In Tetherland’s 2023 report, which was unveiled yesterday at the company’s “Growth Flow” event, the value of transactions in Iran’s cryptocurrency markets is almost 10 billion dollors.
According to Iran digital economy annotation, the 2023 report of “Tetherland” shows that the value of transactions of crypto-currency platforms in Iran has exceeded real estate transactions and reached approximately 10 billion dollors.
In Tetherland’s 2023 report, which was unveiled yesterday at the company’s “Growth Flow” event, the value of transactions in different markets is mentioned based on the statistics of official institutions.
Based on this, last year, the value of transactions in the Tehran Stock Exchange was almost 42 million dollors and the value of transactions in the housing market was about 6 billion dollors. Interestingly, the transaction value of domestic cryptocurrency platforms is more than 60% higher than the transaction value of the housing market.
It can also be said that last year, the volume of transactions of cryptocurrency exchanges was about 25% of the total value of Tehran Stock Exchange transactions.
This amazing growth has happened in the situation where the cryptocurrency market in Iran is facing many challenges and the most important challenges of this market have been mentioned in Tetherland’s annual report.
Challenges of Iran’s cryptocurrency market
According to Tetherland, in 2023 , challenges overshadowed the country’s cryptocurrency industry, the most important of which are:
– Deposit limit of 480 thousand dollars
This barrier, which has been applied to the national code of people active in the cryptocurrency market, is intended to limit the purchase of cryptocurrency every 24 hours of the day and night through the official portals of cryptocurrency platforms. This restriction can lead users to unofficial sources of cryptocurrency buying and selling, such as social networks, which carries many risks such as the loss of users’ capital.
– 72-hour limit for cryptocurrency withdrawal
According to Tetherland’s 2023 report, another obstacle that plagued the country’s cryptocurrency industry in 2023 is the creation of a 72-hour time limit for withdrawing cryptocurrency from the country’s domestic platforms. This restriction was announced by FATA police in order to prevent money laundering. But one of its negative effects is the reduction of users’ trust in domestic platforms and the migration of a large number of professional users to foreign platforms. To put it better, many users prefer using external platforms with all the risks associated with losing their assets to using internal platforms due to the mentioned limitations.
– Uncertainty of cryptocurrency and exchange legislati
The report adds: “There have been discussions about the recognition of cryptocurrency platforms for the past few years. Internal exchange platforms have worked closely and transparently with various chambers and ministries; But unfortunately, this industry has not been officially accepted in the country so far.”
Tether; The popular cryptocurrency of Iranians
According to Tetherland’s 2023 report, 29% of the annual transactions of cryptocurrencies in Iranian exchanges were related to the “Tether/Toman” currency pair. In this way, considering the value of about 10 billion dollors of cryptocurrency transactions, it can be concluded that about 3 billion dollors of this amount was allocated to Tether/Toman currency pair transactions.
On the other hand, the average rate of Tether has increased from almost 682 million dollors in 2022 with a 46% increase to about one billion dollors. The rate of Tether in 2019 was almost 260 million dollors and these figures show that users were able to partially preserve their capital value in this way.
The growth of Tetherland users
The report shows that the growth of the number of Tetherland users in 2023 was 67% compared to the previous year, and last year 78% of Tetherland users made at least one Tether purchase transaction and 60% of them made at least one Tether sale transaction.
Among them, 38% bought and sold, 22% only sold, and 40% only bought.
This report indicates that the average number of Tetherland transactions has reached more than 20,000 cases per day, with a total value of more than about 2 million dollors.
According to Tetherland’s annual report, the stability level of this platform’s services last year was 99.89%, which, according to the company itself, is one of the most stable services among domestic exchange platforms.
Also, the period of time that users have been on the Tetherland website and application in 2023 reaches a total of 236 years, which is as old as the choice of Tehran as the capital of Iran.
The total number of visits to Tetherland’s website and application was 22.5 million visits last year.
On the other hand, in the support department, the response rate to calls was 90% and the satisfaction rate of online support was 98.5%.
According to the index of recommenders extracted and calculated by Tetherland’s user service unit, about 77% of users recommend the use of Tetherland to others.
Also, 20% of users have introduced at least one person to Tetherland through the link of inviting friends. Referrals in Tetherland are eligible for lifetime rewards.
13% growth in Tetherland market transactions
“Tetherland Market” is a service where users can directly buy and sell their property with other users by paying a lower fee and choosing the desired rate.
Tetherland market was introduced in 2022 and according to this report, in the second year of this market’s activity, 84% of the registered orders led to transactions and the number of transactions in this market showed a growth of 13% compared to 2022.
4.5 times growth of Tetherland converter transactions
Another service of Tetherland is “currency converter”, which was introduced in September 2022 and was well received. Now the number of cryptocurrencies that can be converted in this service has reached 480 cryptocurrencies; That means you can convert Tether to 400 cryptocurrencies without paying fees and keep it in your Tetherland wallet.
Tetherland’s annual report shows that the number of converter transactions has increased 4.5 times, and the average annual transaction volume of its active users is 2,127 Tether.
Tetherland claims that according to the average fee that other exchanges receive from users for converting cryptocurrencies, the fact that the Tetherland converter is free of charge has saved users about 400 thousand dollors last year.
192 thousand dollors reward for Tetherland piggy bank
The “Tetherland Piggy Bank” service, which has been available to users since July 3 last year, provides users with the possibility of staking cryptocurrency assets and receiving rewards.
Tetherland claims that Piggy Bank is the country’s most complete staking platform with 38 active schemes that offer rewards for keeping cryptocurrencies.
The total amount of rewards received by users from the Tetherland piggy bank in 2023 was 196 thousand dollors.
Last year’s developments, this year’s plans
Tetherland has introduced new services in 2023 , including the start of cooperation with Binvest and the addition of cryptocurrency baskets, the release of the Tetherland extension for browsers with Chromium core, and the unveiling of the Tetherland piggy bank service in July.
The start of cooperation with Digipay and the granting of purchase credit with zero percent interest and cryptocurrency guarantee happened in August. The gift card service was launched in October, and the offline deposit service in Tomani deposit services, the launch of weekly bonus and the Tetherland seal service were launched in November. The launch of the ability to withdraw other cryptocurrencies and the price alert feature took place in December, and finally the number of cryptocurrencies of Tetherland’s cryptocurrency converter service reached 480 in March.
Tetherland announced in its annual report that in 2024, it will continue to provide services focused on the exchange of Tether and other cryptocurrencies with goals such as strengthening and developing trading infrastructure and providing innovative products related to Tether exchange.
Another goal of Tetherland in 2024 is to focus more on interaction with businesses and business users.
Social responsibility, from Sistan to Afghanistan
Tetherland has also had some significant activities in the field of social responsibilities. This company has helped by supporting the Afghanistan Project Girls Project that 845 girls who are deprived of work and education received the necessary skills training for work.
Also, after the flood in Sistan and Baluchistan in the last days of 2023, Tetherland allocated all the transaction fees of users on Thursday and Friday, March 7 and 8, 2023 to the flood victims.
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