In the 5^th generation (5G) and 6^th generation (6G) of wireless mobile telecommunication networks, the requests for an elevated data rate with access to stationary as well as portable customers are going to be overwhelming. Mobile worldwide interoperability for microwave access (WiMAX) comes out as a favourable alternative that is intelligibly developed and more matured than wireless fidelity (Wi‐Fi). Mobile WiMAX makes use of the orthogonal frequency division multiple access (OFDMA) technology for its two‐way communication to enhance the system performance in fading environments making it more suitable for 5G applications. The diverse OFDM forms deliberated here are the fast Fourier transform‐ (FFT‐) based WiMAX and discrete wavelet transform‐ (DWT‐) based WiMAX. The suggested study exhibits the bit error rate (BER) and peak to average power ratio (PAPR) reduction by integrating different wavelet families, i.e., Haar, symlet, coiflet, and reverse biorthogonal over Rayleigh fading channel. The simulation results obtained by MATLAB depicts an improvement in PAPR reduction, and signal to noise ratio (SNR) requirement is also reduced by 6‐12 dB by using DWT‐incorporated WiMAX at a BER of 10^-4.