Is YoBit exchange legal? Graphic tutorial for buying coins for newbies on YoBit exchange app

The legality of YoBit exchange is controversial for the following reasons: it is not licensed or regulated, allows anonymous trading, and has historical issues. Nonetheless, it continues to operate in some countries, including Russia, Ukraine, and Kazakhstan. The steps for a newbie to buy cryptocurrency include: registering an account, verifying email, depositing funds, buying cryptocurrency, and transferring cryptocurrency.

Is YoBit exchange legal?

Answer:

The legality of YoBit exchange is controversial. Although it operates in some countries, it is not licensed or regulated in any major jurisdiction.

Details:

Legality Disputes:

• Unregulated: YoBit is not licensed or regulated in any major jurisdiction. This suggests it is not subject to oversight by government regulators.
• Anonymity: YoBit allows users to trade anonymously, which increases the risk of money laundering and illegal activities.
• Historical Issues: YoBit has been accused of market manipulation and theft of user funds in the past.

Operating in certain countries:

Despite legality issues, YoBit continues to operate in certain countries, such as:

• Russia
• Ukraine
• Belarus
• Kazakhstan

Picture and text tutorial for buying coins for newbies:

Note: Before using YoBit, please be sure to carefully consider its legality disputes.

Step 1: Register an account

Go to the YoBit website and click the "Register" button. Complete the registration form providing your email address, password and username.

Step 2: Verify your email

You will receive an email containing a verification link. Click this link to verify your email address.

Step 3: Deposit Funds

Log in to your YoBit account and click on the "Deposit" tab. Select the deposit method you want to use and follow the instructions.

Step 4: Buy Cryptocurrency

After your deposit is successful, you can use your funds to purchase cryptocurrencies. Click on the "Market" tab and select the cryptocurrency you want to purchase. Enter the amount and click the "Buy" button.

Step 5: Transfer Cryptocurrency

If you wish to transfer cryptocurrencies out of YoBit, click on the Withdraw tab. Select the cryptocurrency you want to withdraw, enter the withdrawal address and amount, and click the "Withdraw" button.

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