A major Iranian cryptocurrency exchange platform, Nobitex, has published a detailed report on its performance in 2021, claiming that it recorded 728% growth in the number of users.
The exchange reportedly has 70% share in the domestic crypto exchange market with almost 3.2 million users.
It has been established as per the highest standards of security and tested by third party security labs and is planning to expand to neighboring countries.
As per the report, Dogecoin was the most popular cryptocurrency of Iranians in 2021, accounting for 17% of the exchange users' portfolio. Dogecoin also was the most traded coin on Nobitex. Bitcoin and Ethereum ranked after with 14% share in the platform user portfolio.
Cardano and Shiba were the other favorites.
Nobitex report also showed that female users only account for 16% of the platform users while Ethereum was female investors' most favorite crypto asset in 2021.
Nearly 44% of the crypto traders were between 31 to 40 years old. Users aged 41 to 50 came after with 19% share.
The report also reflected on the geographical location of traders saying 26% of them were Tehran residents followed by Khorasan Razavi and East Azarbaijan provinces at 9.6% and 7%, respectively.
Established in 2017, Nobitex is a leading fintech company specializing in blockchain and cryptocurrency solutions. The platform allows users to trade cryptos using the rial.
Recently, CEO of Bitestan, another domestic exchange, claimed that more than 88% of the deals are conducted via local exchange platforms. "Iranians daily crypto transactions is estimated between 30 and 50 trillion rials ($181 million), while there is no regulation over trade in cryptocurrencies."
Mining virtual currency is legal in Iran and miners are allowed to operate under rules approved by the government. However, trade in crypto is banned even though later the central bank said banks and licensed moneychangers can use digital currency mined by authorized miners in Iran to pay for imports.
In March and following stringent anti-money laundering measures, the CBI ordered Shaparak, the local payment settlement network, to block online payment gateways owned by crypto exchange websites.
In May 60,000 people involved in the crypto business sent a petition to the former president Hassan Rouhani urging him to stop restrictions on crypto exchanges. Soon after media outlets published a letter from the former president's office, in which the CBI was asked not to block cryptocurrency exchanges.
Last week, Mohammadreza Pourebrahimi, a lawmaker assured the public that the issue of cryptocurrencies would be regulated in the near future. President Ebrahim Raisi s government has also started work on this issue.
"There are several methods under consideration for settling issues related to crypto exchanges. We have set tasks for relevant state organizations and ministries, namely the central bank and the ICT Ministry,"
