How To Buy Bitcoin On Remitano In Nigeria 2022 | Buy Ethereum 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.
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 In Nigeria 2022:
- 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
- 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
How To Sell Bitcoin on Remitano In Nigeria 2022:
- 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.
Best Site To Buy and Sell Bitcoin in Nigeria:
Remitano.com 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 SignUp
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 On Remitano (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 [email protected] 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:
HowTo Buy and Sell Bitcoins on Localbitcoins.com | Step-by-Step Tutorial
Post Title: How To Buy and Sell Bitcoin on Remitano In Nigeria 2022 | Remitano Review
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