FarhadMarket exchange is a cryptocurrency platform that was founded by a company from Iran. Taking into account the economic sanctions imposed by the US on Iran, the launch of cryptocurrency exchanges like FarhadMarket is a necessary measure to tackle the economic problems caused by international sanctions. It was calculated that these restrictions entailed the shrinking of the Iranian economy by 10-20%. However, the use of Bitcoin and other cryptocurrencies with the assistance of FarhadMarket and other similar platforms helps to evade the barriers.
The team includes highly experienced experts and professional developers who are passionate about blockchain. The cryptocurrency exchange platform operates under the laws of the Islamic Republic of Iran and follows the regulations of this country.
The exchange supports the most popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Tether. As for the fiat money, the platform supports Iran Rial and Turkish Lira.
Users can buy and sell digital assets using convenient functionality of the service developed for different categories of traders: institutional customers and individuals.
The company positions itself as a quick cryptocurrency exchange that can deliver the service in the shortest possible time. The goal of the team is to provide smooth and comfortable user experience therefore it works hard over the interface and functionality of the system.
FarhadMarket is customer-friendly for mobile users since it’s available round the clock on Windows, Android, and iOS, and allows users to use the services on all platforms for quick access with a single username. The design of the cryptocurrency exchange is intuitive and makes the functionality clear on the site. The interface can be customized to the taste of a trader in two color variants as light and dark themes can be used.
The platform doesn’t focus on international users though it has two language versions. Most of the basic information is in Farsi which prevents foreign traders from using the platform with a full understanding of all details. For instance, users have to accept terms and conditions when they register on the platform. However, the agreement they get is given in Farsi so they have to know this language to accept the terms being fully conscious of what is offered to them. Alternatively, they have to accept the terms without a comprehensive understanding of the situation.
FarhadMarket is a peer-to-peer type of exchange that allows its customers to trade cryptocurrencies directly and reduce the expenses on trading in this way. The possibility to conduct direct deals is one of the benefits of the platform. It makes the transactions more alluring and provides good prices to users.
FarhadMarket’s financial details and security
The payments on the platform are made by card and through electronic payment systems accepted by the Central Bank of the Islamic Republic of Iran. The exchange also offers to use international transfers for depositing.
Realizing the necessity of a world-class wallet for its customers, the company cares about this issue. FarhadMerket provides a secure wallet developed by the in-house team that can be used for depositing and secure storage of funds. There is no need to transfer your cryptocurrencies to store your funds somewhere else so this convenient embedded feature can be used as a standalone wallet. Keeping funds right on the exchange, customers can sell their coins at any time. FarhadMarket wallet helps to keep your assets secure. Powerful antiviral software along with firewalls safeguard the financial well-being of the platform’s customers who decide to hold digital currencies right on the resource. Besides, it’s possible to use the cryptocurrency wallet to transfer digital cash around the world.
The wallet used by the platform supports numerous cryptocurrencies. Fast and easy direct transactions and instant exchange of a range of cryptocurrencies supported by the exchange let users take full control over their digital assets.
The services are provided transparently with specified fees and commissions for services. The conversion rates are clear and can be viewed on the resource. The platform notifies its users about the fees charged before each purchase.
Users can start trading without delay after the verification procedure. FarhadMarket requires the identification of its users. Users must provide a phone number, ID card with a photo, and a bank statement to trade on the platform. The company promises not to provide the personal data entrusted to them to any third party.
The company uses extensive experience it has accumulated over the years to increase cybersecurity employing a range of security measures such as two-factor authentication for the withdrawal of funds from your wallet thus protecting your assets from intruders. In case of an emergency such as loss of a mobile device, users should contact FarhadMarket to take measures as soon as possible.
The project standing behind the exchange is a Tehran-based privately-held company. Its LinkedIn page says that the number of its employees is below 10. And though the company is presented in social networks, it doesn’t try to provide more detailed information about its work to online users. This, probably, has to do with anti-Iranian sanctions and a lack of desire to attract attention for this reason.