Yobit vs Binance: Fees, Coins, Safety Comparison
| Feature | Yobit | Binance |
|---|---|---|
Overall |
3.5 |
4.8 |
1 |
4.5 |
|
3.9 |
4.8 |
|
4.2 |
5.0 |
|
Investment Instruments |
4.5 |
4.7 |
Platforms and Charting Tools |
1.8 |
4.9 |
Deposit and Withdrawal |
4.0 |
4.7 |
Research |
2.1 |
4.6 |
Education |
1.5 |
4.8 |
Support |
2.5 |
4.8 |
Bonuses |
4.6 |
4.2 |
|
Your capital is at risk.
|
Your capital is at risk.
|
Yobit vs Binance: Pros and Cons
The Yobit exchange is a universal cryptocurrency trading platform. The service has a proprietary trading terminal (browser version only, no mobile trading). Bitcoin, Litecoin, Tether, and many other cryptocurrencies are traded on this exchange. Among fiats, there are the US dollar and the Russian ruble. The company has its own tokenized coin called the YoDefi, which can be used in investment programs. There is also a virtual mining service with daily payments. The YoBit exchange offers a standard investment program with affiliate bonuses of up to 20%. The trading commission on the crypto exchange is fixed at 0.2% of the transaction amount. They employ all major channels for depositing/withdrawing funds, including bank cards and e-wallets. You can trade on the platform without verifying user data.
The Binance exchange is one of the largest cryptocurrency exchanges in the world with its headquarters in Hong Kong. According to the CoinMarketCap cryptocurrency portal, Binance holds the top spot in terms of aggregate indicators of the platform's daily turnover, the number of novices and active users, liquidity, and web traffic (ranking, queries, statistics in search engines, etc.). The exchange is also a cryptocurrency startup that has its own “native asset” used in the Binance ecosystem as the “basis gas” (payment internal unit).
| Yobit | Binance | |
|---|---|---|
| Overall Pros | large selection of cryptocurrencies, there are pairs with fiat; | Trading With Leverage up to 1:100 |
| simple and convenient interface of the trading terminal; | Low Trading and Non-Trading Fees | |
| their service coin, which can be obtained for free | 10+ Account Fiat Currencies + 50 Crypto | |
| well-thought-out investment system | Derivatives, NFT, ETF are Available | |
| single commission for all trading operations | Indicators are Available | |
| Passive Income With Staking and Mining Pool | ||
| Strong Research | ||
| Overall Cons | no KYC requirements, not regulated | No tier-1 regulation |
| only USD and RUB among fiats | ||
| there is no mobile trading | ||
| Limited Research | ||
| Limited education |
Yobit vs Binance: Safety and Regulation
| Regulated By: | Yobit | Binance |
|---|---|---|
Government-regulated |
No |
Yes |
U.S Regulated |
No |
No |
FCA U.K Regulated |
No |
No |
Germany Regulated |
No |
No |
AMF in France Regulated |
No |
Yes |
Spain Regulated |
No |
Yes |
DFSA in UAE |
No |
No |
Singapore Regulated |
No |
No |
Australia Regulated |
No |
Yes |
Seychelles Regulated |
No |
No |
Other countries |
OAM (Italy), FIU (Lithuania), Swedish Financial Supervisory Authority, Bank of Spain, AFSA (Kazakhstan), CASP (Bahrain), VARA (Dubai), FIU-IND (India), Bappebti (Indonesia), JFSA (Japan), FSP (New Zealand), Securities and Exchange Commission of Thailand, DASP (El Salvador), CNV (Argentina) |
Yobit vs Binance: Trading Conditions
| Trading Conditions | Yobit | Binance |
|---|---|---|
Minimum deposit, USD or USDT |
30 |
0 |
Futures leverage |
100 |
|
Spot leverage |
1 |
10 |
Supported Coins |
196 |
415 |
Trading platform |
||
DFSA in UAE |
||
P2P |
0 |
1 |
Perpetual contracts |
0 |
1 |
Yobit vs Binance: Fees
| Fee | Yobit | Binance |
|---|---|---|
Spot Taker fee |
0,2 |
0,1 |
Spot Maker fee |
0,2 |
0,1 |
Futures Taker fee |
Not supported |
0,05 |
Futures Maker fee |
Not supported |
0,02 |
Deposit fee |
No |
No |
Withdrawal fee |
0,0005 BTC |
0-3,5% |
P2P taker fee |
Not supported |
0,1 |
P2P fee rate, maker fee |
Not supported |
0,1 |
Yobit vs Binance: Trading Assets
| Asset Name | Yobit | Binance |
|---|---|---|
Coins Supported |
196 |
415 |
P2P |
No |
Yes |
Perpetual contracts |
No |
Yes |
NFT |
Yes |
Yes |
Crypto Options |
No |
Yes |
Futures |
No |
Yes |
Yobit or Binance: Investment Programs
| Asset Name | Yobit | Binance |
|---|---|---|
Staking |
Yes |
Yes |
Copy trading |
Yes |
Yes |
Yield farming |
Yes |
Yes |
Affiliate program |
Yes |
Yes |
Trading Platforms: Binance or Yobit
| Yobit | Binance | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
Yes |
Mobile (Android, iOS) |
No |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Binance or Yobit
| Yobit | Binance | |
|---|---|---|
SMS Based 2 FA |
Yes |
Yes |
App Based 2 FA |
no |
Yes |
Voice Call 2 FA |
no |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Binance or Yobit
| Yobit | Binance | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
No |
Yes |
Live 2 Quotes |
No |
Yes |
Mobile trading: Binance or Yobit
| Yobit | Binance | |
|---|---|---|
iOS Version |
No |
Yes |
Android Version |
No |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Binance or Yobit
| Yobit | Binance | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
Yes |
Yobit vs Binance: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Yobit | Binance |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
Yobit vs Binance: Research
| Research Type | Yobit | Binance |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
NO |
Yes |
Yobit vs Binance: Education
| Education Type | Yobit | Binance |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Binance vs Yobit: Support
| Support Features | Yobit | Binance |
|---|---|---|
Working Days |
24/7 |
24/7 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
no |
Yes |
Other |
Tickets |
Telegram |
Yobit vs Binance: Crypto Bonuses and Promo
| Promo | Yobit | Binance |
|---|---|---|
Crypto Bonus |
Sign-up bonus, Referral bonuses |
No |
Affiliate Program |
YoBit offers a standard investment program in which any registered user can participate. After registration in the personal account, you will get a personal referral link. Thanks to this link, you can get additional income in the following way: The referral link can be sent to users via private channels or posted in the public domain. Each user who registers with the exchange using your referral link becomes your partner. You receive 20% of all trading commissions of your referrals. Plus you get a 5% commission on every Bitcoin purchase. |
40% of the partner's trading commissions |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Binance
-
Comment
Prefer using Binance because of their low fees. They are the catalyst of low trading costs at a time users are sick of getting burned by high trading fees on platforms like Coinbase. I remember clearly that upon its entry in the market, these platforms all raced to lower their fees because of knowing they will clearly lose market share to this newcomer. Binance has had a 0.1% spot trading fee since the beginning. Because it’s low I never bothered to check if they charge the exact amount in all of my trades, in small or big amounts. I just know that they always offer the best prices for the assets that I trade (I only trade in the spot market) and have an extensive list of tradable tokens. Cheap + flexible… the best one in the crypto market yet.
-
Comment
I like Binance’s trading terminal. It is modern, sleek, and shows relevant information you need for your trades spot on. At the same time, it is not intimidating to navigate around which is a common problem for crypto platforms that prioritize a modem vibe in their UI. It instantly shows the summary of my crypto portfolio, the distribution between assets and the amount, and has the daily PnL (profit and loss) record for the day. This way it is so easy to track which assets performed well in the last 24 hours and which ones lagged behind. I like to hold only a handful of assets for easy traceability of my wins. But even when I add a couple more, it is still uncomplicated to make sense of my stats. Love that crypto is now in a rollercoaster that only goes up and seeing all those greens in my portfolio gives me a great sense of motivation.
-
Comment
Binance has been super flexible when it comes to payment methods. It offers the usual mediums like bank deposit, debit card/credit card, crypto deposit, while also supporting newer ones like my favorite e-wallet. Integrating my e-wallet with my Binance account made all the withdrawals instant whenever I sell USDT in the P2P marketplace. The conversion rate is also attractive, making this method favorable to those who are frequently buying and selling on the platform. I withdraw money from them at least once a month and never experience delays. On a side note, I always use the same e-wallet account and had not tried doing it using bank transfers because of fees associated with doing so. There is no fee on this method so I prefer to use it over others.
-
Comment
Despite the growing number of reported hacks in the crypto space, I never once felt worried about using Binance as my crypto exchange. They have the most extensive security verification methods, and this makes me feel that trusting my funds with them is one of the best decisions I’ve made. Earlier this year I lost my phone number to which my Binance acct was connected and got very worried that my funds will be compromised. Turns out, it was easy to replace my old contact info with my new number, and they also suggested that I activate my 2-factor authentication for an extra layer of protection. I have also recently activated my passkeys for added security. All these years, Binance has been nothing but a trustworthy platform to me. I only trade crypto with them and nowhere else.
-
Comment
I created my account with Binance four years ago. It was during the middle of the crypto boom. I thought it was just a phase and would completely forget about it after the pandemic. But it turns out it is not :D. I still actively trade with the same account. Probably what made me stay is the ease of use, either when I am trading with the website or through the Binance app. Features in both platforms are easy to understand and use. I never had to consult YouTube videos as I normally do with my other brokerage accounts to figure out how a certain tool/button works. What you see is what you get. Never had issues with order execution, deposits, and withdrawals either which made the overall trading experience an excellent one all these years. I think Binance took over the crypto market easily for the same reason. It sold us the idea that trading is easy after all.
Top 5 Reviews on Yobit
-
Comment
I have been using Yobit exchange for a few months now, and I would like to point out that it is one of the best platforms for trading cryptocurrencies. One of the main reasons why I chose Yobit is the huge selection of cryptocurrencies. Here you can find not only popular coins such as Bitcoin and Ethereum, but also a lot of lesser-known altcoins, which gives great opportunities for portfolio diversification. In addition, the exchange offers trading pairs with fiat currencies, which greatly facilitates deposit and withdrawal of funds. I would also like to note the simple and convenient interface of the Yobit trading terminal. Everything is intuitive, and the speed of operations is high. Even a beginner will find it easy to understand and start trading on this platform. For me, the convenience and functionality of the interface are important criteria, and Yobit fully meets my expectations.
-
Comment
One of the most interesting features of the Yobit exchange is their service coin, which you can get for free. This is a great way to attract new users and encourage existing ones. I have received a few of these coins myself and I am pleasantly surprised by this bonus. It shows that Yobit cares about their customers and strives to make trading on their platform even more attractive. In addition, Yobit's investment system is well thought out. The exchange offers various investment tools that allow not only trading, but also investing in cryptocurrencies for long-term earnings. Convenient conditions, transparency and security - all this makes Yobit one of the best platforms for those who want to reliably and profitably invest their funds.
-
Comment
My experience with Yobit has been subpar, marked by frustration, inconvenience, and a lack of confidence in the platform's reliability and security. While it may be okay for occasional traders, serious investors and experienced traders would be better served by exploring alternative exchanges with better reputations and track records.
-
Comment
In principle, you can make money with Yobit, I traded here for more than six months and got a small, but profit. Both for independent trading and for participation in investment programs. In terms of commissions, the exchange is convenient, there is a fixed amount of 0.2%, you can replenish your account without problems and the withdrawal is also not delayed. The terminal is standard, I did not notice any glitches. But here's what annoys me: Yobit does not have a mobile application, and verification is optional. Exchanges are rarely licensed anyway, so KYC is the minimum protection, and even that is not here. I do not recommend trading here for beginners, it is better to choose more proven options, which will also provide a base for learning, which Yobit does not have.
-
Comment
I will be objective. Yobit is suitable for those who aim to get results quickly. I have traded here for a while, but the account was closed as unnecessary for me. It is also alarming that there is no special regulation, verification is optional. For me, reliability has always been associated with verification, so I did not dare to trade here for a long time. But I will note that the money that I earned in two weeks was withdrawn to me quickly, that is, there were no delays or calls from Yobit managers with “profitable offers”.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.