Be careful when depositing Ethereum to yobit Exchange

[Nomad]

I am sorry of I hurt anyone with my comment. But when I hear the word Russian, I am simply alarmed. That's because some of the biggest scams and ponzi scheme came out from Russia

 

[Hena101]

Thank for the information, but if that's the case then there is no need to even deposits it there because of the risk it involved.

 

[jeff87]

Yobit is a Russian exchange platform that is quite popular and there are many people that make use of it as well. There are many coins that are listed there, and they often release their own coins as well. There are some that turn out to be successful and there are others that have seen little to no success in the market for trading.

There is one thing that I would like to draw your attention to and this is from a personal experience. Yobit only accepts transactions for Ethereum deposits that are done so without a contract. In my opinion it is hard to say which transactions are contracts and which aren't and when I made a transaction of just over 0.1 ETH into yobit, it was not credited as it was registered as a contract transaction. Therefore, it was credited to yobit, and they benefited from the transaction and not deposited to my exchange on the account.

Therefore, I implore you to be careful and make sure when you deposit ETH into the exchange. If you unsure my advice is to deposit in another currency and then from there you can exchange it to ETH.

Thanks for the warning that you have given to us. It's good that you share this from your personal experience. I will not experience it myself because you have already warned me. I don't have Yobit exchange yet. And if ever I will have, I will see to it that I have followed your instructions.

 

[gammarays]

I think that there's a notification that you can't deposit to a contract address or your funds will be missing. Crypto is almost impossible to reverse so any token send to a wrong address will be lost. Try to check conditions and disclaimers attached before making deposits.

 

[BrolySSJ]

Thanks for the warning that you have given to us. It's good that you share this from your personal experience. I will not experience it myself because you have already warned me. I don't have Yobit exchange yet. And if ever I will have, I will see to it that I have followed your instructions.

Yobit is a good exchange otherwise, and the one feature that i like on the exchange is that there is an investment option where you receive a percentage for each day that you keep your coins in their investment.

 

[Dowenship]

Yobit is a Russian exchange platform that is quite popular and there are many people that make use of it as well. There are many coins that are listed there, and they often release their own coins as well. There are some that turn out to be successful and there are others that have seen little to no success in the market for trading.

There is one thing that I would like to draw your attention to and this is from a personal experience. Yobit only accepts transactions for Ethereum deposits that are done so without a contract. In my opinion it is hard to say which transactions are contracts and which aren't and when I made a transaction of just over 0.1 ETH into yobit, it was not credited as it was registered as a contract transaction. Therefore, it was credited to yobit, and they benefited from the transaction and not deposited to my exchange on the account.

Therefore, I implore you to be careful and make sure when you deposit ETH into the exchange. If you unsure my advice is to deposit in another currency and then from there you can exchange it to ETH.

Imagine... That's a broad day light robbery... But was your transaction reversed or it didn't reverse at e long run. If so contact their support team...

 

[Setho]

Thank you very much for making this very clear for us the really I am actually someone who just prefer to use the most popular cryptocurrency exchanges and wallets instead.

 

[BrolySSJ]

Thank you very much for making this very clear for us the really I am actually someone who just prefer to use the most popular cryptocurrency exchanges and wallets instead.

Sometimes it is a lot better to stick with the cryptocurrency exchange sites that are reputable and that has a lot of good uses that can vouch for its legitimacy as well. This will inevitably give you more confidence in the exchange site and as a result you will be more willing to take risks when it comes to cryptocurrency which is an important Factor in any investment within the crypto world.

 

[joy101]

Thanks for sharing, because one need to be very careful when it comes for deposit in ethereum or transaction, one need to be careful so that you would not miss money.

 

[Monster Masterpiece]

I got banned from yobit exchange since a long time, therefore I open yobit account to receive cryptotalk earning and then one day the yobit account was banned without any reason.

 

[Yusuf]

I haven't been using the platform and that is because of the fact that I don't seems to see any platform worthy to use like that of binance and kucoin. These two PLATFORMs are powerful and have strong security system

 

[Tolumi]

Yobit is a Russian exchange platform that is quite popular and there are many people that make use of it as well. There are many coins that are listed there, and they often release their own coins as well. There are some that turn out to be successful and there are others that have seen little to no success in the market for trading.

There is one thing that I would like to draw your attention to and this is from a personal experience. Yobit only accepts transactions for Ethereum deposits that are done so without a contract. In my opinion it is hard to say which transactions are contracts and which aren't and when I made a transaction of just over 0.1 ETH into yobit, it was not credited as it was registered as a contract transaction. Therefore, it was credited to yobit, and they benefited from the transaction and not deposited to my exchange on the account.

Therefore, I implore you to be careful and make sure when you deposit ETH into the exchange. If you unsure my advice is to deposit in another currency and then from there you can exchange it to ETH.

Not only Yobit but most exchanges. Many exchanges don't accept Ethereum deposits from or to Ethereum smart contracts. Asides from that transferring Ethereum between wallets and exchanges is a pain, I lost over $16 to fees while transferring Ethereum worth only $17 two days ago.

 

[Hena101]

Thank you very much for making this very clear for us the really I am actually someone who just prefer to use the most popular cryptocurrency exchanges and wallets instead.

That's the truth because it can help you minimize losses and when depositing on any wallet you must check their notification to see if its safe to deposits at that time.

 

[Nurudeen]

This is a good Information and thanks for passing it across to us. This will really help a lot of people to be careful when making any dealing with the crypto currency exchange platform

 

[eLdavis]

This does not make any sense to me at all, in other words you are saying they took your funds for themselves and didn't refund back to you?

 

[Setfragil]

This is a very good information that needs to be read carefully and digested. I have never experience this issue on another exchange platform before. I will sure take note in case I find myself in yobbit exchange.

 

[BrolySSJ]

Not only Yobit but most exchanges. Many exchanges don't accept Ethereum deposits from or to Ethereum smart contracts. Asides from that transferring Ethereum between wallets and exchanges is a pain, I lost over $16 to fees while transferring Ethereum worth only $17 two days ago.

This is practically the entire amount that you have lost in transaction fees and that is very sad to see. Do you have any idea as to why this is the case when it comes to cryptocurrency exchange websites because I would think that they would be able to accept and process any transaction that comes on any network if it is supporting the coin that is in question.

 

[Josemendez]

Most exchanges do not allow users to send money from smart contracts because of some possible attacks that may come with it. Also , it seems difficult in most cases for the transaction to be confirmed.

 

[BrolySSJ]

Most exchanges do not allow users to send money from smart contracts because of some possible attacks that may come with it. Also , it seems difficult in most cases for the transaction to be confirmed.

How would a possible attack come from a smart contract transaction if I may ask? From my understanding I thought it would be a normal transaction just as you would send the cryptocurrency coins over a regular network so what is the difference between a smart contract and a normal network transaction?

 

[Niftyyem]

This situation is just peculiar to Yobit and I honestly think it is fraudulent on their part. I hardly use the exchange because I am just not impressed with its reputation.