reviewURL: yobit.io

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.

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Score - 6.8Score6.8
Score Android - Score Android
Score iPhone - Score iPhone
Location - RussiaLocationRussia
Currencies - USD, RURCurrenciesUSD, RUR
Languages - EN, RU, CNLanguagesEN, RU, CN
Buy with - USD, RURBuy withUSD, RUR
Fees - 0.2%Fees0.2%
Altcoins - YesAltcoinsYes
Margin trading - NoMargin tradingNo (Exchange does not support margin trading)
Trust score - BTrust scoreB
Beginner friendly - NoBeginner friendlyNo (Exchange is complex and difficult for beginners)
Stability - 3. MuchStability3. Much (Exchange is stable, but it has a downtime in the high stakes)
Fiat - YesFiatYes (The Exchange supports Fiat currency as USD, EUR, etc.)
Support speed
API - NoAPINo (The Exchange does not have an API)
Rest API - NoRest APINo (The Exchange does not have an API)
Websocket - NoWebsocketNo (The Exchange does not have Websocket)
Mobile app - NoMobile appNo (Exchange does not have a mobile app)
Credit card - NoCredit cardNo (Exchange does not support credit cards)
Referral - NoReferralNo (Exchange does not offer an affiliate program)
Two factor authentification - YesTwo factor authentificationYes (The Exchange supports two factor authentication)
Withdrawal limit
Verification time
Lending - NoLendingNo (Exchange does not support lending)
Stop limit - NoStop limitNo (Exchange does not support stop limit)
US licence - NoUS licenceNo (Exchange don't have US licence for Money transmitter)
PGP support - NoPGP supportNo (Exchange does not have PGP encryption)

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 -

  • It is a delight for seasoned traders and experts, who want all the information consolidated at one screen. You do not have to slide left to right, or up-down, the entire information is present only on the home-screen in panels.
  • It provides its users with YobiCodes. Now we will explain what these mysterious codes are. YobiCodes are basically a code of recharge, a unique feature listed by Yobit exchange for their users. This feature allows the users to either redeem or auction YobiCodes to other users on chat. You need to press 'Give Code' button, enter it on the website after which you will receive balance of cryptocurrency in your wallet. Sometimes the balance is small and you might not necessarily receive the reward in Bitcoin every time, but some users have claimed to receive 0.1 BTC as well! That's how rewarding it can get.
  •  The cryptocurrency deposit/withdrawal is instantaneous. If you are depositing cryptocurrency from an existing wallet to Yobit or you are transferring cryptocurrency from Yobit to another wallet, it will happen as quick as it can. Bitcoin transfers however might be time-consuming because of the congestion on the network. But otherwise, the transactions happen quick.
  • There are many ways of buying cryptocurrency on Yobit. You may either use your debit or credit cards to purchase crypto-assets, or you may also use bank transfers or international wires. They also accept many mobile wallets like - QIWI, Payeer, PerfectMoney, AdvCash, WebMoney etc.


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 -

  • As discussed earlier, it is under investigation by Russian authorities, who also threatened to black-list and block the website from Russia completely. The claims might not be accepted by Yobit or their managing-team, but a move as such, is enough to scare investors and user far away.
  • The biggest disadvantage of Yobit is that it does not allow any other deposit apart from USD or RUR. If you are someone who does not own either of the currencies, you might have to spend heavily on converting your national currency into USD or RUR first, before you can buy anything on Yobit.
  • Another downside of Yobit is that listing a new coin on their platform can happen with the blink of an eye. This makes it dangerous, as there might be hundreds of unreliable and fraudulent coins listed on Yobit. You cannot trust every coin you find on Yobit, because they hardly do any hard-verification before allowing the users to trade in that cryptocurrency.
  • The interface is not friendly for newbies or first-timers, and is rather very confusing. It has an extensive learning curve, and you will have to spend hours on the platform to understand the functioning, before investing your money in it.

Manuals for YoBit

Review of YoBit

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.

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