Yobit exchange Cryptocurrency Exchange Review
There is no doubt that out of the many crypto currency exchange platforms, Yobit exchange has managed to be among the few that are highly prominent. It has for a long time been considered ideal for arbitrage considering that there is a lot to choose from. However, in as much as the platform is considered a major force in the market, it is important to have a clear idea of what the company is all about and especially how to trade. Understanding everything about a crypto currency is the primary path to making the best out of the venture. It is definitely important to know how to trade at Yobit Exchange since that is the main foundation.
One of the notable things about Yobit exchange is that it is not among the companies that exhibit their history in full. As a matter of fact, the platform is known not to provide its prospective as well as existing clients with details in regards to location. There have been speculations though that the company is based in Russia. However, this is not a proven fact, hence leaving coin traders with no concrete idea on where the prime operations are done. The fact that this platform lacks background details raises the questions…is it legit? Is it safe? Is it scam? Is it worth trading Bitcoin, Bitcoin Gold, and others in the coin list?
However, in as much as the background is not fully known, Yobit.net has been among the platforms that have managed to serve a lot of people across different countries both on arbitrage or singular trades. The intention of the developers of Yobit Exchange was to create a place where crypto currency traders would meet with common interest and make a living out of their ventures through arbitrage and other forms of trades. This has been so far achieved since the company has managed to reach out to people wide and far.
It was only in 2015 that Yobit exchange was introduced to the BitcoinTalk Forum. However this does not mean that the agency was not in operation before. Bitcoin Cash, Bitcoin Gold Trades were still on course. Traders had already known the platform before it was officially introduced to the forum. Following the introduction, the agency has managed to garner even more clients. This is for the simple fact that the forum exposed Yobit.net to a larger audience hence giving room for arbitrage and other forms of trades.
Is Yobit.net Safe? Is It Legit? Is It Scam?
The main question is…has the platform provided enough information to warrant its clients utmost security? Is the company’s image on Reddit and other review sites appealing enough? It is rather obvious that any investor must embark on a thorough research to ensure that he/she is highly safe. The last thing that any trader would want is to lose money through unsafe transactions. You therefore need to ask yourself…is it scam?
So, is it safe? Is it legit? Is it scam? This question may not be answered in totality. Since inception, there have been mixed reactions and responses from clients. This is the reason why trading on the platform may not be considered fully safe and not fully unsafe.
There is nothing wrong in getting criticism or even a negative review. After all, this is the point where an agency gets the chance to make the necessary improvements in the quest to satisfy clients. Moreover, a number of other exchange platforms have turned out to be scam. It is however not clear if Yobit exchange has done all it takes to meet the demands of clients. This is for the reason that negative criticism keeps coming from Yobit.net clients.
On several instances on Reddit and other platforms, clients have complained that Yobit.net does not show any balance in the respective wallets, even after deposits are made. A review made by a client just a few days ago indicates that he made a deposit of 0.8 Ethereum on January 3rd 2018. However, his balance was not reflected in his Yobit.net account despite contacting the support team. The client termed the platform as scam. This is just one of the cases that have been raised by Yobit exchange users who end up wondering…is it legit? Is it safe? Is it scam?
It therefore comes to the attention of the public on if Yobit exchange is legit or scam. In an instance where one or two clients complain about losing their money in crypto currency exchange platforms, it only comes as a scam alarm to those intending to make way there. Is it scam?
Apparently, it is possible to make huge returns from Yobit Exchange but with recent cases of lost money, it may not be a guarantee of making a fortune. It goes without saying that watching your back for scam activities when trading is a fundamental consideration. You must trade with caution at Yobit.net at all times to avoid suffering a bad fate of scam.
Yobit exchange User Reviews On Reddit: Is It Scam?
One of the key ways in which customers establish if a crypto currency platform is worth the investment or not is through customer reviews. The same case applies to Yobit Exchange. It is among the platforms that have received massive reviews in the past. It is therefore important that you go through the reviews on Reddit or other platforms and understand if you should invest your crypto currency at Yobit exchange or not.
One of the things you will realize about Yobit exchange reviews on Reddit is that most of them are not hailing. In other words, most of the Reddit reviews that the platform has attracted in the past are negative. Customers make all sorts of claims against the platform, which goes a long way in expressing dissatisfaction.
One of the main claims made on Reddit about the Yobit is that it does not facilitate withdrawal of Altcoins. This comes as a major inconvenience among the platform users. Clients are always left wondering why the company does not give room for such withdrawals. Is it legit? Is it scam?
Another concern that has been raised by clients in Reddit is that Yobit exchange does not allow them to access their funds even when they have done profitable trades. The Yobit Exchange deposit process is done flawlessly but when it comes to withdrawal, everything goes wrong. This again raises the question…is it legit? Is it scam?
In addition, customers, through Reddit, have expressed their disappointment with failure of balance reflection after deposits at Yobit.net. In normal cases, it is expected that account balance should reflect within a maximum of 24 hours especially if the bank details provided are fully verifies. This is never the case with Yobit Exchange. Most of the clients claim that it may take eternity for balances to reflect in their accounts. Some claim that their balance never reflected at all. Is it scam? Is it safe? Is it legit?
Not to mention, some of the clients claimed that it was not possible for them to access their accounts after signing out. Note that this happens even after the clients have made their deposits. In such a case, clients are left with no choice than worry for the safety of their money. If an account is terminated unanimously, it only adds up to one thing- ulterior motive. Is Yobit safe? Is it scam? It is always necessary to ask yourself such questions.
While this may sound rather rude, some clients go a mile further to term the agency as fraud. They claim that their funds have been stolen from them after successfully making their deposits. You might also wonder…is it scam?
In essence, the number of negative reviews in regards to Yobit.net is far high as compared to the positive reviews. This only comes as a major indicator that there is a lot to worry about Yobit.net. In an instance where the number of positive comments is suppressed by the number of negative review, then there is the need to take caution. Could this Yobit be scam? Is it legit in the first place? Is it safe trading there? The reviews speak tons.
Yobit Exchange Customer Support
Any crypto currency platform is obliged to be answerable to clients in whatever instances that may be of concern. It is the obligation of the support team to ensure that customers are served and that all their needs are addressed in full. If you must know, it is the customer support that creates or demolishes the image of an exchange platform. Bad customer support will undoubtedly render an exchange platform a scam or rather unappealing. On the other hand, good customer support renders an exchange agency reliable and trusted.
Evidently, there is a big problem with the Yobit.net support team. Apparently, the Yobit.net support team is not responsive to clients. Some claim that it may take even a month for the support team to respond to concerns. In other cases, the support team does not respond at all. According to reviews on Reddit, there are speculations that the support team is an indication of scam.
In one of the instances through Reddit and other platforms, a customer claimed that he could not login to his Yobit Exchange account soon after signing out. After contacting the support team, he never got any feedback. It turned out impossible for the said client to gain access to his account. Another client claims to have made two different coin deposits only for the cumulative total to turn out lower than the original deposit. Upon contacting the support, he also never got a response.
In a different instance, a client withdrew $50,000 at Yobit Exchange in Bitcoin but the amount never reflected in his bank account. Upon contacting the admin of the platform, he was advised to wait for 48 hours of which the balance never reflected.
Apparently, if the support team at Yobit.net responds to your concerns, it is not in a professional or convincing way at all. As a matter of fact, all the responses made are based on mere lies since the platform hardly keeps its word. Most of the concerns raised in the platform are plainly ignored. It is actually believed that there is no support team at all.
In addition, Yobit Exchange does not provide enough contact information. This means that clients are forced to make inquiries through email or the live chat, which typically do not exist.
Yobit.net is, honestly, not in good interaction with its clients. This is one of the things that will make you take a step backwards or even avoid trading on the platform altogether. As earlier mentioned, the main indicator that a platform is legit is based on the type of support team on the ground. In an instance where the support team is totally unresponsive, it only confirms that there is a lot to worry about. In a nutshell, the support team at Yobit exchange is in itself a red flag to prospective and existing clients.
Is Leverage Available At Yobit Exchange?
It is true that most people are afraid of trading high amounts of money to avoid losses. However, there is always a mechanism on the ground that provides clients with an assurance of safety for their money. Leverage is one of the ways that companies win the trust of their clients.
In essence, leverage is a loan that clients are granted in addition to their investment to allow them trade a higher amount of money. This is on condition that the agency will withhold some of your money as security.
While leverage is seen as one of the best things to clients, Yobit exchange does not offer such. Perhaps there is a key reason behind why Yobit Exchange does not consider this as necessary. The process of implementing a solution to leverage cases has always been complicated. This could be one of the reasons why Yobit exchange does not give room for Leverage.
Aside from that, it is possible that customers are not interested in investing their money with Yobit Exchange, following the many negative reviews aired in the recent past. Leaving some of your money with the company as collateral is more of a risk than an opportunity. Considering that majority of Yobit exchange investors have lost their money already, it would not be a good idea to take leverage. The reduction in demand for leverage could be the reason why the agency does not offer such.
In this regard, if you wish to trade crypto currency with Yobit Exchange, it is ideal that you look for an avenue to source your funds. Alternatively, you can begin low and test the waters as you invest at Yobit.net.
One of the good things about account creation at Yobit exchange is that it is really easy and quick. The system is programmed to provide you with a verification email almost immediately. Once you provide the sign up details, an email will be sent to your account. The notification comes with a link in it allowing you to click on it for verification.
In essence, it does not take more than 5 minutes to have your account at Yobit.net in place. Upon registering with Yobit Exchange, a comprehensive step-by-step guide will be provided to you. This is meant to familiarize you with the Yobit.net website before you venture into trading. One of the best things about the Yobit Exchange guide is that it is absolutely clear and straight to the point.
The verification process is also fast and convenient for the user. It takes a matter of minutes for Yobit.net to verify your payment details hence allowing you to get into trade fast.
Account login at Yobit.net is also quick and reliable. As long as you have Google Authenticator, you will be set to access your account right after sign up. However, the agency might want to make some upgrades on Yobit Exchange since there have been issues concerning difficulties in accessing personal accounts. This is based on several exchange reviews regarding Yobit.
How Yobit.net Trading Works: Is It Easy To Maneuver Through Yobit Exchange Platform
One of the good things about this crypto currency exchange platform is that it is remarkably easy to use. Even traders who are inexperienced with the platform can comfortably do everything without necessarily seeking guidance. It is always important to know how to trade since that is the only way your efforts will count. The developer of the platform had the idea of making all operations easy for clients and this was achieved. It does not matter whether you are an amateur or an experience trader at the platform. Everything is rather straightforward hence user friendly.
The first thing you will do is login to your Yobit Exchange account. This is easily done by providing your username/email, and your chosen password. It is always important to ensure that the password you choose is indeed safe for you when signing up. The design of Yobit Exchange is in such a way that you will not consume a lot of time in the name of login in. The loading of the website is rather fast hence giving your quick access to your personal account.
Upon accessing your personal Yobit Exchange account, it is now time to get down to trading. You will be required to choose the currency that you wish to trade. This is located on the left-hand side of the website. You are at liberty to choose from the different types of currencies that are offered at the platform. Once you have chosen the currency that you intend to trade, you will be required to specify if you intend to but or sell Bitcoin cash of any other currency in the coin list. You will be set to trade upon specifying what you wish to do with the currency you have chosen.
It is important for traders to note that there is the set minimum of the amount that you should trade. In this case, the platform allows you to trade a minimum of 0.00010000 of the chosen currency. Note that the minimum applies in all the currencies that are offered in this platform. It is therefore necessary to ensure that you have an account balance of an amount that is not lower than the aforementioned value.
The developer of the platform also provided a live chat section just in case traders feel the need for clarification on certain matters. You might want to consult the support team, particularly in regards to the latest coin gossips around. That way, it will be easy for you to trade around and to choose the best coin. You might also be interested in knowing how to trade if the platform feels rather strange to navigate around.
The only problem is that the live chat at this platform is almost dormant. This means that it might take longer than usual for you to get a response. There have always been key concerns on the manner in which the support team behaves. Some clients say that the support team never communicates back. Others say, they got their response after a long time. You can however try your luck and drop the support team a message and wait for their response.
Deposit and Withdrawal Methods Applicable
Yobit’s intention was to reach out to as many clients as possible. This is one of the reasons why the agency opted to provide prospective and existing clients with a variety of deposit and withdrawal methods. Most of the deposit and withdrawal methods are fully applicable for most people hence giving the platform an advantage of attracting a high number of clients.
It is worth noting that different deposit methods come with different charges on clients. While some of the methods are remarkably cheap, others demand a considerable amount of deposit fee. It is only ideal to choose a deposit method that does not charge hefty amount of fees.
The cheapest deposit method is in the form of United States Dollars, which is absolutely free of charge. However, it should be understood that the free transaction terms apply for USD deposit method made via Perfect Money, OKPAY, Capitalist, and Advcash. Any other USD deposit may incur some charges as long as it is accepted in the platform. The fees on USD is remarkably low when applicable though.
Another deposit method applicable at Yobit exchange is Payeer. This is among the universally accepted money transfer platforms hence the endorsement by Yobit.net. It is however worth noting that this deposit method has some applicable charges. You will be required to pay 2% fees of the deposit amount upon choosing this method of deposit. This is applicable to any amount you choose to deposit. In other words, the higher the amount of trade, the higher the fee.
QIWI is also among the acceptable deposit method applicable in this platform. The deposit method also requires you to pay certain fees. According to the recent updates from Yobit, all deposits made through QIWI were subject to a deduction of 5% as deposit fees. This is higher as compared to other deposit methods of payment that can be used in this platform.
It is also necessary to have a grip of the amount charged for different withdrawal methods at Yobit.net. After all, you will have to withdraw your money after trading. In this case, Yobit exchange is quite fair. Applicable withdrawal fees on all transaction can be as low as 1%. The fees can go up to 3% depending on the transaction at hand and the withdrawal methods used.
However, the same percentage does not apply to USD withdrawal methods. You will be required to pay higher fees of 5% for all USD withdrawals. This is definitely higher as compared to other withdrawal methods. Apparently, this is where the fees for USD deposits are covered. Remember that most USD deposits are free of charge. In essence, the withdrawal methods terms at Yobit.net can only be termed fair as compared to other platforms out there.
It is also worth noting that Yobit Exchange has special free coins. This is one of the mechanisms that is used by the platform to give traders a experience of trading for free. Among the free coins available at the platform include; LSK, PAC, ASAFE, TWERK, BITOK, and BTC. You will realize that by the side of each free coin as displayed in the platform there is a button that is meant to direct you to where you should claim free coins. You can take advantage of the free coins and learn the ropes in crypto currency trading.
Yobit Exchange Website Interface: Is The Charts Well-Displayed at Yobit.net
Well, as far as the interface is concerned, Yobit exchange was aiming at making it easy for users to navigate around. This was achieved. One of the things you will realize about the website interface is that it is simple, precise, and straightforward. The charts are absolutely clear. The designer ensured that it was easy for the user to operate through the website without necessarily playing around with the mouse too much. The interface is designed in a manner that everything including the charts is displayed without necessarily scrolling. This means that the home page displays literally everything that the website entails. In other words, everything is right in front of you.
It is also not hard for clients to sign in or sign up to Yobit.net. The same case applies when it comes to login. The login and sign up page is in clear array such that any client does not face any challenges maneuvering around. In this regard, you will easily access your Yobit.net account as long as you have good Internet connection.
The color of the interface is also quite attractive to the user. Obviously, human eye is usually attracted to colors that are not too bright and not too dull. This was the initial idea of the Yobit.net website designer. The colors of the interface blend well hence creating an appealing experience among users. The charts are not too exaggerated in terms of color. However, there has been claims that the color of the interface should at least be updated to match up with the current trends. That is just a proposal though.
The trading platform is always expected to be simple and not complicated to any of the clients. This is to boost utmost convenience and ease of navigation in the website. This is not the case with the platform’s interface. Apparently, most people claim that the trading platform is too complicated such that even the experienced traders face challenges maneuvering around.
Aside from that, the home page of the website seems to be rather too crowded. The charts are many hence forming a crowd in just one page. It is clear that the intention of the designer was to provide clients with a platform that houses all the contents of the websites including charts. However, this seems to be rather exaggerated since there is too much that meets the eye. It has been prosed severally that the content of the home page should be lesser than it is now. With lesser details, it would be much friendlier to maneuver through the charts and the website in general, hence giving room for utmost convenience.
In addition, there has been an observation that the website houses other activities that do not tally with crypto currency trading. For instance, there is a feature that allows you to engage in gambling still under the website. This compromises the meaning of trading charts for those interested in Bitcoin Cash and the likes. It is quite understandable that the agency aims at maximizing its earnings. However, merging crypto currency trade with gambling tends to create an awkward image for the agency. Not every person may trust a company that links with gambling.
In a nutshell, there is the need for the company to consider upgrading its user interface. It would be much better if the agency considers applying an interface that is far much friendlier as compared to the current one. With other agencies coming along, it is possible for Yobit exchange to lose its clients to other competitors. It is worth understanding that there is stiff competition in existence and clients will always opt for the best catch. A simple thing such as user interface is enough to drive away clients.
Website Security Mechanism
There is always the need to observe security especially as far as crypto currency trading is concerned. After all, such website carry a huge amount of money which can be lost in instances of compromised security. Cases of hacking have been raised in the past where traders end up losing huge sums of money to hackers without their knowledge. To mitigate such effects, crypto currency trading platforms have come up with mechanisms to ensure that their clients’ money remains very safe at all times.
Much has been done to make sure that Yobit.net is safe and that clients remain with the assurance of having their money intact. Among the prime security features put in place by the website include: file system encryption, Anti-DDOS, SSL, Cold/Hot Wallets, and Yobi Codes. All these work in the favor of both the agency as well as the clients. Much of all this is done to ensure that scam cases are remarkably reduced.
An added security feature that the website presents is the two-factor authentication. The company employed both Google Authenticator and emails to ensure that accessing personal account remains safe for all users. This means that your personal Yobit exchange account is not likely to accessed without authorization. Any person accessing an account from a new device will be required to undergo the necessary authentication which can hardly be made without providing all the necessary login details as well as other identification data.
Aside from that, the platform also works towards minimizing transactions that may appear threatening to the safety of the company and that of clients. It is true that some of the people who sign up are only after ulterior motive. Some of these people are actually hackers only after stealing other people’s money. As a way of reducing such cases, Yobit exchange considered it necessary to come up with a mechanism that would keep everyone safe from queer transaction.
The system is in itself intelligent, such that it can easily notice queer transactions. It is also programmed to embark on automated analysis also with the intention of unearthing queer transaction. Upon confirmation that indeed the transaction in question is suspicious, the system goes ahead to block the user. It can as well terminate the user account on grounds of suspicious activity.
However, it has been severally claimed that Yobit exchange security system is not that strong and reliable. Some of the past users have claimed not to access their accounts even after successfully creating them. It would be ideal for the platform to manually scrutinize accounts rather than allowing robots to automatically lock out some of the clients.
It has also been claimed that some clients make their deposits and end up not getting any balance reflection in their accounts. This is in itself a security alarm. If it is possible for your deposit to disappear without a thorough explanation on its whereabouts, then it becomes a security threat for traders.
Aside from that, there have been claims that some withdrawals made never hit the clients’ accounts. This is despite the fact that they have invested their money and made some profits. It is always the wish of a client to make withdrawals when he/she deems it necessary. It is their right to have their balance in their bank accounts as soon as possible. In an instance where balance reflection takes longer than usual, clients cannot help but as questions on whether they are still safe trading in the platform.
In a nutshell, the security mechanism as exhibited by the Yobit.net platform is not at its best. Although there has been several measures to ensure that clients are guarded, there are still some threats to the security of their funds. In this regard, it would be ideal if you trade with security weaknesses in your mind.
Terms and Policies: Guide On How To Trade
It should be noted that the easiest ways of avoiding mishap and trouble between an exchange platform and its clients is by providing a clear and articulated set of rules and regulations, as well as policies. It is through such policies that individuals know how to trade. This is because there are a lot of activities expected to take place in such platforms, some of which may violate the rights of others. With the rise in phishing and money theft cases, it is only ideal for any crypto currency exchange platform to develop a set or rules and regulations to keep watch over all activities taking place there.
The key aspects that must be addressed in any policies governing a Bitcoin exchange platform is the trading parameters, the dos, and the don’ts that each and every person must observe. That way, it will be really easy for every client to engage in trade without violation of the laid policies. It will also be easy for the company to ensure that clients are served best.
Yobit exchange has managed to maintain a set or rules and policies since inception. Before you even become a member, you are requested to go through the agreement and policies and confirm that you have indeed comprehended everything and that you are ready to comply. Upon confirming that you have read through the agreement, you will be set to access your account. In other words, if you have access to your account, then it means that you have read and understood all the policies as stated in the agreement.
If by any chance you do not agree with the set principles, terms, and conditions, you are requested to desist from conducting any form of transaction in the platform. This is because the set rules will remains and if they do not work in your favor, it will not be considered as violation. It is actually advised that you desist from signing up with Yobit.net if the rules do not sound appealing or are oppressive to you.
The policies as presented by this website are comprehensive and almost cover everything on how to trade and do other activities. Among the prime issues addressed under this section include;
- Crypto Currencies- Under this section, the user is provided with the list of crypto currencies. It is further stated that the crypto currency list is highly determined by the prevailing stock exchange and that changes can reflect any time.
- Disabling of Crypto Currencies- This is also part of what the user policies and general agreement covers. In this case, the user is granted the liberty to request for withdrawals in case of disabling of the crypto currency they are trading. This is allowed for a period of 14 days after which withdrawals may be denied.
- The Market- Yobit.net states categorically that the market is free. In other words, all transactions are conducted at owner’s risks. In an instance where unfavorable circumstances emanate from a certain trade, it is the trader who should take responsibility. However, the agency may take responsibility of the turn of events is as a result of failure on their part. The clause also states that changes in market trends may be unpredictable. Changes can hit at any given time hence the need for traders to remain informed about that.
- Rules and Trade Conduct- The agency expects all traders to behave in a given way as they conduct their activities in the platform. It is important to understand some of the activities that are considered as misconduct. Some of the activities that amount to misconducts can lead to immediate termination of an account, hence the need to be watchful. It is necessary to understand that Yobit exchange operates under an intelligent system that is programmed to detect any queer activities. All that pertains to rules and trade conduct are fully covered under the agreement section.
- Rules of Funds Deposits- Under this section of the agreement, it is made clear that deposits must be made in a given way to avoid security breach and inconveniences among traders. For instance, the issue of minimum deposit is fully addressed under this section. It is also clearly stated that when a deposit is made, the user has the right to embark on trade and even add another address to add funds. Upon confirmation and verification, all funds are expected to reflect in your personal account automatically. The duration it takes for the amount to reflect basically depends on the currency type.
The aforementioned aspects and others are fully explained in the user agreement, policy, and regulations. However, there are some key aspects that are not fully addressed here, including the withdrawal methods policies and what guides value fluctuation during trade. It would be a good idea for the agency to consider addressing the issue of withdrawal methods as well and the guiding trends of daily trading charts. It is worth acknowledging that a lot has been covered under the user agreement though.
Account Termination: When You Cannot Login
Just like most Bitcoin Gold and other crypto currency trading sites, there are some things that might compel the administration to terminate a personal account. It is true that any agency reserves the right of admission. This means that the agency in question decides who to admit and who not to admit. It also decides who to keep and who to terminate.
Considering that the Bitcoin Gold and other crypto currency market keeps growing by the day, there are major concerns that have been identified as factors that can compromise the safety of traders. The higher the industry rises, the more queer activities arise. It is therefore necessary for any agency to take the obligation of controlling its clients irrespective of their status. As long as there is a reason to terminate a client, the agency in question must take a move immediately.
However, it is not always that accounts are terminated. The agency might deem it necessary to first put the account in question under scrutiny. This calls for temporary termination or rather suspension. Some of the actions linked with suspension are not that serious and can be rectified.
Here are among the key reasons why an account can either be terminated or suspended:
1.Personal Wish- For one reason or another, you might want to terminate your personal account. In such a case, you are at liberty to request the support team at Yobit.net and ask them to terminate your account. You are also at liberty to reinstate your account upon making your personal decision. Unfortunately, most people opt to quit the platform without necessarily asking for the support team to terminate their accounts. Either way, you are at liberty to cease being a member of the agency following personal deliberation and decision
2.Suspicious Transactions- One of the common things about crypto currency exchange platforms is that they are very clear when it comes to transactions. Any negligence in tracking transactions may amount to serious implications not only for the company but also the traders. It is therefore very important for any agency to take action against any person who seems to be embarking on suspicious transactions. The same case applies to Yobit. The agency is categorical when it comes to deposits and withdrawal methods and general trading. Anything defective in regards to transaction will render your account terminated.
3.Failure To Comply With The Company’s Rules and Policies- It is rather obvious that before you even got your account at Yobit, the agreement was read and agreed upon. After all, any person who has been granted access to the trading platform must have confirmed his understanding of all terms of trading. In an instance where an individuals opts to violate the rules and regulations of the platform, account termination may come as a result.
4.Phishing- This is basically the act associated with illegal transactions in the name of stealing from others. There have been cases of phishing in crypto currency platforms before. This is one of the reasons why platforms have devised ways to curb such instances. In an instance that the agency detects possible phishing from a given account, termination is considered the best way out. This is because such an activity is seen as a threat to both the agency and the clients as well. It would be unreasonable for an agency to wait until they lose Bitcoin, Bitcoin Gold, Altcoin, or any other type of coin when the problem can be addressed from the beginning. Yobit exchange takes charge when it comes to tracking accounts that are in one way or another linked with phishing. In most cases, account termination is considered better than suspension.
5.Account Ownership Problems- Almost all crypto currency exchange platforms consider it necessary to verify clients details before granting them access to their accounts. This is done by checking the personal address, real names, and anything else that might help in confirming that the account is indeed yours. In essence all the details you provide should tally with your bank account and identification card details. There comes a time when individuals are considered not to be the real owners of accounts despite being members at Yobit.net. In such an instance, the account in question can be put on suspension or be terminated. The holder of the account may be requested to undergo fresh verification process. If the holder of the account is not able to verify, then the administration considers it necessary to terminate membership without further considerations.
There has been the feeling that the rules of account termination at Yobit exchange have not been followed fully. This is because some of the individuals who have never engaged in anything suspicious end up falling victim of termination or suspension. One of the reviewers claimed that he was not able to login to his account after logging out. This went on until he gave up. From all indications, the account was terminated under unclear circumstances. This is not the first claim of account termination or suspension, even when the clients make their deposit.
It is true that this platform has clear and justified rules on why an account can be terminated or suspended. However, the agency tends not to live by their word. It is of course important to note that clients have their rights too and it would be totally unfair for accounts to be terminated based on mere speculation or none at all. Aside from that, there should not be the limit of days that should be observed in making a withdrawal in case of crypt currency termination. Yobit exchange gives clients 14 days to make their withdrawals in such instances. This is seen as unfair since the money in question is by all rights the investor’s. No duration should deny the trader his/her money.
Android Mobile App IOS For Platform Users
Did you know that it is far much easier for traders to perform their operations using a mobile phone app IOS? Actually, majority of crypto currency agencies today have devised their own mobile application to ensure that their prospective and existing clients have the best experience as they embark on their trade. The good thing about mobile apps for Biticoin and others in the coin list exchange is that they spare the user the hustle of loading the respective websites. Obviously, it is more time consuming accessing a personal account through a website.
Yobit exchange is not left behind. Being among the few crypto currency exchange sites in operation, the administrators considered it necessary to have a mobile phone app IOS for their clients. The app has been there for quite a while now and it has benefited a lot of people so far.
It is important to note that this app is meant for android devices only. As a matter of fact, the app is designed for android 1.6 and above. Any other android device may not be compatible with the app. It is also worth noting that Apple device users are not part of the app beneficiaries. There has been speculations that the agency will device an app for Apple users in the future. However, this has remained as mere speculation and nothing more. As for now, only android 1.6 and above can make use of this mobile app IOS.
The good thing about this app is that you can access the trading platform from any place of choice. As long as you have your mobile device and there is good internet connection, you will be in a position to conduct all activities from any place of choice. Above all, it is far much convenient as compared to the normal access of personal account through the official website.
So, what does this mobile app IOS has to offer? There is a lot that you can achieve with the help of this app. First, the app allows you to access your account just like what you would have done through the website. All you need is to provide your login details (email and password) and the app will direct you to your personal account. The best thing about this is that you can remain logged in all through since you will have accessed the account through your personal account.
Aside from that, Yobit.net mobile app for android allows you to view your account balance. You will not have to look for a computer in order to confirm your account balance. All you need is to open your account and the balance will be on display. Upon making any deposit, the cumulative amount will appear in your account balance. This means that you will be in a position to confirm if your balance is correct or not.
The android mobile app IOS also allows you to view the marketing trends. From here, you can keep track of the market and identify the most ideal time to embark on trade. Just like the way market display appears in the website, you will be able to know each and everything that is taking place right from your mobile app.
It is also worth noting that this mobile app IOS also gives you the chance to analyze historical coin prices. Needless to say, the records of past coin prices are highly important in guiding your trade. For instance, you can compare the previous price of Bitcoin Gold and decide whether to trade or not. Similarly, you are also granted the chance to analyze the past and present wallet value. This is equally important in guiding the manner in which you should conduct your trade. In a nutshell, anything that can help you understand the market trends for the purpose of successful trade in the future is highly important.
It is also important to mention that this android mobile app IOS allows you to sign up with Yobit exchange without necessarily going to the official website. Upon installing the app to your mobile phone, you will be asked to choose between signing in and signing up. If you are an aspiring member of the platform, then you can easily sign up right from the application. You will be asked to provide your email address and your preferred password. A confirmation message will be sent via mail through which verification will be done. Once you have been confirmed as a new member, you will be at liberty to login to your account through the app.
Through the same mobile app IOS, you are granted the chance to import different coins. You can choose the type of coin to trade right from the same app. In addition to that, you can import user balance from the app. It is also possible to import coin information under the same. In essence, all types of importations can be done right from the android app for mobile users.
Since the inception of this mobile application, a lot of people have made use of it in trading crypto currency. The agency considered it necessary to upgrade the app for the sake of upholding convenience among users. In 2017, Yobit exchange updated the app IOS, hence making its performance better. It is therefore much better and easier operating in the app as compared to some years back.
You might be wondering is the app is for sale or not. The good thing about this app is that you will not be required to pay a dime in the name of getting one. It is available in different platforms including Google Playstore. As long as the android app IOS is compatible with your phone, you can download and install it for free.
It is rather simple to use this mobile android app. All you need is active data or Internet connection and a compatible mobile phone. That way, you will be granted access to your account where you can perform literally everything that is done via the official website.
The Coin List: Coins Accepted At Yobit.net
This platform has definitely tried a lot in ensuring that clients have long coin list to choose from. This is an ideal strategy for arbitrage purposes. You could be there aiming at buying and selling simultaneously from the coin list. If that is the case, it is absolutely necessary to understand the different types available in the coin list at the platform.
As far as diversity is concerned, this platform is definitely at its best. It is one of the platforms that have the longest coin list. Apparently, there are over 100 types of coins that you can trade under this website. This means that you have a wide variety to choose from. Among the many coins that you can consider for arbitrage include:
- Bitcoin Gold
- NXE Coin
- Among others
With such a long coin list, you are at liberty to choose the one that meets your needs in totality. It is worth noting that each of the aforementioned coins has its own value. The said value may change based on the prevailing market trends. If your intention is arbitrage, then you have absolutely no reason to worry since you have more than enough in your list of choices.
It is however important to always consider coins that are publicly known and those that have the potential to grow in terms of value. It is possible to buy from the coin list only lose value in the future or remain dominated. Coins like Bicoin and Etheruem are far much promising as compared to others. It is also important to know the withdrawal methods applicable at Yobit.net so that you can engage in trade knowing how to access your money.
Let us face one thing…crypto currency trading is more or less like gambling. This means that there is the chance of earning and losing in equal measure. However, this does not mean that you should deal with an agency that is highly questionable in terms of integrity. The idea is not overlooking the aspect of integrity but doing everything possible to mitigate the chances of losses. The last thing you would want is to lose your money to platforms that are only after reaping your bitcoin and other crypto currencies.
It is evident that there is a lot that Yobit exchange has to explain to its clients. A lot of reviews whether in Reddit or in other platforms have aired their concerns on the integrity of this platform. Majority of the comments made by the clients are negative. What does this tell you? It simply means that Yobit exchange is not just any other site that you should joke around with. If you must invest your coins in this platform, then you should be ready for the worst. After all, there have been other people before who have fallen victim of bad experiences when trading with Yobit. It is only ideal to be very careful when trading with Yobit.net