What is Remitano? | How to buy Bitcoin on Remitano? – MindYourCrypto

Remitano review

Remitano is a peer-to-peer (P2P) marketplace for buying and selling Bitcoin, Tether (USDT) along with some well-known cryptocurrencies such as Ethereum, Ripple, etc. Similar to other P2P cryptocurrency exchanges like LocalBitcoins and Paxful, Remitano aims to bridge the fiat to cryptocurrency gap via its P2P trading services. It allows buyers and sellers to interact directly with each other and buy-sell crypto assets in a secure environment. For more info on Remitano P2P exchange please check out the detailed review below.

Content details

1. Remitano Introduction

2. Pros and Cons

3. Supported Countries

4. Fees and Charges

5. Supported Cryptocurrencies and Payment Methods

6. Safety Measures

7. How to Register an Account with Remitano Exchange?

8. Deposits and Withdrawals

9. How to Buy/Sell Cryptocurrency on Remitano P2P?

10. Remitano Swap

11. Customer Support

12. Remitano Alternatives

13. Final Thoughts

1. Remitano Introduction

source : remitano.com

Founded in 2015, Remitano is a P2P cryptocurrency exchange, that operates under the company Babylon solutions limited. It’s incorporated and headquartered in Seychelles.

According to Remitano, the core team is comprised of banking professionals having years of experience in financial products, payment systems, software development, and other relevant profiles.

Remitano has been there for more than five years and since then it has served more than 1.5 million customers and over 500 million worth of digital currency has been exchanged.

2. Pros and Cons

Similar to any other cryptocurrency exchange, Remitano too has some pros and cons associated with its services.

Pros are;

1). Simple UI

It offers an easy to use trading interface for both pc and mobile devices.

2). Crypto and fiat wallets

source : remitano.com

Contrary to other P2P cryptocurrency exchanges, Remitano offers both types of wallets i.e fiat and crypto, associated with a user’s account for depositing fiat currency as well as cryptocurrency. Presently it supports fiat wallets for the Nigerian market (NGN wallet), Malaysian market ( MYR wallet), Indian market (INR wallet), Venezuelan Wallet (VES Wallet), and Indonesian market (IDR wallet).

3). Fiat currency support

It supports more than 26 fiat currencies buy Bitcoin and other crypto assets.

4). Remitano wholesale

It offers dedicated marketplace for wholesalers, for all transactions of 1.5 BTC and above.

5). Simplex feature

It enables users to buy Bitcoin and other cryptocurrencies using credit and debit cards with the Simplex feature (choose Simplex seller in sellers Ad list).

6). Counterparty ratings

Remitano offers both buyers and sellers to rate each other after the successful completion of every trade. These ratings help new traders to differentiate between genuine traders and scammers.

7). More crypto coins

Being a P2P trading platform, Remitano offers a comparatively large number of crypto assets. Most of the P2P exchanges offer only Bitcoin or sometimes maybe Bitcoin and Ethereum, however in addition to Bitcoin and Ethereum, Remitano also offers some most frequently traded cryptocurrencies.

8). Escrow

Remitano utilizes an escrow facility to safeguard the user funds. As a seller creates a sell advert the trade amount will be held in the escrow and only released when the seller confirms the receipt of funds.

9). And lastly it scores a decent rating score on Trustpilot, Play Store and App Store.

Cons are;

1). Not a truly worldwide exchange

Most of the P2P crypto exchanges operate worldwide. But Remitano offers its services in only 40 or so countries which is quite lower as compared to LocalBitcoins and Paxful.

2). Lacks liquidity

It’s important to note that in some countries Remitano has only a few buyers and sellers. As a result, it lacks liquidity among a particular crypto-fiat pair/pairs in the given region. Further, the low liquidity leads to a wider Bid-Ask spread of a particular cryptocurrency as compared to its prevailing market price.

3). Some of the crypto coins it offers, are not tradable in certain countries

In countries like Vietnam and Malaysia, markets have enough liquidity, and users can trade all the 6 crypto assets without any difficulty. But it’s not the case in other supported countries. In other Remitano supported countries like UK, Canada, Australia, you will find it difficult to trade certain coins because of empty order books without any buy-sell adverts.

3. Supported Countries

Remitano offers P2P trading and wholesale services in 40+  countries around the world. These are;

Zimbabwe

Vietnam

United States

Uganda

Thailand

Tanzania

Taiwan

Sweden

Singapore

Russia

Qatar

Poland

Pakistan

Philippines

Oman

New Zealand

Norway

United Kingdom

Spain

Denmark

Colombia

China

Cote de Voire

Canada

Cambodia

Belarus

Bangladesh

Australia

Nigeria

Namibia

Malaysia

Mexico

Kenya

Japan

Italy

India

Israel

Indonesia

Ghana

Bolvia

Brasil

Cameroon

South Africa

4. Fees and Charges

Below are  the different types of fees charged by Remitano:

Trading fees:

The trading fee is calculated as 1% of the price set in the advertisement. Thus the price displayed in advertisements to viewers already includes fees.

Wholesale:

The wholesale trading fees are flat at at a flat rate of 0.1%.

Swaps:

The fees for Swapping cryptocurrencies is charged at 0.25% of value swapped.

5. Supported Cryptocurrencies and Payment Methods

Supported cryptocurrencies

Remitano is the only peer-to-peer crypto trading platform that supports multiple crypto coins (Altcoins). It supports Bitcoin, Ethereum, Tether, Litecoin, Bitcoin Cash, and Ripple.

Supported payment methods

Remitano supports buying and selling of Bitcoin and other crypto coins using fiat currency of all the supported countries on its P2P platform.

It allows users to make payments through direct bank transfers, via credit and debit cards using Simplex and third-party payment apps in respected countries. You can choose your preferred payment method while shortlisting a buyer or seller.

Apart from that users can also buy one cryptocurrency with another crypto that’s supported by Remitano.

6. Safety Measures

Remitano has various safety measures in place to safeguard user funds and avoid fraudulent activities. It has a reputation system that shows the trading history of each trader to expose scammers and making the trader selection process easier for new traders. Some other safety measures practiced by Remitano are;

1). It allows its users to set 2FA as an additional layer of security to prevent unauthorized access to their accounts.

2). It has researched and implemented fraud detection filters to detect and prevent as much as fraudulent activities.

3). Escrow facility is another security practice that Remitano uses to facilitate safe trading on its platform. When a trade is initiated, the specified amount of Bitcoins or other crypto assets are transferred from the seller’s account and held locked on Remitano’s escrow. The locked funds will be transferred only after a seller confirms the payment from the respective buyer.

7. How to Register an Account with Remitano Exchange?

Similar to any other cryptocurrency exchange, before starting with Remitano, a user needs to register an account.

It provides a password-less login technique, in which the user gets a secured login link via email, instead of the traditional password login method. Thus in the case of Remitano, users only need to secure the password of their email-id instead of securing passwords of any other account.

Below is step-by-step process, on how to register an account;

1). To register an account, click “Login/Register“.

2). Enter your “Email” in the space provided and click “Continue”.

source : remitano.com

3). It will send an email to your mail account. Click ” Log me in Remitano” and it will take you to the next step.

4). In next step you need to provide a unique username and then click “Continue”.

Now the registration process is complete and you can start trading. However, there are certain tier-based limits on buying and selling, which can be removed by submitting a user’s KYC details.

8. Deposits and Withdrawals

Remitano supports both fiat and cryptocurrency wallets and allows its users to deposit and withdraw in fiat as well as for cryptocurrencies. To visit the wallet section, click “Dashboard” and then click “Wallets” from the dropdown menu.

source : remitano.com

Fiat deposits and withdrawals

Presently Remitano only supports fiat wallets for the Nigeria market (NGN wallet), Malaysian wallet ( MYR wallet), Indian market (INR wallet), Venezuelan Wallet (VES Wallet), and Indonesian market (IDR wallet)

All the users from the above-stated countries can deposit and withdraw fiat currencies accordingly. They can also use their fiat wallet funds to buy Bitcoins and other crypto coins instantly.

In order to make a fiat deposit or withdrawal, visit the wallet section from the dashboard. Now click on “Deposit” or “Withdraw” (accordingly), and follow the instructions to complete the transaction from your fiat wallet.

source : remitano.com

Cryptocurrency deposits and withdrawals on Remitano P2P.

Remitano supports 6 cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, Tether, Litecoin, and Ripple. It also provides users with wallets for all the six cryptocurrencies, which users can use to deposit, withdraw, and instant crypto to crypto swaps.

For making a deposit or withdrawal request or a cryptocurrency swap you have to visit the wallet section from the dashboard. The wallet section will display the supported crypto wallets where you can choose the crypto wallet and make the transaction as per your need.

source : remitano.com

9. How to Buy/Sell Cryptocurrency on Remitano P2P?

Having some basic understanding of wallet functioning and related aspects, you’re now ready to make trades with your verified account. You can access Remitano P2P via the web or Android/iOS application.

As you login into your Remitano account, it will display the price of Bitcoin in your local fiat currency by default. Now you can choose either to buy/sell crypto from/to the existing adverts in the order book or you can create a fresh buy/sell advert according to your specific needs. Let’s see how it works;

Let’s assume you want to buy/sell Bitcoins, for example (similarly you can buy/sell other crypto coins too).

Buy/sell Bitcoins from Existing Adverts

1). From the home page, scroll down to find a seller from “List of Sellers” (if you want to buy) or to find a buyer from “List of Buyers” (if you want to sell).

source : remitano.com

2). Click on the buyer/seller advert that suits your criteria.

3). Now, enter the amount of your selected coin, i.e Bitcoin (here), and click the buy/sell tab to open the transaction.

source : remitano.com

Note: “Amount limits” is the minimum and maximum limit that the Ad creator wants to trade. You can only trade within this limit.

4). If you are buying Bitcoins, copy the payment details of the seller. Access your online banking and pay the seller via instant transfer.

OR

If you are selling Bitcoins, enter your payment details for the buyer to pay and click “Continue”

5). If you are buying Bitcoins, after making payment click “I have paid seller” after payment success and wait for the seller to confirm. Never cancel the trade after making the payment because the trade can’t be reverted at this step.

OR

If you selling Bitcoins, the number of Bitcoins equivalent to your trade shall be transferred to the escrow and will be released only after you confirm the receipt of funds. Always confirm the payment only after checking your bank account.

This is how you can buy/sell Bitcoins or any other cryptocurrency on Remitano from existing adverts.

Creating a fresh buy/sell advert on Remitano P2P.

1). From home page, below the buy/sell adverts list, click on “Create Your Buying Ad” for buying Bitcoins.

source : remitano.com

OR

Click on “Create Your Selling Ad” for selling Bitcoins.

source ; remitano.com

2). It will take you to the next page where you have to furnish the trade details.

source : remitano.com

3). Here you can choose between a Basic or Detailed advert type.

4). Next click on, I want to “Buy Bitcoins” or “Sell Bitcoins” accordingly.

5). There is an option to change coin, but for now we have selected Bitcoin.

6). The next column displays the live price of your selected cryptocurrency and you also have to provide your Max. price (if you are buying) and Min. price range (if you are selling) for your coin. Here you can also change the reference exchange.

7). In next column you can set certain limitations regarding Bitcoin amount, buyer/seller verification level and country.

source : remitano.com

8). In the final step, you have to select the payment methods. For example, if you are buying Bitcoins, you have to provide information regarding how you would make a fiat payment.

OR

If you are selling, you have to furnish your account details, bank name etc.

source : remitano.com

9). Now select the time for payment window and click on “Create”.

By following the above process you can easily create a buy/sell advert on Remitano P2P.

Note:

Remitano also supports fiat wallets for some currencies. Hence you can also use the fiat wallet payment method (if supported) to make instant trades.

10. Remitano Swap

Apart from offering regular fiat-to-crypto trading, Remitano also offers instant crypto-to-crypto swaps. The Swap feature allows users to exchange between pairs of cryptocurrencies such as BTC/USDT, ETH/USDT, etc. Below are the  instructions to make an instant swap;

1). Log in to your account and click on DASHBOARD then choose WALLETS.

2). Choose the coin that you want to swap and click on “Swap” from your wallet.

3). Next, choose the coin you want to receive for.

4). Enter the amount of the coins you want to swap and click on SWAP button.

5). Finally, click on “Confirm”, and your Swap order will be processed almost instantly. You can check the swapped coin balance in your respective wallet.

11. Customer Support

Remitano provides 24/7 customer support. There is a Live Chat option as well as an FAQ section that provides users with the necessary support as and when needed. Users can also reach out support by sending emails directly to the support team using the team@remitano.com email address.

Apart from the above-mentioned support solutions, it has a strong and active social media presence, which includes Facebook, Linked In, Twitter, and, YouTube.

12. Remitano Alternatives

The first Remitano alternative on my list is LocalBitcoins, an excellent P2P Bitcoin marketplace that is headquartered in Helsinki, Finland. It supports more countries and payment methods as compared to Remitano. Visit LocalBitcoins Read LocalBitcoins Review


The second alternative that I would like to suggest is, Paxful, an excellent P2P exchange that is based in the USA. In terms of supported countries and payment methods, Paxful has an upper hand over Remitano.

However, Remitano offers more cryptocurrencies, greater customer support, and higher security than both of the above discussed P2P platforms.

13. Final Thoughts

Remitano is an excellent P2P cryptocurrency trading platform without any doubt. If you are looking to buy Bitcoins and some other popular cryptocurrencies with fiat currency, then you can definitely go for Remitano P2P. It offers trading in multiple cryptocurrencies and instant crypto-to-crypto swaps.

Because of its quality customer support, great security, and additional services such as Instant swaps, wholesale trading, fiat wallets, etc., it has scored a quite high rating score on various rating platforms. However, in terms of supported countries, it lags far behind other P2P exchanges.

Remitano is suitable for all types of users. Transactions are made fast and easy and coins are held in escrow until the payment is confirmed. Their live chat feature is a great addition to the platform. The support team is also quick to respond and helpful.

This is what, I have personally noticed while using this P2P exchange. I have also discussed some great alternatives to this platform. Hence, do some research and choose one that suits you the most!

If you found this post informative and useful, please do share it with your friends and people around you and spread the word. Also don’t forget to share your experience, if you have already used/using this platform.

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