Important[ points] for choosing a {cryptocurrency} exchange

Important points for choosing a cryptocurrency exchange

One of the main things in learning and teaching digital currency is knowing the currency exchange based on the currency code and using its capabilities. Digital Currency Exchange is an online platform for storing and exchanging digital currency.

The exchange acts as an intermediary between buyers and sellers of digital currencies and receives commissions by conducting transactions from traders; So you can buy, sell and convert your digital currencies in this digital marketplace.

In this article, we will discuss some golden tips when choosing a digital currency exchange, which are as follows:

Exchange commission amount:

When choosing a suitable exchange, pay attention to the amount of commission that the exchange receives during transactions. In some exchanges, the costs are zero for transactions in the currency code to the currency code, but in transactions related to the conversion of the currency code to Fiat and vice versa, the commission is received.

External exchange without the need for a VPN:

If you want to operate in foreign exchanges, "Hot Bit" exchange is a good option. Because there is no need to go through the authentication process. You can register via mobile number and email. In addition, you do not need a "VPN" when operating in this exchange. This is one of the brightest options for investors living in Iran.

Minimum transaction amount:

In order to buy and sell digital currency in exchange offices, a minimum trading amount has been set, based on which you can buy and sell. The minimum transaction amount is very high in some exchanges; Therefore, it is necessary to pay attention to this point when choosing an exchange office

Identify the active group in the exchange:

The names of the main beads are specified in reputable exchanges and you can search for their records; Therefore, do not subscribe to exchanges whose active members are not known in the support group.

Disadvantages of operating in foreign exchange offices

Due to the embargo, it is not possible for users living in Iran to perform authentication steps. In these steps, it is necessary to enter the address of the place of residence, the photo of the identification documents and.

To register and operate in foreign exchange offices, you need to enter the site via VPN and change your IP address. It is necessary to enter the site in the next visits to the exchange with the same initial IP when registering.

If the VPN is disconnected and the IP is changed during any of the transaction and order registration steps, the exchange office will block your account and your assets will be blocked.

Benefits of working in foreign exchange offices

In most quality and reputable exchanges, it is possible to use the Stop Loss feature. With this feature, you can protect your trades from any losses. In this way, you determine your loss limit before starting trading.

In some exchanges it is possible to insure assets. This means that in case of hackers attacking the exchange site, your assets will be returned through insurance.

 
Benefits of working in an Iranian exchange

Ability to buy currency code in Rials
Direct deposit and withdrawal from Rial bank account
Persian language site
Access to global markets
24-hour support all days of the week
Ability to perform authentication steps
Deposit and withdrawal at high levels
Ability to follow up and complain

Digital currency exchanges will be assigned by the end of April

Digital currency exchanges will be assigned by the end of April

By the end of this month, the necessary instructions for digital currency exchanges in free and special economic zones will be announced. During the meeting of the Secretary of the Supreme Council of Free and Special Economic Zones with the Governor of the Central Bank, it was decided to issue the necessary instructions for issuing licenses for the establishment of digital exchange offices in the regions by the end of April, after finalizing and approving the bylaws. Also, regarding the allocation and provision of foreign exchange for the activities of production units and traders, in this meeting it was decided that the necessary coordination be done between the Secretariat of the Supreme Council of Free and Special Economic Zones and the Ministry of Industry, Mines and Trade. Notify this ministry.

Coordination to provide the necessary guarantees for the use of foreign funds was another issue raised at the meeting. Also, the amendment of the decision to establish an offshore bank in order to encourage domestic and foreign investors to establish these banks and to issue a license to establish a digital exchange or Ramzarz exchange in free zones were other issues that were raised at the meeting. Special conditions should be considered for free zones through the Central Bank in order to establish an offshore bank.

The increase in the price of bitcoins and cryptocurrencies in recent months in Iran has also attracted a lot of attention; Last year, the extraction of cryptocurrencies was considered an industrial activity in the country, but their exchange was banned.

In the last days of last year, it was announced that the exchange of cryptocurrencies is unrestricted only for the official extraction of cryptocurrencies for import, but trading in this type of currency between individuals is prohibited. Central bank officials also stressed the ban on cryptocurrency transactions between individuals under the Supreme Council for Combating Money Laundering and a cabinet decision in 1998, in which Shaparak announced to its payers that it would block electronic portals provided by unauthorized businesses, including cryptocurrencies. They will be.