The Notorious Exchange Yobit Users Need To Maintain Caution While Trading

Yobit introduced to the world in 2015 is the Russian-based cryptocurrency exchange that was first seen on BitcoinTalk forum thread. The exchange became popular among the users as it has several lesser-known altcoins on its site, which has difficulty finding a place in big exchanges due to the hard approval process. The exchange is controversial as the information about the founders of the exchange is not divulged. In the time of techni hurdles, you are suggested for calling at the Yobit customer support phone number 1-800-509-3075 and get availability of the updated solutions.

Features of Yobit

The Yobit is a global cryptocurrency platform that allows users to buy and sell a diverse range of digital currencies. It has features like;

• It offers a multilingual trading platform to the users around the world to buy/sell digital currencies.
• The Yobit platform offers several methods of buying the cryptocurrencies as users can opt for bank transfers, debit/credit card purchases or international wires.
• Another attractive feature is the exchange has its own coin called the Yobit Virtual Currency (YOVI)
• The exchange offers the consolidated screen that will offer delight to the seasoned traders as it shows all the necessary information on the home screen.
• The exchange supports several known and unknown altcoins to the users that will assist in extensive trading.
• The exchange offers its users the recharge codes called YobiCodes that are redeemable or auction it to other users through the chat facility.
• The Yobit platform attracts the frequent traders with the bonus and rewards programs.
• The exchange is well-known for its instantaneous deposit and withdrawal process that will save the traders lot of time. With no network congestion, the traders can experience high-speed transfers.

Issues With Yobit

Yobit is a cryptocurrency exchange that invokes mixed feelings in the minds of people. It appears perfect on the paper with the ideal trading conditions and diverse choice of altcoins that makes it an interesting substitute for other exchanges, but it is plagued by accusations and criticism like;

• The exchange is currently undergoing fraud investigation by the Russian authorities. The company denies any wrongdoing and points finger at the Ukraine-based crypto-exchange EdinarCoin.
• The company is one of the few cryptocurrency exchanges that do not offer any information of the team working behind the project or the location. The website suggests hints that the exchange is based in Russia, but no hard proof is available to establish the claim.
• It offers the users Dice game and an option known as InvestBox that appears shady.
• It imposes withdrawal fees on cryptocurrency and fiat transfers.

Yobit is controversial for many reasons like anonymous owners, scam coins listed on the site, ongoing fraud investigation, etc. So, it is safe to keep a distance from the exchange as it not entirely reliable. Until the exchange takes necessary steps to overcome its drawbacks, users can keep a distance from it. It is necessary from the security point of view for Yobit users. So for more details, you may contact Yobit support phone number quickly.

There may be many issues you may face with it but you should look for the best online platform to get the best customer support. Wallet online is the best place to get quick fix of all your issues associated with digital assets.