NIGERIA BITCOIN COMMUNITY

Remitano Review (2022 Update) – The Complete Review & Comparison

This post is the most complete Remitano review online. I wrote it from years of experience in using Remitano.

Remitano started as a bitcoin Peer-to-Peer marketplace where buyers and sellers can trade directly with each other through a safe system called an escrow.

Remitano has now grown to include other services and the trade of more cryptocurrencies. It is the exchange with the largest bitcoin trade volume in Nigeria.

In this review, I will walk you through the platform, its services, and how to trade safely on Remitano.

I have also included a demonstration video which you will find very interesting because it comes with trading tips.

If you are ready, let’s dive in.


Remitano Review Overview

I have laid out this review in a simple, concise, and easy-to-understand format that even a 10-year old can follow along.

I will be discussing Remitano under the following sub-headings.

  1. Company Overview
  2. Remitano Features
  3. Remitano Services
  4. Currencies & Payment methods
  5. Supported countries
  6. Transaction Fees
  7. Remitano’s Transaction Limits & Verification Requirements
  8. Customer Support & User review
  9. Getting Started on Remitano
  10. How To Trade Safely on Remitano
  11. LocalBitcoins Vs Remitano
  12. Paxful Vs Remitano
  13. Coincola Vs Remitano
  14. Frequently asked Questions
  15. Conclusion – Is Remitano Legit?

You can click on any of the subheadings above to take you directly to that section.


1. Company Overview

remitano overview

Remitano is owned by Babylon Solutions Limited which was incorporated in Seychelles.

It was launched in April of 2016 as a P2P bitcoin exchange but later expanded to include more currencies and other services which I will explain later in the post.

Remitano categorizes traders based on the bank they use and their country. This is to ensure the swiftness of transactions between traders.

This and the 24/7 customer support via live chat makes Remitano stand out amongst other P2P exchange.

Nigeria is Remitano’s biggest market with about $600,000 daily trade volume.

For this reason, Remitano Nigeria is the second most search query on google with regards to Remitano.

Also read: 10 best bitcoin exchanges in Nigeria

Moreover, it launched its native token – RENEC in the middle of 2021 to improve users’ experience. Wow!

Learn more about the RENEC token here – RENEC Review | How To Get The Remitano Network Coin

P2P exchanges are made possible by the escrow system. The 59 seconds video below shows how the escrow system works.

Having seen the overview of Remitano, the next subheading will be talking about the features of this platform.

Scroll down.


2. Remitano Features

  • Games
  • API
  • Live chat
  • Multiple currencies
  • Blog
  • Mobile app
  • Referral
  • Region specific interface
  • Wallet
  • Forum
  • Affiliate program
  • Etc.

Moving on, I discussed the services offered by Remitano.

Read on!

Now you know the features, let’s look at its services.

Visit Remitano


3. Remitano Services

Remitano offers the following services:

  • Buy & Sell
  • Swing
  • Swap
  • Liquidity

Buy & Sell

This is the P2P exchange, where users trade the supported currencies with their local currencies, and directly with each other.

You’ll find it at the top menu on the homepage.

Also, you’ll find a list of buyers and sellers on the homepage that you can choose from.

Swing

Here, Remitano allows users to invest in certain coins to make a profit when they appreciate value.

The investments are made with USDT and profits generated are paid in USDT too.

Note that you are not buying the coin but investing and profiting from its price movement.

Here is how it works:

Let’s say I invest $100 in EOS coin, and in 24 hours, EOS appreciates in value by 10%, my investment will now be worth $110.

On the other hand, if EOS depreciates by 10%, my investment becomes $90.

Additionally, my investment will remain open indefinitely until I close it.

So, if I close my investment at 10% appreciation, $110 will be sent to my USDT wallet.

Cool, right?

Swap

With this feature, users can instantly swap one cryptocurrency for another.

For example, you can swap BTC for USDT.

You’ll find Swap at the top menu on the homepage.

Liquidity

Here, users earn passive income when they add liquidity to the available pools.

This income is generated from the fee earned by Remitano on Swap transactions arising from the pools.

You can check here for the available pools and how much you stand to gain.

These are the services Remitano offers, now let’s look at the payment method and supported cryptos.

Read on!


4. Supported Currencies and Payment methods

Currencies

Remitano provides wallets for the following coins:

  • Local currencies
  • Remitano Network Coin (RENEC)
  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Ripple (XRP)
  • Tether (USDT)
  • Binance Coin (BNB)
  • Solana (SOL)

However, the Swap feature supports more coins including:

  • TRON
  • EOS
  • Cardano (ADA)
  • Stellar (XLM)
  • Tezos (XTZ)
  • ChainLink (LINK)
  • Monero (XRM)
  • Ethereum Classic (ETC)
  • NEO
  • Polkadot (DOT)
  • Dogecoin (DOGE)
  • Uniswap (UNI)
  • Avalanche (AVAX)
  • Terra (LUNA)

Then on Remitano Liquidity, some of the available pools are:

  • ADA/USDT
  • AVAX/USDT
  • BCH/USDT
  • BNB/USDT
  • BTC/USDT
  • DOGE/USDT
  • DOT/USDT
  • ETC/USDT
  • ETH/USDT
  • LINK/USDT, etc.

Payment Methods

These are fiat currencies used to purchase cryptocurrencies on the P2P exchange.

The currency used for payment solely depends on your country. Traders in Nigeria will use Naira, those in Ghana Cedis, Europe Euro, etc.

Note that Remitano does not provide wallets for Fiat currencies. Sellers receive fiat payment directly into their bank account from buyers.

That said, let’s look at the supported countries.


5. Supported Countries

Remitano currently supports more than 58 countries:

  1. Algeria
  2. Argentina
  3. Australia
  4. Bangladesh
  5. Belarus
  6. Bolivia
  7. Brazil
  8. Brunei
  9. Cambodia
  10. Canada
  11. Ivory Coast
  12. China
  13. Colombia
  14. Denmark
  15. DR Congo
  16. European Union
  17. Ghana
  18. Indonesia
  19. Israel
  20. Portugal
  1. India
  2. Iran
  3. Italy
  4. Japan
  5. Kenya
  6. Mexico
  7. Malaysia
  8. Myanmar
  9. Namibia
  10. Nigeria
  11. Netherlands
  12. Nepal
  13. Norway
  14. New Zealand
  15. Oman
  16. Peru
  17. Philippines
  18. Pakistan
  19. Poland
  20. Qatar
  1. Russia
  2. Rwanda
  3. Singapore
  4. Spain
  5. Sweden
  6. Taiwan
  7. Tanzania
  8. Thailand
  9. Turkey
  10. UAE
  11. Uganda
  12. Ukraine
  13. United Kingdom
  14. United States
  15. Vietnam
  16. Venezuela
  17. South Africa
  18. South Korea
  19. Zambia
  20. Zimbabwe

6. Transaction Fees

These are fees incurable when using Remitano:

Remitano accepts fiat payments from supported countries.

In other words, users buy coins on the P2P exchange using their local currencies.

Transaction Fees

Trading

1% of the price set in the advertisement.

Note that the displayed prices already include the trading fee.

Swap fees

0.25%

(It is deducted from the estimated value when you open a SWAP order)

Swing

  • 1% ………………when you close an investment in profit
  • 0% ………………when you close at a loss

Deposit and Withdrawal Fee

CurrencyDeposit FeeWithdrawal Fee
BTC00.0005
ETH00.005
USDT (TRC20)
USDT (ERC20)
USDT (BEP20)
01
35
1
BCH00.001
LTC0.00050.001
XRP00.25
BNB00.0005
SOL00.01

(These fees are not fixed. They can vary depending on the state of the blockchain networks)

Also, no fees are charged for deposit/withdrawal of fiat.


7. Remitano’s Transaction Limits & Verification Requirements

Limits

For his first trade, a buyer can only buy a maximum of 2 BTC. The limit is removed when he completes his first trade.

However, advertisers set limits for the amount of the trade. And buyers cannot exceed the limit.

As for the minimum trading amount, it is set at 0.02 BTC.

If you want to know the minimum amount of crypto that you can withdraw or deposit, please check here.

When it comes to depositing or withdrawing fiat, the higher your verification level, the higher your limits.

Check out the verification levels below:

Verification Requirements

LevelRequirements
Level 1Phone number
Level 2Identity Documents
Level 3Bank verification
Level 4Peer certification or Longtime Trader
Level 5Peer certification + Longtime Trader

Keep reading.


8. Customer Support and User Review

Customer Support

Remitano has 24 hours customer support via live chat.

I tried it and I got the response I needed in a few minutes. Cool!

Also, users can send their queries via email to [email protected]

Additionally, Remitano has a Forum where users can read crypto news and participate in group discussions.

Plus, users can stay updated via the following channels:

  • https://www.facebook.com/remitano
  • https://twitter.com/remitano
  • https://www.linkedin.com/company/remitano
  • https://www.instagram.com/remitano
  • https://www.youtube.com/remitano
  • https://t.me/RemitanoNews

Public Opinion

I check Remitano on Trust Pilot and it had an excellent rating with close to 7,000 reviews. Impressive!

The majority of the reviews were positive. I didn’t even find a negative review on the first page.

This shows that the Remitano customer support is doing a great job because most P2P exchanges get a poor rating.

As I said earlier, you don’t buy and sell bitcoin from or to Remitano. Rather, you trade with other traders under a safe system called an escrow.

The escrow is designed to ensure your safety when trading but then, some persons still lose their funds.

This is not because the escrow failed, but because of their mistake.

I will now walk you through how to trade safely on Remitano.


9. Getting Started on Remitano

i. First, you need to register. Go to Remitano.com and click on ‘Login/Register’ from the top right corner.

remitano homepage

ii. Select your preferred option for registration

remitano sign up

iii. Enter your email address and click on the link sent to your inbox

iv. Next you enter a username

v. Then you accept the terms and conditions

remitano terms of service

vi. Voila! You’re in. Go ahead and explore the services

Looking to trade on Remitano? Here’s an explainer video that will walk you through 👇

Next, I shared useful tips on how to trade safely on Remitano.

Keep reading!


10. How To Trade Safely On Remitano

Over time, many P2P traders have complained of being scammed on different platforms.

To avoid being scammed on Remitano, take note of the following:

  • Before choosing a seller, make sure that he has;
    • completed over 2BTC worth of Trade with a minimum of 30 trades
    • a good feedback score (at least 90% from a minimum of 10 persons).
    • an active account for over 2 months.
    • a verified identity, residence, phone number, Facebook.
    • at least 10 partners.
    • a maximum delivery time that you are comfortable with.
  • Do not;
    • disclose more personal information than necessary.
    • trade outside Remitano with Seller even though he offers you a lower price.
    • send your payment information to a different interface other than Remitano
    • make payments without confirminng the account details
    • transfer money to the seller after the timeout.
  • Do;
    • click ‘I have paid’ only when you have made a payment or you might be denied the trade.
    • wait for your Bitcoin to be released by the Escrow system after making payment.
    • enter dispute after 10mins if the coin is not released to you.

In the next section, I compared Remitano with similar exchanges.

Tag along!

Visit Remitano


11. LocalBitcoins Vs Remitano

Localbitcoins is the first P2P bitcoin exchange. It was founded in 2012 and is available to traders from every country of the world.

It supports over 20 payment methods to buy and sell bitcoins.

Remitano, on the other hand, was founded in 2016 but it is used more in some countries like Nigeria than Localbitcoins.

Remitano has more active customer support. It sorts traders based on their bank. It also supports more cryptos.

Also Read:


12. Paxful Vs Remitano

Paxful is another P2P exchange that was founded in 2015; that makes it a year older than Remitano.

Its most outstanding feature is that it supports over 300 payment methods i.e any payment method you can think of.

It launched its mobile app in August 2019.

However, it supports only three cryptocurrencies while Remitano supports a lot more.

Also Read;


13. Coincola Vs Remitano

Coincola has a P2P exchange as well as a trading platform where traders can trade crypto pairs as is done on Binance, Quidax, Luno, etc.

It was launched in Hongkong and currently has over 1 million users. It supports multiple currencies and payment methods.

Its features make it a strong Remitano contender, however, it has not gathered many traders from this region.

Also Read:

Let’s answer a few questions and then we can call it a wrap.


14. Frequently Asked Questions

Must I verify my account before I can trade?

No.
However, other traders might not want to trade with you as it’s safer to trade with a verified account.
Verification requires uploading
– ID card
– Selfie + ID card
– Date Note + ID card.
Verification is done in the profile section of your dashboard

Can I withdraw my bitcoin to an external wallet after buying?

Yes, you can withdraw your cryptos to an external wallet after buying.

Finally, it’s been a long review. I hope you followed through?

Let’s head over to the conclusion section to wrap this up.


Heads up!!!

If you want to learn how to trade cryptocurrencies profitably, enroll in our Cryptocurrency Mastery Course by going to www.ctmastery.com.
You can also join our Telegram community at https://t.me/ctmastery for more information.

15. Conclusion – Is Remitano Legit or a Scam Exchange?

From the above review, I believe this question is already answered.

Remitano is registered and operated by Babylon Solution Incorporated. You don’t trade with Remitano but with other traders so Remitano cannot scam you.

If you follow the steps I listed above, you are 99.99% immune to fraud on this platform. For additional questions, refer to Remitano Help Center or engage in a live chat.

This brings us to the end of ‘Remitano Review’.

Now it’s your turn.

Do you use Remitano and what are your experiences?

Is there a P2P exchange that you believe is better than Remitano?

Do you have a question about something I wrote in this post?

Or maybe you want to commend this write-up.

Whichever it is, let me know in the comment section.

If you enjoy this post, encourage us to do more by sharing it using the buttons below.

Cheers!

Remitano

0.00
8.2

Reputation

9.0/10

Customer Support

8.0/10

Ease of Use

8.0/10

Security

9.0/10

Transaction fee

7.0/10

Pros

  • Mobile App
  • Ease of Use
  • Active Customer Support
  • Support Multiple Cryptos
  • 24/7 P2P Trading

Cons

  • low trade volume in some supported countries

Follow me

30 thoughts on “Remitano Review (2022 Update) – The Complete Review & Comparison”

  1. Awesome review. I have a LUNO account, registered in South Africa, have now registered REMITANO and got the account verified.
    Question: What is the best payment option, for a buy or sell transaction on REMITANO, from South Africa.

    Reply
  2. @Jude Umeano, you have done a good job. Very simplistic and easy to understand. But you should know that the response time of Customer”s Support on Remitano has greatly improved. Within about 5 minutes, you will get your first reply.

    Reply
  3. Yes. That is why it is a P2P exchange. It provides a safe platform for buyers and a sellers to exchanging fiat money (local currenc) for digital money (cryptocurrencies)

    Reply
  4. Pls what’s the riquirement to open an account with remitano and pls how long does it take for one to sale a crypto on their platform. Thanks

    Reply
    • the requirements are that you need to register and confirm your email address. Once you do that, you can trade. However, some traders will not trade with you if have not verified your ID or address. so I suggest you do that to trade more safely.

      it takes about 10 mins, sometimes more or less depending on how fast the trader is or how fast your bank sends alert.

      Reply
  5. Hello, I’d like to know if I need to verify my identity in order to sell. Is it necessary to get verified before I can sell my cryptos?
    Also do u know if they accept the Nigerian national ID slip because that’s what I have, I don’t have the e-card yet

    Reply
    • You need to verify, most traders would only sell or buy from a verified account. I dont know if they will accept National ID slip. you can try it to see.
      I am sure that quidax will accept your national ID card. also you do not need verification to sell your cryptos on Nairaex, however you need verification to buy.

      Reply
    • You don’t withdraw from remitano. Transactions are instantly done in remitano. You sell bitcoin and receive cash instantly before you confirm transaction. Please explain more so I can put you through

      Reply
      • Yes you have a withdrawal option on Remitano but only when you have btc on your Remitano account and wish to refund/withdraw it back to your wallet. Meanwhile I am currently having an issue where I tried withdrawing back to my wallet but another wallet ID went ahead of withdrew all my money to the last btc… I been emailing and sending messages trying to chat with their customer service but no response from them and trust me right now am being as confused as hell to where this mishap is coming from.

        Reply
        • Hello Thompson.
          I still don’t get you.
          Wallet ID is not used in remitano but in blockchain.info. Unless you mean wallet address. If you have btc in your remitano account, the only place it can be is in your wallet. So I don’t understand how you will have btc in your wallet and want to withdraw it to your wallet.

          If you have btc in your remitano wallet and want to send it to another external wallet. You have to make sure you enter the correct wallet address. If the address is wrong or the address is not a Bitcoin address, you are most likely to lose your bitcoin.

          However, I suggest you email, support to explain all this to them. Make sure you use the correct terms so that they can easily understand what you are saying. State the wallet address you sent the bitcoin to, the date and the amount. Thank you

    • Remitano does not work like luno. You get your cash instantly in your local account. Remitano does not pay into your account but the merchant you sell your crypto to does that instantly

      Reply

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