YoBit is a user-friendly, secure, and popular cryptocurrency exchange with a wide selection of cryptocurrencies, low fees, and features that cater to both amateur and advanced crypto users.
Launched in 2015 by a group of independent European developers, YoBit has become a popular cryptocurrency exchange incorporated in Panama.
Today, it ranks among the top ten exchanges in terms of traffic, liquidity, and trading volume.
Boasting a user-friendly design, robust trading engine, and advanced security measures, YoBit offers over 500 tradeable cryptocurrencies in more than 8500 markets.
This article will review the key features of the YoBit exchange, its background, and how it compares to other popular cryptocurrency trading platforms.
YoBit Exchange: Key Features
- Extensive cryptocurrency selection: YoBit supports over 520 cryptocurrencies in 8576 active markets, making it the exchange with the widest selection of cryptocurrencies.
- Low and straightforward trading fees: YoBit charges a flat 0.2% fee per trade, regardless of whether you’re a maker or taker.
- Advocacy for private trading: YoBit does not require forced KYC checks, making it a secure and convenient platform for private trading.
- Easy coin listing: Listing a token on YoBit requires a simple form and a 2.79 BTC fee, making it accessible for new crypto projects.
- YO token and YoBit IEOs: YoBit has its own YO token and organizes regular IEOs, allowing clients to invest in new crypto projects.
- Games and InvestBox: YoBit offers games and events like YoPony and YoPump and allows users to invest in InvestBox for steady earnings.
- Free coins: Users can earn free cryptocurrencies by completing simple tasks on YoBit.
- Fiat-to-crypto trades: As a self-regulated exchange advocating for private trading, YoBit also supports fiat-to-crypto markets.
YoBit History and Background
Founded in 2014 by European developers, YoBit was announced on the BitcoinTalk forum in January 2015.
Today, the exchange is incorporated in Panama and supports multiple languages. Despite rumors and attacks by competitors, YoBit has maintained its legitimacy and grown into a popular international exchange, ranking among the top ten exchanges in terms of trading volume, traffic, and liquidity.
YoBit Exchange Supported Countries
YoBit is a global exchange with no specified user restrictions based on jurisdiction. However, users from jurisdictions where cryptocurrency trading is prohibited should consult a local legal expert before trading on the platform.
YoBit Registration and Verification
Registration on YoBit is simple and requires only a username, email, and strong password. Identity verification is 100% optional, and users can trade without revealing their identity. It is recommended to activate 2-factor authentication (2FA) for added security.
YoBit charges a fixed 0.20% fee per trade, with no trading volume-based fee tier system. This makes the platform slightly more expensive for high volume traders but comparable to other popular cryptocurrency trading platforms for low volume retail traders.
YoBit has maintained a clean track record concerning hacks and security breaches over its five years of operation. The exchange’s team has implemented robust security measures to protect users’ funds, and it strongly recommends using 2FA to secure accounts.
YoBit is a robust and user-friendly crypto trading platform best suited for experienced retail traders. However, beginners can also benefit from its clean interface and built-in messaging system for community support. By respecting the value of privacy and confidentiality in crypto trading, YoBit has become a popular and reliable exchange in the cryptocurrency world.