Bitpin Overview
Bitpin is a local crypto platform from Iran that went live in 2020. It’s built mainly for IRR pairs, not trying to play in the global big leagues. But for traders inside Iran, it’s carved out a clear niche.
Fee structure & deposit flows
Bitpin uses a tier model. Small volume trades start near 0.3%, dropping to 0.06% if you push heavy size. For BTC or USDT, rates hover at 0.05% maker and 0.1% taker. Rial deposits come free, while IRR withdrawals charge around 0.02% per thousand dollars. They also lock first deposits for up to 72 hours, so timing matters.
Security basics & KYC layers
They try to show strong on security - combining 2FA, cold wallets and layered KYC. Five personal tiers plus a corporate level exist. As you climb, you unlock higher limits and a few fee perks. Standard checks apply: ID uploads, phone verifications and sometimes utility bills.
Trading pairs & local liquidity
Bitpin lists over 60 pairs, almost all tied to the Rial. Expect BTC, ETH, BNB, TRX, TON and the usual lineup. You won’t see this exchange on global liquidity trackers, meaning spreads get wide and big trades might slip. Still, for local users, it’s enough to pivot in and out of IRR.
Mobile app & support quality
The app has over 100k downloads with roughly four stars. People like fast price boards and gift card features with no extra fees. But there are bugs. Many say it freezes. Support comes by live chat, tickets and phone - often quick, though some still get stuck on long withdrawal waits.
What users really think
Feedback splits clean. App stores praise stability and trades that just work. Others bash bugs or awkward flows. Trustpilot shows a handful of reviews - mostly solid fours - but sample size is tiny. Bottom line, it handles local needs but may annoy those expecting global-level shine.
Quick pros & cons
- Pros: Tiered fees down to 0.06%, local IRR focus, gift card send-outs, decent app ratings.
- Cons: Only serious for Iran, no global liquidity, buggy app moments, support sometimes slow on big issues.
Conclusion - fits IRR traders best
If you want to swap crypto against the Rial, keep costs low and don’t mind a few tech quirks, Bitpin is solid for Iran. Anyone outside, or chasing thick books, fast derivatives or global reach will likely skip it. It’s a regional tool - strong in its lane, not built to scale worldwide.