- 1 Introduction (what is Remitano exactly)
- 2 Remitano Review: Is Remitano a scam or profitable Cryptocurrency
- 3 Remitano: How secure and safe the app is?
- 4 Remitano Review: Transaction fee, processing time, Payment method
- 5 How to Buy Bitcoin and Etherum on Remitano
- 6 Final words
Introduction (what is Remitano exactly)
Wondering to sell bitcoins? If yes, then, you must have a glance at the content here, its all about Remitano Review. Now, a million dollar question which arises is what is Remitano?
Well, here comes your answer. Remitano is an online platform with the help of which users buy or sell Ethereum or Bitcoin among themselves for fiat currencies.
Initially, there is no need for any government ID for verification. But, as one proceeds to execute a transaction, government ID is required. When it comes to verification, the platform recommends a government ID. Also, it is very easy to create a Remitano account.
More than a cryptocurrency exchange platform, Remitano is decentralized remittance platform.
Remitano Review: Is Remitano a scam or profitable Cryptocurrency
Remitano is a platform which began its operations in 2016 as a cryptocurrency exchange program.
The company is supported in many countries like South Africa, Zimbabwe, Vietnam, United States, Uganda, Thailand, Tanzania, Taiwan, Sweden, Singapore, Russia, Qatar, Poland, Philippines, Oman, New Zealand, Norway, United Kingdom, Spain, Denmark, Columbia, China, etc.
For buying and selling amounts, Remitano has no limitations. Wire transfer and cash deposits are the two methods for buying and selling.
Remitano Review based on Parameters
Review of the app depends on the following parameters:
- Trading Platforms
- Trade Types/Instruments
- Account Types
- Commissions and Spreads
- Customer Support
Remitano provides a platform where holders of these cryptocurrencies can trade with each other. Remitano holds buyers’ funds in escrow, then allows sellers to list their crypto assets for sale. When a seller completes the transfer of the altcoin or Bitcoin to the buyer’s wallet, Remitano places this in an escrow wallet, thus locking them. The buyer then transfers the agreed exchange amount in fiat currency to the seller’s account, and takes a transaction fee for the service provided, then remits the locked coins to the buyer.
So far, apart from a few minor cases of attempted scams by sellers (which were detected and dealt with by the Remitano team), Remitano has proven to be a reliable exchange. Peer-to-peer direct transactions between two parties are one of the topmost methods of cryptocurrency trading, and by providing a safe environment for buyers and sellers to transact, Remitano has brought some reliability and transparency to the exchange ecosystem.
Remitano has in place some security features to improve the reliability of its platform.
A 2-factor authentication process for initiating transactions.
The escrow system
The seller reputation metrics system which provides a lot of information that a buyer can use in assessing the authenticity of a seller.
Feedback scoring system
A full KYC process where sellers are identified by their government ID documents.
Login protection using an email verification system.
Trade timeouts after a period of inactivity, which requires the parties to begin the process again and identify themselves.
Remitano features two platforms on which its service is run.
There is a web-based platform which enables buyers and sellers to connect with each other. The web-based platform features the trading interface which lists sellers as well as their reputation metrics.
Remitano offers users the opportunity to buy or sell the following cryptocurrency assets in exchange for fiat currency:
- Bitcoin (BTC)
- Ether (ETH)
- Tether (USDT)
- Bitcoin Cash (BCH)
The trades are strictly on a buy or sell basis. The sellers list the prices at which they will sell their crypto assets. Buyers have the liberty of scrolling through the list of sellers and the prices at which they will sell their crypto assets and make their trade decisions accordingly.
Three account types exist on Remitano. These are:
Commissions and Spreads
The fee structure on Remitano is very simple. The company takes a 1% transaction charge on all transactions done between buyers and sellers, as payment for its escrow service. This fee also covers the Bitcoin transaction cost paid to miners. The fee is taken upfront when the listing is done.
Here are the customer support channels on Remitano.
- Email: firstname.lastname@example.org
- Live Chat
- Twitter: twitter.com/.remitano
- Facebook: www.facebook.com/remitano.escrow
- Online support ticket
Remitano: How secure and safe the app is?
The next most important thing which strikes our mind is safety.
Now, let us know how secure and safe the app is?
Bitcoin community, Facebook and Reddit have multiple opinions about Bitcointalk. When it comes to customer support and efficiency of the platform, there is always a positive feedback. As a peer-to-peer currency exchange platform, Remitano provides a secure trading environment and connects Bitcoin traders from different parts of the world.
Keep your coins safe!
When it comes to safety, no platform can be better than Remitano. The most impressive thing about the app is that the trading history of each trader is displayed to expose frauds, all thanks to the app’s reputation system.
The buyer can only receive Bitcoin from Escrow after confirmation of the payment. The Escrow service is meant for protection. The service protects both, buyer and seller from the fraud.
Remitano also has a factor authentication system. This is to prevent unauthorized access to a user’s account. For the prevention of unauthorized access, it also has a Login guard in form of email verification.
When it comes to speed, there is rarely any other platform which can compete Remitano. The app ensures that all the transactions are completed on time and guarantees a timely response to customer questions.
Remitano Review: Transaction fee, processing time, Payment method
Transaction fee charges on Remitano
There is a 1% transaction fee charged on Remitano. This Transaction fee is already included in the listing so you do not need to pay a separate 1% additional fee when you buy bitcoin. Also, you are not charged the standard Bitcoin Transaction fee, it is taken from the initial 1% fee.
When you buy Bitcoin on Remitano, it is highly recommended that you don’t leave your Bitcoin in the wallet provided by Remitano, instead move it to your own secure Bitcoin wallet.
Selection of seller
Sellers and buyers are filtered based on the IP you are browsing from. You are only shown buyers and sellers from the country whose IP you are browsing from. However, you can choose a country from the ‘country’ drop-down tab at the top menu.
Five sellers are shown per page starting from the seller with the lowest price. “DO NOT BUY FROM A SELLER BASE ON PRICE”. It is better to pay more in other to conduct a transaction with a more reputable seller. The first thing is to go through the seller’s transaction history to see how well he did in the past.
Choose your Seller based on the following qualification (you will have to click on seller’s name to see qualification):
- He has completed over 2BTC worth of Trade with a minimum of 30 trades.
- His feedback score should be at least 98% from a minimum of 10 persons.
- His account should have been active for over 2 months.
- He has a verified identity, residence, phone number, Facebook.
- Has at least 10 partners.
- He has a maximum delivery time you are comfortable with.
Communication with the seller
When you log into your Remitano workspace, you simply hit the buy/sell bitcoin button. Here you have the option of selling or buying after that you chose the merchant with the highest offer according to a bank of your choice.
Note that before you trade, either buying or selling make sure you are only opened to verified buyers or verified sellers. Verified buyers or sellers are people whose details have been verified by remittance. Their identity has been reviewed and accepted. When trading with verified merchants you stand a better chance of not being scammed or cheated.
How to Buy Bitcoin and Etherum on Remitano
Generally, Remitano, or rather, its users, work mostly with bank transfers and cash deposits. Depending on the country, there are also options for electronic payment platforms through local systems, such as Alipay and Wechat in China. The most preferred options, however, are bank transfers and cash deposits, available in all countries where Remitano operates.
Since this is an escrowed Bitcoin exchange, the processing time varies depending on buyers/sellers. One can often transfer money online via a bank account, so a transaction is completed within a few minutes, as soon as a seller/buyer confirms the payment. The bitcoin is locked by Remitano during the period. There is no fraud on this website at all. In case there is a dispute, both sides will need to provide evidence to prove if they have received/sent the payment.
So, it was all about the best bitcoin exchanging platform, i.e., Remitano. We tried our best to discuss each and every minute detail about the app with you. All the necessary parameters like communication, safety, transaction, processing time, etc, have been discussed here. Still, if you have any doubts or queries, feel free to contact us or if you know anything else about the app, definitely share with us. We will be glad to have a two-way conversation.
Hope the content must have helped you.