YoBit.net is a Panama-registered cryptocurrency trading site that was created in 2014. The exchange has few fiat financing and withdrawal alternatives because customers are not required to complete KYC or identity verification.
Thousands of trading pairs are accessible, offering a huge variety of crypto coins and tokens for trade. Users of YoBit can participate in DeFi and earn a passive income by using YoFarms, automated trading, airdrops, and investment opportunities. You can find all the information you need to decide if the YoBit exchange is good for you in CryptoVantage's assessment of the platform.
The Best Way to Create a YoBit Account
By following these steps, creating a YoBit account is simple:
Access the YoBit website.
In the upper right corner, click "Register."
Click register after providing your username, email address, selecting a password, and agreeing to the terms of service.
Make sure you use the email link they send to verify your account.
Finish the captcha.
Done! Watch a quick video and turn on 2FA as directed.
How to Deposit Money on YouBit.net Exchange
On YoBit.net, depositing and withdrawing money is actually very simple. Just carry out the actions listed below:
1- Press the wallet button.
2- Choose the coin you desire (BTC, ETH, USDT).
3- In the deposit column, press the plus sign.
4- Now the address of your deposit will appear. Whatever other wallet you are sending from, copy your address into it.
5- Within a short period of time, your coins ought to show up.
6- Simply follow the same steps but press the "-" symbol in the withdraw column to cancel.
Utilizing YoBit.net
YoBit.net makes it simple to trade cryptocurrencies and take part in DeFi. You must fill your account with cryptocurrency or USD/RUB using YoBit's payment processors before you can do anything else.
Simply find the assets you want to trade and place an order after funding your account. Trading fees are 0.2% for both makers and takers, which is inexpensive when compared to other competitors in the sector. Under the "Trade" page, you have the choice of trading manually or having YoBit automate your trades using the RoboTrade feature.
Utilizing YoFarms
You may use YoFarms right away by following these simple instructions:
Access the YoBit website.
Open your YoBit.net account and log in.
Go to the page's top and click the "YoFarm" tab.
Pick a pair of assets from the list.
Choose "Farm."
You can trade on the farming page if you don't already own each item in the pair.
Increase the pool's liquidity as desired.
Commence earning! You can redeem your prizes by clicking "Get $$$" on the YoFarm landing page.
What is Available on YoBit
Numerous crypto assets and trading pairings are available on YoBit Exchange. Over 3900 trade pairs and 400+ coins and tokens are accessible. On YoBit, a number of digital assets can be bought and sold, including:
Bitcoin (BTC)
Ethereum (ETH)
STEPN (GMT)
Dogecoin (DOGE)
Inu Shiba (SHIB)
Token USD (USDT)
USD Coin (USDC)
Terra (LUNA)
Zcash and Litecoin (LTC) (ZEC)
On the YoBit Markets Page, you can find a complete list of the trading pairs and supported assets.
YoBit's Airdrop: What is it?
YoBit exchange has a reward incentive scheme called the YoBit Airdrop. Users of the YoBit exchange can earn Fast USD (FUSD), which is the company's own currency and will start trading in June.
Users can perform a number of actions, including farming, trading, and depositing, to earn up to 4700 FUSD per day. Although prizes are handed out every seven days, the user can claim their benefits after the work is finished under the "Get $$$" option.
Operating Systems Supported
YoBit exchange is now only accessible through a web browser; no desktop or mobile applications are available.
Best Qualities
The automated trading mechanism on the YoBit exchange is called RoboTrade, to start. Users can create purchase and sell orders using established rules. Then RoboTrade will carry out deals on your behalf even if you are not present. The use of it is free.
The real-time chatbox that is visible on YoBit's home page is one of its distinctive features. Although it largely merely adds noise, it does give the transaction a hint of community.
YoFarms gives you the opportunity to take part in DeFi by boosting pool liquidity and gaining incentives. A number of pools are offered with APYs ranging from 20 to 260%. Rewards are given out every day in proportion to the liquidity you supply. The high APYs have been cited by many crypto influencers as one of the main benefits of using YoBit.
The final tool is InvestBox, which developers can use to advertise their coins. Users can deposit their complimentary coins to increase their earnings.
Possibile turnoffs
There aren't many YoBit deal-breakers. In contrast to rival services, the withdrawal costs for cryptocurrencies and fiat can be significant.
Additionally, YoBit does not have a mobile application and its customer assistance choices are fairly limited.
How safe is YoBit?
YoBit is based in Panama and has never been the victim of a hack. However, as there is no KYC requirement on the platform, it is possible that criminal actors may be using the exchange.
Users must utilize two-factor authentication in order to withdraw any money from the exchange, but other security precautions like cold storage or security audits are not mentioned by the exchange.
How do YoBit fees work?
For all of their trading pairs, YoBit levies fair trading costs. The transaction charge for both maker and taker trades is 0.2%, which is comparable to or better than many rivals.
Apart from the network cost you pay to send the transaction to the exchange, there are no deposit fees for cryptocurrencies. The other fiat ways are free, but utilizing Capitalist to fund your account carries a 1% deposit fee. Withdrawal costs for both crypto and fiat are pretty hefty. Fiat withdrawals are subject to minimum 1% and maximum 6% withdrawal fees. Cryptocurrency withdrawal costs vary depending on the coin or token, but they can be fairly costly. For example, BTC withdrawals cost 0.0012 BTC (or, at the current exchange rate, nearly $40 USD).