If we want to examine the most popular exchanges in Russia we shall start, of course, with EXMO and YoBit. Today, I am going to speak about the second one that is a competitor for the market leader – EXMO.
It is not difficult to explain why YoBit is so popular on the Russian Internet: this company is obviously focused on our market and the platform is well-adapted for the Russian language.
YoBit. net is an official website of YoBit platform. By the way, the creators of this site have also made “a mirror” YoBit.io. Please, pay attention to it: this exchange has only these two websites. So, if you find the other variants, they are by swindler. They try to steal your data for the authorization (login and password) for the original platform. When they have your data they can take your funds from the wallet. This is the reason why you should be very attentive during the authorization (especially when you have some funds on this platform).
It goes without saying that YoBit exchange has some advantages in comparison with its competitors:
- There is a low commission when you work with the popular electronic payment system. In particular the withdrawal of funds on QIWI is quite profitable than the other variants
- This exchange provides you an opportunity to use Russian language (as I have mentioned earlier)
- Yobit exchange has a good variety of currency pair. It is quite possible that there is the biggest number of cryptocurrencies (and some of them are exotic).
Disadvantages of the platform
However, the users of YoBit exchange often complain about this service. So, what is the reason?
The first one is the speed of platform work. Interface is very slow, it complicates the work and it is quite annoying thing . But we can deal with such problem. After all, the problem does not influence the functions of the platform.
The second part of complaints is more serious. Many negative opinions on YoBit point to the problems of fund withdrawal. So, we have such ratio: there are 373 negative opinions and only 115 positive opinions on YoBit, at the moment of writing this article. The data were taken from the platform BestChange.ru. As you can see people write more negative comments.
By the way, it is very strange that this exchange does not work with cryptocurrency Ripple. It is a quite popular cryptocurrency and I can’t find a reason why the platform doesn’t add it. There are a plenty of exotic cryptocurrencies all the more. Talking about Ripple itself, the creators of this cryptocurrency carefully select platforms for the work.
YoBit exchange has come across different scams trying to have all possible variants of cryptocurrencies.
Besides, Pavel Krymov may be one of the creators of YoBit according to the unconfirmed data. He is a notorious creator of several pyramid schemes. And if YoBit is really his exchange then it has another scheme of work – this platform works quite long; at least longer than his previous variants.
In conclusion I would like to say that YoBit net exchange is quite attractive platform for beginners and people who like QIWI payment system. People also use YoBit platform when it is necessary to buy new cryptocurrencies.
However, you should not forget about negative aspects of this issue: the interface is quite slow, problems with withdrawal of funds and a possible implication of Pavel Krymov. So, I don’t recommend you to connect your main trader activity with this platform because of the collapse risk.
