Yobit Exchange Plagued By Withdrawal And Coin Listing Delays

There are many digital currency exchanges available to enthusiasts all over the world. Some of these platforms are more successful than others, even though there is always a growing demand for additional options. YoBit is one of those exchanges which has been getting a fair bit of attention lately, but withdrawal issues and delayed premium coin listings are spelling disaster for this platform.

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YoBit Faces Multiple Issues

TheMerkle_Digital Currency Yobit.net

On the surface, YoBit can become a major contender in the world of digital currency exchange platforms over the next few years. They are offering ICOs to be listed on the exchange – something a lot of people oppose though – and their selection of altcoins keeps growing week over week.

As the number of decent altcoin exchanges has been dwindling as of late – thanks to Cryptsy closing down – there is plenty of room to take the competition to Bittrex and Poloniex. YoBit aims to do exactly that, although running an altcoin exchange is not as easy as some people might have thought it would be.

To earn additional revenue – other than the standard trading fees – YoBit allows coin developers to pay a small amount of Bitcoin for a premium listing. Such a listing would give the coin in question additional exposure for a limited time, and is a service offered by other cryptocurrency exchanges as well.

But there seem to be certain issues with this system, as complaints are surfacing on the BitcoinTalk forums from coin developers who have paid for a listing several days ago, without response from YoBit. While there may be several reasons as to why this is the case, it is not a positive sign for this aspiring digital currency exchange.

Unfortunately, that is not the only issue YoBit is facing right now. user withdrawals are processed manually, and they seem to be delayed by quite a margin as well. One user noted how he has been waiting for over 15 hours, and got no reply to YoBit tickets opened since noticing a major delay.

YoBit definitely has some issues they need to sort out sooner rather than later. Support tickets go unanswered for far too long, and users are getting antsy about pending delays and coin listings. Hopefully they will be able to resolve everything, and resume operations as normal.

Source: Bitcointalk

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  • Stephen Kuehl

    Would like some feedback on the accuracy of this article.