Altcoins Talks - Cryptocurrency Forum

Cryptocurrency Ecosystem => Crypto Exchanges => Yobit => Topic started by: MrSpasybo on January 15, 2024, 12:29:19 AM

Title: Choose tokens to withdraw crypto assets from Yobit
Post by: MrSpasybo on January 15, 2024, 12:29:19 AM
I use Yobit from 2017, it is a popular cryptocurrency exchange that offers a wide range of trading pairs and features. However, it is important to be aware of the fees charged by the exchange before we start using.

Trading Fees: Yobit's trading fees are 0.2% for both maker and taker orders. This means that you will pay a 0.2% fee on every trade you make, regardless of whether you are the one placing the order (maker) or the one taking the other side of the order (taker).

Deposit Fees: Deposit fees are free for all cryptocurrencies on Yobit. This means that you will not be charged any fees to deposit funds into your Yobit account.

Withdrawal Fees: Withdrawal fees vary by cryptocurrency on Yobit. However, they are typically dynamic and based on the current network conditions. This means that the fee you pay may vary depending on the time of day and the congestion of the network.

I don't have any complaint about Yobit's deposit and transaction fees, but withdrawal fees are actually quite high and can seriously affect users' trading profits. For example, BTC withdraw fees are 0.0012BTC ~ $50, I was shocked when I checked because BTC withdraw fees on other CEXs are only about $13. To be honest, I had to give up Yobit because of many problems, one of which is too expensive withdraw fees  :'(

Therefore, when you want to withdraw assets from Yobit, I recommend that you choose the token with the lowest withdrawal fees in $, and have a bit of good liquidity to easily buy and sell without price slippage.

I refer to tokens withdraw fees at this website: https://coinmarketfees.com/exchange/yobit.

(https://talkimg.com/images/2024/01/14/3kPv3.png)

Although it does not present a minimum withdrawal level, at least we have more information to choose some of the best tokens. If you have other site to check tokens withdraw fees from Yobit, please share it.

P/s: to get token with good liquidity on Yobit, we can check Yobit profile on Coinmarketcap (https://coinmarketcap.com/exchanges/yobit/).

(https://talkimg.com/images/2024/01/14/3kzNN.png)

The first choice is DASH: Volume DASH/BTC = $19,136,895/day and withdraw fees = 0.002 DASH = $0.0577231.
The second choice is LTC: Volume LTC/BTC = $7,869,964/day and  withdraw fees = 0.002 LTC = $0.1410360.
The third choice is ZEC: Volume ZEC/BTC = $24,711,104/day and withdraw fees = 0.03 ZEC = $0.6978427.

CEXs are delisting privacy coins as DASH and ZEC, so LTC is the best choice  8)

Update: some information on coinmarketfees website may be outdated, please carefully check withdraw fees directly on Yobit.
Title: Re: Choose tokens to withdraw crypto assets from Yobit
Post by: Wiseman on January 17, 2024, 07:44:54 AM
Quote from: MrSpasybo on January 15, 2024, 12:29:19 AM
Deposit Fees: Deposit fees are free for all cryptocurrencies on Yobit. This means that you will not be charged any fees to deposit funds into your Yobit account.
On YoBit, the commission for withdrawal of funds can change like the wind)) it can change several times a year, but if you have not been on this exchange for a long time, you may not be aware that you can make withdrawals using yobicodes, how and where to change them or sell them a slightly different question, but there are ways, some old exchanges do this, which everyone knows and they are time-tested, sometimes there are crypto exchangers.
(https://d1.skrinshoter.ru/s/160124/iP7sbttE.jpg?download=1&name=%D0%A1%D0%BA%D1%80%D0%B8%D0%BD%D1%88% D0%BE%D1%82-16-01-2024%2017:25:37.jpg)
Title: Re: Choose tokens to withdraw crypto assets from Yobit
Post by: MrSpasybo on January 17, 2024, 07:04:21 PM
Quote from: Wiseman on January 17, 2024, 07:44:54 AM
On YoBit, the commission for withdrawal of funds can change like the wind)) it can change several times a year, but if you have not been on this exchange for a long time, you may not be aware that you can make withdrawals using yobicodes, how and where to change them or sell them a slightly different question, but there are ways, some old exchanges do this, which everyone knows and they are time-tested, sometimes there are crypto exchangers.
Perhaps everything depends on the network status, although I don't understand why for withdrawing BTC, Yobit requires fee 3 times higher than Binance ^^

I have never tried Yobit codes, and I think most users do not know this feature. What do you think after experiencing it? Does it help reduce transaction fees by waiting a little longer?
Title: Re: Choose tokens to withdraw crypto assets from Yobit
Post by: Wiseman on January 18, 2024, 07:51:56 AM
Quote from: MrSpasybo on January 17, 2024, 07:04:21 PM
Quote from: Wiseman on January 17, 2024, 07:44:54 AM
On YoBit, the commission for withdrawal of funds can change like the wind)) it can change several times a year, but if you have not been on this exchange for a long time, you may not be aware that you can make withdrawals using yobicodes, how and where to change them or sell them a slightly different question, but there are ways, some old exchanges do this, which everyone knows and they are time-tested, sometimes there are crypto exchangers.
Perhaps everything depends on the network status, although I don't understand why for withdrawing BTC, Yobit requires fee 3 times higher than Binance ^^

I have never tried Yobit codes, and I think most users do not know this feature. What do you think after experiencing it? Does it help reduce transaction fees by waiting a little longer?
In the case of bitcoin I am not sure that they will do it, as it is the main asset on that exchange and they will not want to lose it without earning on it, with the help of codes just and can solve this problem on the type of p2p code exchange with bitcoin on some other asset, perhaps even on bitcoin itself, it is necessary to learn from those who do it.