Yobit.net / Yobit.io Review 2019 – Scam or Not?

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The Truth Behind Yobit.Net – Pros And Cons

Yobit is a website that is shredded with complaints from left to right, not to mention an on-going investigation by the Russian Authorities! Though this investigation has not been proved yet, it would be best to know more about them before you invest.

If you’re someone that wants to get into things that you want to prove wrong, then this might be the website you want to start looking into. So, are they legit?

Let us look into Yobit more closely. The company was founded in Russian and was first introduced in a forum way back a couple of years ago in 2015. No further information can be found on the name of the owner of this website, quite interesting.

The website caters to English, Russian and Chinese traders, which you can conveniently change easily on their website with one click.

 

Yobit Verification Process

Creating an account with Yobit.net would not take five minutes of your time as the confirmation email almost instantly pops up. When it comes to sending out payments or doing withdrawals, the verification process is fast as long as you have the Google Authenticator installed. You will be given a step by step process on how to activate this once you register with them.

The only FIAT currency that is accepted would be USD. You can deposit USD into your account and purchase bitcoin with it. After you have credited your account, you can then trade it for BTC and move into your preferred cryptocurrency. They have a wide range of selection from BTC, DASH, ETH, XBY and DOGE just to name a few.

 

How Yobit Trading Works


Trading is surprisingly easily when it comes to Yobit, even the inexperienced can easily know their way through the website. All you need to do is select which currency you want to trade with (which is located on the left-hand side of the screen) and put on a buy or sell order for it. The minimum transaction would be at 0.00010000 in all currencies and the transaction fee would be 0.2% for both buying and selling.

In addition, a live chat section is available for users to use. This comes quite in handy if you want to know about the latest coin gossip or just want to know which coin is hot on that day.

Fees would depend on the wallet that you will be using to transact with them.

 

The cheapest deposit fee would be free for USD transactions under Perfect Money, OKPAY, advcash and Capitalist. Payeer charges you 2% USD per deposit and QIWI Wallet would charge you 5% RUR per deposit. Withdrawals would range from 1% RUR to 3% RUR and 5% USD fees.
Before moving your fortune into their website, please be advised that they have something called Free Coins.

You can earn different cryptocurrencies in Yobiet.net with just a few clicks of your mouse. After you have clicked on the actions, you will then be given a cool-down time clock until your next freebie.

They also have a DICE game wherein you can gamble BTC for a certain price. Not bad, right?

 

Yobit’ Website Interface

The website is clean, precise and mouse-motion-streamlined. This means that you do not need to break a sweat just to move your mouse pointer from one place to another. The first time I looked into their website, I was pleased to see the color scheme was not something out of a horror booth. It is very easy to navigate and everything is right in front of you!


When it comes to trading websites, it is always best to have something simple and not complicated to get in your way. The trading market is far complicated enough, an additional blinking widget is the last thing you want.

 

How Yobit Treat Their Customers

In regards to customer service, they do not have a live chat, well that is a downer. They do have a ticketing system, which if you ask me is not the best when it comes to these live trading websites. I tried to make a ticket just to test the expected resolution time frame but no luck.

When you create a ticket, you will be provided with nothing, not even a reference number that you can use in case your first ticket wouldn’t be responded. No time frame provided, just a status saying “New”. People from this forum (https://bitcointalk.org) actually had the same issue when it comes to customer service.

But after a few minutes, I got a reply from them!

I asked them if I can link my bank account directly to their website and sadly you cannot. Though the answer was frankly vague, it was of best interest to just try and check the wallet tab.

Apparently, with the test ticket I made, you can deposit money into your account using the following options provided on the screenshot above. With everything Free except Payeer.com which they charge 2% per transaction.

This controlled ticket was something that I did not expect coming from a website that has so meany negative reviews, might just be lucky? On the other hand, they do have an FAQ’s page in which you can get answers for your questions before sending out a ticket or email to their customer service team.

User Experience

A lot of supposed members of Yobit.net are mad because of one common problem, and that is the delay when it comes to withdrawal of their bitcoins. A separate thread was made on a forum regarding this issue when it comes to having problems with withdrawals. The website is currently under flak from numerous forums in the Bitcoin world today.

Clearly, everything might just be a speculation as everything shows to just be a complaint, maybe bad customer service? Aside from the bad reviews and negative feedback from forums, we also have a number of positive reviews from people claiming that they had nothing but good experiences with Yobit.net.

 Website Security of Yobit.net

When it comes to online trading be it FOREX or BTC trading websites, it is always of best interest to make sure that they have a decent security platform that you can rely on. At the end of the day, you are trading your hard earned money and not sticks and stones.

Yobit also offers two-factor authorization which is always great when it comes to trading websites.

For security, Yobit.net has the following:

  • File systems encryption
  • SSL (Secure Sockets Layer)
  • Anti-DDOS
  • Intelligent system of queer transaction analysis and blocking
  • Two-factor authorization (Google Authenticator, Email)
  • Cold/Hot Wallets
  • Yobi Codes (codes that are provided for transactions)

 

Yobit Review Conclusion:

At the end of the day, knowing that this website offers fair trade would still be up to you. With all the forums in the world talking about how good a website is or how they steal people’s money, if you look right through them, one thing is clear -it all depends on the person that is trading.

PROS:

  • User-friendly Interface
  • Security -Yobi codes (deposit codes)
  • Free Coins

CONS:

  • Has a ton of negative reviews
  • Very high withdrawal fees ( > 0.001 BTC)

No one forces you to trade or lose money on a certain website, it is your gamble. And just like any gambling game, it’s either you win or lose. There are definitely better Exchanges like Binance.com than Yobit – but if you want to trade exotic shitcoins – Yobit might be worth a try.

Go to yobit.net
Share your Experiences about Yobit.net:

86 User-Reviews for Yobit.net
  1. Pasi Laakkonen, 19. February 2018

    I bought 0.1 BTC worth of LIZA coins. Under 12 hours my account was closed.

    Now i keep on getting these errors (since 13.2.2018):

    Invalid login or password.

    You cannot log in now. Please try again later or contact our Support Team.

    Temporarily disabled.

    Now “funny” part is that i can not play DICE so i am not getting
    my daily payments. Price of the LIZA will be dropping 10-30% daily.

    Be warned!

  2. Adam, 16. February 2018

    It most definately is a SCAM.

    They keep large incoming transfers of non BTC coins (in my case 13.5 ETH) that etherscan showed as a successful transaction. I initially sent them .1 ETH to test the transaction and wallet and that worked fine, so I know they can accept, they just chose to keep my coins.

    This was in mid 2017, it is now Feb 2018 and no replies to support tickets up to about three months ago when they chose to enable 2fa on my account without informing me…so now I cant log into my account as there is no way to reset the 2fa setting on yobit that I can see.

    They are nothing but thieves – stay away.

  3. Edward, 16. February 2018

    Yobit not updating wallets in maintenance.
    Still have requests of deposits made to my XMG coin account, in maintenance for 5 months!

  4. Andra, 15. February 2018

    100% SCAM!!!
    I’ve read tons of complaints and still decided to try it myself. Now I ended stuck there for a whole month waiting for withdrawal and nothing happens, no response from support…
    I honestly believe that this exchange is pure SCAM! It’s not normal to wait one month for withdrawal and still “in process”… That money is gone.
    This s’it shoud go down… Stay away from yobit.net and save your money and nerves.
    Amateurs and scammers, that’s what they are. The end.

  5. alex, 14. February 2018

    All my funds are gone… Even new deposits don’t show up.
    Is there anything, anyone can do about this?
    Is there a scam-victim group that can fill a complaint?
    Thank you for your support, whoever.
    This must stop, one way or another.

  6. Denis, 13. February 2018

    YOBIT is nothing but a scam. On January 5th 2018, they wiped my BTC wallet clean and since than they never gave any sustanable explanation. If you want to, check the complete story on BitcoinTalk: https://bitcointalk.org/index.php?topic=2726811.20

  7. Rob, 10. February 2018

    Haven’t tried Yobit but will say stay far away from Bittrex. Bittrex has 8 thousand+ complaints posted on FB. Bittrex warns if you put the wrong address when transferring, they are not responsible. So what happens is they give a deposit address that doesn’t go to your account. It goes to an address you didn’t enter. You can confirm and see where your deposit went by going to Blockchain.info with the transfer address and then obtaining the actual address where the funds went and then taking that address and checking it on Bitref.com. This will show your BTC deposited to the unfamiliar address.

  8. GJ, 9. February 2018

    Simple and Easy to use Exchange. Thumbs Up!

  9. edward, 8. February 2018

    Yobit , net is the WORSET platform I have ever used.
    I lose 1 ETH there , open 2 ticket , the customer service never reply me 100% scammer website.

    i open an account , send my ETH to yobit wallet , i am sure everything is correct , and i never receive my eth ,
    plus i am not the first person in this case after many research . until now this company never reply me ticket .

    if you read my review and still go to trade at this website. i have nothing can help you .

  10. Usaf, 7. February 2018

    THIS IS A SCAM EXCAHNGE, please lower your rating. 1 month no response to support ticket. You are loosing credibility for your rating.

  11. NDuctor, 31. January 2018

    Yobit is the most stressful exchange I have ever used, please, for your own piece of mind DO NOT USE YOBIT!
    You can transfer your coins there ok but YOU CANNOT WITHDRAW YOUR COINS every wallet is in maintenance mode and you cannot withdraw, The one time was able to withdraw, the coins have NOT been received in my wallet it was only a tester withdrawal when a wallet was finally not on maintenance mode.
    Their support eventually reply but its a canned response that tells you nothing
    Do you own research on them before you decide to trade there, there are more than enough negative reviews all over the internet about Yobit exchange.
    TRADE AT YOUR OWN RISK

  12. Mike Young, 27. January 2018

    Den of thieves, scam exchange site….. The Russian government are investigating Yobit as Putin administration wants Cyrptocurrancies to succeed in Russia and i sure they will put them in Jail.

    The translations i did with Yobit, do not add up and `500.00 usd of ETH went bye bye..

    I would study some of the other review sites and you will see 100’s of complaints about Yobit.

    If anyone knows who the owners are…. I would like to make an offer to purchase the exchange… please contact me ………. mike AT firehouse.cc

  13. Gladys de Leon Boenig, 25. January 2018

    SCAM!! Wallet maintenance for months. BEWARE you can’t get your coins out of this exchange!!

  14. Nikolay Megdanov, 23. January 2018

    Don’t use them! They block your withdrawals without any reason and then do not respond to support tickets! Stay away from these scammers!

  15. Chrillis, 23. January 2018

    I think that the site is legit, but people must pay !!CLOSE ATTENTION!! to every aspect of the trade. There are several FAKE coins that list with very similar names, such as “Guccionecoin(GGC)” and the fake coin “TheGGCcoin(GGC*)”, and in these cases Yobit shows the listings just as (GGC). Some people think they are getting a deal on a coin and it’s not even the right coin, then they try trading the coins and it gets lost.

    I also noticed that with some coin the buy price and the sell price are way different. Pay close attention to these prices because a purchase price could be filled out as the high of that week. I ran into this when purchasing what I believe to be a scam coin NKT, and thinking that everything was matching up for a purchase of a lower price, I discovered that the price that populated the trade was the high price of the coin. Whenever you see this difference in price just avoid the coin all together because no legit coin on Yobit functions this way. I believe all of the coins set with with such variance are scams. Luckily I only lost 9$

    I can see how eager newcomers could really mess up and lose quite a bit of money.

  16. ADDI, 15. January 2018

    Hi. Can some one Please Guide Me How can I Reactivate Yobit.net Freezed Account?
    My Account showing me This Message:
    “Your account is freezed.
    Access to some actions is limited.”

    Please help me to reactivate it. I don’t know why my account is Freezed may be due to long time inactivity.

  17. Sean Shuford, 14. January 2018

    Here is my review, ripped off!
    Lost bitcoin on there platform and my Tron and Digibyte. All disappeared right away. Messaged many times no response. Proof of delivery from coinbase to yobit and purchases.
    SCAM YOBIT IS

  18. Vincent, 14. January 2018

    I often use YoBit with this trading bot developed by a fresh new startup (https://chrome.google.com/webstore/detail/yobit-neural-bot/fommbgdllfjnhlhiiochcogjjocbdeco). I started with only $100 just to try this platform, and I think it’s pretty good. Of course the gain are relatively small (a few dollars), but I let my computer on when I go to sleep, and I wake up with around $7 each morning. I would say YoBit is not great for usual trading, but with this kind of trading bot it is still an easy way to make a little money.

  19. jeff, 13. January 2018

    it’s a scam company
    I bought they use use “wallet Maintenance” statuses to prevent withdrawal.

  20. bitt1977, 13. January 2018

    They are scamming me, they don’t deposit my funds, and it is already 7 days they never reply!!…stay away…they are scammers!!

  21. Toni, 12. January 2018

    Scam. Cant get in to my account, cant change password, cant use 2FA. No answer from support. They basically stole my money. Stay away.

  22. David, 9. January 2018

    About 4 Days ago I send 0,9 Eth to my Wallet at Yobit.net. Some times later there was only a Message that there was no more free Adresses and i cant deposit anymore. A Day later i got a new Wallet Adress. Now my deposit is on the old Adress and i cant access it.
    I can see that my Money is on the old Adress! Wrote two Tickets and no reply. Now i can´t login no more on this Site -> “We sent you auth code to email. Please put this code here.” but i did not get any Mail. This is pure SCAM, DO NOT SEND Money to them. I will continue contacting them and post Bad Reviews on every Page that i can find every Day. Hope that saves some Peoples Money.

  23. Jon, 9. January 2018

    I deposited 1.5 ETH to my YoBit wallet Key they provided, but it never arrived. Etherscan says it did. The successful transfer was on Jan 7th as evidenced by Etherscan. My support tickets have now reply or response. It appears I lost all. Recommend do not use YoBit at all. They are giving crypto an evil very bad reputation. They are a scam taking your money.

  24. Poqingat, 8. January 2018

    Can tell me everyone how to back my coins from yobit codes

  25. ED, 8. January 2018

    SCAM ALERT THIEVES , sent 110$ in bitcoin with 520 confirmations and it never showed on my account!! 7 support tickets of over a month with no reply, DON’T USE THEM! stole my freakking money

  26. John M stanwood, 7. January 2018

    Excellent explaination above
    Thank You John

  27. Edward Hsieh, 7. January 2018

    i just open an accont and sent 1 eth to Yobit , until now 2 hours and i see nothing in to my yobit wallet . damn

  28. faithman, 7. January 2018

    Its not scam, i have used to deposit and withdraw without any problem at all. those who post negative about yobit have their own problem.I used Binance yesterday to withdraw but they sent coins to the wrong address which i didnt own or know it,i found they were using btc.com

    yobit is not scam

  29. Michael, 2. January 2018

    If it’s now a Scam than can anyone tell me why it’s more than 20 hours and WithDrawal is not working. it’s says in process with 0 confirmations it appears funds got sucked in to vacuum and disappeared. This exchange is a scam they are fraud and this exchange need to be stopped spread awareness.

  30. sss, 31. December 2017

    this exchange( yobit .net ) is very bad exchange coin in this market,they stolen your money and you can not do any thing, do not trust and do not work with them,i believe some one has to do some action to (yobit.org) ,

  31. shimpy, 30. December 2017

    I lost my 0.01 btc in dice game. I make a bet for 0.00000001 btc but it take 0.01 because of technical fault. I creat a ticket regarding this. But there is no reply from customer support team. I am very disappointed with this. Support team is not supporting clients.

  32. Nick Cheriton, 29. December 2017

    It most certainly is a scam.. I wish I could give negative.
    Im lucky I suppose. I only lost $240 withdrawing from yobit. I withdrew to Advance Cash on Dec 16th.. its still pending and I suspect that’s the last I see of that.
    Absolute scamming F*****s

    The customer service is non existent and you cannot withdraw once they have your money

  33. Lemon, 25. December 2017

    Crashed in around 3 mins for me and said to refresh it in three minutes lol

    If you’re experienced enough to know what you’re doing in exchanges and trading, just use Binance or Bittrex!

  34. luis alvarez, 20. December 2017

    what matter those pros are talking about yobit if i cant open my account, coss lost my google authenticator, fill and sent a ticket, awnser pretty quick by email asking me some information, using the same ticket system, and there is the problem, no awnser or help, did several time this proccess from three weeks and nothing yet, and there is not other way to rise yobit, i hope they read this and solve my situation , for now, i advise keep away from using they site, pretty risky!

  35. Abas, 17. December 2017

    I really think yobit has thr best platform for trading but yobit admins act like cowboys by blocking users without warning and there is so much fake coins on it.pump and dump and dice that rips you for money it is a jungle.

  36. Benny Jason EnronThomas Zachary, 17. December 2017

    Yobit – no way its a scam site based in Russia – has it regulars on there and the chat but gets people to deposit and trade in worthless coins – many times they create and fleece people – very difficult to get any of your money out and can take weeks – many many people have found their passwords do not work and when they try and request a new password reset they get informed that their accounts are ow temporarily disabled, Money gone and no access – no one to turn to.

    Their servers and platform is slow as crap and very basic.

  37. Kerimme, 14. December 2017

    UNTIL Today Dec 13th, 2017 THE BEST EXCHANGE EVER

    Yobit.net and Yobit.io (ARE THE SAME EXCHANGE INTERCHANGEABLE LINK). DEFINITELY NOT A SCAM and it offers THE BEST SERVICE:

    1. It is easy to use
    2. It has THE LOWEST FEES among the market (Not like other “X” exchanges)
    3. Support ANSWERS SOONER than other exchanges (within 24 hours)
    4. Does NOT REVEAL IDENTITY OF TRADERS (Like other exchanges DO)
    5. Time for BITCOIN transactions is between 10 minutes and 2 hours (shorter time than other “X” exchanges)
    6. DELIVERS ALL FORKS (not like other exchanges that keep that “free money” that belongs to bitcoin, ether and other coins holders – Like other exchanges that DON’T GIVE THE CORRESPONDING FORKS)
    7. It has THE BEST TRADING PRICES for users.
    8. Admits MANY OPTIONS FOR INSTANT DEPOSITS like Payeer, Payza, AdvCash,Perfect Money,etc.

  38. Michal, 12. December 2017

    exact same problem as Daniel De Patta. I made an acc with this idiots deposit money.
    Next day tried to log in. Says name or password is invalid. If i go to forgot my pass page a warning appears saying that the system is temporarily inactive. No chance to contact support noone is responding. Dont use this exchange, they just gonna rob you and you have absolutely no chance to contact them.

  39. CryptoMania, 11. December 2017

    I have some mixed feelings with YoBit. Their user interface is one of the best I´ve ever used its intuitive, its quick and the hole site is very usable. I have done a little trading to test it and had no issue at all to get my money out. The cons: I really don´t know who is behind: no legal reference, no CEO in LinkedIn, no nothing, and that scares the hell out of me. I cant use real money in a place with no legal disclaimer or real people behind…

  40. josh murray, 9. December 2017

    Horrible company. The worst. Do not put your money anywhere near these people. they will steal from you! Also you will never ever hear from support. They just ignore you because these bastards know that they stole your money.

  41. Daniel De Patta, 1. December 2017

    I’ve been trying to log in for two weeks and says my password is invalid, when I try to contact them, only one robot responds, nothing with nothing. When I go in I forgot my password, a warning appears saying that the system is temporarily inactive, ie, it has been more than two weeks that it is not possible to request a new password. Another detail is that they robbed me of a part of my CNT, they just disappeared, before I can no longer get into my account. Impressive the lack of commitment to the customer. I believe they even robbed me, because they do not even answer my tickets anymore.

  42. Adam Daniel, 30. November 2017

    They are thieves, pure and simple. They keep incoming transfers (not all, but many) and theu use “wallet Maintenance” statuses to prevent withdrawal.

    They just kept 13.5 ETH of mine, never replied to support tickets (from 3 months ago) and etherscan.io shows the coins arriving at their wallet address.

    They are a Scam, that’s all they are.

  43. countincoinsbythabillions, 29. November 2017

    Its odd for me to see so much complaining about this site. ive had not one single issue. as far as selling anything at the wrong price, I seriously doubt that it was changed. you probably either misread the price you were selling at or only looked at the chart to your left which lists shows the price of last trans not current price. ive done thousands of trades on this site and never had such an experience. withdrawals have all gone just fine in numerous currencies. maybe less looking for somewhere to put the blame for not paying attention and try accepting that you screwed up because you were in a hurry or jumped the gun and didn’t pay attention to the more important details. SELLING PRICE = FIRST COLUMN BELOW YOUR AMOUNT TO BE SOLD!!! look at the charts throughout the page, you have current ask / bids below, transactions to your right, and % rise and fall is shown along with last buy/sell price to your left. price charts mean nothing to me whatsoever, the only thing I ever look at as far as these go is the order book. that shows everything you need to know and you don’t need to look at anything else except adjusting your prices when making a trade. stop blaming the site for user error. all that being said if I ever do encounter an issue, I will return and document it here and apologize to anyone that I feel I wrongly misjudged or may have insulted. my intention here is only to point out that most of what I see in reviews is a load of s#*t. user error is almost always to blame.

  44. Ykzeh, 29. November 2017

    No its not scam, they have some problems but where is another perfect exchange with so many coins?? BTW i contacted support, i had problem, my phone was broken and 2FA gone, they helped me in a day 🙂 🙂

  45. Patrick Knoth, 20. November 2017

    YObit = not! Search another Exchange. The Support is super bad !!! I am waiting since one week for an answer.
    …and the Webside is slower than a slug.
    Do ist not !!!

  46. Peter, 20. November 2017

    I wait for my ETH withdrawal for 24 hours right now! It is still in process. Can somebody help me? What can i do about it?

  47. StClair, 14. November 2017

    A company that delays your withdrawal when it has had heaps of time to fix it… Is a scam. It is a direct scam to try and ware you out on small bitcoin transfers., This is a con machine. It’s going to take a lot of peoples money soon and how anyone could support it in any way is beyond comprehension.

  48. MICHAEL MCKEOWN, 29. October 2017

    Well they wont let me withdraw my 2050 omg coins theyre nothjng but scammers

  49. davidthedivergent, 28. October 2017

    My 19000 IFT were sold at the wrong price. Price went from 0.00012823 to 0.00000195 All 19000 IFT were reduced in value to less than $50 form $750 in seconds. I have contacted support to see how they want to handle the situation. I will keep everyone updated.

  50. Matt, 27. October 2017

    It’s not a SCAM directly, but expect any support tickets to take days before any kind of response and they have MAJOR UI bugs that will benefit the exchange.

    I bought a coin that was sitting at $0.17. I ASSUMED Yobit would populate the bid prices on a SOMEWHAT reasonable number. NOPE! I bough 200 shares at $1.50. There is NO reason to have a default price that is that far out of range of the expected pay price other than fleecing your users.

    GO USE BITTREX.