Launched in Panama in 2014, Yobit is one of the first financial service providers to penetrate the digital currencies market of Panama. The Exchange allows traders to securely trade multiple cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, Dogecoin, and more. They offer access to an advanced trading platform and also provides a selection of trading and learning tools to enhance clients’ trading experience. The Exchange has some unique features, including a compatible wallet and the ‘Free Coins’ interface, on its website, which allows traders to earn free coins. Traders also enjoy low trading fees and a minimum deposit requirement of just $1.
Yobit Review Introduction
In this Yobit review, we will take a look at some of the most important factors worth considering when choosing a broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support, and broker regulation.
You may also wish to view my best brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my broker reviews. You can also use my free trading tool to compare brokers including Yobit.
Yobit Platforms & Tools
Trades are carried out on the user-friendly Yobit trading platform. It is the exchange’s proprietary trading platform that is loaded with useful trading tools, such as advanced charts, and more, to help traders get the best out of their trades. The platform offers a good level of transparency by showing the trade history with details such as transaction time, the cryptocurrency pairs traded, and transaction type.
It is available in the web version that can run directly on Chrome, Safari, Firefox, Edge, and other modern web browsers. It does not require any application, as you can access the platform from the broker’s website. There are no standalone trading tools on the exchange’s website.
Yobit Research & Education
Yobit provides traders with some educational resources, such as learning articles and crypto news, to improve their trading skills and keep them up to date on the latest happenings in the financial markets.
Yobit Trading Accounts
Traders are allowed to create a single live trading account with a required minimum deposit of $1. A commission fee of 0.2% is charged on trades.
Yobit Account Funding
The Exchange accepts bank transfers, credit/debit cards, electronic payment processors, and cryptocurrencies for account deposits and withdrawals. Some payment methods may not be available in specific countries, while the transaction processing time may vary depending on the payment method.
Yobit Customer Service
Yobit offers a client support team that is available 24/7 and can be contacted via email, support tickets, and social media. The Yobit website is available in multiple languages — Arabic, Chinese, English, German, and Russian — to reach a global audience.
Yobit is not regulated by any known financial authority at the moment. Some traders would not trade with an unregulated exchange because the safety of their invested funds is not guaranteed.
Yobit Review Summary
Yobit is a cryptocurrency exchange that has been in operation in Panama since 2014. They provide traders with an in-house-developed trading platform for trading several digital currencies. They also offer 24/7 client support services to assist traders. Clients are provided with a selection of trading and learning tools to enhance their trading experience. The minimum deposit required to operate an account is $1, while commission fees as low as 0.2% is charged on trades. However, there is no regulatory information on the Exchange’s website at the moment. Lack of regulation can be a warning sign to most potential traders and investors who are looking to start trading with the Exchange.
It is worth mentioning that some of the trading products and services in this Yobit review may differ or not be available to traders in some countries due to regulations. As brokers’ terms can change over time, please verify all information is up to date directly from the Yobit broker website which you can visit by using the link below.
The price of crypto-assets is extremely volatile and variations are unpredictable. The price of crypto-assets may increase or decrease very quickly. Buying crypto-assets is high risk and includes the risk of losing the total value of a crypto-assets purchase. You must act with caution and vigilance by limiting your purchases of crypto-assets you can bear to lose without putting yourself in financial jeopardy. As such, it is not recommended that you convert all your liquid assets to crypto-assets given that crypto-assets are volatile and can decrease without warning.