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YoBit

2.8 from 8 votes
Russia
Supported coins

Fees

Taker fee

0.2%

Maker fee

0.2%

Withdrawal fee

0.0005

Funding methods

Wire transfer

Credit card

Other crypto

US investors permitted


YoBit Review

A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of YoBit consists of four parts: general information, fees, deposit methods and security.

General Information

YoBit is a Russian cryptocurrency exchange. It has an extremely impressive selection of altcoin trading pairs. If you can’t find the altcoin here, chances are you can’t find it at all…

YoBit does not explicitly state that US-investors are prohibited from trading. Accordingly, we do believe that US-investors can trade here. Any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.

Trading Chart

YoBit’s trading chart contains a lot of information, but is still quite intuitive. Have a look for yourself here:

YoBit Trading Chart

YoBit Fees

YoBit Trading fees

This Russian cryptocurrency trading platform doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. YoBit charges 0.20% (regardless if you are a maker or a taker). These fees are quite competitive as the global industry average is around 0.25%. It can also be noted that all Russian cryptocurrency exchanges that we present in our Cryptocurrency Exchange List have flat trading fees between 0.10% and 0.20%, so no exception from the rest of the group here.

YoBit Withdrawal fees

Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.

Not YoBit.

YoBit charges you 0.0005 BTC when you withdraw BTC. From a local (Russian) perspective, this is actually the lowest withdrawal fee that we know of. Very good, YoBit!

Deposit Methods

At YoBit, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.

One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards, and whereas it might be indifferent to you whether you should deposit via wire transfer or credit card, it might be very different fees. Some exchanges charge a deposit fee of up to a staggering 11% for credit card deposits.

So keep an eye open for the different fiat currency deposit fees.

Security

YoBit’s security score is D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.

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If you have concluded that this is the exchange for you, congratulations! Go for it. But if not, find the best cryptocurrency exchange site for you by using our revolutionary matching tool.

Good luck!

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