Yobit.net Investbox test investments

My quest to test out Yobit.net Investbox detail experience.

I took some of my dogecoin gain from Poloniex lending to test on yobit. By the way, Poloniex so far to me is the most trusted best exchange, I don’t have any big issue or any issue that Poloniex couldn’t resolve on a timely matter. Especially over the years especially when BTC lending was still big, I was making pretty good BTC. Now a day Poloniex lending only have dogecoin lending that can yield highest profit. However Poloniex indicated that they will end lending platform my end of 2018, this I think the result of Circle bought Poloniex and want to be in compliance with federal government irs and so on.

Anyhow, back to Yobit. What I found so far are: many coins listed on Yobit with same name as what showing up on coinmarketcap.com  is not really the same coin. Most coins on Yobit remain on their own platform with their own price, it’s not corresponding to coinmarketcap. For example, MEME on yobit, a lot of people will think it’s the same as MEME on coinmarketcap, surprise! it’s not the same, MEME on yobit is not the same or the real MEME, if you try to withdraw to your MEME wallet, it’s not going to work, you might get maintenance wallet or pending for a long time and if you ask for support to help they will respond to you in about a month or more, but they will respond to you though.

The safest coin that you can withdraw from yobit are, BTC, ETH, DOGE, and WAVES, basically those coins on the left side tabs. I don’t know about USD USDT RUR … I doubt.

My investbox was, I took some dogecoin from Poloniex and deposit to Yobit.net went smooth, then I bought some WAVES RNTB and MEME, guess what? it took forever! literally! well it took days and still didn’t go through so I cancel some of them. Now for Dogecoin, yobit! required 5 dice, when I tried to dice dogecoin there isn’t a selection for dogecoin, only BTC value and the value cannot be change, they have like 0.01BTC and sometime lucky I saw 0.001BTC those are the value I can dice and I don’t think I even have 0.01BTC worth of dogecoin at the time. So it was a bust for me to investbox on yobit.net to get 0.1% daily interest. So I sold dogecoin loss a total of 0.4% worth of fees.

RNTB didn’t work well for me either, again I loss 0.4% when bring it back to Dogecoin. So I loss a total of at least 10% worth of fees and value of the alt coins from moving around. In the end I purchased MEME whatever I have left of my dogecoin and been holding it in yobit.net investbox with a 5% interest rate. I checked daily and I did get the 5% interest rate, but guess what? MEME in yobit.net dropped at least 20% daily, so basically I gained 5% daily but the price of MEME dropped 20% daily. So I think you get the picture on how yobit.net investbox work, it appears to be based on investors invest in it, if no investors you gain 5% but the price of the coin dropped 20%, so who’s winning? you got it yobit.net! it’s not a scam, it’s a matter of understanding how the platform work. It’s based on new investors, if no new investors the gain you gain daily is real, but the price of the coin you invest price dropped 3 times the amount you gained. What you can do is just wait and wait and maybe you will break even if new investors jumped in, if not then your gain basically worth nothing and eventually you end up with nothing. So be careful with yobit.net


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