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REMITANO Review 2020

REMITANOReview

Remitano is an online peer-to-peer escrowed marketplace that facilitates the buying and selling of cryptocurrencies. The cryptocurrency trading platform is designed to support the buying and selling of cryptocurrencies with both fiat and cryptocurrencies.

The platform allows users to connect with other cryptocurrency buyers and sellers in order to transact in a secure environment.

As an online crypto-exchange platform, Remitano has a global reach, servicing clients across more than 30 countries. Remitano is also one of the largest cryptocurrency exchanges in Malaysia, Nigeria, and Vietnam.

While Remitano has reach across more than 30 countries, it is worth noting, however, that counterparty numbers can vary significantly by geography. In some geographies, counterparties could be as few as just a few, while in the thousands elsewhere.

Countries that Remitano’s platform supports include Cambodia, Ghana, India, Kenya, Malaysia, Nigeria, Pakistan, Singapore, South Africa, Tanzania, and Vietnam.

The platform supports the most popular cryptocurrencies that include, but are not limited to, Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple’s XRP, and Tether.

Remitano accepts payments by bank transfer and in cryptocurrencies.

Fiat currencies supported by Remitano include, but are not limited to:

AED, ARS, AUD, BDT, BND, BOB, BRL, CAD, DOP, CHF, XOF, XAF, CNY, DKK, EUR, DZD, GBP, GHS, IDR, ILS, INR, JPY, KES, KRW, NZD, NOK, and more.

Remitano was founded in 2016 by Babylon Solutions Limited and is incorporated and headquartered in Seychelles.

Key attributes of the Remitano platform, which can be described as an all-in-one crypto exchange platform, include:

  • Facilitates the instantaneous purchase of altcoins
  • Supports the deposit of funds in both crypto and fiat currencies.
  • Crypto-exchanges are made via an intermediary escrow platform, providing additional security.
  • 24-7 customer support.
  • User-friendly.

Contents

Referral Program

Remitano also offers a referral program.

You can instantly earn 0.01BTC (approx. 3,200 THB) for every one of your friends who joins Remitano.

Conditions include:

  • Complete a total of trades trade of at least 2BTC. (Both buying and selling are counted).
  • In a single trade, if both the buyer and seller were referred, the trading volume being used to calculate commission is halved for both sides.
  • Where a visitor clicked on multiple referral links, only the last referral link is considered the valid link.
  • Each account holder is given an individual referral URL.

Within the affiliate page, referrers are able to view current referral lists as well as create banners to draw in new investors (as shown above).

(Do note that accounts that are identified by the Remitano internal systems as clones of other accounts will not qualify.)

The Pros and Cons

Pros

  • Global Access: Buyers and sellers are able to access the Remitano platform across a wide range of geographies.
  • Diverse Range: Remitano supports the most frequently traded cryptocurrencies.
  • Wallets: Buyers, sellers, and cryptocurrency holders do not face the risk of being hacked as they are able to withdraw cryptocurrencies to hold in owner wallets.
  • Highly Liquid Vietnamese Market: For buyers and sellers based in Vietnam or that have a bank account in Vietnam, market prices are the most competitive. This is due to the immense popularity of Remitano in Vietnam.
  • Credit Card Purchases: Cryptocurrencies can be purchased by credit card, via the Simplex exchange that is integrated into the Remitano platform.
  • The Remitano Forum: Allows investors to share ideas and discuss the cryptomarket.
  • 24/7 Customer Support:

Other positives include:

  • Mobile Compatible: Remitano is compatible with mobile devices and can be downloaded from the App Store and Google Play.
  • Supports a large number of fiat currencies: Buyers can purchase cryptocurrencies in more than 26 different fiat currencies.
  • Counterparty Ratings: Buyers and sellers are not only reviewed but are also given a rating. This enables both buyers and sellers to reduce the risk of being scammed.
  • Crypto and fiat currency withdrawals: Remitano supports the withdrawal of both crypto and fiat currency, unlike many platforms.
  • Wholesale Platform: Via the wholesale platform, trading fees are fixed at 0.1%.

Cons

  • Low Liquidity: In some geographies, there are few buyers and sellers that can lead to cryptocurrencies with a wider spread from the market price.
  • Price Variance: Prices can vary from market price, thus requiring both buyers and sellers to have some knowledge of the market environment.
  • Unregulated: Investors can be a victim to scams, though this risk is reduced through the review and rating system and the Escrow Platform.

While unregulated, a KYC process is in place for investors looking to trade, deposit, and withdraw. Documents are verified within a matter of minutes.

Brokerage Services, Supported Cryptocurrencies & Payment Methods

Remitano provides a crypto trading platform to facilitate the secure exchange of cryptocurrencies for crypto and fiat currencies.

Investors and Traders who already own cryptocurrencies supported by Remitano may also transfer these to the compatible cryptocurrency wallets provided by Remitano.

Account Opening

To open an account, go to Remitano, enter your email address and click ‘Continue’.

(Do note that you are also able to sign in with either Google or Facebook)

You will then receive an email link to allow you to log onto the Remitano platform. Open the email and click ‘Log me in Remitano. (Do note that the link expires in 15 minutes and may only be used once).

(Check your spam folder if the email is not located in your inbox)

Enter your user name and click continue

Review all terms of service and confirm that you have read and agreed.

Upon confirmation, you are then directed to the Remitano dashboard

At this stage, you will now need to make a deposit to begin trading and take advantage of the Remitano platform offerings.

Click ‘Get Started’ in the center of your dashboard, which will take you to the Altcoin Coin List.

Here, cryptocurrency buyers can instantaneously purchase from the list of cryptocurrencies on offer. These include:

Binance Coin, Cardano’s ADA, EOS, Stellar’s Lumen, and Tron’s TRX.

Click Invest and enter the amount of selected cryptocurrency you wish to purchase, in this case, EOS. You will be given a Tether USDT equivalent once you enter the amount of crypto.

(Note that there is a 1% fee for stopping the investment that will be charged once the position is profit)

Click ‘Open Investment’ located at the bottom right of the window and confirm the purchase.

You will then be directed to a summary page that also includes deposit instructions.

Here you can either copy and paste the wallet address or use the QR code in order to transfer the USDT to complete the purchase.

Please note that there is a 30-minute time limit to complete the transaction.

Upon Completion of 1st Transaction

Once you have completed the transaction, you are able to view a summary of your awaiting investments, open investments and closed investments.

Go to the Dashboard dropdown menu and select ‘Investments’ to view the summary.

Existing Cryptocurrency Holders

If you already own cryptocurrencies that are supported by Remitano, you can simply select the cryptocurrency wallet of the crypto that you would like to deposit, go to the Dashboard dropdown menu and select Wallets.

The list of supported wallets can be located on the left-hand side of the Wallets interface.

Select the cryptocurrency wallet that you wish to deposit and click Deposit. Simply copy and paste the wallet address or use the QR code and make a cryptocurrency transfer from your external wallet to your Remitano Wallet.

Note: The fee for depositing Bitcoin Cash is 0.00010000 Bitcoin Cash. Fees do vary depending upon cryptocurrency. Please refer to the Fees section for a breakdown of deposit fees by cryptocurrency.

With your Remitano Wallet now funded, you are ready to exchange, invest, swap and withdraw at any time.

The Details

Remitano offers the buying, selling and swapping of cryptocurrencies.

Cryptocurrencies current supported by Remitano for buying and selling include:

Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Tether (USDT).

Additionally, Remitano also supports Binance Coin (BNB), Cardano (ADA), EOS, Stellar’s Lumen (XLM), and Tron (TRX for swapping.

Swapping allows investors to deposit supported cryptocurrencies into the respective Remitano wallets and instantaneously swap for either Bitcoin, Ethereum, or Tether USDT. There is a 0.25% swapping fee and market volatility may lead to a change in actual amounts.

To swap, go to the Wallets page located under the Dashboard dropdown menu and select the cryptocurrency you wish to swap.

Enter the amount and click Swap.

Investors are also able to buy and sell cryptocurrencies on Remitano’s investment platform and P2P Exchange.

P2P Exchange

The P2P Exchange that allows buyers and sellers to trade with other Remitano investors.

Investors looking to purchase a cryptocurrency can create a buying ad.

  • Step 1: Go to the P2P Exchange and scroll down to the bottom of the page.
  • Step 2: Select Create Your Buying Ad

Here you have the option to create a basic or a detailed ad.

  • Step 3: Enter the details and amend as required and then complete the payment information section, and click create. (The current prices of the cryptocurrency is shown on the right-hand side of the page).

Note that the amount you are able to advertise must be aligned with your verification level.

(For a Detailed ad, buyers are able to select the reference exchange and control the maximum cryptocurrency price and limit details).

For investors looking to sell:

  • Step 1: Go to the P2P Exchange page.
  • Step 2: Select Creating Your Own Selling Ad.

Again, there are options for both Basic or Detailed ads. For a Detailed ad, sellers can include limits, amend the exchange used as a reference and the minimum cryptocurrency price.

  • Step 3: Enter the details, which include selling price and bank account details.

Investment Platform

Investors are able to buy cryptocurrencies supported by Remitano by going to the Investment section of the website or app.

Simply select the cryptocurrency that you wish to purchase by selecting ‘Invest’. Enter the amount you wish to purchase and click ‘Open Investment’.

Credit Card Purchases

Remitano clients are also able to purchase Bitcoin by credit card.

In order to purchase by credit card, go to the P2P Exchange page and scroll down.

Under the “You want to buy Bitcoin?’ caption, select buy and enter the amount of BTC you wish to purchase and click ‘Buy Now’.

Verify the information and click ‘Buy Now’, which will take you to the Simplex checkout page.

Enter your payment details and click ‘Pay Now’.

Upon completion of the purchase, your Remitano Bitcoin wallet will be funded with the Bitcoins purchased.

Fees and Charges

Fees will vary, depending on the chosen method of purchase of cryptocurrencies.

There are also fees incurred for swapping cryptocurrencies and for depositing and withdrawing cryptocurrencies.

Trading Fees:

The price which is displayed in the advertisement already includes the trading fee, which is calculated at 1% of the price advertised.

For Sellers:

If you advertise or offer to sell 1BTC at US$7,000, your receiving price is US$7,000. The displayed price in the ad is US$7,000 + 1%, equivalent to US$7,070.

For Buyers:

If you advertise or offer to buy 1BTC at US$7,000, then your actual paying price is US$7,000 and you will receive 1BTC – 1%. The actual amount paid is US$7,000 and the 1% fee is incurred once in profit.

Wholsale:

Wholesale trading fees are flat at at a flat rate of 0.1%.

Swaps:

Fees for Swapping cryptocurrencies are 0.25% of value swapped.

Deposits:

Fees for the deposit of cryptocurrencies are as below:

Withdrawal: Fees for the withdrawal of cryptocurrencies are as summarised below:

Please note the minimum requirements to withdraw and deposit coins:

Remitano Wallets

Remitano currently supports both fiat and cryptocurrency wallets.

Fiat Wallets supported by Remitano are currently limited to Vietnamese Dong and Nigerian Naira.

On the Remitano platform, fiat currency wallets enable a trade to automatically complete once sufficient funds are deposited. This removes the need for a seller to verify receipt of funds within his or her account.

Where the exchange wallets are not used, the seller will need to confirm receipt of funds before the escrow platform releases the cryptocurrencies to the buyer.

Cryptocurrency wallets currently supported by Remitano, include:

Tether, Bitcoin, Bitcoin Cash, Ethereum, and Litecoin. These wallets support deposits, withdrawals and swapping of cryptocurrencies.

Wallets are also available for Binance Coin, Cardano’s ADA, EOS, Stellar’s Lumen, and Tron’s TRX. Do note, however, that wallets for these cryptocurrencies only permit a swap into an altcoin.

There is an added feature for each of the wallets. From the dropdown box located on the right-hand side of the wallet options, investors are able to view:

  • Deposit history
  • Withdrawal history
  • Transaction history.

Deposit & Withdrawal Options

For investors and traders looking to deposit or withdraw funds from Remitano, deposits and withdrawals are currently restricted to supported cryptocurrencies and the Vietnamese Dong and Nigerian Naira.

When opening an account, Remitano provides investors with wallets for the supported crypto and fiat currencies.

Investors looking to deposit or withdraw either Vietnamese Dong or Nigerian Naira are required to have a bank account in the respective countries.

In order to benefit from higher limits for the buying, selling, depositing and withdrawing of funds, there is a KYC process in place.

Limits are tiered based upon KYC Completeness and can be summarised as follows:

Level 1: Phone Number Verification:

  • Purchase up to US$500 daily
  • Deposit up to US$1,560.5885 into a fiat wallet daily.
  • Withdraw US$250 worth of coin daily.

Level 2: Documents Verification:

  • Purchase up to US$50,000 daily
  • Deposit up to US$234,088.274 into a fiat wallet daily.
  • Withdraw US$1,000 worth of coin daily.

Level 3: Bank Verification:

  • Purchase up to US$100,000 daily
  • Deposit up to US$468,176.55 into a fiat wallet daily.
  • Withdraw US$2,500 worth of coin daily.

Level 4: Peer Certification:

  • Purchase up to US$1,000,000 daily
  • Deposit up to US$31,211,770 into a fiat wallet daily.
  • Withdraw US$500,000 worth of coin daily.

In order to complete Level 1 Verification, go to your user name dropdown box and select ‘Verification Process’. Then click ‘Verify’.

Enter your telephone number and click ‘continue’. Upon the receipt of the verification code, enter the code Verification Code and click ‘Verify’.

Once you have completed Level 1 Verification, you are able to proceed to Level 2 and so on.

Deposits

Buyers have the option to either deposit crypto or fiat currency in order to purchase cryptocurrencies on the Remitano exchange.

In order to deposit fiat money, depositors currently have the option to, either deposit Vietnamese Dong or Nigerian Naira.

Note that depositors must have an account in Vietnam or Nigeria to deposit the respective fiat currencies.

For demonstration purposes, in order to deposit Bitcoin, go to the Dashboard dropdown and select Wallets.

Select the Bitcoin Wallet on the left-hand-side and click on ‘Deposit’.

Copy and Paste the wallet address to your external Bitcoin Wallet holding previously purchased Bitcoins and transfer. Alternatively, you can use the QR code.

Avoid manually entering the wallet address to prevent the risk of entering incorrect information that will lead to the loss of the Bitcoins being transferred.

Once the deposit is complete, the balance will be reflected in the Bitcoin Wallet.

Withdrawals

For withdrawals, traders and investors are able to withdraw cryptocurrencies by transferring out from your Remitano wallet to another compatible wallet.

Investors are also able to withdraw fiat currency, with the Vietnamese Dong and Nigerian Naira currently supported.

In order to make a withdrawal, select the appropriate wallet by going select Wallets under the Dashboard dropdown menu.

In the case of withdrawing Ethereum, select your Ethereum wallet located on the left-hand side and click ‘withdraw’.

Enter the Ethereum address to which you wish to send Ethereum and the amount and click ‘submit’.

Key features of the Remitano platform

Advertising: Buyers and sellers are able to create adverts to purchase and sell cryptocurrencies.

Affiliate Program: Remitano users can earn Bitcoin through the referral program n by inviting their friends to join Remitan.

Dashboard: Displays a detailed summary of the investor’s current portfolio value, pending trade orders, and historical data of deposits, withdrawals, and transactions performed. The Dashboard also gives a summary of an investor’s buying and selling ads.

Escrow Platform: Reduces the risk of fraud, with cryptocurrencies held in escrow until funds sent or received between traders are verified.

Investment Summary: A more detailed summary of investments is provided within the Investments page located in the Dashboard dropdown menu. The breakdown includes open investments, awaiting investments, and closed investments.

Invest: Investors are able to purchase cryptocurrencies by opening an investment on the Invest platform.

Mobile Platform: Mobile trading is also supported, with Remitano available to download from the App Store and Google Play.

P2P Exchange: Links buyers and sellers in order to buy and sell supported cryptocurrencies.

Wallets: Remitano provides supported crypto and fiat currency wallets free of charge upon opening an account.

Privacy and Security

Escrow: Cryptocurrency purchases and sales are carried out with the use of escrow that holds the funds while counterparties trade.

  • The seller will transfer their cryptocurrencies directly from their wallet to the Remitano escrow platform instead of directly to the buyer.
  • The buyer can then remit funds agreed to purchase the cryptocurrencies to the seller.
  • Upon receipt of funds, as confirmed by the seller, the Remitano escrow platform releases the cryptocurrencies, as per the exchange agreement, to the buyer.
  • A support team is available in the event of disputes.

Verification: All Remitano users must go throughcomplete a verification process. The process will at least reduce or dis-incentivize scammers…is aimed to significantly reduce incidences of scams.

Transparency: The platform allows buyers and sellers to review a profile before trading. Profiles include feedback from other buyers and sellers who may have transacted with a particular counterparty. In addition to reviews and feedback, buyers and sellers are also able to score each other on the platform. Remitano removes people proven to be scammers from the platform.

2-Factor Authentication (2FA): An essential additional security. Remitano users need to use Google’s Android or iPhone app to add a one-time password (“TOTP”) Two Factor Authentication confirmation each time you log in or request a withdrawal.

As a general rule, we recommend that:

  • Trade with counterparties who have established themselves and have a solid rating and positive feedback.
  • Ensure that you enable 2-FA.
  • Keep cryptocurrencies within personal wallets and not on the exchange platform to avoid the risk of theft.

Customer Support

Remitano provides 24/7 customer support.

Help: There is a Live Chat option as well as an FAQ section that provides users with the necessary support.

Email: Users are also able to send emails directly to the support team using the team@remitano.com email address.

Social Media: Remitano has a strong and active social media presence.

Social media channels include Facebook, LinkedIn, Twitter and, YouTube. While users can find tutorials, members are also able to contact Remitano via the various media platforms.

Facebook: https://www.facebook.com/remitano

Twitter: https://twitter.com/remitano

LinkedIn: https://www.linkedin.com/company/remitano

YouTube: https://www.youtube.com/channel/UCgKoFPtHOXD77lLQMsGFlWg

FAQ

Some of the more frequently asked questions about Remitano include:

What is Remitano?

Remitano is a product of Babylon Solutions Limited – incorporated in Seychelles. It provides an escrowed P2P Bitcoin market place where people buy and sell Bitcoin easily and safely.

What is the minimum withdrawal for XRP?

The minimum withdrawal for XRP is 1XRP, however, you may receive an error stating that coin must be greater than or equal to 20XRP.

Can I trade with my phone or tablet?

Users can download the Remitano trading platform from the App Store and Google Play.

Conclusion

Remitano is a particularly user-friendly cryptocurrency trading platform catering forto both novice and the more experienced investors.

Supporting the most popular cryptocurrencies, Remitano’s strong market presence and large client base makes the P2P Exchange an attractive platform to buy and sell cryptocurrencies.

With mobile compatible platforms also on offer and a particularly simple registration process, Remitano’s client base is likely to continue to expand.

In Remitano’s key markets, which include Malaysia, Nigeria, and Vietnam, a particularlyhighly liquid and active market enablinges the rapid execution of trades.

REMITANOUser Reviews

Rate this exchange
  • 4
    Doronize
    Henry
  • 5
    Its Good
    Adnan
Read More REMITANO User Reviews

REMITANOFeatures

Coins Available
  • Bitcoin
  • Bitcoin Cash
  • Ethereum
  • Litecoin
Accepted Countries
  • United Arab Emirates
  • Argentina
  • Australia
  • Brunei
  • Bolivia
  • Brazil
  • Belarus
  • Canada
  • Congo
  • Cote d'Ivoire
  • Cameroon
  • Denmark
  • United Kingdom
  • Ghana
  • Indonesia
  • Israel
  • India
  • Iran
  • Italy
  • South Korea
  • Myanmar
  • Mexico
  • Malaysia
  • Japan
  • Kenya
  • Spain
  • Colombia
  • Algeria
  • Switzerland
  • Cambodia
  • China
  • Laos
  • Namibia
  • Nigeria
  • Netherlands
  • Norway
  • Nepal
  • New Zealand
  • Oman
  • Peru
  • Philippines
  • Pakistan
  • Poland
  • Portugal
  • Qatar
  • Russian Federation
  • Sweden
  • Singapore
  • Turkey
  • Taiwan
  • Tanzania
  • Ukraine
  • Uganda
  • Vietnam
  • South Africa
  • Zambia
  • Zimbabwe
  • Thailand
US Accepted
Yes

Payment Method

Deposit Options
Wire Transfer, cash, cryptocurrency
Withdrawal Options
Wire Transfer, cash, cryptocurrency
Company Information
Exchange DetailsInfo
Headquarters CountrySeychelles
Foundation Year2016
Typeexchange
Trading AllowedYes
Contact Information

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