How to Buy Cryptocurrency in Iran
Buying cryptocurrency in Iran
All Iranian financial institutions were banned from handling cryptocurrencies because of an official decision made by the Central Bank of Iran (CBI) in 2018. It also banned currency exchanges from purchasing or selling virtual currency and adopting means to promote them. This move was in agreement with Iran’s attempts to recognize flaws in its anti-money laundering polices and to combat terrorism financing, in order to comply with the action plan of the Financial Action Force on Money Laundering (FATF). Prior to the Bank’s decision to place the ban, the CBI’s Information Technology Chief revealed that CBI was considering the option of adopting a national virtual currency along with the adoption of an established cryptocurrency framework. The decision was a let-down for those people who looked at virtual currencies as a solution for all banking-industry-related problems, and for those who consider them as an instrument that’s reshaping the future of banking.
As of 20/03/2021
These exchanges all accept customers from Iran. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Founded in 2017, KuCoin has already managed to establish itself as â€śThe Peopleâ€™s Exchange.â€ť With 200+ cryptocurrencies and more than 400 markets, it has become one of the hubs for cryptocurrency trading.
- Vast selection of altcoins
- Ability to stake & earn crypto yields
- Robust security features
- No forced KYC checks
- No fiat currency deposits
- Trading volume is low
Changelly allows you to trade cryptocurrency without registration or verifying the identity through KYC. Being a non-custodial exchange, Changelly doesnâ€™t require you to keep any deposits. The platform also works as a fiat-to-crypto gateway.
- Non-custodial exchange
- Great way to switch altcoins
- Doesnâ€™t require extensive KYC
- 2FA security and high exchange limit
- A high transaction fee of 0.5%
- Unclear owners
- Sometimes their service is quite slow
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options