What will Yobit's future look like?

[MrSpasybo]

Precisely I think that is the mistake that Yobit has been making for a long time, not making an effort to improve the exchange. Whether Yobit can survive or not is a matter of time and how its owners do things, but I don't think they will change their way of thinking or managing the exchange after so many years of doing everything the same way. Although, as I already said, they have not made an effort to improve, they have preferred to dedicate their time to creating a collection of worthless tokens.

It is possible that the creators of Yobit want to ensure their anonymity to avoid problems with the Russian government. This could also be why they have not been able to launch any truly effective marketing campaigns like Binance, Bybit, and CoinEx have done. We will continue to monitor Yobit: if they continue to want to exist as a ghost in the market with junk tokens, that is their choice. Users will look for CEXs with better liquidity, more trading pairs, and more services!

[Freemind]

It is possible that the creators of Yobit want to ensure their anonymity to avoid problems with the Russian government. This could also be why they have not been able to launch any truly effective marketing campaigns like Binance, Bybit, and CoinEx have done. We will continue to monitor Yobit: if they continue to want to exist as a ghost in the market with junk tokens, that is their choice. Users will look for CEXs with better liquidity, more trading pairs, and more services!

Of course, Yobit owners will do what they want, I meant that it is a shame that an exchange with so many years in the industry has fallen so low and remains so forgotten. If they had improved the exchange and some customer-related policies, they would have a much larger market share than they have now. Something very similar happened to Poloniex, an exchange that at the time had a large market share and that after being bought by Justin Sun began to fall into oblivion, losing thousands of users in a short time. Who knows, maybe one day both exchanges will do something to regain the acceptance they had in the past.

[MrSpasybo]

Of course, Yobit owners will do what they want, I meant that it is a shame that an exchange with so many years in the industry has fallen so low and remains so forgotten. If they had improved the exchange and some customer-related policies, they would have a much larger market share than they have now. Something very similar happened to Poloniex, an exchange that at the time had a large market share and that after being bought by Justin Sun began to fall into oblivion, losing thousands of users in a short time. Who knows, maybe one day both exchanges will do something to regain the acceptance they had in the past.

I really doubt their ability to make a comeback because we already have many better options like Binance, Bybit, Bitget, CoinEx... and users always choose CEXs that are well-known, reputable, have good liquidity, and have many trading pairs to use. They will not choose a small and forgotten CEX with extremely poor liquidity and a user-unfriendly interface like Yobit. I think all that Yobit can do is continue to exist until it disappears 

[bitterguy28]

I am really concerned about Yobit's future when it cannot convince domestic users in Russia with poor service, few trading pairs and not being strongly promoted.

your so generous in that part being concerned about yobit, isn't this exchange have faced so many issue for years now? hope that there will be no much cases in this forum because in other forum there are lots.

Are you using Yobit? Will you continue to trust Yobit and be satisfied with all of Yobit's services?

I use to have an yobit account and have tried using for a bit but that is the timing that when the yobit issues comes when they are locking those investment funds and so i instantly stopped using them and up to now .

[target]

The best part of yobit though is that you wtill could trade without KYC. The price sometimes diesnt to the real market price particularly BTC.
They do have Swap BTC/USDTb (BUSD) cheaper withdrawal fee. Sometimes I still use them.

Will you guys wear their signature if they are here?

[Freemind]

I really doubt their ability to make a comeback because we already have many better options like Binance, Bybit, Bitget, CoinEx... and users always choose CEXs that are well-known, reputable, have good liquidity, and have many trading pairs to use. They will not choose a small and forgotten CEX with extremely poor liquidity and a user-unfriendly interface like Yobit. I think all that Yobit can do is continue to exist until it disappears 

Well, I don't think Yobit will 100% disappear one day. If Yobit still hasn't disappeared after all these years on the brink, I don't think it ever will. They have been in the market for many years and have had time to raise funds and survive in one way or anothe, and even if users have better options as you say, there will always be curious people who will want to use Yobit for one reason or another. Remember that the signature campaigns they launched on BTT had a lot of users and attracted a large number of people, those signature campaigns ended a long time ago, but there will always be loyal users.

[MrSpasybo]

The best part of yobit though is that you wtill could trade without KYC. The price sometimes diesnt to the real market price particularly BTC.
They do have Swap BTC/USDTb (BUSD) cheaper withdrawal fee. Sometimes I still use them.

Will you guys wear their signature if they are here?

Yeah, I agree that Yobit doesn't have KYC - that was a big advantage that I chose Yobit over Binance in 2017. And it seems like that was a mistake because I used to value anonymity too much over profit in this market!

I used to have to withdraw money from Yobit through DOGE and TRX instead of BTC or ETH. Besides the terrible liquidity, Yobit's withdrawal fees are too high and cause inconvenience for users.

If Yobit has a signature campaign on AltcoinsTalks, I think I will support Yobit because the signature campaign makes the forum more active, members have more motivation to participate, create value and a positive environment for the development of the market!

[bitterguy28]

The best part of yobit though is that you wtill could trade without KYC. The price sometimes diesnt to the real market price particularly BTC.
They do have Swap BTC/USDTb (BUSD) cheaper withdrawal fee. Sometimes I still use them.

Will you guys wear their signature if they are here?

in the other forum that i came from wearing their signature will definitely brings you in so much trouble but they are one of the most generous signature campaign that have run in the other forum paying their participants in bitcoin not in dollar, so asking if I will wear their signature? of course I will because those issues are accusations but never that i experienced their troubles .

[MrSpasybo]

in the other forum that i came from wearing their signature will definitely brings you in so much trouble but they are one of the most generous signature campaign that have run in the other forum paying their participants in bitcoin not in dollar, so asking if I will wear their signature? of course I will because those issues are accusations but never that i experienced their troubles .

While Yobit has issues with liquidity, withdrawal fees, and shitcoins, it is not a fraudulent CEX like FTX. Therefore, we can safely participate in Yobit's Signature campaigns without any concerns. As an investor, we have the right to sell our signature services for the highest price possible, as long as the associated projects are not scams.

However, I doubt Yobit will launch Signature campaigns in the future. Yobit has not run any marketing campaigns in the past few years, suggesting that it is no longer interested in reaching out to potential users.

[SamReomo]

However, I doubt Yobit will launch Signature campaigns in the future. Yobit has not run any marketing campaigns in the past few years, suggesting that it is no longer interested in reaching out to potential users.

I agree with you and I also think that Yobit will not launch their signature campaign anytime in future.

They haven't spent a penny on marketing on forums a few years and they won't spend anything for marketing in future.

Even if they run their signature campaign, they'll still not get the desired results. Those who used them before will not think about using them again.

Their exchange is a poor one and those who have struggled with them in past would not even think about using them even if they get bonuses.

[MrSpasybo]

I agree with you and I also think that Yobit will not launch their signature campaign anytime in future.

They haven't spent a penny on marketing on forums a few years and they won't spend anything for marketing in future.

Even if they run their signature campaign, they'll still not get the desired results. Those who used them before will not think about using them again.

Their exchange is a poor one and those who have struggled with them in past would not even think about using them even if they get bonuses.

Yeah, marketing is necessary but not enough to make a project successful. Yobit needs to make major changes to its token listing rules, user services and utilities, and partnerships with investment funds and new projects... I doubt this is possible because Yobit is a CEX that does not require KYC, which could make projects and investment funds worry about legal issues in the future.

Everything depends on the Yobit Core Team. If they really want to make more money from trading fees and listing fees, they need to make changes. I think just copying the interface and utilities from Binance or Coinbase would make Yobit more attractive and user-friendly. I wouldn't expect Yobit to launch its own Layer-2 like OKX, Base, or Kraken.

[yhiaali3]

Yeah, marketing is necessary but not enough to make a project successful. Yobit needs to make major changes to its token listing rules, user services and utilities, and partnerships with investment funds and new projects... I doubt this is possible because Yobit is a CEX that does not require KYC, which could make projects and investment funds worry about legal issues in the future.

Yes, I agree with you, marketing is not enough, and they need to make a lot of changes, whether in their way of thinking, or make updates to the exchange completely, as well as change policies.

One of the things that attracts users to Yobit is that it does not require KYC, but at the same time this makes large companies and funds afraid to list on the exchange due to their fear of legal issues, as well as the fact that the exchange is Russian, which causes problems for many due to the sanctions.

[Freemind]

Yes, I agree with you, marketing is not enough, and they need to make a lot of changes, whether in their way of thinking, or make updates to the exchange completely, as well as change policies.

One of the things that attracts users to Yobit is that it does not require KYC, but at the same time this makes large companies and funds afraid to list on the exchange due to their fear of legal issues, as well as the fact that the exchange is Russian, which causes problems for many due to the sanctions.

The owners of Yobit have had enough time to do marketing and many other things, they are not new to the market, why they have not done it is another question. I think that after so many years, Yobit has found a niche within the market itself that is very close to their way of working, although I don't understand it 100%, as I have said in other posts, it seems that it still works for them, that's why they will probably never change the way they work. Many of the things Yobit does seem like barriers to business, but if the owners haven't changed those ways of working in so many years, maybe it's because they don't care at all, or are not interested for some reason.

[MrSpasybo]

The owners of Yobit have had enough time to do marketing and many other things, they are not new to the market, why they have not done it is another question. I think that after so many years, Yobit has found a niche within the market itself that is very close to their way of working, although I don't understand it 100%, as I have said in other posts, it seems that it still works for them, that's why they will probably never change the way they work. Many of the things Yobit does seem like barriers to business, but if the owners haven't changed those ways of working in so many years, maybe it's because they don't care at all, or are not interested for some reason.

To expand its reach to more users, Yobit needs to change its business model and may need to require KYC from users. This could lead to more revenue but could also put Yobit at legal risk. Currently, there is no legal framework for crypto in Russia, and even their government does not have a clear position on crypto. This may be what is preventing Yobit from innovating.

Caution is perhaps the best thing that the Yobit team can continue to maintain, but they can completely innovate the interface to make Yobit faster and more user-friendly. I also don't like the existence of hundreds of shitcoins on Yobit, Yobit should refuse a bit of transaction fees to ensure a better user experience.

[yhiaali3]

Caution is perhaps the best thing that the Yobit team can continue to maintain, but they can completely innovate the interface to make Yobit faster and more user-friendly. I also don't like the existence of hundreds of shitcoins on Yobit, Yobit should refuse a bit of transaction fees to ensure a better user experience.

Yes, the worst thing that Yobit users can face is the presence of hundreds of Shitcoins and also hundreds of dead coins that have no value at all, so a new user may find himself bankrupt if he buys one of these coins.

In addition to this, the prices of coins listed on Yobit differ from the market price. I remember that when I was working on the exchange, there was a significant difference in the prices of BNB, ETC, and many well-known coins from their real price in the market.

In addition to all of the above, new coins that Yobit creates every period of time and makes a bump on them and then their value becomes close to zero.