Be careful when depositing Ethereum to yobit Exchange

[Josemendez]

Smart contracts are self operating network. Transaction are carried on it's own without any third party coming to it . Other network involves a third party processing the transaction. If there is a loophole on the smart contracts , there could be a possible attack as with what happened recently in the poly network hack

 

[Kingstone]

I can't just imagine how irritating and disappointed one will be. There must be foul play in the process and why would they profit off from someone's income? Besides, they have a small amount for transactions made on their platform.

 

[BrolySSJ]

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.

The reputation of the exchange is not that high and i have seen many people that have raised concerns with it on social media, especially when it comes to opening a support ticket that is not responded to.

 

[GIFTMICHAEL]

ETH is tge only coin in the top 10 list in the market i never transacted with. Cos it looks like it bears a smart contract that might not be compatible for me sending to external wallets. My fear is that let it not hang on the blockchain cos of issue of smart contract embedded into it.

 

[Josemendez]

ETH is tge only coin in the top 10 list in the market i never transacted with. Cos it looks like it bears a smart contract that might not be compatible for me sending to external wallets. My fear is that let it not hang on the blockchain cos of issue of smart contract embedded into it.

Provided you are sending the ethereum from the right address to the right network , the transaction will be completed without any issue .

 

[tuna89]

Thanks a lot for these info, the best is to understand reviews of all these exchanges before investing in them, some of them turn out to have serious issues on the long run, binance has been a trusted exchange which i patronize very well and i have never had issues with them.

 

[Good-Person]

I have never used them before but I am sure that they are one of the most popular and pretty old exchangers. I do not plan to use them because I have read many bad reviews about them. They have a really bad rating on Trust Pilot and some other review sites as well.

 

[GIFTMICHAEL]

Provided you are sending the ethereum from the right address to the right network , the transaction will be completed without any issue .

Yes, that's what I learnt recently. And I should always be careful with Cryptocurrency in order not to omit one word from it, be it with ETH or any other.

 

[Zevin]

I am not using Yobit, therefore, I do not have to worry about this exchange. It is not a good idea to store your funds on exchanges, especially centralized exchanges.

 

[Josemendez]

I am not using Yobit, therefore, I do not have to worry about this exchange. It is not a good idea to store your funds on exchanges, especially centralized exchanges.

Mostly people prefer using exchange for transaction because of the gas fee related issues . So there trading is done on exchanges and they holdl coins in Dex wallets.

 

[Hena101]

This is a very good information that can help many avoid losing their crypto currency in any platform because we ought to be our brothers keepers all the time.

 

[BrolySSJ]

Provided you are sending the ethereum from the right address to the right network , the transaction will be completed without any issue .

How can you be sure about the network though unless you can see it on your wallet? For example i lost when i was trying to withdraw from faucetpay into the yobit exchange site.

 

[Josemendez]

How can you be sure about the network though unless you can see it on your wallet? For example i lost when i was trying to withdraw from faucetpay into the yobit exchange site.

If you want to send ERC ethereum , you should copy the ERC address from the exchange . If you mistakenly copy Bep20 address , the money will be lost. Secondly , there is minimum deposit amount , you should be aware of this

 

[Justin]

I am glad that this topic is being discussed here. You need to be very careful in using crpto exchange because some exchanges are prone to hacking. If that happens you will lose your funds.

 

[BrolySSJ]

If you want to send ERC ethereum , you should copy the ERC address from the exchange . If you mistakenly copy Bep20 address , the money will be lost. Secondly , there is minimum deposit amount , you should be aware of this

Most of the websites that I have used actually do have a minimum amount and this is true when it comes to making a deposit or even taking out money from that specific cryptocurrency exchange. It is understandable considering the high transaction fees and also the fact that they do have to confirm it on the exchange site as well.

 

[Josemendez]

Most of the websites that I have used actually do have a minimum amount and this is true when it comes to making a deposit or even taking out money from that specific cryptocurrency exchange. It is understandable considering the high transaction fees and also the fact that they do have to confirm it on the exchange site as well.

I once lost $100 because I deposited below minimum deposit to an exchange. The coin was frozen and despite explaining to them that the reduction was from the taxation , they didn't accept it.

 

[BrolySSJ]

I once lost $100 because I deposited below minimum deposit to an exchange. The coin was frozen and despite explaining to them that the reduction was from the taxation , they didn't accept it.

This is a very substantial amount and I am actually quite surprised that $100 was still below the limit that they have on that exchange fight because many people actually don't even have this much. The most that I have seen is generally around $50 so it is quite surprising. However I hope that you were able to recover from that loss and make enough in order to supplement that.

 

[Rhapsody]

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.

Then which one is contract address. Is contract address not address that has its own token created on etherium network. If your etherium is not a contract address then why will they not credit you. That is why I don't waste my time and money on exchangers other than binance

 

[Hena101]

This is a good review and this also serve as an eyes opener to everybody that don't do research before opening account with crypto currency platform.

 

[Grandeur]

Ethereum has been having some issues depositing not only on yobbit but I also noticed this on my roqqu wallet that there's a particular time roqqu processes deposits of ETH