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Remitano Bitcoin Exchange Review: Legit or Scam?

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Do you want to buy and sell Bitcoin easily and at the best rate possible in your local currency? If you answered yes, you must remain with me until the end of this post.

Remitano is a peer-to-peer (P2P) cryptocurrency trading platform with users in over 30 countries. The platform is an escrowed peer-to-peer cryptocurrency marketplace that enables users to simply and safely purchase bitcoin in Australia, Malaysia, Nigeria, Vietnam, Cambodia, and China.

remitano

Remitano launched in 2015 and currently has users from over 30 countries, including Malaysia, Indonesia, Cambodia, Africa (Nigeria, South Africa, Ghana…), India, Pakistan, and Venezuela. This diversity contributes to the Remitano’s reliability and the RENEC token’s potential value.

I will discuss the following subtopics in this Remitano review: “What is Remitano?” “Remitano Features” “How to buy and sell on Remitano?” “Affiliate & Referral Commissions for Remitano” “Remitano Login” “Remitano Registration” “Cryptocurrencies traded on Remitano” “Remitano Fees” “Remitano Token” “Remitano Mining” and similar terms.Let us begin……

What is Remitano?

Remitano is a peer-to-peer (p2p) cryptocurrency trading platform with users in over 30 countries. The platform is an escrowed peer-to-peer cryptocurrency marketplace that enables users to simply and safely purchase bitcoin in Australia, Malaysia, Nigeria, Vietnam, Cambodia, and China.

Remitano operates an escrowed peer-to-peer Bitcoin marketplace where users can buy and sell Bitcoin easily and safely. The platform features an intuitive user interface, friendly online customer support available 24/7, and the lowest fee in comparison to other major players on the market.

Our staff is mostly made of banking professionals with vast experience in financial products, electronic currencies, payment systems, and agile software development, among other areas.

It currently operates in a number of countries, including Australia, Malaysia, Nigeria, Vietnam, Cambodia, and China, and is expanding daily.

How does Remitano work?

REMITANO, as a peer-to-peer currency exchange platform, provides a secure trading environment for Bitcoin traders from across the world. As a result, the platform’s trustworthiness is determined by the traders’ integrity.

Remitano is a peer-to-peer bitcoin exchange that works in various countries without the assistance of a financial partner, effectively insulating the service from their whims and fancies. Remitano is unlike from other centralized exchange systems now available on the market, which rely largely on banks to receive deposits and process consumer withdrawals.

Banks have a history of retaliating against centralized exchange systems. Recent examples of accounts belonging to well-known Malaysian centralized exchanges being shut down by banks created significant difficulties for clients attempting to cash out or deposit funds. Such circumstances have heightened interest in peer-to-peer exchange platforms, which have the potential to neutralize banks’ capacity to shut down or dictate conditions to bitcoin exchanges.

The Remitano Peer-to-Peer Exchange solely deals in Bitcoin and leaves all banking-related activities to users, ensuring that the operation is not harmed by banks’ whims. Even though Remitano is a latecomer, it distinguishes itself from other existing exchange platforms with its straightforward user interface and excellent customer service. Customers may contact Remitano via live chat to have their inquiries answered and issues resolved swiftly. Additionally, the platform’s 0.5 percent cost is cheaper than that of the other main platforms on the market.

Remitano Features

Remitano offers a variety of features that are accessible through your account’s dashboard. These features are available to anyone interested in trading bitcoins and other cryptocurrencies. There are several of them, including the

  1. Buy and Sell
  2. Swing
  3. Swap
  4. Liquidity
  5. Forum and;
  6. Earn Renec

Remitano Buy and Sell

Remitano’s Buy and Sell feature allows you to buy and sell Bitcoin and Altcoins using your local currency within 15 minutes. Additionally, there is a feature that rewards you with a 0.5 percent bonus if your trade does not complete within 15 minutes.

Remitano Swing Feature

The Remitano Swing Feature is the P2P exchanger’s Investment component; it entails depositing BTC or other Altcoins for a time in exchange for daily, weekly, or monthly earnings or interest in USDT.

remitano swing1572191956312447467

Source: Remitano.com

With Remitano Swing, the amount invested in a cryptocurrency represents an open position that the individual may close at any time. In this instance, the altcoin cannot be withdrawn to an external wallet.

Remitano is a p2p cryptocurrency exchanger that makes use of the Binance pricing ladder.
Your minimum investment is $20.

This is also an advantage of cryptocurrency investment over conventional kinds of investment in that traders can invest with a modest quantity of funds.

Remitano charges a fee of 1% of the total USDT you get, and this fee is only levied when you make a profit. The amount of usdt remaining after fees will not be less than the amount invested.

Remitano Swing – Margin trade

Margin trading is a type of trading that makes use of financial leverage (borrowing money from the platform) to enable you to purchase and sell using more money than you have. At the moment, Remitano Invest offers 2X leverage at a 9% annual interest rate, thereby doubling your investment, doubling your income but also doubling your dangers. Additionally, you will be required to pay interest on this loan.

Remitano Swap Feature

The Swap Feature enables users to trade cryptocurrencies such as BTC/USDT or ETH/USDT. We intend to expand and support additional trusted and popular cryptocurrencies in the near future.

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remitano swap886521513594900609

Remitano began with a BTC/USDT currency exchange service. Swap Trading was established on 6th July 2018 to facilitate crypto-to-crypto trading in an effort to improve the user experience and platform liquidity. Additionally, additional major altcoins – like Binance Coin (BNB), Tron (TRX), EOS, Stellar (XRP), and Cardano (ADA) – have been added to the USDT Invest function recently.

Remitano Liquidity Feature

Remitano includes a liquidity function that enables traders to provide liquidity to pools and earn passive income in the process.Adding liquidity is a frequent practice on DEXs like as Uniswap, Pancakeswap, and Quickswap, where token holders can provide liquidity to the pool in exchange for 0.17 percent of trading fees.Cryptocurrency novices will find this feature overly confusing, but I will go into greater detail about it further below.

What is liquidity?

When we talk about liquidity, we are referring to the ease with which an asset may be bought or sold in the market without having an impact on its market price. An asset with high liquidity is defined as one in which users can buy and sell in large quantities without risk of experiencing severe slippage in the market (price changes in an adverse direction compared to the market price at that time).

What is Remitano Liquidity?

Remitano Liquidity is a product that allows you to make passive income by increasing the pool’s liquidity. Each pool contains two tokens; you can add a coin-coin or coin-fiat pair (VND/NGN/MYR/INR/…). The liquidity product seeks to give the best pricing for trading pairs on the exchange and to minimize slippage when significant numbers of coins are purchased or sold.

What is a pool?

A pool is a collection of two asset types in a trading pair that are given by exchange users. Individuals who contribute their crypto assets to a liquidity pool will earn a certain interest rate when other users trade their two assets.

Where does the passive income come from?

Those that supply liquidity to the pool will share in the revenue generated by the fee paid by Remitano on Swap transactions originated by the pool.

Is there a cost associated with adding or removing liquidity?

Easily, quickly, flexibly, and fully for free, add/remove liquidity from the pool.

Is the annual percentage rate (APR) a set figure?

The annual profit % you actually receive may differ from the percentage displayed on the interface in the “All Pools” section, as it is determined by the price range scale you select when adding liquidity to the pool.

What is Pool’s price support zone? What effect does this have on profits?

When you add liquidity to the pool, you must specify the “Minimum Price” and “Maximum Price” of the asset pairs you add. Between “Minimum Price” and “Maximum Price” is referred to as the “Support Zone.” The narrower this “Support Zone,” the greater the potential annual profit, and vice versa.

However, it is hazardous because if the coin price falls below your Support Zone for the asset pair you are adding to the pool, you will lose gains from that pool. That is, the market price must be between the Minimum and Maximum Prices (Min Price = Support Zone >= Max Price) in order for you to earn.

If the market price of the coin deviates from the Support Zone, you have two options: (1) remove liquidity for that asset pair, adjust the Price Range Scale, and reintroduce liquidity; or (2) wait until the market price of the asset pair in that Pool returns to the Support Zone to continue profiting from the pool.

Is it risk-free to add Liquidity coins to the pool?

Liquidity suppliers bear the danger of impermanent loss. This is the decline in the value of a coin between the time it is added and when it is removed. This loss occurs only when the exchange rate of the two assets contributed to the pool fluctuates between these two dates.Indeed, temporary losses can frequently be mitigated by the trading costs you share with the pool while still profiting. You should, however, keep in mind that giving liquidity to the pool is not a risk-free investment with a guaranteed rate of return.

Remitano Forum

Remitano uses its forum feature to keep its users informed of the newest happenings and news in the cryptocurrency world. The forum is used to educate members about the platform’s operation and to provide financial advice and tips.

Remitano – Renec Token

Remitano users can earn Renec tokens by mining Renec on a daily basis under the Earn Renec area.

What is Renec Token?

RENEC is the abbreviation for Remitano Network Coin, the ecosystem’s native and governance token. The applications built on the Remitano Network include token swap (DEX) applications, decentralized finance (Defi) applications, and NFT applications. They are also prepared for a future of decentralized internets such as Web 3.0 and Metaverse.RENEC will be used to pay for gas prices associated with network transactions. Users will only pay a charge of 40% less than usual when exchanging coins via RENEC tokens on Remitano Network’s decentralized exchange.

RENEC Token Basics

Token: RENEC
Blockchain: Remitano Network
Protocol: Authorized Proof of Stake (DPoS)
Token Type: Utility Token
Base Mining Power (solo): 0.02 RENEC/hour
Supply: Supply will be decided as a result of the RENEC mining program
Whitepaper: Read Here

How much RENEC can I mine?

The standard rate of RENEC mining is 0.02 RENEC/hour. However, you can double your mining speed to acquire additional RENEC in one of two ways:

Invite at least five (5) mining buddies (the invitee must enter mining at least once).

Complete at least one (1) transaction using one of the Remitano products: P2P Trading, Swing Trading, or Swap Trading. Take a look at Remitano’s first trading tutorial.

When you suggest a friend to mine using your referral link, you will earn 20% of the total amount of RENEC mined by your friends.

When you invite a friend to mine RENEC via the referral link, you will earn 20% of the total amount of RENEC mined by your buddy.

How to register/sign up on Remitano?

Registration on Remitano is easy and takes no more than three minutes. To easily register on Remitano, follow these steps:

  1. Goto the Remitano Website.
  • Click on Login/Register
  • Step 2: Complete the form with your email address and click “Continue.”
  • A Remitano email will be issued to your email address. Click “Log me in Remitano” to open it.
  • Step 4: Enter your login and password and click “Continue.”
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The registration process is then complete, and you may begin trading. However, you should change your account information to make the transaction more convenient. (Settings -> Profile and make any necessary changes).

How to Sign in/Log in on Remitano?

Logging in is as easy as the registration above. Just follow the steps below to Log in to your Remitano account.

  • Goto the Remitano Website.
  • Click on Login/Register
  • Step 2: Complete the form with your email address and click “Continue.”
  • A Remitano email will be issued to your email address. Click “Log me in Remitano” to open it.

You will be redirected to your dashboard immediately after successful sign in.

Remitano Affiliate/Referral Program

Remitano offers affiliate/referral programs to its users. For each new user introduced to Remitano, the upline earns 40% commission on all transactions made by the downline. Additionally, the upline earns 10% commission on referrals from tier 2 referrals. Sign up and start referring ??.

How to Deposit on Remitano?

Remitano’s deposit process is same to those of other exchanges. Remitano accepts deposits in the following currencies: Bitcoin, Ethereum, Tether USD, Bitcoin Cash, Litecoin, and Ripple.To make a deposit on Remitano, complete these steps:

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  • Access your Remitano account by logging in.
  • Select “Wallets” from the “Menu.
  • Select the coin to deposit and click “DEPOSIT.”
    remitano deposit8841199349443554220

    Source: Remitano

  • Copy the wallet address supplied or click “Generate New Address” to generate a new one.
    remitano deposit wallet6038154412380293706

    Source: Remitano

  • Transfer funds to the specified wallet address and wait for reflection.

How to withdraw from Remitano?

Withdrawing cryptocurrency on Remitano is identical to depositing. You can withdraw Bitcoin, Ethereum, Tether USD, Binance coin, Tron, Bitcoin Cash, Litecoin, and Ripple.To make a withdrawal on Remitano, complete these steps:

  • Access your Remitano account by logging in.
  • Select “Wallets” from the menu.
  • Click “WITHDRAW” to select the coin you wish to deposit.
    remitano withdrawal 1802781291264753300

    Source: Remitano.com

  • Paste the wallet address to which you wish to make a withdrawal.
  • Enter the quantity of coin you wish to withdraw and click confirm.
    remitano withdrawal6682523281915971918

    Source: Remitano.com

  • Authy confirmation (if you have done 2 safty steps).
    authy confirmation4246342538013781912

    Source: Remitano.com

Important note: If you enable “Trust device,” the next time you perform this activity on the device, we will not prompt you for Authy confirmation.

How to deposit/withdraw fiat currency on Remitano?

Remitano supports fiat wallets, which may be used to purchase cryptocurrency using local currencies.

At Remitano, the fiat wallet is utilized to store your local currency on the website, which enhances your trading experience. When you have adequate local currencies on the website, the sale will be completed promptly; additionally, there is no need to wait for the seller to check his bank statement. Consider the following video to demonstrate the ease of utilizing Remitano Fiat Wallet:

At the moment, Remitano supports the Nigerian market (NGN wallet), the Malaysian market (MYR wallet), the Indian market (INR wallet), the Venezuelan market (VES wallet), and the Indonesian market (IDR wallet) (IDR wallet)

All levels of users have the ability to withdraw funds from their MYR/NGN/INR/IDR/VES wallets.All verified users can make deposits to our FIAT Wallet.

How to deposit fiat?

  • To begin, go to DASHBOARD -> WALLETS.
  • Navigate to your fiat wallet (located at the top of the coin list) and click DEPOSIT.
  • Select the bank and deposit amount -> click DEPOSIT.
  • You must ensure that the transfer includes the precise amount and description specified in your bank transaction description/remarks.
  • Log into your bank account and transfer funds to the bank account indicated.
  • You must ensure that the transfer includes the precise amount and description specified in your bank transaction description/remarks.

Note: If your bank balance is inadequate to cover the deposit or you wish to adjust the amount, you can “Cancel the deposit” and start another deposit request.

How to withdraw fiat?

  • Click the “withdraw” button.Enter the desired withdrawal amount.
  • Open an account to receive your funds. The system will remember your account and you will not be required to enter it again.
  • To withdraw your funds, click “Confirm.”
  • After double-checking all of the details, click “withdraw.”
  • Verify the withdrawal’s status

After submitting the withdrawal, you can check its status on the withdrawal history. Once the status changes to Proposed, the funds are sent, and once the status changes to Delivered, you can check your bank statement on internet banking.

How to buy and sell crypto on Remitano?

Buying and selling cryptocurrencies on Remitano can be challenging for novice users, but don’t worry, I’ll walk you through the process of buying and selling Bitcoin, Ethereum, Ripple, Binance coin, and other altcoins.Remitano enables you to purchase crypto assets using fiat currency and a credit/debit card.

For the purpose of learning in this article I will show you how to buy cryptocurrencies on Remitano by using BTC as an example.

Buying BTC/Altcoins on Remitano with Fiat Wallet

  • Scroll down from the homepage, Find 1 seller from “List of sellers(You want to buy Bitcoin?) and press “Buy
    buy btc remitano

    Source: Remitano.com

  • Enter the quantity of coin you wish to purchase and click “Buy BTC” to initiate the transaction.btc1.mov 3Important note: “Amount limits” refers to the seller’s (ad creator’s) desire to trade a minimum and maximum amount. You can only trade up to this amount.
  • Payment is made through the seller’s transaction bank.
    Your Remitano wallet: By selecting this area, the BTC will be credited to your Remitano Wallet after purchase.
    Your personal BTC wallet: when selecting this section, BTC will be sent to the address you provided.
  • Copy the seller’s payment information from the trade page. Access your internet banking and make a payment to the seller using INSTANT TRANSFER. You must pay within the time frame indicated.screenshot2019 08 10at81679759339101875785.
  • After successful payment, press the [I have paid seller] button and wait for the seller to confirm. If you do not press it, you will lose money.screenshot2019 08 10at85510622753534481110.

It is important to note that you should never cancel a trade if you have already paid. Because the trade cannot be reversed once it has been done.

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Trading Limitations

A new Buyer’s initial trade will be limited to a purchase of no more than 2 BTC.
If he successfully completes his first trade, the restriction is lifted.
The advertiser, on the other hand, will be allowed to limit the size of the trade. The purchaser may purchase no more than the amount specified by the advertiser.
The minimum transaction amount is 0.02 BTC.

Buy BTC/Altcoins on Remitano with Credit/Debit cards

Buying bitcoins using a credit/debit card is simple on Remitano, owing to the Simplex feature. Simplex is a tool that allows users to purchase Bitcoin and other cryptocurrencies using a credit or debit card.

Kindly take note that the Simplex service is not available in the FATF-listed countries.

Additionally, this service is not offered to consumers in the VN, NG, and MY markets, since we currently have sufficient cash via local bank transfer.

  • In the P2P interface, locate the Simplex payment method as “Simplex seller” under the Buying Ad section and click “Buy.”
  • Enter the desired quantity of coin, verify the total amount due, and click “Buy now.”
  • Verify the transaction details once more and click “Buy now.” “to take you to the Simplex website.
  • Fill out the Payment form (containing the Payment details and Personal information) and click “Pay now.” “‘.
  • Verify your email address and phone number in Step 5.
  • Upload an identification document and complete the appropriate fields.
  • Complete your payment request

How to swap tokens on Remitano?

  • Log in and select DASHBOARD, then WALLETS.
  • From your wallet, select the coin you wish to SWAP and click SWAP.
  • Select the coin you wish to receive.
  • Enter the desired quantity of coins to SWAP and click the SWAP button.
  • Click confirm to continue or cancel to cancel your SWAP.
  • After clicking Confirm, your SWAP order will be processed and fulfilled almost instantaneously, at which point you can check your balance.

The amount you receive may vary slightly depending on the market conditions at the time. The exchange fee is 0.25 percent, which is deducted from the estimated value when you place a SWAP order.

Remitano Exchange Fees

Each time a user transacts on the Remitano dashboard, fees are collected. These fees include trading fees, swap fees, and investment fees (swing).

Trading fees

The trading fee is 1% of the price specified in the advertisement. Fees are already included in the price presented to advertisement viewers.

Swap Fees

When you place a SWAP order, you will be charged a 0.25 percent exchange fee, which will be subtracted from your projected value.

Invest Fees (Swing)

The fee for investing is 1 percent of the entire amount of USDT that you actually receive, and it is only charged when you make a profit on your investment. The amount of USDT remaining after the fee is not expected to be less than the amount of the investment.

Borrowing interest is calculated at a rate of 0.0010274 percent per hour.

How to mine Renec Token

  • To begin mining RENEC, you must first create a Remitano account and verify it with your phone number. Please keep in mind that you cannot mine RENEC without first validating your phone number.
  • Install the Remitano app on your Android device via Google Play or on your iOS device via the App Store. Access your account by logging in.
  • Go to the mining page for RENEC and click the “start mining” button. Every 24 hours, you can mine RENEC at a base rate of 0.02 RENEC/hr and a boosted rate of 0.04 RENEC/hr.

Note: You can mine RENEC using the Remitano app on an Android device or a web browser on a smartphone, tablet, or desktop computer.

At the moment, the Remitano app for Apple iOS mobile devices does not support mining RENEC. If you use Apple mobile devices or desktop PCs, however, it may still be accessed via standard web browsers such as Safari/Chrome/Firefox, etc.

When you click on RENEC on your web browser, an OTP number will be delivered to you via your mobile phone’s notification system from the Remitano program.

Thus, before to mining RENEC using a web browser, the following conditions must be met:

  1. The Remitano app is downloaded from Google Play or the App Store for iOS devices. After that, sign in to your account.
  2. Allow the application to send notifications (notifications) to the phone’s settings in order to receive OTP codes.

How can I gain additional RENEC?

The standard rate of RENEC mining is 0.02 RENEC/hour. However, you can double your mining speed to acquire additional RENEC in one of two ways:

  1. Invite at least five (5) mining buddies (the invitee must enter mining at least once).
  • Complete at least one (1) transaction using one of the Remitano products: P2P Trading, Swing Trading, or Swap Trading. Take a look at Remitano’s first trading tutorial.

When you suggest a friend to mine using your referral link, you will earn 20% of the total amount of RENEC mined by your friends.

When you invite a friend to mine RENEC via the referral link, you will earn 20% of the total amount of RENEC mined by your friends.

What coins can be traded on Remitano?

Currently, the exchange allows users to buy and sell a variety of the market’s most popular coins, including Bitcoin (BTC), Ethereum (ETH), Tether USDT (USDT), Bitcoin Cash (BCH), Litecoin (LTC), and Ripple (XRP), Additionally, Binance Coin (“BNB”), Cardano’s ADA (“ADA”), Chainlink (“LINK”), EOS (“EOS”), Ethereum Classic (“ETC”), Monero’s XMR (“XMR”), NEO (“NEO”), Stellar’s Lumen (“XML”), Tezos (“XTZ”), and Tron’s TRX (“TRX”) are available via the swap and invest platforms.

Who owns Remitano?

Remitano is a product of Babylon Solutions Limited, a Seychelles-based company.

Is Remitano legit or scam?

Remitano is a simple-to-use platform that enables both rookie and experienced cryptocurrency investors to obtain exposure to the cryptocurrency markets.

While unregulated, Remitano provides peace of mind through its Escrow service, which guarantees the delivery of acquired cryptocurrency.

Remitano is a secure platform for transactions and a legitimate firm, as seen by their online ratings.

Conclusion

I’m confident that after reading this in-depth review of Remitano, you’ve gained a firm handle on the fundamentals of the platform and can now navigate it with ease.

We appreciate you taking the time to read this review; similar reviews may be seen below in the relevant post section.

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