Yobit is an exchange that offers trading in hundreds of altcoins. It’s not as well-known as some of the other exchanges, but it has a lot to offer and it can grow with your needs. In this Yobit review, we’re going to cover what Yobit is, Is this exchange legit and safe?
This exchange is perfect for those who want to access small altcoins and grow their portfolio by trading them in a large volume. This site offers low transaction fees, great security features, multiple language support, and more.
Are you finding out about the Yobit exchange for the first time? Are you wondering if Yobit is a scam or legit? Is it safe to trade on Yobit?
Yobit is a cryptocurrency exchange, which means that you can use it to trade your fiat currency for some of the major cryptocurrencies, including bitcoin, Litecoin, and Etherium.
There are many cryptocurrency exchanges out there. Some of them are really good. Others are scams. If you’re not careful, you might find yourself investing real money into something that turns out to be a scam.
If you’re wondering whether Yobit is legit, continue reading this review. I’m going to do my best to cover everything that I think is relevant to deciding whether or not you should trust Yobit with your money.
Services Offered By Yobit
YoBit is one of the most popular exchanges with a lot of altcoin trading pairs. YoBit has been around since 2015 and has not had any major hacks, which is something to be commended. A lot of exchanges have been hacked in 2017, but Yobit has done a great job at protecting its users.
Yobit is a platform that provides a wide range of services for the global digital asset market. The platform offers a number of solutions for cryptocurrency trading, including the ability to trade pairs with fiat currency. Yobit provides users with a platform to trade more than 190 cryptocurrency pairs, including BTC, ETH, LTC, and DOGE.
Leverage AtYobit
Yobit offers leverage up to 1:1000 for users who would like to trade in the forex market or trade binary options with cryptocurrencies. It supports USDT (Tether) trading which means that you are able to deposit or withdraw funds by using USDT instead of Bitcoin or other cryptocurrencies. It supports Tether’s full reserve audit which ensures that all Tethers in circulation are backed by assets in the bank account.*Yobit has constant updates on the website regarding new coins being introduced on their exchange and also maintains an updated list of other exchanges where you can buy your favorite coin against Bitcoin (BTC).
The exchange does not accept fiat currency deposits so you have to purchase BTC or ETH from another platform and transfer it over. They do have beginner-friendly tutorials for setting up accounts and purchasing Bitcoin on Coinbase and LocalBitcoins. There are a few different options for buying coins on YoBit, including straight purchasing with your credit card, as well as margin trading. If you want to trade high volumes or want advanced features like stop-loss orders, you will need to verify your account.
YoBit is based in Russia and usually has very low withdrawal fees compared to other platforms. The exchange offers 2FA which is an added security feature that most exchanges do not offer. All in all, I love Yobit, they have been around for a while now and they are not part of any pump and dump scams like a lot of the newer crypto exchanges out there today.
Is Yobit Legit Safe To Trade On Yobit?
Is Yobit legit and safe? The answer is yes. It is one of the most stable and robust cryptocurrency exchanges in the world. It offers a huge variety of cryptocurrencies to its users and supports more than 190 cryptocurrencies. Yobit also has a very low withdrawal fee, which makes it easier for its users to trade their crypto assets without any hassle. For more information visit the Traders Union website.
Tether (USDT) is one of the most popular cryptocurrencies on this exchange. Moreover, it is a stable coin that maintains a 1-to-1 peg to the U.S. dollar and it is get back by real money in a bank account for security purposes. Tether (USDT) is use on other exchanges as a proxy for fiat currencies such as the U.S dollar, Euro, Chinese Yuan, etc.
Yobit exchange also offers different bonus programs and giveaways to its users who are willing to spend some time on the platform or refer new members to the platform.
It doesn’t require KYC verification for withdrawal of funds from their platform,]. Which makes it attractive to almost all kinds of users. Who do not have time to go through the tedious KYC verification process offered by other exchanges.
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