How to buy and sell bitcoin on Remitano

 

 

Remitano is the biggest peer-to-peer Cryptocurrency exchange in Nigeria, with strong presence in other countries such as; United States, Cambodia, Ghana, Israel, Brazil, Canada, India, South Korea, Japan, Algeria, China, Singapore, Malaysia, Tanzania, Thailand, Qatar, Nepal, Philippines, and so on. It was founded in 2016 by Babylon Solutions Limited, and is incorporated and headquartered in Seychelles.

The platform makes it possible for users to connect with other cryptocurrency buyers and sellers around the world, in a secure environment.

You can trade the most popular cryptocurrencies, including, but are not limited to; Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Ripple’s XRP, and Tether.

Remitano accepts payments by bank transfer, and also in cryptocurrencies.

Fiat currencies supported by Remitano include, but are not limited to: NGN, AED, EUR, ARS, AUD, BDT, BND, BOB, BRL, KRW, CAD, DOP, CHF, XOF, XAF, NZD, CNY, DKK,  DZD, GBP, GHS, IDR, ILS, INR, JPY, KES, NOK, and more.

Here are the key attributes of the Remitano platform:

  • 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.

 

How To SignUp on Remitano:

  • Step 1: Go to Remitano.com
  • Step 2: Click the ‘Login/Register’ button on the homepage
  • Step 3: Type in your email in the box below 

You’ll receive a confirmation link in your your email.

[Note]: Whether you’re Signing up or Logging in on Remitano, the process is the same (i.e., after typing in your email address in the required box, you only need to go Click the confirmation email sent to you, and you’ll automatically be logged in, or Signed up).

Remitano does not require Password whatsoever.

 

How To Buy Bitcoin on Remitano:

  • Step 1: First, make sure  you Create an account on Remitano
  • Step 2: Go to the Menu above, and Click on ‘P2P Exchange’
  • Step 3: Click on the ‘Buy now’ button

how to buy bitcoin on remitano

  • Step 4: Input the amount of bitcoin you wish to buy in the empty box provided (it also shows you the estimated amount in your local currency and in US dollars)
  • Step 5: Click on the Green ‘Buy now’ button below

You’ll see a list of potential Sellers; who are willing to sell the bitcoin amount you typed-in. The seller list changes depending on the amount of bitcoin you type-in.

[NOTE]: It is very important to choose the right seller (in order to avoid potential scams or unserious sellers).

The higher up the seller appears on the list, the safer it is to trade with them – because they generally have great feedback scores.

The list will contain Sellers who bank with different banks. It’s best to choose a seller who uses the same bank as you.

Click on the Username of the seller you’re looking to trade with, and Check their credibility metrics properly.

Check the volume of bitcoin they’ve traded, their number of successful trades, when they joined the platform (Remitano), whether or not they’re verified, and most importantly, Check their ‘Feedback Score’.

A seller with a Feedback score between 90% to 100% is more advisable to trade with, than those with lower feedback scores

Step 7:

 

How To Sell Bitcoin on Remitano:

  • Step 1: First, make sure  you Create an account on Remitano
  • Step 2: Make sure you have bitcoins available in your Remitano wallet (so, if you have bitcoins available in your Blockchain wallet, you’ll have to Send them to your Remitano wallet for the trade)
  • Step 3: Go to the Menu above, and Click on ‘P2P Exchange’
  • Step 4: Click on the ’Sell now’ button
  • Step 5: Input the amount of bitcoin you wish to Sell in the empty box provided (it also shows you the estimated amount in your local currency and in US dollars)
  • Step 6: Click on the Green ‘Sell now’ button below

You’ll see a list of potential Buyers; who are willing to buy the bitcoin amount you typed-in. The buyer list changes depending on the amount of bitcoin you type-in.

[NOTE]: It is very important to choose the right buyer (in order to avoid potential scams or unserious buyers).

The higher up the buyer appears on the list, the safer it is to trade with them – because they generally have great feedback scores.

The list will contain buyers willing to pay you via different banks. It’s best to choose a buyer who uses the same bank as you.

Click on the Username of the buyer you’re looking to trade with, and Check their credibility metrics properly.

Check the volume of bitcoin they’ve traded, their number of successful trades, when they joined the platform (Remitano), whether or not they’re verified, and most importantly, Check their ‘Feedback Score’.

A buyer with a Feedback score between 90% to 100% is more advisable to trade with, than those with lower feedback scores

  • Step 7:

 

Best Site To Buy and Sell Bitcoin in Nigeria:

As far as I’m concerned, Remitano is one of the best sites to buy and sell your bitcoin in Nigeria!

 

Deposit & Withdrawal Options:

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

When you open an account on Remitano, you’re also  provided different wallets for different supported crypto coins 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 summarized 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.

To complete Level 1 Verification, go to your username drop-down Menu and select ‘Verification Process’. Then click on ‘Verify’.

 

On Remitano you can buy, sell, and swap your cryptocurrencies.

 

These are the Cryptocurrencies that are currently supported by Remitano, for buying and selling.

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

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

Swapping allows investors to deposit supported cryptocurrencies into the respective Remitano wallets and instantaneously swap (exchange) it for either Bitcoin, Tether (USDT), or Ethereum.

There is a 0.25% swapping fee, and market volatility rate may lead to a change in actual amounts, in real-time.

To do a swap, go to the Wallets page located under the Dashboard drop-down menu and select the cryptocurrency you wish to swap.

 

Fees and Charges:

Fees on Remitano will vary, depending on the method you use in purchasing the Crypto.

There are also fees incurred for swapping cryptocurrencies, for depositing cryptocurrencies, and for withdrawing cryptocurrencies. And the fees are much lower compared to other sites such as Paxful.com

 

Trading Fees:

The price which is displayed in the advertisements you see on Remitano, already includes the trading fees (which is 1% of the actual price advertised).

 

For Sellers:

If you advertise or offer to sell 1BTC at US$27,000, then your receiving price is US$27,000. The displayed price in the Ad however, will be US$27,000 + 1%, which is equal to US$27,270.

 

For Buyers:

If you advertise or offer to buy 1BTC at US$27,000, then your actual paying price is US$27,000 and you will receive 1BTC – 1% (of the amount of BTC you want to buy).

That is,… the actual amount you’ll pay will be the US$27,000 and the 1% added fee. Meaning, you’ll have to pay US$27,270 (as seen above).

The 1% is Remitano’s share of the transaction carried out on their platform (for the escrow services they rendered).

From that 1% fee, Remitano gives 40% and 10% of that to their Tier 1 and Tier 2 affiliates respectively; for referring active traders to their site.

So, if you want to join Remitano’s affiliate program and earn some referral commissions, Click here to Sign Up Now!

 

Wholesale:

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

 

Swaps:

The Swapping fee on Remitano, is 0.25% of value swapped.

 

Remitano Withdrawal fees:

Remitano’s withdrawal fee is 0.0002 BTC per BTC-withdrawal – which is far below the industry average fee.

The industry average BTC-withdrawal fee is generally in the neighborhood of 0.0008 BTC per BTC-withdrawal.

Although, these days, more exchanges charge about 0.0005 BTC per BTC-withdrawal, so we can safely say that 0.0005 BTC is likely to become the new industry average bitcoin withdrawal fee.

In any case, Remitano’s 0.0002 BTC per BTC-withdrawal fee, is very consumer-friendly, and one of the many reasons I personally love trading on the platform.

 

Remitano Invest:

The investment section on Remitano was launched in the second quarter of 2019. This option allows you to add some cryptocurrencies to your investment portfolio.

With the investment option, you do not actually get custody of the cryptocurrency. But instead, you give your money to the platform; to invest on your behalf.

For instance, if you invest $300 in Tezos (XTZ), and in 72 hours, the value of Tezos appreciates by 10%, your investment will now be worth $330. Similarly, if Tezos depreciates in price by 10%, your investment will be worth $270.

After closing an investment position, you will receive your money directly into your wallet account.

All investments are made using Tether (USDT) only.

But, you can always convert between cryptocurrencies, and manage all your crypto portfolios with ease in the Wallets section.

 

Pros:

  • There is no central account (therefore, it’s not vulnerable to hackers, or any government intervention)
  • You can trade at any hour and minute of the day – everyday (once there are people to trade) 
  • Very good trade rates

 

Cons:

  • Fraud due to human error

 

Affiliate Program

Like I said before,… Remitano’s Affiliate program rewards you for bringing new traders to the platform.

As of 2020, all affiliate commissions will be paid in Tether (USDT).

The affiliate commission percentage share you’ll receive is 40% (of that 1% trading fee). And in addition, you’ll earn 10% commission from your Tier 2 referrals.

Guidelines for the affiliate program:

  • If your account is identified as a clone of other accounts on Remitano, it won’t be eligible for receiving affiliate commissions.
  • Remitano reserves the right to reward or deny a commission for specific cases. They also reserve the right to alter their affiliate program terms and conditions at any time.

Click the link below to Join

Remitano Affiliate Program Sign Up

 

Key features of the Remitano platform:

Advertising: Buyers and sellers are able to create adverts to either buy or sell bitcoin, or other crypto coins.

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

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

Escrow Platform: This mechanism reduces the risk of possible fraud, with cryptocurrencies locked in escrow; until funds are successfully sent, and received by both parties.

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

With the investment option, you deposit an amount of money, and Remitano helps you to trade on it for profit.

Mobile Platform: Trading on mobile is fully supported. The Remitano app is available for download on App Store, and Google PlayStore.

P2P Exchange: Is marketplace where buyers and sellers link up, in order to buy and sell supported cryptocurrencies.

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

 

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 through complete a verification process. The process will at least reduce or dis-incentivize scammers…is aimed to significantly reduce incidences of scams.

Transparency: The platform makes it possible for buyers and sellers to review a buyer or seller profile before placing a trade.

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 able to score each other on the platform. Remitano effectively ban people proven to be scammers from the platform.

 

2-Factor Authentication (2FA):

An additional security measure that allows Remitano users to further secure their account and funds from hackers and scammers.

To activate the 2-Factor authentication feature, you need to download Google’s Authenticator App from PlayStore and activate the 2-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.

 

P2P Exchange

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • Ripple (XRP)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)

Investment Platform

  • Tezos (XTZ)
  • Monero (XMR)
  • ChainLink (LINK)
  • Ethereum Classic (ETC)
  • Neo (NEO)
  • EOS (EOS)
  • Binance Coin (BNB)
  • Cardano (ADA)
  • Stellar (XLM)
  • Tron (TRX)

 

Also Read:

How To Buy and Sell Bitcoins on Localbitcoins.com | Step-by-Step Tutorial

How To Buy and Sell Bitcoin on Paxful | Paxful Review

 

 

Post Title: How To Buy and Sell Bitcoin on Remitano | Remitano Review

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