Internet of Things (IoT) is the idea to connect all devices to the internet. To implement such systems, we need to design low cost and less complex transmitters and make the receiver side complex. Nowadays OFDM is mainly used for communication due to its great advantages. But it faces the main problem such as PAPR due to the non-linear performance of High power amplifiers. There are so many methods are available to reduce the effect of PAPR in OFDM transmission, among this clipping is the simplest one. In this paper, we propose two algorithms to find the clipping level as well as the channel estimation. The efficiency of these algorithms is evaluated by using CLRB calculation.