Wallex Exchange (Khalgh Servat Sarzamin-e Parse) is an Iranian cryptocurrency exchange of the type of trading markets. Wallex is one of the first domestic digital currency exchanges that was launched in 2018 by a group of students from Sharif University and Tehran, who have expertise in the fields of programming, management and finance, and is now a knowledge-based company. In Wallex, it’s possible to buy and sell cryptocurrencies such as Bitcoin, Ethereum, Tether, Dogecoin and more than 100 other cryptocurrencies.
According to Iran digital economy annotation, Wallex has made it possible for professionals to buy and sell Bitcoin and other digital currencies to use online candlestick and line charts for market analysis.
Checking the main features of Wallex exchange
We know that to choose an online digital currency exchange, we must consider some of our desired features, including security, fee amount, volume of transactions, variety of currencies, duration of transactions and settlement, support, etc. In this section, we will review some of the main criteria for identifying a valid digital currency exchange in the Wallex exchange:
Wallex exchange security, which has a high standard
Wallex exchange has the highest security coefficients. The two-factor code for activation is one of the requirements of this exchange that even deposit and withdrawal requests for coins or rials are possible only by using this two-factor code. Also, your Riyal assets will only be transferred to a personal account with your name, and it’s not possible to withdraw and transfer to another person’s account.
Each user has a unique wallet in Wallex and in each wallet an address is assigned to the user for each digital currency. All users’ digital assets are stored in hardware (cold storage).
In the following, we will explain more about Wallex security:
– All information between the user and the system is exchanged and encrypted by SSL protocols so that there is no possibility of information theft.
– All system information and data are stored on dedicated servers that benefit from multi-layered software and hardware firewalls.
– All the important and identity data of the users are stored encrypted, so that even if the server is hacked, the intruder cannot misuse the information.
– All the important information of the system is regularly backed up, which means that the possibility of losing user information is practically zero.
– All levels of access to important features of the system, such as entering the system, withdrawing from the wallet and changing the system password, have a two-factor authentication process.
– All important processes that happen in the system are quickly notified through email and SMS so that there is no possibility of any unauthorized use of the user account.
The fee for trading markets in Wallex is calculated according to the user level
In Wallex exchange, the fee received by this exchange is that in each transaction, a percentage of the total amount of the transaction will be deducted as a fee from both sides of the transaction. This fee will prevent the registration of fake and repeated transactions and will create more favorable conditions in the market for all users.
– The buyer’s fee in the form of cryptocurrency and the seller’s fee are deducted from the amount received by the user.
– When registering a transaction in Wallex, the fee is displayed to the user.
The fee for each transaction is calculated according to the volume of the user’s transactions in the last 30 days and according to the table below:
| Level |
The volume of transactions of the last 30 days of the user |
Fixed | Maker | Taker |
| 1 | 0 to 200 dollors | 0.35% | ||
| 2 | 200 to 1000 dollors | 0.3% | ||
| 3 | 1000 to 2000 dollors | 0.25% | ||
| 4 | 2000 to 20,000 dollors | 0.2% | ||
| 5 | 20,000 to 60,000 dollors | 0.17% | 0.18% | |
| 6 | 60,000 to 192,000 dollors | 0.14% | 0.17% | |
| 7 | 192,000 to 385,000 dollors | 0.12% | 0.16% | |
| 8 | More than 385,000 dollors | 0.1% | 0.15% |
Market fees based on USDT and BTC
The fee for markets based on USDT and BTC is fixed at 0.2%.
Instant buying and selling fees
The fee for instant buying and selling transactions is calculated based on the user fee in Toman base trading markets.
Robot Trader Fees
In markets based on Tomans, 0.1% and in markets based on Tether, 0.05% will be charged from the user.
Also, the withdrawal fee is 1% of the user’s requested amount up to 4000 Tomans. The fee for withdrawing coins is not a percentage and is the same for all withdrawal amounts, which is displayed to the user while withdrawing coins.
Authentication at Valex exchange takes less than 10 minutes
After entering the Wallex site, you will be transferred to the authentication page. This process in Wallex includes two different levels. If you choose the basic level, you can use the defined accesses of this level by completing the personal information form. But if you choose the unlimited level, you need to complete the authentication process.
Authentication on this site, similar to most other sites, includes completing personal information and uploading required documents, such as national ID card and handwritten notes. After sending the documents, you have to wait for the documents to be approved by Wallex exchange support. After the identity is confirmed by Wallex support team, all restrictions on deposit and withdrawal and other facilities will be removed. Remember that you can start trading as soon as you authenticate at the basic level; Of course, with lower amounts and without the possibility of withdrawing the purchased currency from Wallex exchange.
The support process in Wallex exchange, which has special facilities for VIP users
This exchange is supported 24 hours a day, 7 days a week, 365 days a year. Users can communicate with the support team of this exchange and raise their questions through phone calls, online chat, sending tickets and email [email protected]. Also, VIP users whose monthly transaction volume is above about 960 thousand dollors can contact this exchange through WhatsApp at 09934870774 to know about the fees and other special features of VIP users.
What is the reason for the difference in Wallex exchange prices with other sites?
This exchange is a P2P (peer-to-peer) trading platform that acts as an intermediary between users. The price on Valax platform is determined by buyers and sellers (site users). The user can register an order with his/her suggested price in Wallex, the transaction is completed when another user agrees to his/her order.
Other notable features of Wallex exchange
After examining some important factors about Wallex exchange, in this section we will discuss other good features of this exchange:
– Support for Bitcoin-based markets
– Fast authentication
– Has a dedicated wallet
– Support for Bitcoin currency pairs
– It has a trading robot that you can buy and sell without being online.
– The possibility of announcing the desired price in such a way that you can choose the desired price for your desired currencies using the possibility of being on the alert. As soon as the currency price crosses the set price, a notification will be sent to you so that you no longer need to constantly check the prices.
– Get rewards by inviting friends and benefit from 45% of friends’ transaction fees
– Stop Loss Tool
– By using profit and loss (P&L) report, traders can see their periodic performance and optimize their future strategy based on that.
– The possibility of using trading robots
In this section of the introduction of Iranian digital currency exchanges, we introduced the Wallex 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.
