Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange


This post was most recently updated on May 21st, 2020

Yobit is one of the oldest exchanges in the crypto space. It has been around at the time when bitcoin was trading for only $300-$400. The trading platform has a simple interface it is secure and it is easy to use.

Created months after the famous MTGox hack, Yobit crypto exchange has contributed a lot to the grown of the crypto industry. We would not be here today without the early adopters like Yobit.

The crypto exchange was created by a group of europian traders and developers and was registered in Panama in 2014. The simple design offers a great user experience, this is why the Yobit is the preferred crypto exchange for many traders.  Now, we can truly say that YoBit is one of the leading crypto platforms on the global market and we can see it in the top ten exchanges by CoinMarketCap score.

yobit coinmarket - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

Another great feature Yobit offers is that the exchange supports Fiat. You can easily convert Fiat into crypto and vice versa.

All these features come without leaving behind the platform security, which is the most important thing for a cryptocurrency exchange. Unlike many crypto exchanges, Yobit has never been hacked.

YoBit.net: Creating an account, no KYC required

Yobit does not require KYC or any kind of verification in order to use its trading platform.  Users can trade anonymously preserving their privacy which is a thing that crypto users value a lot. It’s a unique feature highly appreciated by many crypto enthusiasts because of the exchange does not store any data of users and protect their confidentiality

When registering an account with Yobit the only required thing is a valid email. The registration form only has 3 fields: user name, email, and password. When you fill the form and click the registration button, an email will arrive in your email box in order to verify your email. Then the next step is to activate the 2-FA in order to keep your account secure.

register - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

Deposits/withdrawals and trading on Yobit

Once you have an account in place with Yobit you can start using the trading platform.

First of all, you will need to make a deposit. There are 10 cryptocurrencies including stablecoin USDT available for deposit or withdrawal add to fiat US dollar. Users can deposit or withdraw money using VISA/Mastercard, Perfect Money, AdvCash, and Payeer. Deposits and withdrawal are automatic and very fast on Yobit.

wallet - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

Once you got the funds in your account you can start trading by choosing the pairs you want on the left sidebar. Yobit lists thousands of coins and tokens and maybe some low cap gems that might have a bright future.

When it comes to trading the platform is fast and never slows down as many other platforms do in times of high volatility.

trade - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

Yobit fees are also negligible, only 0.2% fee is charged per trade.

Unique features:

Yobit crypto change has a unique design offering many features. Besides trading and the wallet, on Yobit, users can use the investBox, Dice and Free coins features.

Daily percentage rates are given to those who choose to invest funds in the InvestBox. Instead of leaving unused funds resting in the account doing nothing, the InvestBox tool allows users to invest their money and earn interest. Daily interest rates vary from 0.1% to 10%

investbox - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

The Dice game is some kind of casino game where users can try their luck.

Yobit has a reward campaign with crypto forum https://cryptotalk.org/ where users can earn rewards in BTC by posting messages on this forum 

A feature that Yobit is proud of is the support. On Yobit the support is available 24/7 and more than 10 admins are online at any given time. Support is available in English, German, Arabic, Chinese and Russian.

Yobit has a large community. They have one of the biggest Telegram communities, more than 80k people in English Telegram channel.

Thousands of cryptos are listed on Yobit

Many crypto investors are in a constant hunt for the next low cap that may make a jump of x100 or x200. With more than 8000 pairs Yobit is the perfect place for this.

The philosophy behind this big number of cryptocurrencies is because Yobit developers think that maybe some unpopular coin might become a top cryptocurrency tomorrow. This way early adopters can make huge gains if they find such a gem early.

market - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

YoBit.net Users reviews on independent websites

Websites that publish user reviews give Yobit good ratings. On TrustPilot Yobit has an excellent rating, https://www.trustpilot.com/review/yobit.com.  

trustpilot - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

it is also it’s highly rated by https://www.cryptowisser.com/exchange/yobit/  (in top 6 of all exchanges) with the highest security “A” score”

cryptowisser - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

 Moreover, there are also high rates on cryptogeek https://cryptogeek.info/en/exchanges/yobit

crytpogeek - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

 YoBit is always in the spotlight from leading crypto media. It proves by recent Coinspeaker review of the exchange.


To summarize it, let line up the benefits Yobit offer  to its users:

  • Security
  • User friendly
  • Anonymous trading
  • Automated deposits/withdrawals
  • Small fees
  • Fast support
  • Investment opportunities
  • Many pairs to trade

Yobit is a crypto exchange that has almost everything that a crypto investor or trader needs.

The only option Yobit does not have is leveraged trading or margin trading where users are exposed to higher risks in order to get higher returns.

Sign in on YoBit: https://yobit.net/?bonus=fOxuo

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spinner - Yobit.net Review 2020: Easy to use Crypto-to-Fiat Exchange

About Author

Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

Disclaimer: All content found on 7bitcoins.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

1 Comment

  1. Avatar
    moses brodin on

    I liked the post but wondered the same thing. I think what the poster is referring to is encryption “expires” as soon as law enforcement can easily decrypt it. Which I hypothesize they can do now.

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