Yobit.net is a Russia based cryptocurrency exchange that is famous for its controversial nature. They have an on-going investigation by Russian authorities regarding fraud claims. That's not all, Yobit Russian Investigation, has become one of the most searched keywords online, when people try to look up 'Yobit' on Google.
But Yobit executives and officials denied accepting any of the claims as true, and rather blamed it on EdinarCoin, another cryptocurrency exchange operating in Ukraine. Whatever the truth maybe, it did shake the trust of its users and investors for a bit.
Yobit was founded in Russia, and was introduced to the world in Bitcoin talk forum in 2015. Not much information is available about their founders. They have many cryptocurrencies on their exchange, including - Bitcoin, Ethereum, Litecoin, Dogecoin, DASH, Vertcoin etc. and they also have their own coin called YOVI coin (Yobit Virtual Currency).
Apart from this, they also have USD (United States Dollar) and RUR (Russian Ruble) as two fiat currencies listed on their portal. They do not allow deposits in any other currency, but these two. The first look at the home-page of their website will take you to a complex and tough to understand exchange.
The top-bar has a list of menus, out of which many are confusing, for example - InvestBox. Most of the users won't have any idea of what an InvestBox is, and what its features are. They have a dice-game featuring Bitcoin, on bottom-right side of the home-page.
Apart from the dice game, they also have YobiCodes. We will talk about them in the next section of this review, but one thing that can be said for certain is that - the interface needs a proper go-through and learning, especially from a newcomer's point of view. You just cannot expect a first-timer to come and start trading on Yobit smoothly.
Yobit cannot be criticized for its tough to use interface or controversial reports, it does have some positive features that cannot be overlooked. This Yobit Review aims to provide a clear picture about the exchange. Some of the upsides of Yobit are -
Yobit has many advantages and features that other cryptocurrency websites do not. But this does not make it an ideal platform for everyone to trade in. To complete this Yobit Review, let us also glance at some of its disadvantages -
Yobit is not the ideal cryptocurrency exchange for someone who wants to invest his money in it, because of the recent news and controversies it has been a part of. Before investing, every user must complete his due diligence, and do proper research on his part. Considering this Yobit Review, we have tried to cover every aspect of this Russian cryptocurrency exchange. It has a lot of room for improvement, and it must start with solving customer-issues quickly.
|Rank||Site||Margin trading||Fiat||Safety||API||Referral||Location||Languages||Buy with||User Vote||Score|
|1||A||San Francisco, USA||EN||bank transfer, card|
|3||A||No||Hong Kong||EN||EUR, USD|
|4||No||A||Europe||EN, CZ, SK||USD, EUR|
|5||A||No||San Francisco, California, United States||EN||USD, EUR, JPY, CAD|