Glossary

Spread

The gap between the price the exchange buys at and the price it sells at. At Sarafi Iranian, that gap is the trading fee.

Quote

A firm price for a stated amount, valid for a short time. Confirm within that time and the price does not change.

Limit order

An order that fills only at the price you set, or better.

Recurring buy

An automatic purchase of a fixed amount at regular intervals, say weekly, so you do not have to worry about timing.

Tether (USDT)

A cryptocurrency whose price is tied to the US dollar. It is issued on several networks.

Network (TRC20, ERC20, BEP20)

The blockchain Tether moves on: Tron, Ethereum and BNB Smart Chain. Each has its own addresses and fees, and a transfer sent on the wrong one does not arrive.

Confirmations

How many blocks have been added since a transaction. The more there are, the less likely it is to be reversed. A deposit is credited once it has enough.

Transaction hash

The string that identifies a transaction on a blockchain; with it, anyone can look the transaction up in the network's explorer.

Escrow

The exchange holding the seller's asset during a peer-to-peer trade, so that neither side can take the asset without keeping its promise.

Identity verification (KYC)

Checking that an account's owner is who they say they are. The law requires it, and it stops accounts being misused.

Shahkar

The registry that matches a mobile number's owner to a national ID.

Toman and rial

One toman is ten rials. Prices at Sarafi Iranian are shown in tomans, the way the market says them.

Remittance (havaleh)

Sending money to another country through a trusted counterpart there, without physically moving cash.

Gold bullion by the gram

Pure gold bought and sold by weight, unlike jewellery, which carries a making charge.

Emami coin

The new-design Bahar Azadi gold coin, whose price depends on supply and demand for the coin as well as on its gold.

Two-step sign-in

Signing in with your password plus a code your phone generates, so a password alone is not enough to get in.