Introduction: An Overview of Pooleno Exchange in Iran’s Cryptocurrency Market

The cryptocurrency market in Iran, despite its unique challenges and restrictions, has always been notably dynamic. In this context, domestic exchanges play a critical role in providing Iranian users access to the world of cryptocurrencies. Pooleno Exchange is one of the active players in this ecosystem, having established itself as a viable option in the market with over five years of operation. According to its website, Pooleno serves more than 470,000 users who utilize its services. The exchange’s headquarters is located in Tehran at Sheikh Baha’i Square, Khodami Street, No. 10, Unit 3.

The number of users and the operational history of Pooleno indicate its significant presence and standing in Iran’s domestic market. This level of user adoption reflects the trust that a portion of Iran’s crypto community has placed in this platform. However, to accurately assess Pooleno’s position among Iran’s top exchanges, the statistics of other competitors must also be considered. For instance, Nobitex Exchange claims to be the largest cryptocurrency exchange in Iran, with over 11 million users. Similarly, Sarmayex Exchange (formerly known as Arzjoo) presents itself as the “first and largest” exchange in Iran, with over 500,000 users. The discrepancy in user numbers and claims of being the “largest” could stem from different reporting methods, varying time periods for data collection, or a focus on different metrics (such as trading volume instead of user count). Nevertheless, compared to Nobitex, which reports a significant gap in user numbers, Pooleno, with its 470,000 users, likely ranks in the second or third position in the domestic market despite having a substantial user base. This situation indicates that Pooleno is a key player, but competition in Iran’s domestic market is fierce, with exchanges striving to attract and retain users.

Section One: Key Features and Services of Pooleno Exchange

Pooleno Exchange offers a range of features and services to facilitate cryptocurrency trading for Iranian users. These services are designed to simplify entry into the crypto market and cater to the diverse needs of traders.

Variety of Cryptocurrencies and Supported Blockchain Networks

One of Pooleno’s strengths is the wide variety of tradable cryptocurrencies and supported blockchain networks. The exchange provides access to over 150 cryptocurrencies for buying and selling. This diversity allows traders to diversify their portfolios and invest in a broad range of crypto projects. Additionally, Pooleno supports more than 70 blockchain networks, which is a significant competitive advantage for a domestic Iranian exchange. Given the severe restrictions Iranian users face due to international sanctions when accessing foreign exchanges, support for multiple networks enables users to choose transfer routes with lower fees, higher speed, and greater stability. This capability is particularly important for transferring assets between personal wallets and exchanges or across different exchanges.

Pooleno also adopts a proactive approach to quickly listing trending cryptocurrencies, keeping pace with global market trends. The exchange closely monitors the market and promptly adds new and popular cryptocurrencies to its listings. For example, cryptocurrencies based on Telegram bots, such as Notcoin, Dogs, and Hamster, were listed on Pooleno simultaneously with their global launch. This speed in listing is highly valuable for traders seeking to capitalize on short-term opportunities in emerging cryptocurrencies, reflecting Pooleno’s efforts to maintain platform dynamism and appeal to users.

User Interface and User Experience (UI/UX)

From its inception, Pooleno was built with an emphasis on simplifying entry into the cryptocurrency market and remains committed to this principle. The exchange’s user interface, both on its website and mobile application (available for Android and iOS), is designed to be fast and user-friendly. This approach is particularly beneficial for beginner users new to the crypto world, as it allows them to buy and sell cryptocurrencies easily without grappling with the complexities often associated with trading platforms.

The focus on simplicity and speed in the user interface design reflects Pooleno’s aim to attract and empower a wide range of users, including newcomers to the market. In a market often associated with technical jargon and complex processes, an easy-to-use platform can lower entry barriers and contribute to broader public adoption of cryptocurrencies. This strategy helps Pooleno capture a significant share of the new user market and provides a positive experience for them.

Internal Wallet and Asset Security

Pooleno Exchange allows users to store their cryptocurrencies in the exchange’s secure internal wallets, which are accessible 24/7. Storing assets in these wallets ensures the security of user assets. One key advantage of using the exchange’s internal wallet is the ability to execute faster trades without incurring transfer fees to external personal wallets. This feature is particularly beneficial for active traders seeking to conduct frequent trades, as it can reduce costs and enhance operational efficiency.

To protect user assets, Pooleno has implemented multiple security measures. The exchange prioritizes user security and authentication, keeping all user information confidential. Transactions are secured with multi-layered and encrypted systems. Additionally, an automatic alert system ensures the accuracy of addresses during cryptocurrency transfers to personal wallets, preventing erroneous asset transfers. The option to enable two-factor authentication (2FA) is also available for user accounts, adding an extra layer of security against unauthorized access.

Despite these internal security measures, a critical point regarding Pooleno and other Iranian exchanges is the lack of official regulation. The absence of regulation means no independent governmental or financial institution oversees the exchange’s operations, and user funds are not covered by any specific guarantees or insurance in cases of bankruptcy, large-scale hacks, or fraud. This situation creates an inherent risk for users. While Pooleno strives to protect user assets with internal security standards, the effectiveness and sustainability of these measures cannot be fully evaluated without external oversight and independent audits. Users should be aware that trust in the security of internal wallets in such circumstances relies heavily on the exchange’s reputation and operational history rather than legal or regulatory frameworks.

Customer Support: Communication Channels and Response Speed

Customer support is a cornerstone of any cryptocurrency exchange, especially in a 24/7 market with high volatility. Pooleno Exchange offers 24/7 support with professional consultants. This constant availability is invaluable for users facing technical issues, transaction-related questions, or needing guidance at any time of day or night.

Contact methods for Pooleno’s support team include the phone number 0219107520 and online chat options. This variety of communication channels allows users to choose the most convenient method. As an Iranian exchange, providing Persian-language support is a natural and crucial feature. This capability ensures users can raise their issues and questions in their native language without language barriers, receiving clear and precise responses. This level of support accessibility and effective communication in Persian significantly enhances user trust and improves their overall experience with the exchange.

Section Two: Fee Structure and Costs at Pooleno

The fee structure and costs in any cryptocurrency exchange play a significant role in users’ decisions to choose a platform and the profitability of their trades. Pooleno has its own distinct approach in this regard.

Deposit and Withdrawal Fees (Fiat and Crypto)

One of Pooleno’s attractive features is its policy of not charging fees or commissions for deposits and withdrawals. This means users do not pay any direct fees to the exchange for depositing or withdrawing fiat (Iranian Rial) or cryptocurrencies. Any costs incurred in this regard are solely related to the blockchain network fees for different cryptocurrencies, over which Pooleno has no control. This policy is a significant advantage for active traders, particularly arbitrageurs. In arbitrage strategies, where profits are derived from small price differences between exchanges, deposit and withdrawal fees can quickly erode profits. Therefore, Pooleno’s no-fee policy directly contributes to increased profitability and efficiency in trading strategies. This transparency in costs is also appealing to users, as they only face unavoidable network fees outside the exchange’s control.

Transaction Fee Calculation Criteria

Pooleno’s method for calculating transaction fees is based on the spread (difference between the buy and sell price of Tether (USDT)). This model, known as spread, means the fee is incorporated into the final transaction price as the difference between the buy and sell price of the currency. This price difference may vary over 24 hours.

This fee model contrasts with the traditional Maker/Taker model commonly used by major international exchanges (such as Binance, Coinbase, Kraken, BitMart, and Gemini). In the Maker/Taker model, fees are calculated based on whether an order is added to the order book (Maker) or executed immediately (Taker), offering greater transparency in the exact fee amount. Pooleno’s spread model is straightforward and easy to understand for beginner users seeking quick and simple buying and selling. However, for professional traders or arbitrageurs aiming for minimal spreads and precise control over execution prices and cost calculations, it may not be ideal. The fluctuating spread over 24 hours can also introduce uncertainty for planning long-term trading strategies and accurately calculating profitability.

Minimum Deposit and Withdrawal (Fiat and Crypto)

Pooleno Exchange has set specific minimum amounts for fiat transactions. The minimum fiat deposit is 500,000 Tomans, making the cryptocurrency market accessible to a wide range of Iranian users, even those with relatively small capital. The minimum amount for fiat withdrawals is 375,000 Tomans.

Regarding minimum crypto deposits and withdrawals, Pooleno states that these amounts vary depending on the selected cryptocurrency, and the exact amount must be confirmed through the exchange’s website during the transaction. The lack of transparency in minimum crypto deposit and withdrawal amounts in initial data can be challenging for users planning transactions, particularly those working with specific cryptocurrencies or intending to transfer precise amounts. This requires real-time checking on the platform for each specific currency.

The following Table 1 summarizes Pooleno’s fee structure and restrictions:

Table 1: Pooleno’s Fee Structure and Restrictions

Section Three: Deposit and Withdrawal Timing at Pooleno

The speed of deposits and withdrawals in cryptocurrency exchanges, especially for active traders and specific strategies like arbitrage, is of paramount importance. Below, we examine the timing of transactions at Pooleno.

Fiat and Crypto Deposit Speed

For fiat deposits at Pooleno Exchange, the user account must reach the “Fast” level. The payment process is conducted through the Shaparak online gateway to ensure quick deposits. The “Fast” level requirement means users must complete at least the initial stages of authentication to access this feature. This is a common mechanism in exchanges to manage risk and comply with regulations.

For crypto deposits, the account must be at the “Professional” level, which typically involves more comprehensive authentication, including photo verification. This condition ensures that crypto transactions comply with security standards and anti-money laundering (AML) regulations. Thus, deposit speed at Pooleno directly depends on the user completing the authentication process. This indicates that to fully benefit from deposit speed, users must complete the full authentication process.

Fiat and Crypto Withdrawal Speed

Unfortunately, precise and clear information regarding the timing of fiat and crypto withdrawals is not available in the provided documents. This is a significant drawback in comprehensively evaluating the exchange, especially for traders for whom settlement speed is critical. In the volatile cryptocurrency market, delays in withdrawals can lead to missed profitable opportunities.

However, it is known that crypto withdrawals require an account at the “Professional” level, which includes photo verification. The photo verification process takes up to 24 hours, and approval or rejection is communicated to the user via SMS. This means that even after completing authentication, the exact timing of crypto withdrawals to personal wallets or fiat withdrawals to bank accounts remains unclear. This information gap increases uncertainty for planning trading strategies, particularly arbitrage, where the speed of asset transfers between exchanges and conversion to fiat is critical. The lack of this information may indicate variable timing or that the exchange does not guarantee high speed, posing a risk for arbitrageurs.

The following Table 2 summarizes the timing of deposits and withdrawals at Pooleno:

Table 2: Deposit and Withdrawal Timing at Pooleno

Section Four: Credibility, Security, and Registration Conditions at Pooleno

Credibility, security, and registration and authentication (KYC) processes are among the most critical factors users consider when choosing a cryptocurrency exchange.

Credibility and Regulatory Status

With over five years of operation in Iran’s cryptocurrency market, Pooleno Exchange is considered an experienced platform. This relatively long history compared to many newer exchanges can foster a sense of trust among users. However, a critical point regarding Pooleno’s credibility is the lack of regulation. This means that Pooleno, like many other Iranian exchanges, is not overseen by an independent governmental or financial institution.

The absence of regulation is the most significant weakness of Pooleno and other domestic Iranian exchanges. Regulation ensures a guarantee and backing for user funds, providing legal mechanisms to protect users and recover their assets in cases of issues like exchange bankruptcy, hacks, or fraud. Without regulation, an exchange’s credibility relies more on its reputation, operational history, and internal measures than on legal support. This situation arises from the lack of a clear and comprehensive legal framework for cryptocurrency activities in Iran. Additionally, international sanctions prevent Iranian exchanges from obtaining foreign licenses or regulations, further complicating their status. Users should be aware of this inherent risk, especially when holding large amounts on the exchange.

Pooleno’s Security Measures: Authentication, Secure Wallets, and Alert Systems

Despite the lack of external regulation, Pooleno Exchange emphasizes prioritizing user security and authentication. The exchange requires authentication processes to protect user assets and comply with national and global anti-money laundering (AML) regulations. Pooleno is also committed to keeping all user information confidential.

To ensure transaction security, Pooleno employs multi-layered and encrypted systems. These systems are designed to protect user data and assets from unauthorized access. Another security feature is an automatic alert system for accurate addresses during cryptocurrency transfers to personal wallets, helping prevent human errors in entering addresses and sending assets to incorrect destinations. Additionally, the option to enable two-factor authentication (2FA) is available for user accounts, adding an extra layer of security against unauthorized access.

These internal security measures demonstrate Pooleno’s efforts to create a secure environment for users. These are fundamental measures that any reputable cryptocurrency exchange should implement. However, without independent oversight and audits by regulatory bodies (such as SOC 2 Type II or ISO 27001 standards seen in international Exchanges like Gemini and Crypto.com), the effectiveness and sustainability of these measures cannot be fully evaluated. Users should note that internal security is not a complete substitute for regulation, and reliance on the exchange’s internal policies is still necessary.

Registration and Authentication (KYC) Conditions and Stages

The registration and authentication (KYC) process at Pooleno Exchange is conducted to verify user identities and prevent illegal activities such as money laundering and fraud. The process at Pooleno has two stages:

First Stage (Basic): In this stage, users must provide initial identity information, including full name, national ID number, bank card number, and mobile number (registered in the user’s name). Completing this stage allows users to easily enter the cryptocurrency market, buy and sell cryptocurrencies, perform fiat deposits and withdrawals, and deposit cryptocurrencies. This authentication level provides quick and easy access to the exchange’s core functions without creating significant barriers for new users.

Second Stage (Photo Verification): To enable crypto withdrawals from the exchange, users must complete the second authentication stage, which involves submitting a selfie with their national ID card or photo ID containing the national ID number and a handwritten note. This stage enhances account security for more sensitive withdrawals and aligns with anti-money laundering (AML) requirements, even if the exchange lacks formal regulation.

The authentication process at Pooleno takes up to 24 hours, and approval or rejection is communicated to the user via SMS. This timeline for photo verification is reasonable, allowing users to start with minimal hassle and complete more comprehensive steps only when needed for crypto withdrawals. This two-stage authentication system strikes a balanced approach to attracting users while maintaining minimum security and compliance standards.

Sanctioned Countries and Service Restrictions

One of the most significant and critical distinctions between Pooleno Exchange and international exchanges is its approach to Iranian users. As an Iranian exchange, Pooleno does not impose sanctions or restrict services for Iranian users. In fact, its primary focus is to satisfy Iranian traders and provide services tailored to them.

This feature makes Pooleno one of the few accessible and legal options for Iranians in the cryptocurrency market. While most major global exchanges, such as Binance, Coinbase, Kraken, Gemini, Crypto.com, and BitMart, do not offer services to Iranian residents or severely restrict their access due to international sanctions and anti-money laundering (AML) regulations, Pooleno is specifically designed to serve this target market. This makes Pooleno’s importance in the domestic ecosystem twofold, as it eliminates the need for Iranian users to resort to risky solutions like VPNs or fake identities, providing a direct and (within Iran’s legal framework) legal pathway to enter the crypto market. This unrestricted access is an unparalleled competitive advantage for Pooleno in the Iranian market.

Section Five: Arbitrage Analysis at Pooleno Exchange

Arbitrage is a trading strategy in financial markets, including cryptocurrencies, aimed at profiting from price differences of an asset across different markets. This section explores the concept of arbitrage and Pooleno’s potential for such transactions.

The Concept of Cryptocurrency Arbitrage and Its Types

Arbitrage in the cryptocurrency market involves exploiting price differences of a specific cryptocurrency across different exchanges or markets. This strategy entails buying an asset at a lower price on one exchange and simultaneously selling it at a higher price on another exchange. The profit from arbitrage is typically marginal but attractive to many traders due to its relatively low risk, as it relies on existing price differences rather than future price predictions.

The main types of arbitrage in the cryptocurrency market include:

• Cross-Exchange Arbitrage: The simplest and most common form, involving buying a cryptocurrency at a lower price on one exchange and selling it at a higher price on another.

• Triangular Arbitrage: In this method, a trader exploits price differences between three currencies within a single exchange. For example, buying Bitcoin with Tether, converting Bitcoin to Ethereum, and then converting Ethereum back to Tether to realize a profit.

• Decentralized Arbitrage: This involves trading between centralized exchanges (CEX) and decentralized exchanges (DEX).

• Flash Loan Arbitrage: A more advanced strategy enabled by flash loans in DeFi protocols, allowing traders to borrow large sums, exploit price differences, and repay the loan within the same transaction.

• Spatial Arbitrage: This focuses on price differences across international exchanges, which may arise from regional demand variations.

A comprehensive understanding of arbitrage and its types is essential for professional traders seeking profitable opportunities in the market. This knowledge forms the basis for analyzing exchanges’ capabilities for this strategy and helps traders approach profit potential and risks realistically.

Assessing Arbitrage Potential at Pooleno: Advantages and Limitations

Pooleno Exchange, with its features, offers potential for arbitrage but also faces certain limitations:

Advantages:

• No Deposit/Withdrawal Fees: Pooleno does not charge direct fees for fiat or crypto deposits and withdrawals, except for blockchain network fees. This is a significant advantage for arbitrageurs, as fees can quickly erode the marginal profits from arbitrage. Reducing these costs directly enhances the profitability of arbitrage trades.

• High Currency and Network Variety: Support for over 150 cryptocurrencies and 70 blockchain networks provides more opportunities to identify price discrepancies between Pooleno and other exchanges (domestic or international, if accessible). The more currency pairs and networks supported, the higher the likelihood of discovering arbitrage opportunities.

• Fast Listing of Trending Cryptocurrencies: Pooleno’s speed in listing trending cryptocurrencies (e.g., Notcoin) can create short-term, high-profit arbitrage opportunities during initial launches or high volatility after listings across exchanges. These opportunities are often fleeting and require quick action.

• 24/7 Support: Access to 24/7 support can assist in quickly resolving issues during arbitrage execution. In time-sensitive transactions, immediate support can prevent potential losses.

Limitations:

• Lack of Transparency in Withdrawal Settlement Times: The most significant limitation for arbitrage at Pooleno is the lack of clear and precise information about fiat and crypto withdrawal settlement times. Speed of settlement is critical for arbitrage success. If withdrawals are delayed, the initial price difference may disappear, rendering the arbitrage trade unprofitable or even resulting in losses. This uncertainty poses a significant risk for arbitrageurs.

• Lack of Regulation: The absence of official regulation increases inherent risks for users. In case of technical issues, unusual withdrawal delays, or exchange bankruptcy, there is limited legal recourse to recover assets. This can be concerning for larger capital involved in arbitrage.

• Transaction Fee Model (Spread): Using a variable spread for transaction fees instead of the Maker/Taker model may be less desirable for professional arbitrageurs seeking minimal costs and full transparency in profit calculations. Variable spreads can make precise profit forecasting more challenging.

• Lack of Internal Arbitrage Tools: Pooleno does not offer internal arbitrage tools (e.g., arbitrage bots). This means users must rely on external tools for automated arbitrage strategies, increasing complexity and the need for coordination between platforms.

Overall, Pooleno, with its no-fee deposit/withdrawal policy and currency variety, can serve as a suitable “base” for executing one leg of an arbitrage trade (e.g., buying a cryptocurrency at a lower price). However, the lack of transparency in withdrawal timing is a primary risk for completing the arbitrage cycle. For cross-exchange arbitrage, the speed of asset transfers between exchanges and conversion to fiat is critical. The absence of internal arbitrage tools means users must rely on external tools, adding complexity and coordination requirements.

Importance of Speed, Accuracy, and Professionalism in Arbitrage Between Exchanges

The cryptocurrency market is highly volatile, with prices changing in fractions of a second. This volatility, while creating profitable opportunities, underscores the fleeting nature of arbitrage. Arbitrage opportunities can appear and disappear in moments, necessitating unparalleled speed and accuracy in identifying and executing trades. To capitalize on small price differences between exchanges, not only is rapid trade execution essential, but low transaction fees are also critical. Even a slight delay in execution or high fees can eliminate potential profits.

In such an environment, relying on manual decision-making and execution for arbitrage is highly challenging and often impossible. This is where professional and automated tools come into play. Arbitrage bots, by continuously monitoring prices across multiple exchanges and executing trades automatically, achieve speed and accuracy beyond human capabilities. These bots can identify opportunities invisible to even the most experienced traders and execute them with incredible speed.

Introduction to Smart Arbitrage Platforms (e.g., “Soodjoo” as a General Concept of Arbitrage Bots) and Their Role in Profit Generation

“Soodjoo” refers to cryptocurrency arbitrage platforms or bots, which are software tools designed to automate the arbitrage process. These bots connect to multiple exchanges via APIs (Application Programming Interfaces), compare prices in real-time, identify differences, and execute buy and sell transactions automatically with minimal delay.

The advantages of using smart arbitrage bots include:

• Transaction Automation: These bots eliminate the need for constant human monitoring, enabling 24/7 trading. This allows traders to capitalize on market opportunities even when they are not active.

• Error Reduction: Using precise algorithms, bots minimize human errors caused by emotions, fatigue, or miscalculations.

• High Speed: Bots can identify and execute arbitrage opportunities in fractions of a second, critical for exploiting momentary market fluctuations.

• Multi-Exchange Support: These platforms enable price comparisons across multiple exchanges, identifying and capitalizing on the smallest price differences.

• Risk Management: Many advanced bots offer risk management tools, such as setting profit/loss limits, market volatility analysis, and controlling investment amounts.

Examples of arbitrage bots mentioned in the sources include ArbiSmart, HaasOnline, 3Commas, Golden Arbitrage, BitsGap, and Quadency.

Since Pooleno Exchange does not offer internal arbitrage tools, smart arbitrage platforms (like the “Soodjoo” concept) can play a critical role in leveraging Pooleno’s arbitrage potential. These bots provide the speed and accuracy needed to identify and execute trades between Pooleno and other exchanges. Thus, Pooleno can be a key component in an arbitrage strategy, but effective execution requires integration with these external smart tools. This is a practical recommendation for users pursuing arbitrage: Pooleno can be part of their strategy, but automated external tools are necessary to capitalize on profitable opportunities.

Section Six: Comparison of Pooleno with Domestic Iranian Exchanges

To better understand Pooleno Exchange’s position in Iran’s domestic market, comparing it with other prominent domestic exchanges based on key criteria is essential. These criteria include the number of supported cryptocurrencies, fees (deposit, withdrawal, transaction), settlement times, KYC requirements, security, and support.

Comparison with Nobitex

Nobitex is recognized as Iran’s largest cryptocurrency exchange, with over 11 million users, far surpassing Pooleno’s 470,000 users. This significant user base gap likely indicates greater market depth and liquidity at Nobitex, which is crucial for larger trades and high-volume arbitrage. Nobitex supports over 160 reputable cryptocurrencies, while Pooleno offers 150 to 200 cryptocurrencies. In terms of currency variety, both exchanges are competitive.

For transaction fees, Nobitex uses a tiered fee structure based on 30-day trading volume, ranging from 0.35% for volumes below 10 million Tomans to 0.2% for volumes above 100 million Tomans. Pooleno, however, uses a variable Tether spread for fees. This difference in fee structures can be decisive for traders with frequent deposits and withdrawals.

Regarding deposit and withdrawal fees, Nobitex offers free fiat and crypto deposits, but charges a 1% fiat withdrawal fee (up to 4,000 Tomans) and variable crypto withdrawal fees based on the currency. Pooleno, on the other hand, charges no direct deposit/withdrawal fees (except network fees), which is highly attractive for arbitrageurs.

Withdrawal times at Nobitex take 24 hours for the first withdrawal, with subsequent withdrawals processed faster. Crypto withdrawal times vary by currency. In contrast, Pooleno’s withdrawal times are unspecified, a significant drawback for arbitrageurs.

In terms of security and KYC, Nobitex emphasizes high security and requires full authentication (national ID, mobile, date of birth) for account recovery. Pooleno has two authentication levels, requiring photo verification for crypto withdrawals. Both exchanges offer Persian support, but Pooleno provides 24/7 phone and online support.

Comparison with Walex

Walex, like Pooleno, claims “zero” or “fair” fees, avoiding significant costs for users. Pooleno also has no direct deposit/withdrawal fees. In terms of currency and network variety, Walex offers over 150 coins and 130 trading markets, while Pooleno provides 150 to 200 currencies and 70+ blockchain networks, making both competitive.

A key strength of Walex is its claim of “instant withdrawals”. If true, this gives Walex a significant advantage over Pooleno for arbitrageurs, as Pooleno’s withdrawal times are unspecified.

Walex offers advanced features for professional traders, including free trading bots (e.g., Margin Grid, Spot Grid, Martingale, Infinity Grid, Smart Rebalance) and margin trading up to 10x. Pooleno does not mention internal arbitrage/trading bots or margin trading capabilities.

For security and KYC, Walex emphasizes fast and comprehensive authentication and uses cold wallets and 2FA. Pooleno also has two authentication levels, requiring photo verification for crypto withdrawals and offering 2FA. Walex appears more advanced for professional traders with its trading bots and margin features.

Comparison with Ramzinex

Ramzinex surpasses Pooleno in currency variety, supporting over 330 cryptocurrencies compared to Pooleno’s 150-200 currencies. This greater variety may appeal to users seeking specific altcoins. Ramzinex has low transaction fees, with approximate fees visible in the user panel, while Pooleno uses a variable spread.

For withdrawal times, Ramzinex claims instant fiat withdrawals (under one hour) or via the Paya system, giving it an edge over Pooleno’s unspecified withdrawal times for arbitrageurs.

In terms of security and KYC, Ramzinex allows buying/selling without initial authentication, but requires basic authentication for fiat/crypto transfers. This may appeal to users seeking initial anonymity. Ramzinex uses cold wallets, 2FA, data encryption, and intrusion detection/prevention systems (IDPS). Pooleno also has two authentication levels with photo verification for crypto withdrawals and offers 2FA.

Ramzinex provides advanced features like diverse trading bots (Smart Rebalance, Nabat, Martingale) and leveraged trading, making it more appealing for professional traders with diverse strategies.

Comparison with Sarmayex (Arzjoo)

Sarmayex (formerly Arzjoo) claims to be Iran’s “first and largest” exchange with over 500,000 users, conflicting with Nobitex and Pooleno’s claims (470,000 users). Sarmayex supports over 700 cryptocurrencies, significantly more than Pooleno’s 150-200 currencies, making it highly attractive for altcoin investors.

Sarmayex also offers a P2P (peer-to-peer) market, which Pooleno does not explicitly mention. The P2P market enables direct trading between users, appealing to some traders.

Regarding fees and withdrawal times, precise and transparent information for Sarmayex is unavailable in the provided data. A user review mentions requiring Level 2 authentication for withdrawals, similar to Pooleno’s photo verification for crypto withdrawals. Sarmayex also offers 24/7 support.

Overall, Sarmayex’s extensive currency variety and P2P market provide strengths that Pooleno lacks. However, the lack of transparency in fees and withdrawal times makes a complete evaluation challenging.

The following Table 3 summarizes the comparison of Pooleno with domestic Iranian exchanges:

Table 3: Comparison of Pooleno with Domestic Iranian Exchanges

Section Seven: Comparison of Pooleno with Leading International Exchanges

Comparing Pooleno Exchange with leading international exchanges helps understand its global standing and fundamental differences in accessibility, regulation, fee structure, transaction speed, security, and service variety. Note that this comparison is largely theoretical, as the most critical consideration for Iranian users is international sanctions, which restrict or prevent access to most of these exchanges.

Key Considerations for Iranian Users

As previously mentioned, the primary factor for Iranian users in choosing an exchange is the restrictions imposed by international sanctions. Most major and reputable global exchanges, due to sanctions and AML/KYC regulations enforced by international bodies, do not provide services to Iranian residents or severely limit their access. This situation makes Pooleno, with its Iranian nature and focus on domestic users, an essential and practical option for many Iranians, even with differences in features and regulation compared to global competitors.

Comparison with Binance

Binance, the world’s largest cryptocurrency exchange, surpasses Pooleno in currency variety, liquidity, advanced features, and regulatory and security levels. Binance supports over 350 cryptocurrencies, compared to Pooleno’s 150-200 currencies. Regarding regulation, Binance is licensed and regulated in many countries, while Pooleno is unregulated.

Binance’s transaction fee structure is a competitive Maker/Taker model, starting at 0.1% for spot trading, with discounts for BNB holders. Pooleno uses a variable spread. Crypto deposits at Binance are free, but crypto withdrawal fees vary by network. Pooleno charges no direct deposit/withdrawal fees (except network fees). Crypto withdrawal times at Binance are typically instant to 2-3 hours, while Pooleno’s are unspecified.

For security, Binance has a Secure Asset Fund for Users (SAFU), Proof of Reserves (PoR), mandatory KYC/AML, 2FA, withdrawal whitelisting, and anti-phishing measures. Pooleno also offers multi-layered security, 2FA, and authentication. However, the most critical factor for Iranian users is Binance’s lack of service for Iranians, making Pooleno an essential option despite differences in features and regulation.

Comparison with Coinbase

Coinbase, one of the largest and most reputable U.S. exchanges, is known for its user-friendly interface suitable for beginners. It supports over 240 cryptocurrencies, slightly more than Pooleno. Coinbase is regulated in the U.S. (by SEC and FINRA) and operates in over 100 countries, while Pooleno is unregulated.

Coinbase’s fee structure can be complex, with Maker/Taker fees (0.05% to 0.60%), fixed fees for smaller amounts, and spreads for simple buy/sell. Fiat deposits (ACH) are free, but fiat withdrawals (Wire) cost $25, and crypto withdrawals incur network fees. Pooleno has no direct deposit/withdrawal fees (except network). Cash withdrawals at Coinbase are instant, but bank withdrawals take 1-5 business days. Pooleno’s withdrawal times are unspecified.

For security, Coinbase stores most assets in cold wallets, has insured online wallets, and uses 2FA and multi-signature authentication. However, Coinbase does not serve Iranian users, making Pooleno the primary accessible option for Iranians despite its lack of regulation.

Comparison with Kraken

Kraken is appealing to professional traders and arbitrageurs globally due to its low fees and high currency variety. It supports over 450 cryptocurrencies, far more than Pooleno. Kraken operates in over 190 countries and holds multiple licenses (FinCEN, FCA, FINTRAC, ASIC), while Pooleno is unregulated.

Kraken’s transaction fees are highly competitive (Maker 0.00%-0.25%, Taker 0.10%-0.40%), while Pooleno uses a variable spread. Fiat and crypto deposits at Kraken are typically free, but fiat withdrawals cost 0.10 to $35, and crypto withdrawals vary by currency. Pooleno has no direct deposit/withdrawal fees (except network). Crypto withdrawals at Kraken take around 2 hours, and bank withdrawals take 2-5 business days. Pooleno’s withdrawal times are unspecified.

For security, Kraken emphasizes high security with 2FA, Global Settings Lock (GSL), and withdrawal whitelisting. However, Kraken explicitly does not serve Iranian users and has faced fines for sanctions violations. This restriction makes Kraken inaccessible, leaving Pooleno as the only practical option for Iranians.

Comparison with Gemini

Gemini, another exchange emphasizing security and regulatory compliance, is regulated by NYDFS. It supports around 70 to 150 cryptocurrencies, comparable to Pooleno’s 150-200 currencies.

Gemini’s transaction fees are relatively higher (0.03% to 3.49% depending on payment method and platform), while Pooleno uses a variable spread. Fiat deposits (ACH, Wire) at Gemini are free, but USD Wire withdrawals cost $25, and crypto withdrawals have dynamic network fees. Pooleno has no direct deposit/withdrawal fees (except network). Bank withdrawals at Gemini take up to 5 business days, while Pooleno’s are unspecified.

For security, Gemini emphasizes high security with 2FA, hardware security keys, and address whitelisting. However, Gemini does not serve Iranian users, forcing Iranians to choose between regulated security (inaccessible) and a domestic platform (with regulatory risks).

Comparison with BitMart

BitMart, an international exchange, is known for its vast currency variety, supporting over 1,700 cryptocurrencies, far exceeding Pooleno’s 150-200 currencies. BitMart operates in over 180 countries and is licensed in the European Economic Area (EEA), while Pooleno is unregulated.

BitMart’s transaction fee structure is tiered (Maker/Taker starting at 0.10%) with discounts for BMX token holders. Pooleno uses a variable spread. Deposits at BitMart are free, but crypto withdrawal fees vary by currency. Pooleno has no direct deposit/withdrawal fees (except network). Crypto withdrawals at BitMart are very fast, taking 5 seconds to 60 minutes, while Pooleno’s are unspecified.

For security, BitMart uses a hybrid hot/cold wallet system and advanced enterprise security features. However, BitMart does not serve Iranian users, making Pooleno the only practical and accessible option.

Conclusion and Recommendations

Pooleno Exchange, as a domestic player in Iran’s cryptocurrency ecosystem, offers features and services that make it a notable option for Iranian users. Its primary strength is unrestricted access for Iranian users, in stark contrast to the policies of most major international exchanges (e.g., Binance, Coinbase, Kraken, Gemini, Crypto.com, BitMart), which do not serve Iranians due to sanctions. This accessibility makes Pooleno a practical necessity for Iranians.

Pooleno also offers advantages such as no direct deposit/withdrawal fees (except network fees), a respectable variety of cryptocurrencies and blockchain networks for a domestic exchange (over 150 currencies and 70 networks), fast listing of trending cryptocurrencies, a user-friendly interface suitable for beginners, and 24/7 Persian-language support.

However, the exchange has significant limitations. The primary weakness is the lack of official regulation, meaning no independent oversight or guarantees for user funds, increasing inherent risks. Additionally, the lack of transparency regarding precise fiat and crypto withdrawal settlement times is a key drawback, especially for arbitrageurs for whom speed is critical. The variable spread transaction fee model may also be less transparent and desirable for professional traders.

Recommendations for Arbitrageurs:

For users pursuing arbitrage strategies, Pooleno can serve as a suitable “leg” or “entry point” for buying cryptocurrencies (due to no deposit fees and currency variety). However, the lack of transparency in withdrawal times and absence of internal arbitrage tools make completing the arbitrage cycle challenging.

To overcome these challenges, it is recommended to use smart arbitrage platforms (e.g., the “Soodjoo” concept of arbitrage bots). These bots can connect to multiple exchanges (including Pooleno, if API integration is possible) and identify and execute arbitrage opportunities with high speed and accuracy. These tools monitor momentary market fluctuations and execute trades in fractions of a second, essential for profiting from small price differences.

General Recommendations:

• Risk Assessment: Users should be aware of the inherent risks due to the lack of regulation and only keep amounts on the exchange they can afford to lose.

• Full Authentication: Completing photo verification (Professional level) is essential to access all features, particularly crypto withdrawals.

• 2FA Activation: Enabling two-factor authentication is strongly recommended to enhance account security.

• Continuous Comparison: Given the dynamic domestic market, continuously comparing Pooleno with other domestic exchanges in terms of fees, speed, and features is essential to find the best option.

Ultimately, Pooleno Exchange is a practical and accessible solution for Iranian users in the cryptocurrency market. Choosing it as the primary exchange depends on the user’s risk tolerance, need for fiat access, and trading strategies.