Remitano Review: P2P Bitcoin Exchange

Description

What is Remitano? Remitano is a peer-to-peer bitcoin exchange platform that allows you to buy and sell bitcoin with other users. It was launched in 2016 and is headquartered in Seychelles. One of the unique features of Remitano is its escrow system, which helps to protect both buyers and sellers in a trade.

How to Use Remitano

To create your account, you can link your Google, Facebook, Apple ID, or email account in a single step. To enjoy all the benefits on the exchange, you need to go through Remitano verification service (KYC – Know Your Customer). Remitano is a KYC exchange with five levels of verification. First, verify your phone number to start buying and withdrawing. Second, complete document verification and take a selfie. Third, verify your bank account for increased limits. Levels four and five are for longtime traders, offering peer certification.

When you open a trade (buy or sell bitcoin with another person), the process involves a number of steps to ensure a secure transaction for both the buyer and the seller.

First, the seller agrees to sell a specific amount of bitcoin to the buyer. Once this agreement has been reached, the specified amount of bitcoin is then held in escrow on the platform. Next, the buyer is required to make payment for the bitcoin through their preferred payment method. Once payment has been made, the buyer then confirms to the seller that the payment has been made by marking the transaction as “Made as paid” in the seller’s account. This confirmation is done with confidence, knowing that the bitcoin from the seller is held securely on the Remitano platform.

Once the seller receives confirmation of payment in their bank account, they then confirm the payment on the Remitano platform by marking the transaction as “I have received the payment”. At this point, the bitcoin held in escrow is then released and transferred to the buyer’s wallet.

In the event that there are any disputes or issues with the trade, both the buyer and the seller can choose to escalate the trade and provide evidence to support their claim. They can also communicate with each other through the Remitano platform to try and resolve any issues. Remitano’s support team will then assess the evidence provided by both parties and make a decision based on the information provided.

How to Withdraw From Remitano

To withdraw funds from Remitano, you will need to log in to your account and click on the “Wallets” tab. From there, you can select bitcoin, enter the amount you want to withdraw, enter the withdrawal address, enter the 2-factor authentication code, and click on the “Withdraw” button. The withdrawal process may take a few minutes to complete. Additionally, you can sell your bitcoin and be paid in your bank account or any other money transfer service.

Remitano Fees

The fee structure of Remitano varies depending on the type of transaction and the country in which the transaction takes place. For example, if you are selling or buying bitcoin on Remitano, the platform charges a trading fee of 1% to the “maker” (the person who posts an advert to buy and sell bitcoin). This means that if you buy bitcoin worth $1000, you will be charged a trading fee of $10.

Apart from the trading fee, Remitano may also charge network fees for transactions that require confirmation on the blockchain. These network fees vary depending on the current state of the network and the transaction volume. Remitano will charge the fee only when the transaction is completed (successful order matching).

Remitano Supported Countries

Remitano supports users from many countries around the world including Australia, Malaysia, Nigeria, Vietnam, Cambodia, Kenya, South Africa, Argentina, Chile, UK and others. To see the list of all supported countries, go to the home page, scroll to the top right corner of the screen there you will see a list of countries, and also you can choose your preferred language.

Is Remitano Legit? Is Remitano Safe?

Remitano, a well-established exchange since 2016, has gained popularity and trust in several countries, including Nigeria, Vietnam, Ghana, Venezuela, India, and Indonesia. Operated by Babylon Solution Incorporated, a registered company in the Seychelles, Remitano is widely regarded as a safe and legitimate platform. It boasts a high rating of 4.7 stars on Trustpilot, based on feedback from over 11,000 users. The platform offers robust security measures, including features like two-factor authentication and escrow protection.

More Information

• Remitano website
• Remitano updates on Twitter
• Remitano reviews on Trustpilot

Reviews of Bitcoin Exchanges