The basics of crypto trading
A prospective exchange Yobit offers traders and investors to use more than 900 currency pairs based on 564 tokens in their work.
The Yobit exchange is becoming more popular each trading day thanks to a wide choice of financial instruments.
The Yobit exchange is a cryptocurrency platform which is available at yobit.net. On the pages of the website, a user won’t find information about the company, its owners, developers and other people who maintain the trading platform’s functionality. The official site has a simple, most informative interface. The main page is filled with different informers which are available to a visitor without signing up and entering a personal account. The interface is translated into three languages: Russian, English and Chinese.
The network resource is available to Internet users since 2014, that’s why a lot of people consider this date to be the date of the company’s foundation. The domain is registered on 25 August and is presented in both global and national ratings by Alexa. Since 2018 Russia has been determined as its location. The resource’s owners rent a server in the USA.
Some people consider the Yobit project to be Ukrainian with a primary focus on CIS public. Availability of a Russian localization of the site, an electronic version of RUR, speedy helpdesk interaction has made the resource popular among Russian-speaking traders. Eventually, its functioning has been extended to users from the USA, India and China. Now it takes one of the leading positions on the cryptocurrency market with a minor average daily trading volume.
A user online chat is available on the Yobit exchange. Communication with maintenance staff is possible only via the “Support” section of the site. A request is responded within 24 hours. Currently, the company is promoting its services actively through search engines and social networks. There is an official community on Twitter. Anyone can join it.
A new cryptocurrency called Liza appeared on the exchange at the beginning of December 2017. Only Yobit clients can use it exclusively as an investment instrument. Most specialists have been sceptically disposed towards the appearance of this cryptocurrency calling it “a pseudo cryptocurrency”. Apart from that Liza is popular among speculators who make money on short-term deals.
Many traders and experts of the cryptocurrency market consider the Yobit cryptocurrency exchange a potent trading platform which is suitable for a full-value work with various electronic currencies. A great choice of financial instruments and profitable trading conditions has already raised it to the top 10 most successful network resources which provide access to cryptocurrency trading. According to professional investors and analysts, the next two years Yobit will continue to gain popularity, increase its trading volume and will become a leading platform which offers a unique set of functions.
The service is already drawing the attention of professional traders from different countries due to its wide opportunities and a comfortable working environment. New cryptocurrencies often become initially available for purchasing and selling exclusively on this platform and only later they appear on other resources. Here traders can even deal with currencies which are in an ICO phase. Only on the Yobit exchange, it’s possible to get all necessary information for analysis and forecasting without preliminary registration and signing in to the system. A qualitative approach to creating optimal trading conditions on the cryptocurrency market is key to successful development.
The success of the cryptocurrency exchange in the nearest future can be ensured through unique solutions. The appearance of a new financial instrument called Liza can serve as a reason for the emergence of a significant number of speculators on the platform who are interested in fast earnings. The value of this currency has stabilized recently, so it has started to draw the attention of long-term investors. Many experts think it has a prospective future just like the Yobit cryptocurrency platform.
At first, it’s necessary to sign up and replenish the trading account. Registration is an ordinary filling of an online form followed by sending the data to the server. A user may enter any data as the company’s employees won’t verify it. Any e-mail address which is available for incoming letters can be used. After completion of the registration, it’s necessary to confirm it by following a link from a received e-mail. Verification is not required.
The absence of verification of users’ personal data doesn’t affect the possibility of restoring access to an account due to the loss of some information. It also doesn’t affect the working conditions on the trading platform.
Even a novice participant of the cryptocurrency market will understand how to trade. The developers have done everything possible so the client can conduct transactions without studying features and subtleties of working with the trading platform. While creating an order the system suggests close variants to let trader just choose the suitable one and make a deal with necessary parameters. To open a position on the Yobit exchange an indication of the amount of proposed and received tokens is required. When any field is filled, other fields will be filled by the system automatically according to quotes and commissions. Transactions are conducted instantly. Active and closed deals can be seen in “Orders” and “History” sections respectively.
It’s difficult to assess the trading platform on the basis of its users’ feedback. For example, some of them consider the absence of verification a minus as, from their point of view, it reduces a level of security, while the others consider it a plus as it helps to ensure anonymity. Some traders are sure that the trading platform is too overwhelmed with informers, and others think that there is nothing redundant. Pros and cons should be determined independently according to the features of the exchange’s functioning.
The Russia-based crypto exchange, YoBit, has implemented a pump scheme with random coins. Both pump and dump schemes are a fraud type attempting to artificially raise the asset price by misleading or falsing recommendations. With the scheme in place, the developer has increased system security and reliability. Apart from announcing the pump scheme, the exchange also shared the information about a countdown clock for a “YoBit pump” on its webpage.
YoBit is a Russia-based exchange of digital currency founded back in 2015. The platform offers access to a big number of digital coins. The trading platform was mentioned in the headlines in multiple reports of suspicious activity and issues with users trying to cash out money from their wallets. At the moment, YoBit’s trading volume is around $29 million per day, according to the data from CoinMarketCap.
YoBit - a scandalous exchange was once again seen in a notorious light in June 2019, as it went pursuing a Russian blogger who was accused of spreading fake news about the exchange. The representatives of the exchange even offered a bounty of 1 BTC for any information that can be found about the whereabouts or real identity of the blogger. The tweet posted by YoBit on the 21st of June, 2019 is no longer available and was deleted.
The situation happened after a YouTube blogger ValeraTV posted a new video. In it, ValeraTV reads the comment of the forum user, who in turn reports that YoBit "closes all inputs/outputs, and this is very similar to the scam." Other commentators argue that "you can withdraw in Zcash."
At the same time, the author of the channel draws a parallel with the situation on the WEX exchange shortly before the termination of payments. “Run from exchanges! Especially when such an incomprehensible situation develops,” says ValeraTV.
It’s necessary to remind that not so long ago the Federal Service for Supervision of Communications, Information Technology and Mass Media that is also known as Roskomnadzor has blocked the web-address of the exchange.