YoBit is a Russian based cryptocurrency exchange platform that was founded in 2015. The founder — or founders — of YoBit are unknown, but there are allegations that Pavel Krymov is the founder of YoBit. YoBit uses file system encryption, SSL, anti-ddos, cold and hot wallets, and a real-time encrypted data backup to provide security for its users.
YoBit does not charge trading or deposit fees for cryptocurrency transactions on their platform, however, they do charge withdrawal fees that vary depending on the method of withdrawal. The YoBit platform accepts the following payment methods: cryptocurrency transfer, AdvCash, Capitalist, Payeer, Perfect Money, and QIWI. YoBit allows users to exchange USD and RUB fiat currencies in exchange for over 400 cryptocurrencies, and charges 0.2% or less in fees per transaction.
In October 2018 it was suspected YoBit's twitter account was hacked after the account announced YoBit will pump random coins into its own exchange. It is still unknown is this announcement came from YoBit itself or it was from someone who managed to hack their twitter account.
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YoBit review 2018 | Features, fees and more | finder.com
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- Cluster: Blockchain and cryptocurrencyA cluster of topics related to blockchain and cryptocurrency.
- CompanyA company, abbreviated 'co.', is a legal entity made up of an association of people, be they natural, legal, or a mixture of both, for carrying on a commercial or industrial enterprise.
- Cryptocurrency exchangeCryptocurrency exchanges are exchange markets for trading cryptocurrencies.
- CryptocurrencyA cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are a subset of alternative currencies, or specifically of digital currencies.
- BlockchainA blockchain is an append-only digital ledger storing a set of time-ordered transactions grouped in blocks that are linked together using cryptographic hashes.