Introduction and review of the Iranian exchange Excoino

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Introduction and review of the Iranian exchange Excoino

With the growth of the crypto market in Iran, choosing a secure and reliable exchange has become very important. Excoino, being one of the older exchanges in the market, is a familiar name to many. In this article, we will provide a concise and practical review to see if Excoino is currently a suitable option for trading and investment. Stay with Nima Imani’s website for more.

Table of Content

History and Position of Excoino in the Iranian Market
Technical and Infrastructural Features
Specialized Review of Fees and User Levels
Registration and Verification (KYC) Process
Security of Excoino Exchange
Advantages and Strengths of Excoino at a Glance
Critique of Challenges and Negative Feedback
Comparison of Excoino with Domestic Competitors
Conclusion and Final Summary

History and Position of Excoino in the Iranian Market

Excoino Exchange began its operations in 1396 (2017 AD). At a time when access to international exchanges was difficult for Iranians, Excoino entered the market with the goal of localizing the cryptocurrency buying and selling process. This platform operates under the ownership of “Smart Technology Development Mani” company and has experienced many ups and downs during its over 7 years in the market.

Excoino considers itself the first provider of a dedicated cryptocurrency wallet in Iran. By focusing on user-friendly interface simplicity, the company has sought to attract a wide range of users, from beginners to professionals.

Technical and Infrastructural Features

A successful exchange doesn’t just need favorable prices; its technical infrastructure determines the user experience.

1. Diversity of Cryptocurrencies and Transfer Networks:

One of Excoino’s main strengths is its support for over 135 reputable cryptocurrencies. This asset portfolio includes:

Base Currencies: Bitcoin (BTC), Ethereum (ETH), Tether (USDT).
New Generation Currencies: Solana (SOL), Cardano (ADA), Polkadot (DOT).
Memecoins and Trending Tokens: Dogecoin, Shiba Inu, and gaming tokens.

In addition to currency diversity, support for various transfer networks such as ERC-20, BEP-20 (BSC), TRC-20, and the native Bitcoin network means users face fewer restrictions when transferring their assets and can manage transfer costs (Network Fee).

2. Mobile Application and User Panel

Excoino has invested significantly in its mobile version. The Android and iOS application of this exchange, with a modern User Interface (UI), offers features such as:

Real-time viewing of prices and simple technical charts.
Management of the internal wallet.
Option for quick asset conversion (Swap).
Notification system for price changes.

Specialized Review of Fees and User Levels

Regarding fees, Excoino follows a mid-range strategy. The fee rate for direct trades (buying and selling directly from the exchange) is typically around 0.2%. However, it’s important to note that on the “Excoino Market” section, which is a Peer-to-Peer (P2P) market, fees may vary based on the user’s trading volume.

Activity Type	Fee Rate / Limit
Trading Fee	Approximately 0.2%
Minimum Purchase Amount	100,000 Toman
Rial Deposit Fee	Free (According to Central Bank regulations)
Identity Verification Time	Average of 2 hours

Registration and Verification (KYC) Process

In accordance with anti-money laundering regulations in Iran, identity verification is mandatory on Excoino. This process is performed entirely online and includes the following steps:

Registering a mobile number in the user’s name.
Uploading an image of the National ID card.
Submitting a video or selfie along with a handwritten note according to the exchange’s template.
Verifying the landline phone number.

Positive Note: The identity verification speed on Excoino is higher compared to many competitors, and typically, the trading account becomes active in less than 2 hours.

Security of Excoino Exchange

Security on Excoino is composed of several layers:

Cold Storage: Excoino claims to keep a large portion of user assets in offline wallets to protect them from cyberattacks.
Two-Factor Authentication (2FA): The option to enable two-factor authentication via SMS or Google Authenticator is available.
Anti-Phishing: Warning systems to prevent access to fake websites.

However, due to the lack of international regulation in Iran, there is no global legal guarantee for assets, and user trust is based on the company’s performance history and transparency.

Advantages and Strengths of Excoino at a Glance

Ease of Deposit and Withdrawal: Ability to connect to direct banking gateways and Rial settlements through Paya cycles.
Excoino Market Service: A platform for professional trading with limited tools (Limit Order).
24-Hour Support: Offering support services via online chat, tickets, and phone calls.
Prizes and Incentive Plans: Holding various campaigns and offering rewards for referring friends.

Critique of Challenges and Negative Feedback

No platform is without flaws. Regarding Excoino, some challenges have been highlighted in recent years:

1. Delays in Fiat and Crypto Withdrawals:

In certain periods, user reports have been published on platforms like Twitter (X) and Trustpilot, complaining about delays in Rial deposits or the confirmation of cryptocurrency withdrawals. Although the support team is usually responsive, these delays in the volatile crypto market can lead to user losses.

2. Price Spread:

In the quick buy/sell section, the difference between the buying and selling price (Spread) is sometimes slightly higher than in global markets. This might not be very appealing to day traders.

3. Systemic Limitations:

Like any other domestic exchange, the risks related to regulations in Iran always exist. The lack of complete transparency in the country’s cryptocurrency laws means users always approach these platforms with a degree of caution.

Comparison of Excoino with Domestic Competitors

Compared to exchanges like Nobitex or Wallex, Excoino places a greater emphasis on simplicity. While Nobitex leads in P2P market trading volume, Excoino strives to maintain its position by offering an internal wallet with secure storage capabilities and a wide variety of currencies.

Conclusion and Final Summary

With over 7 years of experience, Excoino Exchange is considered one of the pillars of the Iranian crypto market. This platform is an ideal choice for users looking for a simple interface, direct Rial purchases, and a high variety of coins.

However, it is recommended to:

Never store all your assets on any exchange (domestic or foreign) and use hardware wallets.
Before depositing large amounts, perform test deposits and withdrawals with small sums.
Always follow news related to exchange regulation updates.