Move2earn is a game genre that allows players to earn cryptocurrency or tokens while exercising. Since not everyone likes to exercise, Move2earn games inspire people to adopt a healthy lifestyle. 2022 saw the launch of many Move2Earn projects, which attracted a lot of attention from the cryptocurrency industry. The data concludes that the prices of virtual sneakers are increasing every month, and various Move2Earn projects have also seen significant growth. One of the more recent exchanges to jump on this trend is YoBit, which has launched its own virtual sneaker project called YoStep.
About YoBit Exchange
The essence and benefits of YoStep
YoStep is a newly introduced platform for virtual sneakers on YoBit. If a user purchases it, they are rewarded with YOSTEP tokens daily. Users need to perform a few simple daily actions on the exchange to get rewards. This includes playing the YOSTEP dice game daily for at least 10 times.
Currently, YoStep requires no running, walking, or performance of any kind. It only allows you to buy sneakers and repair them using the YO token. Currently, YoStep can be described as a true “stay to earn” model that provides passive income. One of the biggest advantages of the YoStep virtual platform is that it has a low entry threshold. The project is accessible to beginners because the minimum cost of the sneakers is only 10 USDT.
Some of YoStep’s rules include the following.
- Users will receive sneaker rewards twice a day.
- The temporary purchase limit for a user is 20 sneakers. However, the limit extends to 40 sneakers if you are the holder of a Yo token.
- As there are a limited number of sneakers to be won, refills are done in small quantities on an hourly basis from 12 p.m. to 10 p.m.
- Funds from sneaker purchases go to the buy fund which is used for referrals and buying YO tokens (80% + 10% + 10%).
- 20% of the funds in the purchase fund are spent on the YoStep/USDT DeFi pool immediately after purchase and 2% of the funds are allocated for 30 days in the YoStep/USDT daily fund.
- Users must play the dice game at least 10 times to get successful payouts.
- Sneakers may require repairs once a month, for which YO Tokens can be used at 5% of the cost.
- For owners who have referrals, they receive 10% of the cost of the sneakers.
- Users can upgrade their sneakers with YOSTEP, which is currently unavailable.
For users to start using YoStepthey must first register on the YoBit.net Platform. To register, one needs to go to the official website of the exchange where the registration tab appears in the upper right corner.
Step 1: After clicking on “Registration”, the field of the questionnaire where the user will be asked to enter some personal information. Users need to fill in simple information such as a unique ID, email address and password and agree to the terms and conditions.
Step 2: After confirming the information, the user receives a link to their registered email address.
Following the link will redirect users to the official site, after which a confirmation email will be sent along with a recommendation to enable 2-FA authorization.
Step 3: Users need to set up 2FA authentication by downloading Google Authenticator. Once the utility is installed and the QR code scanned, it can be used with Yobit.net.
How to deposit funds on YoBit?
Before trading on the exchange, users must replenish their portfolio by depositing funds. By clicking on the “sales” tab, a page will appear with special addresses corresponding to each piece, each with its own address. YoBit allows deposits in USD, USDT, BTC and a selection of other cryptocurrencies.
Step 1: For example, if the user chooses USD to fund their account, the first thing to do is to find the coin in the address list. One can enter the coin ticket to quickly retrieve the USD dollar from the list of available currencies as shown below.
Step 2: When the requested currency has been found, users need to click on the “Enter” menu. A form will appear asking the user to select the funding method. Once the user determines the amount and confirms the entry, the coins will be automatically credited to the wallet balance.
YoBit’s YoStep interface is designed to be as user-friendly as possible. Visiting https://yobit.biz/en/yostep/ you will be presented with the screen below.
- As seen above, users can easily check how many YoStep tokens they have earned. YoStep tokens can be earned by taking steps (eventually).
- Users will use the available sneakers corresponding to a particular level – from level 1 to level 10. Users must buy higher level sneakers if they hope to increase their daily income.
- The sneakers are divided into tiers. As seen above, the first pair of sneakers (level 1) costs 10 USDT and offers a return of only $0.11 per day. Comparatively, Level 10 sneakers cost 50,000 USDT and offer a daily return of $817.42. The higher the speaker level, the better a user’s return on investment,
How to play Yobit Dice game?
The Yobit Dice game is a simple dice game that allows users to bet on a higher or lower number as they are generated. There are two options to start playing – Roll 52.
- For example, if the user rolls 39 and has chosen Roll52, the user will win again.
- The minimum bid is any amount in BTC, even 0.001 BTC.
- The maximum number of dice sets allowed for a user per day is 200.
It is common knowledge in the cryptocurrency world that crypto exchanges tend to attract and retain users with lucrative actions to make money on them in the long run. They take advantage of the fact that an active crypto user normally trades steadily for several years. This trend has been seen in the past in crypto exchanges such as Binance, which has given users billions of dollars through highly profitable launchpads.
Many in the crypto community have wondered how YoBit is able to deliver such high ROI through YoStep. To find out how, we need to dive into how the YoStep project economy works.
- YoStep withdraws part of the tokens via the dice game. The project also allocates 80% of the sneaker’s value to liquidity pools, which are used to buy back and back market assets.
- YoBit maintains a reserve fund, which is similar to StepN’s treasury. The reserve fund is used to support the payment of additional rewards sent to all YoStep participants. Because of this business model, YoBit’s virtual sneaker economy is expected to be sustainable in the long run.
Through the YoStep project, YoBit aims to attract more traders to the exchange. It does this by spending its own funds on rewards for active users, which will help them stay on the exchange longer and encourage them to participate in trading, farming, and other new events.
Similar to Binance Launch Pads, YoBit also pays out the high returns of YoStep sneakers to users who are attracted to them due to their high ROI. YoBit hopes this strategy will help users get attached to the platform and use it for years to come.
YoBit offers a huge selection of over 500 cryptocurrencies and 8,750 cryptocurrency pairs, with several new projects being added frequently. YoBit also offers some important features, such as YoPony games, YoBit DeFi, Dice and RoboTrade. They also frequently organize different airdrops, IEOs, staking programs and giveaways for users to earn money. It offers a no-frills, no-spill approach with a large cryptocurrency offering and a global customer base, so both novice and experienced traders find what they are looking for.
The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.