Yobit was started in 2015 in Russia. The digital currency exchange platform was launched on the BitcoinTalk forum from where it garnered the interest of bitcoin traders. It supports trading in over 250 cryptocurrencies. Multiple security features integrated into the platform offer superior security.
Sophisticated security features
Supports high volume trading
Multilingual to cater to its extensive customer base
Ongoing Russian investigation
Numerous complaints about the platform
The website is multilingual to cater to Russian, English and Chinese traders. It has a simple, easy to navigate user interface with well-streamlined mouse motion coordination. Yobit provides a trading chart to keep members up to date with market trends as well as new digital currencies. However, at times the charts are outdated.
Payment methods, deposits and withdrawals
Yobit supports preferred deposit methods including Okpay, Payeer, AdvCash, Perfect Money and Capitalist. Deposits are free for all options apart from Payeer that charges 2% on the amount deposited.
Yobit.net has an easy to follow verification which once completed sends a confirmation email to the trader’s email account within five minutes. Ones the trader confirms the confirmation email they can start to make deposits, withdrawals and other transactions immediately.
The platform incorporates multiple security features. Upon registering, users are required to install Google Authenticator that validates all transactions fast. Individuals can switch to 2-factor authentication under the settings tab. Additional Yobit security features are file system encryption, SSL, anti-DDOS, an intelligent blocking system for suspicious activities on the platform as well as cold and hot wallets. Every transaction is allocated a unique transaction code usually referred to as Yobi Code.
Yobit only accepts USD as fiat currency. It supports USD-Bitcoin transactions. Bitcoins are used to trade against the other cryptocurrencies allowed on the platform. These are Bitcoin Cash, Ethereum, Dash and Doge among others.