Monday, August 15, 2022

How To Purchase Bitcoin In Iran

Why Should I Buy Bitcoin Instead Of Mining

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A long time ago anyone could mine bitcoins on their computer at home. Today, only specialized computer hardware is powerful enough to do this.

Think about it like this:

Should you buy gold or mine gold? Well, to mine gold you need big powerful machines, a lot of time, and money to buy the machinery. This is why most people just purchase gold online or from a broker.

So Bitcoin is no different.

You should just buy some if you want coins without trying to mine.

How To Buy Bitcoin At Cexio: A Step

If youve ever made an attempt to buy digital assets, you probably know that sometimes it can become a really tiresome procedure. The network charges higher and higher fees and also you need to wait for the transaction to be approved. So, you might be thinking – is there a way to simply and not worry about private and public keys, wallet addresses, and all that? The answer is yes, there is a way! Just use a service by CEX.IO made specifically for those who want to buy or in no time.

So heres what you need to do.

Go to the CEX.IO website and log into your account. At the top left corner, you will see a link to the page called Buy/Sell. Click on it and go to this page.

Next, you will see a number of options for buying crypto instantly with the help of Visa or Mastercard. You can choose a credit card in any currency. When you buy Bitcoin, the amount paid in fiat will lickelly automatically convert and charge the dollar equivalent which is displayed in the boxes below. You can buy it instantly in the amount of $200, $500, $1,000, or any other that you can enter in the box called Your Amount. In the same way, you can .

If you havent connected any credit or debit card just yet, the system will ask you to provide the card details as on the screenshot below. Just enter the data and safely proceed to the next stage.

After youve done that, Bitcoin appears in your CEX.IO wallet within a few moments. Now youre a hodler of some real BTC!

Why Do I Need To Verify My Identity To Purchase Bitcoin

When you buy bitcoin with a government-issued currency through an exchange service, you’re interacting with a regulated business. Such businesses must comply with Know Your Customer and Anti-Money Laundering regulations pertaining to the transfer of money. These regulations require the collection and storage of customer information, including identity documents and sometimes proof of address.

Recommended Reading: How To Buy Gift Cards With Bitcoin

Trading Cryptocurrencies Using Escrow Peer To Peer Trading Sites Like

· Trading directly with Iranian Citizens

· Paying via conventional Iranian money transfer methods

· Not requiring registration or KYC identifications

· Small number of Iranian traders on these websites

· Limited Supply

Low Risk:

The anti-scam Escrow system in these websites guarantees trading assurance

Keep Your Bitcoin Secure

How To Buy Bitcoin In Iran

Now that youve purchased bitcoin, it is important to keep it safe and secure just as you would with a bank account. Here are some basic principles to follow:

  • Create backups of your private keys. To protect robbery, fire, or hard drive failure, we recommend to keep a backup of your private keys kept off-site.
  • Never give your private keys to anyone. Giving another person your private keys is the same as giving them access to your bank account.
  • Mobile and Desktop Wallets: Keep your offline and online wallets up to date with the latest software. This will ensure they are as secure as possible.
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    Limits: Are You Buying A Lot Of Coins

    If you need to buy a large amount of bitcoins–say 25 or more–then big brokers or major exchanges are the way to go.

    Coinbase has high limits for buying with a bank account.

    Most cash exchanges have no buying limits. Limits, however, will vary between individual sellers and are usually lower than online exchanges.

    What Is The Cheapest Way To Buy Bitcoin

    The cheapest way to buy Bitcoin is to buy it from someone at the current exchange rate. This will let you avoid transaction fees. If you cant find this as a method then find a large exchange with small transaction fees.

    We areCryptomaniaks!

    Collectively, we have over 25 years of experience in the crypto world and are all passionate about guiding people through the complex world of crypto investing.

    Also Check: How To Remove Crypto Mining Malware

    Buying Bitcoin From The Bitcoincom Website

    You can buy bitcoin from the Bitcoin.com website using your credit/debit card or other payment method . When you buy bitcoin from our website, you’ll need to decide where to receive it. This means you’ll need to input a Bitcoin ‘address’ when prompted.

    For example, a Bitcoin address looks something like this:

    3J57t1XpEZ73CZmQvfksriyiWrnqLhGTLy

  • Visit our Buy Bitcoin page.
  • Select Bitcoin . Note: you can also purchase a range of other digital assets.
  • Choose whether you want to pay in USD or another local currency, and enter the currency amount .
  • Enter your wallet address.Here’s where you’ll decide where the bitcoin you’re buying goes. For example, you can send bitcoin straight to your Bitcoin.com Wallet. To do so, you just need to know your Bitcoin address. To get the right address:

  • Open the app
  • Tap the receive icon
  • Select Bitcoin and choose the Bitcoin wallet you want to receive it to
  • Tap the copy button to save the address to your clipboard. You’ll need to paste that address into the Bitcoin.com Buy website. If you’re accessing the website from your desktop or laptop, you can, for example, email the address to yourself then paste it in the wallet address field on our site.
  • Complete the purchase process by creating an account and providing your payment details.
  • How To Cash Out Btc In Iran

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    Unfortunately, due to the current economic situation in Iran, it is not possible to cash out BTC directly. However, there are a few workarounds that can be used in order to convert BTC into Iranian Rial .

    One option is to use a peer-to-peer exchange like LocalBitcoins.com. There, you can find people who are willing to trade BTC for IRR. Another option is to use a digital currency exchange that supports Iranian Rial, such as CEX.IO.

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    Trading Via Global Online Cryptocurrency Exchanges

    · Trading via the worlds biggest and most reliable exchanges

    · Buying & selling at actual Dollar price

    · Most cryptocurrencies are always available

    · Getting and using Visa/MasterCard is only possible through middlemen and still imposes many risks

    · Using PayPal is very risky for Iranians

    · verified accounts in exchanges are very hard to obtain for Iranians

    · some American exchanges such as bittrex completely block Iranian accounts without prior notice

    Risks of getting blocked from accessing PayPal/Visa/MasterCard

    Risk of getting blocked by using unverified Exchange Accounts

    Iranians Said To Transfer $180 Million In Crypto Daily

    Despite the lack of proper rules for most of the crypto space and the government stance on the matter, a growing number of Iranians have been investing in decentralized digital money over the past months and years. An estimated seven to 12 million Iranians own cryptocurrencies, according to Hamed Mirzaei, CEO of Bitestan, one of the countrys crypto exchanges.

    Iranians daily crypto transactions is estimated between 30 and 50 trillion rials , while there is no regulation over trade in cryptocurrencies, Mirzaei was recently quoted as saying by Peyvast magazine. According to a report by the English-language business portal Financial Tribune, the executive also pointed out:

    More than 88% of the deals are conducted via local exchange platforms.

    This amount, Mirzaei elaborated, is higher than the total of all capital market transactions in the Islamic Republic. An estimated seven to 12 million Iranians own cryptocurrencies, the blockchain entrepreneur also revealed to Iranian media.

    Mirzaeis comments come after earlier this year Iranian officials voiced concerns over crypto assets attracting capital from traditional markets. In early May, digital coin trading platforms were accused of taking advantage of the volatile state of the stock market, where deals had seen a significant decline since last summer. At the time, the Central Bank of Iran advised Iranians to avoid cryptocurrency, warning them that these investments would be at their own risk.

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    Buying And Selling Directly And Peer

    This method is purely peer-to-peer and there is no middleman or even escrow service in between.

    In this method, traders usually find each other in group chats and negotiate terms of trade. Sometimes, if possible, they arrange meetings in real world to get acquainted and know each other better before doing any trade.

    Image Source: http://www.tradeready.ca

    Payments in this method can be done in any conventional method, accepted in Iran. Such as debit cards, bank transfers, cash or even bank cheques.

    Why Would Someone Even Want To Buy Bitcoins

    Can I Buy Bitcoin In Iran

    There are many reasons people want to own bitcoins.

    Many people like to purchase some and put them to the side in the hopes that they will be worth more in the future.

    Many people are using bitcoins to remit money to their families from out of the country. Right now, Bitcoin is one of the cheapest ways to do this.

    People also use Bitcoin to buy stuff online. Big companies like Microsoft, Dell, Newegg and Overstock all accept bitcoins.

    Bitcoin is also very unique compared to other markets in that it trades 24 hours a day and never stops. Most stock markets only open on weekdays from 9 AM to 5 PM. So many traders buy and sell bitcoins because it is a fun and fast market to trade.

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    Buying And Selling Bitcoin And Ethereum Via Escrow Websites Such As Com Localethereumcom

    Image Source: LocalBitcoins

    Buying and selling bitcoin through escrow websites like Localbitcoins.com is one of the most popular and secure ways to trade bitcoins in a semi peer-to-peer fashion.

    Websites like Localbitcoins.com and Localethereum.com let you filter through their list of buyers and sellers based on country, location, payment methods and currency of choice . Once you find the desired seller, you could start an open trade with them and set your terms in the chat. Then they are obliged to deposit the bitcoins in the website escrow. from there you can pay the money in any conventional way agreed upon by both party and then receive your bitcoins.

    Image Source: LocalBitcoins

    The desired payment method for most of the trades between Iranian is bank transfer via debit cards. Despite the fact that these kind of payments are the easiest form of payment in Iran, there arent so many Iranian traders in these websites. The only reason which comes to mind is that most Iranians havent even heard of such websites. Most of them use telegram groups to start peer-to-peer trades

    Traditional Controls Dont Work

    Each time authorities try to control or disparage the crypto industry, private-sector actors warn of the potential downsides.

    This time is no exception.

    Amir Hossein Mardani, CEO of BitPin, an Iranian online crypto exchange, told Al Jazeera that the recent orders by the Central Bank and the countrys payment settlement network could hamper competition.

    Firstly, it was an attempt by a number of monopoly seekers in the market to direct the regulators to monopolise the market. Secondly, it was aimed at directing the media to strip Irans active exchanges of public trust, he said.

    Our users behaviour shows us that there is strong demand for bitcoin and other cryptocurrencies and users will ultimately conduct their transactions, so this hype is temporary, he said.

    The nature of the crypto market and the technology behind it is to create financial decentralisation, he said. I think governments, including Irans government, must accept that traditional controls dont work on these markets.

    Ali Amiri, chief financial and operational officer at ZarinPal, shares those concerns.

    Forcing activities underground, making the brilliant minds in this field move out of the country, and driving capital from local markets to international ones are some of the short- and medium-term consequences of this decision, he told Al Jazeera, adding that it also risks undermining Irans future competitiveness in burgeoning blockchain and crypto technologies.

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    Speed: When Do You Need Access To Your Bitcoins

    How quickly do you need to convert regular money into bitcoins? Different payment methods deliver your coins at different speeds.

    Your first Bitcoin purchase may be time consuming. Once you get everything setup all subsequent purchases will be much faster!

    Bitcoin ATMs can be the fastest way to purchase bitcoin if youre lucky enough to have one in your area. Here’s a map to help you out.

    Some brokers offer instant buys with bank transfer, credit card, or debit card.

    Introduction To The Crypto World

    12/01/22| Crypto news today | Shiba inu coin news today | Cryptocurrency | Bitcoin news today | BTC

    People mix up Bitcoin with Cryptocurrencies, Blockchain, Exchanges , Wallets and others. Some basic knowledge is mandatory before you get started.

    • There are thousands of cryptocurrencies. But all cryptocurrencies are not Bitcoin. Bitcoin is the first and most important cryptocurrency.

    • You dont have to buy 1 whole Bitcoin. Bitcoin is divisible. Its even more divisible than the dollar. $1 can be divided to 2 decimal points: $1.00 — while Bitcoin can be divided into 8: 1.0000000 This means you could own 0.00000001 BTC .

    • Bitcoin is built on Blockchain Technology. If Bitcoin was a car, imagine Blockchain as the roads that allow Bitcoin to travel from one user to another.

    • Exchanges, like eToro and Coinbase, are independent websites that allow you to exchange fiat money for cryptocurrencies.

    • Wallets, like Blockchain.com, are software that facilitates access to the blockchain. They are used to transfer and store Bitcoin and other cryptocurrencies securely.

    You will discover more about the cryptocurrency world and jargon as you learn the best way to buy Bitcoin. First, you need to answer the following question: where can I buy Bitcoin, and how do I buy Bitcoin?

    Soon, youll realize that the best places to buy Bitcoin depend on where you live, as well as your expectations.

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    Buy Bitcoin In Iran Through P2p Platform Localbitcoins

    The most popular P2P platform is LocalBitcoins. It serves as a local billboard for everyone who wants to buy and sell Bitcoin. When you register on the platform, you post an ad or search for local people/organizations that want to buy or sell Bitcoin through your preferred methods and at your preferred price. When you find a suitable buyer/seller, you agree to the terms of the transaction . Note that not every seller is trustworthy, so be sure to check their history and reviews first.

    Source: LocalBitcoins

    You can find the place to buy Bitcoin in Iran on LocalBitcoins here.

    Requirements To Buy Cryptocurrency In Iraq

    Before purchasing, there are a couple of important things you’ll need to prepare:

    • A passport, national identity card, or drivers to complete the KYC process.
    • A private and secure internet connection, public WiFi is not recommended as it may pose security problems.
    • A mobile phone to verify your identity using two-factor authentication .
    • A bank account or credit card you can use to make fiat currency deposits to purchase cryptocurrencies.
    • A crypto wallet to store your assets. Almost all exchanges will offer built-in wallets, but it is important to withdraw your crypto to your own personal cold wallet for optimal security.

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    How To Buy Btc

    Weve prepared a short and simple guide on how to buy Bitcoin in Iran on Changelly.

    • Enter the amount of Bitcoin you wish to purchase.

    • Select Iran of as your country of residence, then pick your payment method. You will be shown a list of Changellys partners. All of them offer competitive rates choose the one you like the most.

    • Fill in your BTC wallet address.

    • Double- and triple-check everything.

    • Pass the verification process on the fiat providers website.

    Note! Your Bitcoin will be in your wallet between a few minutes and a few hours. We do our best to deliver your BTC to you as quickly as possible, but there sometimes can be delays due to one of the following factors:

    • Overloaded blockchain

    Thats it your BTC should be in your wallet shortly!

    Completely Peer To Peer Trading

    How To Buy Bitcoin In Iran Now

    · Finding buyers and sellers everywhere

    · payments in every conventional form of payment such as cash, cheque or even trading with real assets like Gold

    · Possibility of arranging a face to face meeting in real world

    · No need to register any national ID, certificate or any Document

    · Could be totally anonymous

    · No third party service or middlemen helping the process of trade

    · Challenge in finding trusted buyer and seller

    · Difficulties in gaining trust

    There is no way you can trust the other party.

    only trade with reputable people or someone you know.

    Table 1

    Before explaining these five trading methods in details, lets point out the main difference between Iranian & global cryptocurrency exchanges.

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    Finding The Right Site For Your Needs

    There are plenty of exchanges and ways to buy Bitcoin in 2021. Do you know how to choose the best exchanges to buy bitcoin? Some are better than others, and each of them has different characteristics.

    Before I reveal how to invest in Bitcoin based on your needs, you first need to know what YOU want and how to buy bitcoins.

    Heres what you should take into account:

    1. Anonymity

    Exchanges, especially the large ones, are required by law to only accept users who comply with KYC and AML requirements. Such legal requirements are useful to prevent money laundering and funds being used to finance terrorism. This means that though one exchange may be one of the best ways to buy bitcoin, you do need to provide and verify your identity to do so.

    2. Fees

    Different exchanges charge different fees. Goes without saying. If youre looking for the cheapest way to buy bitcoin vs. the fastest way to buy bitcoin — then fees will come into effect.

    3. Ease of use

    Some exchanges are simpler to use. The ease of verifying your identity, the user interface, the customer service all play a role in what exchange you will prefer.

    4. Payment methods

    Did you know you can buy Bitcoin with a credit or debit card? Then theres the standard methods: bank account transfer, cash, and more.

    5. Regulatory compliance

    Making sure your exchange complies with regulations is a smart idea. If the exchange is asking for KYC and AML checks, you can rest assured youre on the right path.

    6. Security

    7. Limits

    9. Speed

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