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YoBit.net Review

YoBit (YoBit.net) is an online cryptocurrency exchange that was created on August 25th, 2014 by an undisclosed entity.

yobit.net
YoBit.net

YoBit Review

YoBit operates as an online cryptocurrency platform where investors can participate in online investing, dice games and exchange their digital currencies.

Regrettably, YoBit does not disclose any information of value regarding their operation such as ownership information, formation date, FAQs or contact methods.

This discovery then prompted us to conduct a WHOIS domain search on YoBit.net where we were just as unsuccessful in finding out pertinent information. According to the report, YoBit was a privately registered domain that was created on August 25th, 2014 by an undisclosed entity out of Moscow.

YoBit supports a wide variety of cryptocurrencies such as Bitcoin, Litecoin, Dogecoin, Ethereum and Bitcoin Cash to name a few.

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The only way of establishing communication with YoBit would be through their support page where they feature a submission ticket form, which according to relevant community feedback, is beyond ineffective and has resulted in many ticket inquiries going unresolved.

A live chat box is featured at YoBit although it can only be used to communicate with other members.

YoBit.net Scam

YoBit renders an overwhelming site template for those who are new to the cryptocurrency exchange world. Failing to disclose vital operational and ownership information, we were not at all impressed with their platform to say the least.

YoBit fails to provide any other methods of communication besides their highly discredited ticket system.

As a search engine result of “YoBit scam” will suggest, the community consensus regarding YoBit.net is that their platform is a ruthless cryptocurrency scam.

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According to SimilarWeb, YoBit.net had a global rank of 2,258 with a Russia rank of 334 as of February 2018. Ranked 22nd in the Finance Investing category, YoBit receives over 31% of their traffic from users who live within Russia while over 36% of their sites traffic is referral based.

Despite YoBit reflecting a powerful site rank, research will reveal that their operation has participated in some unethical and down-right illegal practices according to consumer feedback.

Found at CryptoCompare, we have found an endless mound of investor complaints filed against YoBit. Theft of cryptocurrency funds is the most abundantly reported complaint while other victims have reported that their ticket inquiries never become resolved.

If the hundreds of investor complaints can be believed, which we find nearly indisputable, then it goes without question that YoBit is not a legitimate nor credible cryptocurrency exchange for investors.

Given the recent outcry of investor complaints filed against YoBit we have no other option than to classify this operation as one that cannot be trusted. Operating with anonymity while having endured innumerable investor complaints that are growing everyday, our recommendation as a whole would be to avoid YoBit.net.

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If you have any first-hand experience or knowledge pertaining to YoBit we ask that you please leave a comment below to aid our growing community.

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10 Comments

  1. Jesse

    I just got scammed BIG TIME by Yobit.io.. Lost 80% of my investment on FALSELY ADVERTISED FAKE COINS.. The place is a cess poll of scammers and scams. Literally the worst and most scammy exchange I’ve ever encountered.. Don’t even pretend to think you know what you’re buying on there.. On top of the exchange itself misrepresenting coins, there’s scammers who are clearly insiders at the exchange as they respond to the SUPPORT messages showing they’re able to read them.. I was trying to get help withdrawing my SCAM coins and some other SCAMMER tried to convince me to deposit another 0.1 BTC to solve my problem and tried to get me to send my codes to some other email.. I’m SURE it’s an insider, but if I had fallen for it they would have just said it was my fault.. STEAR CLEAR!!

  2. Mike

    Yobit may have slightly higher fees and I’d steer clear of the dice game unless you wanna become a cryptobum but other than that they never stole my coin

  3. Marton Suu

    Yobit scam he have multyply domain yobit.io and yobit.net i deposite 2 BTC and then, when i want to deposite 20000 YOVI, They are Disable address for generate deposite address

  4. Rogier

    Unfortunately I have read this now and not earlier.
    Yobit has stolen $1340 of my funds. They do not respond on the support.

    Hope you read this before deposit any coin there.

  5. Nobit

    Yobit is a scam exchange that never responds to support tickets and regularly steals user funds. Do your own research and you will find forums littered with posts from people who lost their funds to this shitty excuse for an exchange.

  6. DaxRobot
  7. Kyrtin Atreides

    They don’t just scam people who choose to try Yobit, they post coins on other exchanges knowing that the other exchanges will close trading on them, forcing hapless investors from that exchange to migrate their new coins to the only exchange with a listing for them, Yobit. They pulled this scam on CoinExchange with SFE, and probably other coins, where they posted the coin, pumped it, and then watched it crash the moment CoinExchange announced it would discontinue trading of the coin less than a week after it appeared. Everyone with unsold coin transferred it to Yobit, where all of it was promptly stolen. No wonder the Russian government is currently investigating them, they are destroying exchanges other than their own with these scams. I’m not investing another penny in cryptocurrencies until Yobit’s operators are dead or in prison, because they are sure to wreak havoc across the exchanges otherwise.

  8. marvin schriber

    Yobit does not respond to support messages. They stold 156 bxt from me and I cant believe I have no recourse. They should be prosecuted

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