Why BTC rates in Iran is so high

[Neverlost]

my title is the question and I am wondering if i can sell bitcoin to the people in Iran via Local Bitcoin . If not , please give me a reason

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[dothebeats]

Perhaps you might be one of the victims of a fake news spreading from a website that didn't took the time to validate and check sources. Doing a quick search, the rate of 1 bitcoin on Iran is 110,000,000 rial at its peak, or if converted to USD, about $2400 more or less which is very far from the reported value. Also do keep in mind that the Iranian rial is falling hard against the dollar as we speak, so any recorded value on Exir's website might have been affected by the rapid change of valuation of the Iranian rial against the dollar.

[Neverlost]

thanks for the infomation sir , so why dont by BTC from Iran by Usd,its cheaper

[Xenrise]

Include the rates of Iran's BTC rates. It is probably a scam if you're talking about the high btc rates. Don't fall for that.

[RodeoX]

Obviously Iran has major currency problems at the moment. With a fiat falling that fast bitcoin must seem fantastic.

However selling to the people of Iran may get you a lengthy prison sentence. The sanctions you hear a lot about apply to you as well. U.S . citizens and U.N. member nations may not do business with Iran. Not saying it's a great idea, but it is a law that is enforced. 

[matthewoz101]

my title is the question and I am wondering if i can sell bitcoin to the people in Iran via Local Bitcoin . If not , please give me a reason

It's simple. The value of fiat is going down so many find Bitcoin to be a smart investment. It may be a smarter investment than holding the fiat. The more rial value, the more valuable BTC becomes when trading aginst rial.

[lokas0506]

As a lot of people were wondering why bitcoin is traded around 30 % more on Korean exchanges at some point …

[Atrom_84]

The price of bitcoin in fluctuating every time. This is the reason behind increasing the price of bitcoin in Iran. In addition, the price of 1 dollar = 42105.00 Iranian Rial. So, according to this, the price of bitcoin is high in Iran.

[cryptogideon19]

I think you should know if the news is real or not. And if the price in Iran is too high then just look on market it's real or not. And iran is not a special country that BTC is too high enough for them I think it's not real just read news for better.

[ZazaG7]

The cost of bitcoin in fluctuating without fail. This is the purpose for expanding the cost of bitcoin in Iran. Moreover, the cost of 1 dollar = 42105.00 Iranian Rial. In this way, as indicated by this, the cost of bitcoin is high in Iran.

[figmentofmyass]

my title is the question and I am wondering if i can sell bitcoin to the people in Iran via Local Bitcoin . If not , please give me a reason

what country are you in? in the USA and several other countries, doing business with iranians is prohibited due to the ongoing economic sanctions. and the penalties for violating sanctions are very steep: fines up to $1 million and up to 20 years in prison for each violation. i would avoid getting involved with this if i were you.

it also seems like there is indeed a premium for BTC in iran, but it's much smaller than originally reported.

[Pursuer]

It is true that the price of bitcoin in Iran is so high. I think the reason behind this problem is the inflation in Iran. Many unreliable websites are also showing the fakes news about Iran.

it is because it's enough for one news site (specially the bigger ones like bitcoin.com) to publish something for it to go viral among the other news sites. they just copy the contents, change the words (some don't even change anything!) and publish it as a new one.
in some cases I have even seen they add additional wrong information to the original wrong news and publish it just to make it look more interesting and make people "click" on their links as click baits go.

[BarnabyETH]

If you have checked from the legit sources, the rate is the same as dollars. If you use the exchange rate coversion, it is the same. Only the figures are high because of the exchange rates.

[gantez]

If you have checked from the legit sources, the rate is the same as dollars. If you use the exchange rate coversion, it is the same. Only the figures are high because of the exchange rates.

I think this is one of the reasons. The equivalent would be the same in dollar exchange.

Then another significant issue is when a country's economy is dwindling, it affects its currency which is same as devaluation. When that happens to a country's fiat, you will need more of the devalued currency to exchange in the market. I think that is why it is looking as if bitcoin is high there.

[MegaDots]

I didn’t get the question you have asked relating your comments below. Anyway the price of Bitcoin in Iran is so high because the market there is not available much and some days ago crypto actually was banned

[Fersec]

The recognition of the Iranian government of mining cryptographic currencies as a legitimate industry pushed Bitcoin bidding to record a high when the country built its own national crypto currency to avoid international sanctions.

Iran Cyberspace (HCC) Supreme Council has confirmed that the government now sees cryptographic mining like Bitcoin as a legitimate industry. HCC Secretary Abolhassan Firouzabadi stressed that the authorities would "state the framework and policy" for companies and startup companies in the currency sector that were not clear before the end of this month. In particular, senior government officials demonstrated the same basic approach among several government agencies including the Ministry of Communication and Information Technology, Industry, Mining and Trade, Energy and the Ministry of Economy had agreed that crypto mining "had been accepted as an industry."

Following state recognition of crypto mining, trading activity on the Iranian crypto exchange increased sharply, making the price of Bitcoin reach a record high of $ 24.00 more than 3 times the global average price.

[geminiboy]

my title is the question and I am wondering if i can sell bitcoin to the people in Iran via Local Bitcoin . If not , please give me a reason

btc value depends on where they live, because btc is exchanged with the value of the US dollar, in any country with a high US dollar value the price of btc will be very high if exchanged for their money, you must understand that friend

[MidnightNugget]

I didn't know anything about that news yet , that is very good news to hear if price of bitcoin is high somewhere then it definitely will fall positive impact on all over the place so pray for the best to happen

[easycoin995]

there been many mix concepts are available about this topic, some are acepting it in a good way and some are claiming it as a scam so we should wait until we don't get any confirmation

[crypto-bit456]

I am really surprised that I have get any updates about such stuff big news, if it actually happens then it is a very good news for the market but if it's a scam then it can fall bad impact over the market so I would request everyone to not get influence by any fake news