There are few cryptocurrency exchanges that have managed to hold their heads high in the cryptocurrency industry. One of them is the Panama-based exchange, Yobit. Founded in 2014 by a group of European developers and crypto enthusiasts, Yobit is registered in Panama as YoBiCrypto Corp. It is one of the few exchanges that have never been hacked despite the widespread attacks which have affected even top exchanges.
The exchange is built on simplicity and provides an environment where traders can trade comfortably and with ease. First, it has a great user interface that users will find very homely for their trading activities. They can execute sell and buy orders as well as view their trading history all on just one page.
Yobit places the interest of traders first, and so has a number of great features that respect their privacy and make trading much more convenient than on other exchanges. These features include:
One of the greatest challenges facing the cryptocurrency industry and indeed the digital space is lack of privacy. Internet users deserve privacy which also guarantees their security as they use the internet. Yobit understands this and has incorporated this feature of anonymity into the exchange so that traders can trade without being traced as they do not have to reveal their identities.
Users don’t have to provide any data about themselves as they can trade without any KYC requirements at all. The exchange also does not store any information about users, thus giving them the privacy and freedom they deserve to trade securely anytime they want to.
Large number of trading pairs
Yobit believes in giving everyone an opportunity to trade their favorite cryptocurrencies. Because of this, it has a wide variety of trading pairs that cater to the needs of every trader. This involves altcoins including the ones that are considered to be unpopular. The exchange has well over 8,000 trading pairs that leave no altcoins out.
This makes it an exchange for everyone regardless of what they want to trade, unlike many exchanges that only allow trades for a select few crypto assets.
The exchange doesn’t only support thousands of cryptocurrencies but also supports fiat currencies, mainly the USD. Almost every of the listed cryptocurrencies can be traded against the USD, making it more flexible for those with USD to trade without having to convert to cryptocurrencies.
An integral aspect of trading is the ability to withdraw profits made at some point. This is where the Yobit cryptocurrency wallet comes in handy. Users don’t have to withdraw to a third-party wallet that may be insecure and could threaten their funds. From the wallet which is also on the websites, users can make deposits as well as withdrawals easily and conveniently without having to copy addresses to and from the website during these processes.
Competitive fees and various deposit and withdrawal methods
Yobit supports a range of deposit and withdrawal methods. This includes Qiwi, PerfectMoney, Payeer, AdvCash, Visa/Mastercard, Webmoney, and Mobile Phone. Deposit or withdrawal fees depend on the method of deposit or withdrawals as well as the currency involved.
The commission fees are also very competitive. Yobit operates a flat-fee model that charges 0.20% of the trade whether it is purchasing or selling of assets. This is below the industry average of 0.25%.
To sign up on Yobit, all you need is a username, email address, and password. No further information is requested after this and you can commence your trade immediately.
Large community and 24/7 support
Yobit has a large community of over 80,000 members on its Telegram group. Such a large community is evidence of the reliability of the exchange. Support can be gotten through this group or by sending a private message to at least 10 admins online at any time.
Several positive reviews
Another evidence of Yobit’s reliability is the number of positive reviews the exchange has gotten on many top websites. This includes Trustpilot and Cryptowisser. It has also gotten top ratings; 8.2/10 rating on prominent crypto website Blockonomi, 4/6 rating by crypto influencer Boxmining, and 8.6/10 rating by top crypto website Crypto Potato.