Want a cryptocurrency exchange platform that not only caters for developed countries but also emerging markets, Remitano is one of them. Owned and operated Seychelles-based firm, Babylon Solutions Ltd, it caters for the growing demand for Bitcoin in markets across South America, South East Asia, Africa, and the Middle East.
Remitano is a decentralised trading platform that allows peer-to-peer trades for small fees. What makes it unique is that it holds funds in escrow until transactions between a buyer and a seller have been finalised. Currently, it facilitates the buying and selling of Bitcoin, Bitcoin Cash, Ethereum, Ripple, Litecoin, and Tether.
But first is Remitano safe, and can it be trusted? Well, the online crypto communities have a different opinion about it, but the company has received positive reviews over the years that it has been in operation. When it comes to reliability, Remitano has established reputation metrics as well as a rating system for those who wish to trade with others.
Remitano has two platforms, a web-based platform and a mobile app. However, this article provides a comprehensive guide to using Remitano’s web-based platform.
Step By Step on How to Buy and Sell on Remitano
NB: We’ll be using Bitcoin as an example since it’s the most common and widely used crypto.
On the homepage, there is a catalogue box containing available coins, select ‘Bitcoin’ then click on buy/sell. Enter the amount of you want to buy or sell, and it will calculate the amount to pay/receive.
Alternatively, you can scroll down on the homepage to a market listing of sellers as well as buyers; it also lets you create your buying/selling advertisement.
Step 2: Payment Confirmation
Once a trade has been initiated, payments are required to be made through the details provided by the seller.
Remitano offers a payment window of 15 minutes in which the full payments are to be done.
Once this is done, the assets already in escrow will be debited into the relevant wallet only after the buyer has clicked “I have paid Seller,” and the seller has confirmed the payment.
After the payment is made, and the buyer has confirmed the funds will be moved from escrow the buyers account in three minutes.
After the coins are released, they will appear in the ‘Balance’ option as shown below.
NB: It is advisable to use the same method since it’s fast, instant, and less costly.
Rate the Seller
This is the last step of trading and it involves rating the seller.
With the basic steps above, the process of buying bitcoins on Remitano is complete and the same is followed when one has a cryptocurrency and they wish to sell it on the platform.
How to Deposit/Withdraw
Remitano offers wire transfers of fiat currencies as well as in cryptocurrencies.
To see this option follow the steps as shown below:
The next page that appears is cryptocurrencies with the deposit and withdrawal options. On the same page, you can obtain the history for the transactions you have made on the individual cryptocurrency.
Remitano charges deposits and withdrawals as follows:
BTC: 0.0002 BTC
BCH: 0.0001 BCH
ETH: 0.005 ETH
USDT: 5 USDT
Other features offered by Remitano include Altcoin Investment as well as Swap cryptos for other cryptos.
How to use Altcoin Invest in Remitano
Step 1: Click ‘Invest’ in the Menu Bar
This will open a window with a list of Altcoins available for investing.
Step 2: Select the Altcoin you want to invest in
Remitano currently offers some five options to choose from. For instance, can choose Binance Coin, then click on invest. Enter your desired amount, then click Open Investment.
After investing the final step is to keep an eye on it. The value of the investment is live-updated as long as the investment is open. Once closed the proceeds from the investment will be credited to your Remitano wallet in USDT. They will sell the amount of Altcoin to USDT for you at the current new market price.
It worth mentioning that after opening an investment, you can’t withdraw since it’s an open position. They do not have a minimum amount to invest; however, in the beta phase, they have set a maximum limit of $50,000 to ensure system safety.
This is a feature not offered by most exchanges, but Remitano allows its users to exchange cryptocurrencies. However, they only support the swapping of Tether (USDT) and all other cryptos on its platform that is BTC/USDT or ETH/USDT.
Depending on the time of the day, you can contact the live support using the chat icon at the bottom left of the site. In some cases, you can receive feedback in a few minutes and in other instances, it can take hours.
If you require more information or have questions,you can use the comment box below or you can always contact customer support by sending an email to [email protected]
Alternatively, you can visit Remitano’s Help Center to view some of the FAQs as well as their responses from the Remitano team.