YoBit is a cryptocurrency exchange with a large number of coins, including new altcoins just released on ICO. Among the pairs, there are both cryptocurrency and fiat. YoBit supports all major, top-end coins, most forks of major currencies are supported, as well as numerous little-known currencies, among which there are once popular, and old unsuccessful, and new little-known, and tokens of recent ICOs. YoBit was founded in the summer of 2014, and trading became available in early January 2015. |
| Launched |
|---|
2014 |
Website: |
| Active instruments |
8,738 |
| Deposits |
Crypto, credit card |
| Exchange status |
Active |
| Has dex trading |
No |
| Has futures trading |
No |
| Has options trading |
No |
| Has spot trading |
Yes |
| Payouts |
Crypto |
| Security |
2fa, ssl encryption |
| Total trades spot |
71,208,387 |
| Verification |
Kyc varies |
Binance is currently one of the biggest and most popular cryptocurrency exchanges. Originally coming from Hong Kong, the company has recently moved its headquarters to Malta. Back at the beginning of its path the company had an ICO and gathered 15 mln USD. Participants got Binance Coin (BNB) which could be used to trade cryptocurrencies and pay for a fee on Binance exchange. |
| Launched |
|---|
2017 |
Website: |
| Active instruments |
1,395 |
| Deposits |
Crypto, bank transfer, credit card |
| Exchange status |
Active |
| Has dex trading |
No |
| Has futures trading |
YoBit is a cryptocurrency exchange with a large number of coins, including new altcoins just released on ICO. Among the pairs, there are both cryptocurrency and fiat. YoBit supports all major, top-end coins, most forks of major currencies are supported, as well as numerous little-known currencies, among which there are once popular, and old unsuccessful, and new little-known, and tokens of recent ICOs. YoBit was founded in the summer of 2014, and trading became available in early January 2015. | Binance is currently one of the biggest and most popular cryptocurrency exchanges. Originally coming from Hong Kong, the company has recently moved its headquarters to Malta. Back at the beginning of its path the company had an ICO and gathered 15 mln USD. Participants got Binance Coin (BNB) which could be used to trade cryptocurrencies and pay for a fee on Binance exchange. |
| Launched | |
|---|---|
2014 | 2017 |
Website: | Website: |
| Active instruments | |
8,738 | 1,395 |
| Deposits | |
Crypto, credit card | Crypto, bank transfer, credit card |
| Exchange status | |
Active | Active |
| Has dex trading | |
Live Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentIt's pretty simple to choose between the two platforms. Which exchange will protect your margins? Whatever type of trader you are – whether a high-frequency volume trader trying to beat maker-taker fees, or an investor needing cold storage – an exchange becomes your partner. We will explore how Yobit fares against Binance when it really matters.
Fees become the silent killer of any portfolio performance. Both exchanges utilize a tiered maker/taker fee model, which basically means you get lower fees for higher 30-day volumes. However, there are subtle differences – and the effect can be dramatic. Every additional 0.05% on taker fees will add up, cutting your profit margins.
Pay particular attention to fee discounts available for the native tokens issued by each exchange – sometimes these discounts can be quite generous.
Bitcoin and Ethereum can be found on every exchange. However, the competition between Yobit and Binance happens on altcoins territory. One company will actively push obscure coins for speculative gains, the other will focus on regulatory compliance and thorough listings process. This will result in two opposite approaches: a larger but riskier catalog of coins against a safer and stricter set of coins.
Liquidity is a crucial metric for both traders and investors alike. Lack of liquidity will cost you slippage – no need to pay additional fees if the market conditions won't allow you to execute your trades profitably. Luckily for both platforms, the most common trade sizes in standard retail instruments see enough trading volume and narrow spreads.
There is no place for anonymous trading anymore. Both exchanges require KYC verification, which will unlock the possibility of withdrawing larger amounts and using various advanced derivatives.
Nevertheless, the real issue here is geography rather than personal data – due to legal licensing requirements, one of the exchanges may be blocked in your region.
No one likes sitting on a passive portfolio. Nowadays, every cryptocurrency exchange serves as a bank. Various savings programs, staking, and dual investments can provide a significant yield for any portfolio holder. Advertised APY rates vary depending on market demand but check if you will lose money on withdrawal from locked coins if necessary.
| Has options trading |
|---|
Yes |
| Has spot trading |
|---|
Yes |
| Payouts |
|---|
Crypto, bank transfer |
| Security |
|---|
2fa, cold storage, safu fund |
| Total trades spot |
|---|
93,582,027,416 |
| Verification |
|---|
Optional |
No | No |
| Has futures trading | |
|---|---|
No | Yes |
| Has options trading | |
|---|---|
No | Yes |
| Has spot trading | |
|---|---|
Yes | Yes |
| Payouts | |
|---|---|
Crypto | Crypto, bank transfer |
| Security | |
|---|---|
2fa, ssl encryption | 2fa, cold storage, safu fund |
| Total trades spot | |
|---|---|
71,208,387 | 93,582,027,416 |
| Verification | |
|---|---|
Kyc varies | Optional |
Live Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentLive Market SentimentIn modern times, reputation is everything in crypto. When choosing between two options for your investment portfolio, pay close attention to the security track record. Do they publish regular proof of reserves? Do they keep most of the user funds in offline cold storage? If an exchange managed to overcome some kind of hack or incident before and compensate users – it's usually the better option.
It's difficult to find a truly universal "one fits all" approach to exchanges. In case of Yobit vs Binance comparison, the winning choice is quite clear – you should use whichever exchange offers more obscure altcoins you wish to trade. Or maybe you're getting discounted fees for your trading tier at Binance? In any case, run the calculations yourself and choose the winner.
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