariff plans for adding a token: free (it is not known how many days later the token will be added to the exchange or whether it will be added at all), Premium - 0.1 BTC (4-7 days to add), Exclusive - 0.5 BTC (2-3 days to add) - this is data for July 2022.

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In 2022, the listing price on YoBit is 2.79 BTC, and the token addition period is from 1 to 7 days.

These rates are very low compared to other exchanges. For example, according to unofficial data, listing on the most popular exchange Binance costs 400 BTC.

Form for adding a token
// Source: yobit.net

Dice game

Dice is the favorite game of Yobit exchange users. The principle of operation is similar to the gambling game “Roulette”. The rules are very simple: the user needs to place a bet in cryptocurrency and click on one of two buttons: “Under 48” or “Over 52”. The system will generate a random number, and if the bet placed wins, the player will receive the won prize in his wallet, but if he loses, the coins will be debited from the account. If the number created by the algorithm is 49, 50, 51, then this will mean the victory of the site, i.e. neither player will receive any winnings. The minimum bet value is 0.000001, the maximum is unlimited.

However, there is one big “but” - it is impossible to check whether the result of the game is correct, since a reference to the hash of the result is not given.

Dice game on YoBit exchange

Yobit support

There is a separate tab for customer support. This section is based on a ticket system - you raise a ticket, and then your problem (ticket) will be resolved.

“Support” page
// Source: yobit.net
On the website of the Yobit exchange (Ebit) it is indicated that most requests are processed within an hour, and only the response to individual letters can take up to a day. But, judging by user reviews, the support service is still the weakest side of the YoBit exchange.

Exchange clients complain that requests are processed selectively, sometimes they have to wait a month or even more for a response, and in some cases letters are simply ignored.

P.M.

Since the site has many topics for communication, the developers of the YoBit exchange created a special client for messaging. PM is located on the right side of the site. Here you can write messages to other exchange clients. To use this feature, you must have at least 0.01 BTC in your account.

It must be said that the live chat is very convenient if the client wants to find out which coin is the most traded that day, or just hear exchange news.

Now that we have a clear idea of the functionality of the site, let's find out how to register on this network.

YobiCodes

YobiCodes is a unique feature that is essentially a recharge code. This option allows exchange clients to exchange or sell public YobiCodes to other users in the chat.

Tab with YobiCodes
// Source: yobit.net
You must click the “YobiCodes” button, then on the page that opens, request a code and enter it on the Yobit website, creating vouchers. After this, the user will be able to exchange crypto coins directly in the chat, i.e. share your income with other clients.

CryptoTalk Campaign

At the beginning of autumn 2022, the Yobit exchange launched the CryptoTalk forum, where users can earn bitcoins for creating high-quality messages. Each message must comply with a number of parameters and is necessarily checked by a moderator before payment.

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Read the full review: CryptoTalk Forum - earn bitcoins for communicating

For one high-quality message, the forum awards 1000 Satoshi (0.00001 BTC), while a maximum of 30 messages are paid per day, i.e. The maximum daily earnings on CryptoTalk is 30,000 satoshi (0.0003 BTC).

Earned satoshis are automatically paid to your registered YoBit account, and you can check your earnings in the “CryptoTalk Campaign” tab.

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Official website of the CryptoTalk forum

Account verification

There is no account verification on YoBit. For greater security, it is recommended to enable two-factor authentication (2fa) through “Settings”. To do this, download the Google Authenticator mobile application (there are versions for Android and iOS) and scan the QR code in the two-factor authentication settings section. Numbers will appear - enter them in the form in the same section of the site.

Setting up your Ebit profile

In your profile settings on the Yobit website, in the “Settings” item, you can enable two-factor authentication for security, set up alerts and send emails, and also change the login password for the web resource.

To send money to another exchange user, you can create a Yobit code. Item “Fees” - information about commissions for input and output of electronic payment systems. “Faq” - answers to some questions about the operation of the Ebit exchange. “Bonus” - you can receive additional cash bonuses that will be used in trading. “Api” - to automate the interaction between the exchange and third-party services. “Affiliate” - participation in an affiliate program.

We recommend going to “Settings” and be sure to enable two-factor authentication to protect your account from hacking. In this case, you need to download the Google Authenticator application for Android or IOs to your mobile phone, launch it and scan the barcode or enter the secret code manually. Six-digit numbers will appear; you need to enter them in the “Authentication code (2fa)” line and click “Enable”. You need to keep the secret key in a safe place, it will be needed if the phone is lost or the application is deleted.

Replenishment and withdrawal of funds

YoBit was created for Russian traders, and there is an option for depositing/withdrawing funds in rubles. In addition to rubles, dollars and cryptocurrency are available.

Deposits and withdrawals are carried out in the “Balances” section:

To enter, press “+”, to output – “-”.
In the list that opens, select the desired currency - BTC, RUR, USD, LTC or another.
When depositing cryptocurrency, transfer funds from your (non-exchange) wallet to the address provided by the exchange.
When withdrawing cryptocurrency, indicate the address of your wallet to which you want to withdraw funds and indicate the amount to withdraw.
It is also possible to deposit/withdraw rubles and dollars through Payeer, AdvCash and other systems.

Interface

The interface of all pages of the Yobit exchange, excluding the central part, is the same. At the same time, all information is displayed on one screen (without scrolling).

At the top there is a navigation menu; in the left sidebar – amounts on balances and the “Market” section; in the right sidebar there is a chat for communication, the Dice panel and the latest tweets from the official Twitter account of the exchange. Below - about all this in a little more detail...

Deposit and withdrawal fees

There are no input fees, so the question of how to top up your balance on YoBit is irrelevant.

The fee for withdrawing cryptocurrencies is 0.0005.

There are also various ways to withdraw to fiat. The maximum commission for withdrawal to YoBit reaches 70 rubles + 7% to a Visa/MasterCard (AdvCash) card or 6 USD + 5% USD, which is clearly higher than the market average. More details: https://yobit.net/ru/fees/

Other exchanges with fiat support:

EXMO;
CREX24.

List of tradable tokens

The most popular cryptocurrencies on the exchange and trading pairs with the highest turnover:

Cryptocurrency	Trading pair
Ethereum	ETH/BTC ETH/USD
Dash	DASH/BTC
Zcash	ZEC/BTC
Lisk	LSK/BTC
Waves	WAVES/BTC WAVES/USD
Litecoin	LTC/BTC LTC/USD
Bitcoin	BTC/USD
Ethereum Classic	ETC/BTC
Karatgold Coin	KBC/BTC
Noah Coin	NOAH/BTC NOAH/ETH
EDC Blockchain	EDC/BTC

How to trade on the stock exchange

When entering the exchange, all users are automatically taken to the trading window, so to start trading, all you have to do is log in using your login, if you have not already done so.

There is no point in talking about the number of cryptocurrencies available on YoBit, since the exchange seems to be trying to cover the entire market. The number of active trading pairs exceeds 8,000, which is especially impressive compared to the hundreds of pairs on the average exchange.

True, many of the coins are fake.

Interface, menu, features

In general, the YoBit trading interface is familiar, but for the convenience of users there is a built-in general chat where you can communicate with other traders:

Balances - here you can view your own balance for different currencies.
Market - here you can view changes during trading on the exchange.
Information on the selected trading pair.
Price movement chart for the selected pair.
Form for placing orders (orders).
List of open orders on the exchange.
History of concluded transactions on the stock exchange.
General chat and twitter YoBit.

In addition to the Trade section, traders can visit the Market, Balances, and CoinsInfo located at the top for an expanded view of the market.

Placing orders

The YoBit order form is also standard, although it looks a little more convenient than on many other platforms. Having selected a pair, proceed to buy/sell:

Specify the number of coins to buy/sell.
Leave the default coin price or enter your own.
View the total amount, the exchange's trading commission, and the total amount with commission.
Click "Buy" or "Sell" respectively.

If you left the price proposed by the system, the application will be executed instantly. If the price is different, the system may take time to execute the order.

Exchange services

YoBit offers a couple of services that will be of interest to those who want to make money on cryptocurrency. They are called InvestBox and FreeCoins.

The first, InvestBox, gives you the opportunity to invest in funds based on one of the cryptocurrencies - BTC, ATOMIX, URANIX, etc. - and receive a daily fixed income.

The second service, FreeCoins, is a cryptocurrency faucet that distributes free coins to users (as of June 16, 2019, the section is not working).

What is a cryptocurrency faucet and how does it work? A faucet is a website or page of a website that gives away small amounts of cryptocurrency to visitors, usually through advertising placed on it.

Previously, YoBit conducted an IEO (initial exchange offering), much like an ICO. The difference between ICO and IEO is that in the latter case, the exchange is responsible for raising funds, not the coin developers. This is believed to provide greater guarantees of return to investors.

Intra-exchange transfers - codes - are available for transferring funds between users on YoBit. To create your YoBit codes, click on your profile and select the section in the menu that is called “YoBit codes”. Next, all that remains is to select the desired cryptocurrency and indicate the transfer amount.

FreeCoins. Free coins

Some Yobit users “share” coins, in other words, they simply give. You can join them. Or you might as well get the coins yourself for free. All this is on the FreeCoins tab. Scroll down the page, click “Get” - that’s all you need to do. However, of course, no one is letting their fortunes go down the drain; basically, in terms of rubles, they give out meager sums - pennies. However, for balloon lovers, it would be a shame not to take advantage of this.

Join the Yobit exchange, if you have not done so before, click the button:

Go to the YOBIT exchange website

What problems can you encounter on the stock exchange?

The list of difficulties that exchange users may encounter is huge, and is second only to the list of trading pairs:

withdrawal of withdrawn funds “to nowhere”;
Yobit.net blocking;
blocking accounts without explanation;
inconvenient ticket system;
reluctance of technical support to solve user problems.

It is highly not recommended to keep large amounts on your balance sheet.

However, there is a fly in the ointment - not all users encounter such troubles.

One of the difficulties that YoBit clients have recently encountered is that its users cannot access the site and mirrors. Usually, when logging in with a new IP, YoBit asks for a password sent by email, but it happens that the code does not arrive. This was due to security system updates. In such cases, it is recommended to follow the team’s news and contact technical support if problems arise.

Contact technical support in the “Support” section. There is no live chat; instead, you are asked to leave a message or create a ticket (without a number). YoBit specifies a response time for requests of 24 hours and usually the support really responds quickly.

YoBit Exchange (Yobit): registration, trading, reviews 2022