Yobit: liquidity problem

[Wiseman]

You may be right in that they did not rise in the graph in terms of popularity in terms of volume among others, but it brought me very good money and I earn it there every month and I am grateful to them that they give us such an opportunity.

How do you profit on Yobit? Please share for everyone's reference, perhaps we have missed something important on Yobit.

Let me put it simply, this exchange is not for everyone and not for standard earnings, Yobit is very good at raising money on their projects that are naturally not backed up by anything, but these are ordinary shieldcoins that are pumped up in price, but the exchange can support them even for years, for example, I’m a year and a half a year ago I bought sneakers there for $5,000, paid for them in 1 month and after that I have been receiving income from them for a year and a half, there are many such examples, with this example I will attach a screenshot of my account so that everyone understands that I did not come up with it and that I am ready to invest in Yobit thousands of dollars, as I have been doing for 7 years



I do not rule out the fact that this is always a small risk, but all cryptocurrency and especially trading on exchanges are also risks and for an ordinary person this risk is completely unacceptable since he will consider it unjustified, but we cryptans are already accustomed to this)) and that’s the only way we can earn

[electronicash]

^ cool you still keep earning, and you got back your capital already. how long do you think it will keep going? it looks like the model is not going to live for a long time.

I had to check a few tokens and finally decided to withdraw in DOGE. Withdrawal fee for DOGE from Yobit is 30 DOGE ~ $2.4, cheaper than 5 USDT = $5 or 0.1 BNB = $30. TRX is also a good suggestion because TRX withdrawal fee is only 10 TRX ~ $1. I strongly recommend everyone to withdraw funds as TRX to save frees.

Another big problem is Yobit responds very slowly to each of my interactions. My patience has been well tested at Yobit 

Yobit does not have Proof of Reserves, so we cannot know the exact status of Yobit storing users' crypto assets. Hope everything will be OK!

The problem is that the Yobit team never bothered to update the withdrawal fee constantly. So, some withdrawal fees now look pretty inadequate because of this.
However, some coins still have a withdrawal fee even less than the TRX withdrawal fee. For example, the WAVES withdrawal fee is only 0.002 WAVES ($0.005), and the ZEC withdrawal fee is 0.03 ZEC ($0.71).

so they still update the fee of some coins but not BTC. i can understand WAVES since the developer is their own Sasha. but last time i used them the BUSD withdrawal is still $0.50 still cheap to me.

[dwyane36]

so they still update the fee of some coins but not BTC. i can understand WAVES since the developer is their own Sasha. but last time i used them the BUSD withdrawal is still $0.50 still cheap to me.

As you may know, Paxos stopped minting new BUSD last year, and Binance stopped supporting this product on December 15. As a result, BUSD was delisted from many centralized exchanges, including Yobit. If you go to the Yobit website now, you won't find this token in the wallets tab, as well as you won't find any trading pair with BUSD in the market tab. So, the BUSD withdrawal fee of $0.5 is not relevant now.

[Wiseman]

^ cool you still keep earning, and you got back your capital already. how long do you think it will keep going? it looks like the model is not going to live for a long time.

I'm not calling to buy these sneakers now, I just showed that you can earn there and initially you need to get your money back and then make a profit, I think that for them these sneakers is a kind of chip that you can brag about and most likely they will support them for some time, how long I can not know, while I give them to take).

[MrSpasybo]

Yobit use to promote in bitcointalk with their signature campaign. they do have a system where anyone can join and get paid automatically with their system. they however have failed to solve issues and being labeled as scam by users in the forum. most probably because of the pump and dump co0ins they have and the wallets that are under maintenance for years.

changing the UI will just make the old users lost. they are known for that color and interface. its like their brand.
this exchange is got to be the oldest by far that i have tried and the rest that come out along with yobit died already such as cryptopia, bittrex, cryptsy, yobit stays strong and they even have the segwit wallet.

I was very surprised that Yobit was very generous when advertising on Bitcointalk, they also linked up with no other CT and developed a separate reward token called TALK but it was not really effective because the TALK token did not have any use value.
Yobit should use the money more efficiently, at least improving UI/UX, or at least making things faster and smoother. I don't think old users like the slowness.

The problem is that the Yobit team never bothered to update the withdrawal fee constantly. So, some withdrawal fees now look pretty inadequate because of this.
However, some coins still have a withdrawal fee even less than the TRX withdrawal fee. For example, the WAVES withdrawal fee is only 0.002 WAVES ($0.005), and the ZEC withdrawal fee is 0.03 ZEC ($0.71).

Thank you very much, I didn't know about this, I was completely disappointed that Yobit doesn't regularly update withdraw fees to make it easy for users to track, or at least I tried looking but only found out-dated fees.
Right now, I follow Yobit withdraw fees here: https://coinmarketfees.com/exchange/yobit

Let me put it simply, this exchange is not for everyone and not for standard earnings, Yobit is very good at raising money on their projects that are naturally not backed up by anything, but these are ordinary shieldcoins that are pumped up in price, but the exchange can support them even for years, for example, I’m a year and a half a year ago I bought sneakers there for $5,000, paid for them in 1 month and after that I have been receiving income from them for a year and a half, there are many such examples, with this example I will attach a screenshot of my account so that everyone understands that I did not come up with it and that I am ready to invest in Yobit thousands of dollars, as I have been doing for 7 years

Honestly, I don't understand Yobit's business model, and I don't trust its sustainability. Sorry this is just my personal and subjective feeling. I hope you will continue to earn money from Yobit's programs.

[kulkhan]

Actually Yobit exchanger is good exchanger. I am trading on Yobit since 2016. And i saw this exchanger is good. No any unusual coincidence or activities found here. I think  good time and bad time too nearest  for any 3. We know that Youbit faching some crisis. Now Youbit Liquidity is bery low i also think this problem will be solved within short time. Few years ago Yobit exchanger was famous exchanger. I think it will get back it’s reputation Again.

In the year of 2019 i attended in a Airdrop and i were win and i get huge money. I think in future Yobit will overcome this crisis and will more popular.

[Wiseman]

Let me put it simply, this exchange is not for everyone and not for standard earnings, Yobit is very good at raising money on their projects that are naturally not backed up by anything, but these are ordinary shieldcoins that are pumped up in price, but the exchange can support them even for years, for example, I’m a year and a half a year ago I bought sneakers there for $5,000, paid for them in 1 month and after that I have been receiving income from them for a year and a half, there are many such examples, with this example I will attach a screenshot of my account so that everyone understands that I did not come up with it and that I am ready to invest in Yobit thousands of dollars, as I have been doing for 7 years

Honestly, I don't understand Yobit's business model, and I don't trust its sustainability. Sorry this is just my personal and subjective feeling. I hope you will continue to earn money from Yobit's programs.

Nothing surprising, this model is not understood by many))) this is because it is made for those who do not understand the usual trading, I understand but I also understand how everything works there, Yobit is engaged in attracting and earning mainly on the principle of airdrop, they can not compete with the big exchanges so they took this position.

[dwyane36]

Thank you very much, I didn't know about this, I was completely disappointed that Yobit doesn't regularly update withdraw fees to make it easy for users to track, or at least I tried looking but only found out-dated fees.
Right now, I follow Yobit withdraw fees here: https://coinmarketfees.com/exchange/yobit

This site looks good for finding the minimum withdrawal fee for a particular coin and comparing it with other exchanges. However, I noticed that there are some small inaccuracies. For example, this site indicates that the LTC withdrawal fee on the Yobit exchange is 0.002 LTC, but it is not so. In fact, the LTC withdrawal fee on the Yobit exchange is 0.02 LTC, i.e. 10 times more.

[Wiseman]

This site looks good for finding the minimum withdrawal fee for a particular coin and comparing it with other exchanges. However, I noticed that there are some small inaccuracies. For example, this site indicates that the LTC withdrawal fee on the Yobit exchange is 0.002 LTC, but it is not so. In fact, the LTC withdrawal fee on the Yobit exchange is 0.02 LTC, i.e. 10 times more.

This was at the time when you wrote (the commission for withdrawal of LTC is 0.02 LTC), they can change the commission, this is a way of holding some coins, they do this several times a year and this of course infuriates many)) but if you use ingenuity then You can always find a way to withdraw funds in another currency or cryptocurrency, for example, several times a year they make free withdrawals to the Peer wallet in fiat currency rubles, you just need to think a little and you can always withdraw at a more favorable rate, I always withdraw using almost calculation algorithms to also make money on it)))

[MrSpasybo]

This site looks good for finding the minimum withdrawal fee for a particular coin and comparing it with other exchanges. However, I noticed that there are some small inaccuracies. For example, this site indicates that the LTC withdrawal fee on the Yobit exchange is 0.002 LTC, but it is not so. In fact, the LTC withdrawal fee on the Yobit exchange is 0.02 LTC, i.e. 10 times more.

Maybe the data on the websites is outdated, Yobit changes withdraw fees too often, which will make users confused, even angry. I think Yobit want to prevent users from withdrawing money from Yobit exchange to continue collecting transaction fees.

You can always find a way to withdraw funds in another currency or cryptocurrency, for example, several times a year they make free withdrawals to the Peer wallet in fiat currency rubles, you just need to think a little and you can always withdraw at a more favorable rate, I always withdraw using almost calculation algorithms to also make money on it)))

I have never tried this feature, there are many interesting things about Yobit that I learned from you.
If you have free time, please write more topics about making money and tips on Yobit for AltcoinsTalks community to refer to.

[Wiseman]

You can always find a way to withdraw funds in another currency or cryptocurrency, for example, several times a year they make free withdrawals to the Peer wallet in fiat currency rubles, you just need to think a little and you can always withdraw at a more favorable rate, I always withdraw using almost calculation algorithms to also make money on it)))

I have never tried this feature, there are many interesting things about Yobit that I learned from you.
If you have free time, please write more topics about making money and tips on Yobit for AltcoinsTalks community to refer to.

It's like talking about bundles for arbitrage, today one works and tomorrow not, on YoBit often happens that the price is very different from other exchanges and I use it when I need to withdraw money in fiat, I do not try to accumulate a lot of money in one place and so once a month withdraw profits and what coin was a month ago more profitable to buy and sell with a profit in this may not make any difference.

[MrSpasybo]

It's like talking about bundles for arbitrage, today one works and tomorrow not, on YoBit often happens that the price is very different from other exchanges and I use it when I need to withdraw money in fiat, I do not try to accumulate a lot of money in one place and so once a month withdraw profits and what coin was a month ago more profitable to buy and sell with a profit in this may not make any difference.

Yobit is both a CEX and a DEX, and has its own token, but that token is not listed anywhere and its price is not reduced in the trading pair with BTC 😆

Yobit is a very special exchange, there will be many interesting things that we need to pay attention to in the future. But at least I don't have too many assets left on Yobit, I think Binance or GateIO will be simpler and easier to use for me!

[Wiseman]

It's like talking about bundles for arbitrage, today one works and tomorrow not, on YoBit often happens that the price is very different from other exchanges and I use it when I need to withdraw money in fiat, I do not try to accumulate a lot of money in one place and so once a month withdraw profits and what coin was a month ago more profitable to buy and sell with a profit in this may not make any difference.

Yobit is both a CEX and a DEX, and has its own token, but that token is not listed anywhere and its price is not reduced in the trading pair with BTC 😆

Yobit is a very special exchange, there will be many interesting things that we need to pay attention to in the future. But at least I don't have too many assets left on Yobit, I think Binance or GateIO will be simpler and easier to use for me!

I stopped trusting Binance, as funny as it may sound but I'd rather trust my money to Yobit, they have never restricted anyone, on GateIO I never traded at all, there were a couple of times that I sold some tokens there and that's it, I agree with you that you should trade on exchanges where there is liquidity but I am now a little bit away from frantic trading and prefer measured.

[MrSpasybo]

I stopped trusting Binance, as funny as it may sound but I'd rather trust my money to Yobit, they have never restricted anyone, on GateIO I never traded at all, there were a couple of times that I sold some tokens there and that's it, I agree with you that you should trade on exchanges where there is liquidity but I am now a little bit away from frantic trading and prefer measured.

What makes you trust Yobit more than Binance and GateIO?
Do you have a sad story with Binance in the past? Or are you worried that your account will be frozen for no reason and without notice in the future?

In Vietnam, the majority of users started their crypto journey with Binance and have stayed with Binance until now. We are satisfied with the services, liquidity and support from Binance. Those are things I haven't found on Yobit until now 😭

[electronicash]

I stopped trusting Binance, as funny as it may sound but I'd rather trust my money to Yobit, they have never restricted anyone, on GateIO I never traded at all, there were a couple of times that I sold some tokens there and that's it, I agree with you that you should trade on exchanges where there is liquidity but I am now a little bit away from frantic trading and prefer measured.

What makes you trust Yobit more than Binance and GateIO?
Do you have a sad story with Binance in the past? Or are you worried that your account will be frozen for no reason and without notice in the future?

In Vietnam, the majority of users started their crypto journey with Binance and have stayed with Binance until now. We are satisfied with the services, liquidity and support from Binance. Those are things I haven't found on Yobit until now 😭

i think one of things that makes yobit worthy using is that even when they ask KYC, they don't enforce it to someone who doesn't want to unlike binance or any other exchange asking KYC documents despite how little your BTC in your account.

this is still one of the exchange that doesn't ask KYC.  it still work like 10 years ago. although price is a little different, the exchange is the way it was and the trollbox is still there.