Bit24
Bit24 is a privately held Iranian cryptocurrency exchange, founded in 2019 and based in Tehran, serving Iranian retail and professional traders with spot, margin, OTC, and dual investment products. The platform supports over 1,000 cryptocurrencies across 73 blockchain networks and claims 2,000,000+ registered users.
- Company typePrivate
- Founded2019
- HeadquartersTehran, Iran
- Headcount101–250
- GTM typeB2C
- OfferingSoftware
What Bit24 does
Bit24 (بیت۲۴) is a privately held Iranian cryptocurrency exchange founded in 2019 and headquartered in Tehran. The platform serves Iranian retail traders and investors who are unable to access international exchanges due to sanctions and KYC document restrictions, accepting Iranian identity documents and providing Rial (IRR) on- and off-ramps through integration with Iranian interbank transfer systems (Paya and Satna). The platform claims over 2,000,000 registered users, 1,048 listed cryptocurrencies, and 73 supported blockchain networks—the highest transfer network coverage among Iranian exchanges per the company's own positioning.
Bit24's core platform is built around an order matching engine with cold/hot wallet custody, two-factor authentication (Google Authenticator, SMS, email), a withdrawal whitelist (Safe Withdrawal), and a "smart" KYC identity verification system designed for rapid onboarding. The product portfolio includes spot trading with multiple order types (limit, market, stop-loss, OCO, trailing stop), margin/leverage trading up to 50x with isolated margin wallets and hourly funding fees, a Dual Investment structured product offering guaranteed returns, OTC instant trading, Trading Bots, BitGift crypto gift cards, Portfolio P&L tracking, Digital Gold, Pre-Market access for new tokens, and tokenized Global Stocks. Distribution is entirely digital via website and mobile apps (Google Play and Iran's Cafe Bazaar), with 24/7 Persian-language support.
The business model is transaction-fee-driven: maker/taker fees on spot and margin of 0.07% to 0.2% depending on user tier and volume, plus hourly funding fees on margin borrows and built-in spreads on the zero-fee OTC market. Go-to-market is product-led growth combined with content marketing (Academy and blog), referral/affiliate programs, and local app store distribution. Customer segments are horizontally segmented into retail traders (primary) and professional traders (secondary), with regulatory authorization for margin trading issued by Iran's Securities and Exchange Organization in 2019. No external funding rounds, institutional investors, or M&A activity are disclosed.
Bit24 firmographics
Firmographics- Name
- Bit24
- Legal name
- Bit24 (بیت۲۴)
- Website
- https://bit24.cash
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Bit24 is a privately held Iranian cryptocurrency exchange, founded in 2019 and based in Tehran, serving Iranian retail and professional traders with spot, margin, OTC, and dual investment products. The platform supports over 1,000 cryptocurrencies across 73 blockchain networks and claims 2,000,000+ registered users.
- Ownership category
- akta.pro rank
Bit24 industry classification
Industry- Product category
- Cryptocurrency Exchange
- NAICS
- Securities and Commodity Exchanges (52321), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- SIC
- Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Spot Crypto Exchanges (Order-Book & Matching Engine) (FSADAAAA)
- akta.pro secondary industries
- On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks (FSADAIAE), Crypto Borrowing & Margin Credit Facilities (FSADAFAC)
Keywords
Where Bit24 is headquartered
LocationHeadquarters
- HQ city
- Tehran
- HQ country
- Iran
- HQ region
- Middle East
Offices1 record
Markets served
Bit24 business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales, Others
Revenue model
- Trading Fees (Maker/Taker): Professional trading (spot and margin) charges maker and taker fees ranging from 0.07% to 0.2% of transaction volume, with lower rates for higher user tiers. This is the primary revenue stream.
- OTC Market: Instant buy/sell OTC market with zero separate trading fee — displayed price is the final price.
- Margin Trading Fees: Margin trading charges both trading fees and hourly funding fees for borrowed assets used in leveraged positions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard/OTC Market |
| Transaction based/ take rate | Pay-as-you-go | Professional Trading (Spot/Margin) |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Bit24 product offering
Product offeringCore offering
Bit24 is an Iranian cryptocurrency exchange where individual users can buy and sell over 1,000 cryptocurrencies with Iranian Rial (IRR) through OTC instant trading, spot markets, and margin trading up to 50x leverage. The platform also offers value-added services including dual investment structured products, digital gold, tokenized global stocks, pre-market trading, BitGift cryptocurrency gift cards, and automated trading bots. It serves Iranian retail and professional traders who cannot use international exchanges due to sanctions and KYC restrictions, by accepting Iranian identity documents and providing Rial on/off ramps via local bank payment systems.
Product overview
Bit24 is an Iranian cryptocurrency exchange platform offering a comprehensive suite of trading and investment services. The core platform provides spot trading with multiple order types (limit, market, stop-loss, OCO, trailing stop) and margin/leverage trading up to 50X through isolated margin wallets. The product portfolio includes value-added services such as Dual Investment (structured locked savings with guaranteed returns), BitGift (cryptocurrency gifting), Trading Bots (automated strategies), Portfolio P&L tracking, Digital Gold, Pre-Market access, and Global Stocks (tokenized equities). Additional services include an affiliate/referral program and an educational Academy. The platform integrates with Iranian banking systems for fiat (IRR) transactions and supports trading of over 1,000 cryptocurrencies across 73 blockchain networks.
Differentiator
Problem solved
Functional benefit
Products and services
- Spot Trading (معاملات اسپات) Core spot trading platform enabling users to buy and sell cryptocurrencies instantly at current market prices with support for limit orders, market orders, stop-loss, take-profit, OCO, and trailing stop orders. Designed for Iranian retail and professional traders using Iranian Rial.
- Margin/Leverage Trading (معاملات اهرمدار) Leveraged trading product allowing users to trade cryptocurrencies with up to 50x leverage. Includes isolated margin wallets, margin ratio monitoring, automatic liquidation at 10% margin ratio, and hourly funding fees for borrowed assets. Targeted at experienced Iranian traders seeking advanced trading tools.
- OTC Trading (خرید و فروش آنی) Over-the-counter instant trading platform for purchasing and selling major cryptocurrencies (BTC, ETH, USDT, XRP, DOGE, XAUT) with Iranian Rial. Provides immediate settlement with zero separate trading fees; the displayed price is the final price.
- Dual Investment (سرمایهگذاری دوگانه) Structured investment product where users lock cryptocurrency for a defined period and receive guaranteed interest. At maturity, settlement occurs in either the deposited asset or target asset based on whether the target price is met, with APR rates displayed upfront. Designed for Iranian users seeking yield on idle crypto balances.
- BitGift (بیتگیفت) Cryptocurrency gift card service allowing users to gift digital currencies to others on special occasions. Recipients can claim the gifted cryptocurrency through the platform. Targeted at Iranian consumers for personal gifting use cases.
- Digital Gold (خرید طلای دیجیتال) Digital gold trading service allowing users to purchase gold-backed tokens and digital gold assets on the platform with Iranian Rial. Geared at Iranian users seeking exposure to gold as a store of value.
- Pre-Market (بازار پیشعرضه) Pre-market trading service for new cryptocurrency listings before they become available on the main spot market. Designed for Iranian traders seeking early access to newly listed tokens.
- Global Stocks (سهامهای جهانی) Tokenized global stocks and world equities trading service, including xStocks that allow users to trade tokenized representations of global company shares. Targeted at Iranian users seeking exposure to international equity markets.
- Trading Bots (رباتهای معاملهگر) Automated trading bot services enabling users to set predefined trading strategies that execute automatically based on market conditions. Targeted at active Iranian traders seeking algorithmic execution.
Quantifiable outcome
- Zero successful hacks in years of operation
- +1 more outcomes
Companies that use Bit24
Customer profileSegments2 records
Ideal customer profiles2 records
Bit24 technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature6 records
Bit24 partnerships and signals
Strategic signalScale indicators7 records
Recent moves5 records
Expansion highlights5 records
Bit24 competitors and assessment
Company assessmentBroad incumbents
- OKX: Global cryptocurrency exchange offering spot, margin, derivatives, and structured products. Comparable to Bit24 across the product suite (margin, dual investment-style products, bots), though at materially larger global scale and not Iran-focused.
- Binance: World's largest cryptocurrency exchange by volume. Historical competitor to Bit24 in the Iranian market (Binance has previously served Iranian users and faced related OFAC exposure), and a broad incumbent against which Bit24's product breadth is benchmarked.
Direct peers
- Nobitex: The largest Iranian cryptocurrency exchange, offering spot, Rial on/off ramps, and a growing product suite. Direct competitor to Bit24 in the same Iranian-domestic, Rial-settled retail spot and OTC market.
- Bitpin: Iranian cryptocurrency exchange providing spot trading and Rial settlement. Operates in the same Iranian retail crypto market with comparable offerings to Bit24.
- Tabdeal: Iranian cryptocurrency exchange providing spot and advanced trading features. Competes directly with Bit24 for Iranian retail and professional traders.
- Exir: Iranian cryptocurrency exchange offering spot trading and tokenized asset services. Direct competitor to Bit24 for Iranian users seeking Rial-based crypto trading.
- Wallex: Iranian-domestic cryptocurrency exchange offering spot trading and Rial deposit/withdrawal services. Direct competitor to Bit24 for Iranian retail traders seeking Rial-crypto ramps.
Regional players
- CoinMENA: Bahrain-regulated cryptocurrency exchange serving retail and institutional clients in the MENA region. Comparable to Bit24 in serving a regional, non-Western market with locally compliant infrastructure, though with materially different fee capacity and product mix.
- BitOasis: MENA-focused cryptocurrency exchange headquartered in the UAE offering spot, broker, and custody services. Comparable to Bit24 as a regional exchange focused on a single market with regulated-local-market constraints, though operating in a different jurisdiction.
- Rain: Bahrain-based cryptocurrency exchange licensed by the Central Bank of Bahrain offering spot and custody services. Comparable to Bit24 as a regionally focused, compliance-first exchange in the Middle East, though operating from a different regulatory jurisdiction.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks7 records
Key highlights7 records
Customer concentration
Bit24 social profiles
Digital presenceBit24 compliance and trust
Trust signalCompliance1 record
Bit24 financial estimates
Financial estimateRevenue estimate
Valuation estimate
Bit24 leadership team
Management profileNumber of profiles
Bit24 funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Bit24 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Bit24
What does Bit24 do?
Bit24 is an Iranian cryptocurrency exchange where individual users can buy and sell over 1,000 cryptocurrencies with Iranian Rial (IRR) through OTC instant trading, spot markets, and margin trading up to 50x leverage. The platform also offers value-added services including dual investment structured products, digital gold, tokenized global stocks, pre-market trading, BitGift cryptocurrency gift cards, and automated trading bots. It serves Iranian retail and professional traders who cannot use international exchanges due to sanctions and KYC restrictions, by accepting Iranian identity documents and providing Rial on/off ramps via local bank payment systems.
Is Bit24 a public or private company?
Bit24 is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Bit24 founded?
Bit24 was founded in 2019. It employs 101 to 250 people.
Where is Bit24 based?
Bit24 is headquartered in Tehran, Iran, in the Middle East region.
How does Bit24 make money?
Three revenue lines are on record. Trading Fees (Maker/Taker) is the primary driver. The others are OTC Market and margin Trading Fees.
Who are Bit24's main competitors?
Broad incumbents on record are OKX and Binance. Direct peers are Nobitex, Bitpin, Tabdeal, Exir and Wallex. Regional players are CoinMENA, BitOasis and Rain.
Does Bit24 have an API?
Yes. Bit24 provides API management functionality for users through its dashboard. Users can access API management at https://bit24.cash/dashboard/api-management/ to manage their API keys and integrations. Developer documentation is at bit24.cash/dashboard/api-management.
What industry is Bit24 in?
Bit24's product category is Cryptocurrency Exchange. Its primary akta.pro industry code is FSADAAAA, Spot Crypto Exchanges (Order-Book & Matching Engine), with a secondary code of FSADAIAE, On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks. Its NAICS code is 52321 and its SIC code is 6200.