Yobit vs Hotbit: Fees, Coins, Safety Comparison
| Feature | Yobit | Hotbit |
|---|---|---|
Overall |
3.5 |
3.8 |
1 |
1.8 |
|
3.9 |
4.1 |
|
4.2 |
5 |
|
Investment Instruments |
4.5 |
5 |
Platforms and Charting Tools |
1.8 |
4.1 |
Deposit and Withdrawal |
4.0 |
3.5 |
Research |
2.1 |
1.2 |
Education |
1.5 |
1.5 |
Support |
2.5 |
2.4 |
Bonuses |
4.6 |
1 |
|
Your capital is at risk.
|
Yobit vs Hotbit: 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 Hotbit cryptocurrency exchange offers spot and ETF trading without leverage. Bitcoin and the most popular altcoins are traded on the platform, including Ethereum, Litcoin, Ripple, etc. Several fiat currencies are represented, including the US dollar, euro, and Chinese yuan. The exchange implements five investment solutions, including De-Fi coin deposits, lending, and POS. Trading commissions on the exchange are fixed and do not depend on the trading volume, for example, 0.05% for the maker, and 0.2% for the taker. The commission for withdrawing funds by any of the methods is BTC 0.001 or the equivalent in the withdrawn currency. In addition to the web terminal, there is a mobile application for iOS and Android. There is a listing that promotes the addition of new cryptocurrencies, and coins are constantly being added to the platform.
| Yobit | Hotbit | |
|---|---|---|
| Overall Pros | large selection of cryptocurrencies, there are pairs with fiat; | Over 1500 supported coins |
| simple and convenient interface of the trading terminal; | the simple and convenient trading platform | |
| their service coin, which can be obtained for free | five investment solutions | |
| well-thought-out investment system | Negative maker's fee | |
| single commission for all trading operations | Leveraged ETF contracts | |
| Overall Cons | no KYC requirements, not regulated | Non regulated |
| only USD and RUB among fiats | Successful hack attacks | |
| there is no mobile trading | US customers are not supported | |
| Limited Research | high taker's fee | |
| Limited education |
Yobit vs Hotbit: Safety and Regulation
| Regulated By: | Yobit | Hotbit |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
Not regulated, no KYC requirements |
No |
Yobit vs Hotbit: Trading Conditions
| Trading Conditions | Yobit | Hotbit |
|---|---|---|
Minimum Deposit |
0.0005 BTC |
$1 |
Trading Platforms |
yobit |
Hotbit |
Max Leverage (Futures) |
44562 |
44562 |
Number of Markets |
257 |
1500+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
USD, RUB |
Cryptocurrencies, Fiat currencies |
Yobit vs Hotbit: Fees
Trading Fees
| Fee | Yobit | Hotbit |
|---|---|---|
Max Maker |
0.20% |
-0.05% |
Max Taker |
0.20% |
0.65% |
Min Maker |
0.20% |
-0.5% |
Min Taker |
0.20% |
0.20% |
Debit/Credit Card Purchase Fee |
Not supported |
Not supported |
Futures Trading fees
| Fee | Yobit | Hotbit |
|---|---|---|
Max Maker |
not supported |
not supported |
Max Taker |
not supported |
not supported |
Min Maker |
not supported |
not supported |
Min Taker |
not supported |
not supported |
Non-Trading Fees
| Fee | Yobit | Hotbit |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
Not supported |
Not supported |
Debit/Credit Card Withdrawal Fee |
Visa/Mastecard fee |
|
BTC Withdrawal Fee |
0.0005 BTC |
0.001 BTC |
Inactivity Fee |
No |
Yobit vs Hotbit: Trading Assets
| Asset Name | Yobit | Hotbit |
|---|---|---|
Overall |
212 tokens |
1500+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
No |
NFT |
No |
Yes |
Crypto ETF |
No |
Yes |
Yobit or Hotbit: Investment Programs
| Asset Name | Yobit | Hotbit |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Farming |
Lending. Credits are provided to projects by affiliates of the exchange; Deposits in De-Fi coins; Quantitative and Incentive Plans. In both cases, the investor provides cryptocurrency from his account for the development of blockchain projects and the personal needs of the platform. |
Trading Platforms: Hotbit or Yobit
| Yobit | Hotbit | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
No |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: Hotbit or Yobit
| Yobit | Hotbit | |
|---|---|---|
SMS Based 2 FA |
Yes |
Yes |
App Based 2 FA |
no |
No |
Voice Call 2 FA |
no |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Hotbit or Yobit
| Yobit | Hotbit | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
No |
Yes |
Live 2 Quotes |
No |
No |
Mobile trading: Hotbit or Yobit
| Yobit | Hotbit | |
|---|---|---|
iOS Version |
No |
Yes |
Android Version |
No |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Hotbit or Yobit
| Yobit | Hotbit | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
Yobit vs Hotbit: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Yobit | Hotbit |
|---|---|---|
Bank Transfer |
No |
No |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
Yobit vs Hotbit: Research
| Research Type | Yobit | Hotbit |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
No |
No |
Chart Analysis |
No |
No |
Trading Ideas |
No |
NO |
E-Mail Reports |
NO |
No |
Yobit vs Hotbit: Education
| Education Type | Yobit | Hotbit |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
No |
Hotbit vs Yobit: Support
| Support Features | Yobit | Hotbit |
|---|---|---|
Working Days |
24/7 |
24/7 |
No |
Yes |
|
Phone |
No |
No |
Online chat |
no |
Yes |
Other |
Tickets |
No |
Yobit vs Hotbit: Crypto Bonuses and Promo
| Promo | Yobit | Hotbit |
|---|---|---|
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. |
No |
|
Your capital is at risk.
|
Top 5 Reviews on Hotbit
-
Comment
The Hotbit exchange behaved unworthily after closing. They promised to withdraw the money within a few months in 2023. But now it's already February 2024, and my 5000 USDT are still on this exchange. And I suppose I won't be able to get my money back. Even the fact that the Hotbit exchange was registered didn't help me get my money back.
-
Comment
The Hotbit exchange is the most disgusting platform for cryptocurrency trading. Not only did their platform work very poorly, but they also didn't withdraw my funds after announcing the closure of the exchange. This is already called fraud. A group of traders and I tried to file a collective lawsuit, but we were told that we wouldn't achieve anything.
-
Comment
At first, the Hotbit exchange announced the temporary suspension of Bitcoin withdrawals, then they halted USDT withdrawals. I should have reacted immediately, converting everything to XRP and withdrawing. My friend did just that. However, I waited for the situation to be resolved. When the announcement came about the cessation of Hotbit's operations, it was already too late. Although they mentioned that withdrawals could be made until July, none of my withdrawal requests were executed.
-
Comment
My access to the Hotbit exchange account was blocked even before the exchange announced the cessation of its operations. I don't know about the withdrawal situation for other users; however, nobody returned my money from Hotbit. I lost $1280 here, and I believe they were simply stolen!
-
Comment
HOTBIT is also nonsense. It allowed me to deposit money without verification. And when I decided to make a withdrawal, they demanded verification. And I didn’t pass it, I don’t know why. I am submitting documents for the second time, since I have to withdraw the money.
Top 5 Reviews on Yobit
-
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”.
-
Comment
When I first opened the YoBit exchange website, I thought that I would not trade here because there was a very strange main screen, a bunch of tables, and chat info. But a friend highly recommended this exchange, and I decided to give it a try. As a last resort, I can always close the account. But the YoBit exchange turned out to be good, so now I follow the cryptocurrency markets and often hang out in the chat for traders because there is a lot of useful information there, I made very profitable transactions several times quite spontaneously.
-
Comment
I often test different cryptocurrency exchanges to get an idea of the situation in this market. What can I say about the YoBit exchange? The first impression is mixed: when you just go to the site, you get lost in a multitude of windows, tables, everything moves. This is not very convenient. But, as it turned out, the trading conditions are acceptable: the commissions are low, there are plenty of cryptocurrencies and tokens, so both professionals and beginners will find suitable trading tools here.
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.