Founded in 2014 in Panama, Yobit is one of the earliest digital assets exchanges in the country and has remained at the forefront of the crypto markets. They provide traders with an intuitive trading platform for trading multiple digital currencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, Dogecoin, and others.
Yobit Review, Pros & Cons
- An intuitive web platform
- Multiple cryptocurrencies
- 24/7 client support team
- Unregulated exchange
- No MetaTrader trading platform
- Crypto trading only
- No telephone or live chat support
- No Yobit mobile trading app
In this detailed Yobit review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Yobit is is a cryptocurrency broker that offers multiple digital tokens to be traded on an advanced trading platform. Traders love the Exchange because of its wide collection of cryptocurrency pairs and security. The Exchange offers a range of favorable trading conditions, such as low commission fees of 0.2% and fast execution speeds whilst providing a 24/7 customer support team. Traders can hold their coins in compatible wallets on the platform, and there is also the ‘Free Coins’ interface on the website, which enables traders to earn free coins.
There is no regulatory information on the Exchange’s website at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
The Exchange permits traders from different parts of the world to open a trading account with them provided that doing so would not be contrary to any local law or regulation.
Some Yobit features and products mentioned within this Yobit review may not be available to traders from certain countries because of legal restrictions.
The Exchange provides traders with an intuitive and easy-to-use trading platform. It is a web-based platform and is accessible directly from the Exchange’s website without the need to download or install any additional software. The platform ensures full transparency by showing the trade history with details such as transaction time, the cryptocurrency pairing traded, and transaction type. It has advanced charts and other built-in tools to help traders maximize their experience.
Yobit Trading Tools
There are no standalone trading tools on the Exchange’s website at the moment.
The Exchange has a few educational resources in place to improve traders’ skills and knowledge, including crypto news and articles.
The Exchange offers the following digital assets: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dash, Dogecoin, and more.
Yobit Accounts & Fees
Traders are offered a single live crypto trading account option.
As broker fees can vary and change, there may be additional fees that are not listed in this Yobit review. It is imperative to ensure that you check and understand all of the latest information before you open a Yobit broker account for online trading.
The Exchange offers a client support team that can be reached via email, support tickets, and social media. The website is available in Arabic, Chinese, English, German, and Rusian to reach a global audience.
Yobit Deposit & Withdrawal
Yobit accepts the following payment methods:
- Bank transfer
- Credit/Debit cards
- Electonic payment processors
Yobit Account Opening
Opening an account is easy and straightforward; simply click on the ‘Registration’ button on the top-right corner of the Exchange’s website. Fill in the registration form with the required information, including login name, email address, and password.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
Yobit is a cryptocurrency exchange that is based in Panama and provides traders with a crypto trading platform for trading a wide variety of digital assets online. They have a 24/7 client support team and charge a competitive commission fee of 0.2% on trades. However, they are unregulated at the moment.
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.