Company Overview
| Aspect | Details |
|---|---|
| Company Name | YIBIFU |
| Registration | Singapore |
| Operational Duration | 1-2 years |
| Regulatory Status | Unregulated |
| Cryptocurrencies | 133 available |
| Trading Fees | Taker: 0.1%, Maker: -0.05% |
| Payment Methods | Bank cards, WeChat Pay, Alipay |
| Support Channels | Twitter, Facebook |
Platform Summary
YIBIFU is a Singapore-based cryptocurrency exchange operating without regulatory oversight. The platform supports 133 digital assets including Ethereum, Tether, and Binance Coin, with daily trading volumes ranging from 100 million to 500,000 coins. While offering competitive maker fees (-0.05%), users should note the 0.1% taker fee and lack of transparent security protocols.
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Pros and Cons
Advantages:
- Negative maker fees (-0.05%)
- Diverse crypto selection (133 assets)
- Fiat currency support
- Anonymous trading options
- Multiple order types available
Disadvantages:
- Higher taker fees (0.1%)
- Limited brand recognition
- No regulatory compliance
- Potential deposit fees for credit cards
- Reported customer support delays
Security Assessment
Though YIBIFU claims to implement protective technologies for wallet management, the absence of publicly verifiable security measures raises concerns. The platform warns about impersonation scams targeting users. Always:
- Verify communications through official apps
- Never share account credentials
- Enable two-factor authentication
Available Cryptocurrencies
YIBIFU's 133-asset portfolio includes:
- Bitcoin (BTC) - $42,000
- Ethereum (ETH) - $2,800
- Tether (USDT) - $1.00
- Binance Coin (BNB) - $600
- Cardano (ADA) - $0.45
Daily trading volumes range from 500,000 to 100 million coins across different assets.
Account Registration Process
While YIBIFU doesn't disclose specific steps, standard crypto exchange registration typically involves:
- Visiting the official website
- Creating login credentials
- Email verification
- KYC completion (ID submission)
- Security setup (2FA activation)
- Fund deposition
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Fee Structure
| Trading Volume (USDT) | Taker Fee | Maker Fee |
|---|---|---|
| <10,000 | 0.10% | -0.05% |
| 10,000-100,000 | 0.08% | -0.03% |
| 100,000-1,000,000 | 0.06% | -0.02% |
| >1,000,000 | 0.04% | -0.01% |
Additional Fees:
- Crypto deposits: Fixed 10 USDT
- BTC withdrawals: 0.0005 BTC
- ETH withdrawals: 0.008 ETH
Payment Options
| Method | Deposit | Withdrawal | Processing Speed |
|---|---|---|---|
| Bank Cards | Yes | Yes | Slow |
| WeChat Pay | Yes | Yes | Fast |
| Alipay | Yes | Yes | Fast |
Competitive Analysis
| Feature | YIBIFU | Binance | Coinbase | Kraken |
|---|---|---|---|---|
| Crypto Assets | 133 | 500+ | 100+ | 50+ |
| Taker Fee | 0.10% | 0.10% | 0.50% | 0.26% |
| Maker Fee | -0.05% | -0.04% | 0.40% | 0.16% |
| Minimum Deposit | $10 | $10 | $25 | $0 |
Target Audience Suitability
For Beginners:
The platform's simple interface suits new traders, but the lack of transparency warrants caution. Start with small investments.
For Experienced Traders:
Seasoned investors may prefer regulated exchanges with comprehensive market data and advanced tools.
For Global Users:
While accessible worldwide, the unregulated status creates jurisdictional uncertainties for international traders.
Frequently Asked Questions
Q: Is YIBIFU regulated?
A: No, it operates without recognized regulatory oversight.
Q: What are the risks of unregulated exchanges?
A: Potential security vulnerabilities, higher fraud risks, and limited dispute resolution mechanisms.
Q: How to verify YIBIFU communications?
A: Always contact support through the official mobile app to confirm authenticity.
Q: What's the minimum account balance?
A: $10 equivalent in crypto or fiat currency.
Q: Are there deposit bonuses?
A: No promotional offers are currently advertised.
Q: How quickly are withdrawals processed?
A: Processing times vary by payment method, with e-wallets typically faster than bank transfers.