Nobitex exchange intoruction: The name Nobitex is made from the combination of three words “No” meaning new, “Bitcoin” and “Exchange”. And its purpose is to provide a safe, fast and easy platform for direct buying and selling of digital currencies between buyer and seller. As an intermediary between buyers and sellers, this platform guarantees the security of transactions and collection of exchanged assets.
According to Iran digital economy annotation, after the initial research and measuring the need of the Iranian market for the exchange of digital assets, the core of this digital currency exchange was established in the Tivan Entrepreneurship Club. Gradually and with the addition of people with different specialties, this team became bigger and finally this team succeeded in unveiling the first version of Nobitex market in the winter of 2017.
The values provided by Nobitex exchange, from the point of view of this team, are the following:
– The commitment and expertise of the Nobitex team
– Protection and trust of clients’ assets
– Answering the needs and questions of customers in the best possible way
Nobitex exchange intoruction: Examining the main criteria for choosing an online exchange
We said that in order to choose an online exchange, you should consider some features and criteria you want, such as the amount of fees, the volume of transactions, security, the variety of currencies, the duration of transactions and settlement, support, etc. In this section, we will examine each of the main criteria for identifying a valid and good digital currency exchange in the Nobitex exchange:
The amount of fees and prices in the Nobitex exchange
Currently, the transaction fee in the Nobitex market is calculated as a percentage and based on different steps from 0.35 to 0.2% based on the volume of user transactions in the last thirty days.
Transaction fee in Nobitex is a percentage of the total amount of the transaction and its calculation is based on the following considerations:
– Fees are charged on both sides of the transaction.
– The fee is calculated as a percentage of the amount of requested property. For example, if, as a seller, you want to receive Rials against Bitcoin, the fee will be charged as a percentage of Rials, and vice versa, if you, as a buyer, want to buy Bitcoins with your Rials, the fee will be charged as a percentage of Bitcoins.
– When registering transactions through the Nobitex system, the exact amount of the fee for that transaction will be displayed to you.
– Depending on the volume of the user’s transactions, the transaction fee is calculated according to the following table:
| The volume of transactions in the last 30 days | Transaction fees |
| Less than 200 dollors | 0.35% |
| Between 200 and 1000 dollors | 0.30% |
| Between 1000 and 2000 dollors | 0.25% |
| More than 2000 dollors | 0.20% |
Transactions made in the Nobitex market, regardless of the volume, are calculated with a special fee of 0.13% for the maker and 0.15% for the Taker. The amount of trading fees at the trader level for professional markets is the same as for other user levels, and in Rial markets, it is in accordance with the table below. Transactions made while the trader account is active will not be counted in the total of your last 30 days transactions and your commission level after deactivating this plan.
| Transaction type | Riyal market trading fees at the trader level |
| Maker mode | 0.10% |
| Taker mode | 0.15% |
Rial deposit and withdrawal fees in the Nobitex market
The rial deposit fee is zero.
The fee for withdrawing Rials due to bank fees and the bank portal for settlement is as follows:
| Rial withdrawal amount | withdrawal fee |
| Less than 8 dollors | One percent withdrawal amount |
| 8 to 1000 dollors | 4000 tomans |
| More than 1000 dollors | 4000 tomans for every 1000 dollors |
The duration of Rial settlement of Nobitex exchange with users
According to the Paya settlement cycles in the country according to the notification of the central bank, the Nobitex rial settlement times are as follows:
– Rial withdrawal requests are only processed on working days, and on holidays it is not possible to settle except in special cases due to the fact that the Satna and Paya networks are out of service.
– Requests registered until 12:30, will be processed by Central Bank at 13:45 and will be credited to users’ accounts usually half an hour to one hour late.
– Requests registered after 12:30 PM to 10:00 PM will be credited to users’ accounts on the next working day between 4:00 AM and 7:00 AM.
– Requests registered after 10:00 PM to 9:00 AM will be processed by the Central Bank at 10:45 AM and will usually be credited to users’ accounts with a delay of half an hour to one hour.
The settlement schedule to the Ayandeh bank is as follows:
– Settlement to Ayandeh Bank will be done every one hour on working days from 9:00 AM to 9:00 PM.
– If the request is registered before the 45th minute of each hour, the settlement will be for the same hour, otherwise it will be transferred to the next hour.
– Ayandeh Bank settlement requests between 9:00 p.m. and 10:00 p.m. will be settled at 11:00 p.m.
– Requests registered after 22:00 will be processed in the first cycle of the next day.
– Payments to Ayandeh Bank will be made every three hours on holidays.
Keep in mind that the processing time of Paya Cycle by the Central Bank will be different from the time of depositing into your account, and it is usually deposited into the destination account with a delay of 30 to 45 minutes.
In addition, it may take up to 72 working hours to determine the Rial settlement status. Unforeseen disruptions in sending, blocking of the destination account, return of funds to the source account, etc. are among the time-consuming factors in this process.
Nobitex account and wallet security
To increase the security of the user account and protect the assets, Nobitex has taken good measures and adopted the following processes:
– Data transmission security
Due to the importance of data transferred between users and Nobitex, all data transferred between users and Nobitex servers are protected using encryption protocols. The protocol used for data transfer in Nobitex has a +A security grade from the Qualys.com website test.
To further ensure the security of data exchange, using new features of browsers such as HSTS, all necessary measures have been taken to prevent penetration at the level of the transmission protocol. In addition, by familiarizing with known intrusion methods and implementing necessary precautions, Nobitex users are protected from many attacks, including POODLE, Heartbleed, and WeakDH.
To ensure the efficiency and ease of use of users, by using technologies such as HTTP2 and Session Resumption, it has been ensured that the security measures implemented do not have a negative impact on the efficiency and speed of the system and that users can benefit from the security provided to them without any worries. .
– Protection of digital assets
In Nobitex exchange, all digital assets are kept in “cold storage” (without internet connection). Therefore, even if the servers are hacked, it will not be possible to steal the assets. All these wallets are kept encrypted. Withdrawing from wallets requires the signature and approval of at least two of the three main members of the Nobitex security team
– Servers located in Iran
All Nobitex services, which include users’ information, especially financial information and confidential details of users’ digital assets, are completely hosted on domestic servers. In this way, the risk of users’ assets being blocked or creating other similar problems due to financial sanctions against Iranian residents will be eliminated.
– User account protection
To protect the user accounts created in Nobitex, security principles are embedded at different levels. Some of these are mentioned below:
1. Two-factor authentication process when requesting payment
2. Encrypted storage of all customer information
3. Storing user login information including IP and sending user login email and SMS
4. Limiting the number of logins and other important actions for each user per hour to prevent Brute Force attacks
Authentication process in Nobitex exchange
According to the exchange and also the investigations, the authentication process of Nobitex exchange takes about 2 to 5 days. Due to its easy authentication, this exchange is quite popular among Iranian digital currency exchanges. In fact, users can buy and sell to a limited extent in this online exchange without strict authentication. Please note that for authentication on the Nobitex website, you will need a color scan of your national ID card. After authentication, you enter the second level of the user account. If you want, you can upgrade your account to trader level. The difference between this level and normal levels is that in the trader account, users are not allowed to withdraw cryptocurrency from Nobitex and can only deposit cryptocurrency, deposit Riyal and withdraw Riyal. But by activating this level, you will enjoy higher deposit and withdrawal limits and lower transaction fees.
Support process on Nobitex website
The support of this exchange is 24 hours a day, 7 days a week, and you can communicate with Nobitex support experts and ask your questions at any time of the day or night through the online chat system. This exchange also supports communication methods such as phone calls, sending tickets and visiting users in person. Nobitex does not have any support activities in Telegram and WhatsApp messengers, and the only official channel for informing Nobitex is @nobitexmarket in Telegram.
Other features, advantages and disadvantages of Nobitex digital currency exchange
After examining some important factors about the Nobitex exchange, in this section we will discuss other advantages and disadvantages of the Nobitex market:
Advantages:
– Acceptable daily trading volume of about 200 billion and also good liquidity
– Ability to convert small balances based on Tether and Toman currency
– Support for BTC-LN, ETH, BNB, BSC, TRX, BTC networks
– It has an Android and IOS mobile application
– The possibility of 24-hour trading on all days of the week
– Ability to deposit and withdraw cryptocurrencies instantly
– Very high transaction speed
– Support for a wide range of digital currencies
– Having a separate account with appropriate fees for companies
– Special plan with lower fees for trading currency pairs
– Add loss limit and profit limit feature
– The existence of a test market or test net
– The possibility of generating income using festivals and offers announced on social networks
Disadvantages:
– Lack of widespread currency pairs to trade through Bitcoin
– Lack of various trading options such as margin and futures trading
– Relatively difficult and complex user interface
– The minimum amount of buying and selling is high compared to other exchanges (6 dollors).
In this part of the introduction of Iranian digital currency exchanges, we introduced the Nobitex exchange and examined the advantages, disadvantages, and other essential features for trusting and choosing an online exchange.
To compare Iranian digital currency exchanges and to know which one you should choose to start financial activity and buy and sell cryptocurrency, stay with us.
