How to Buy and Sell Bitcoin on Remitano in Nigeria
Remitano is a leading peer-to-peer Bitcoin and cryptocurrency exchange in Nigeria.
The platform makes it easy for Nigerians to buy, sell and trade Bitcoin using various payment methods.
With Remitano, you can buy Bitcoin instantly with debit/credit card or bank transfer.
You can also trade Bitcoin securely by creating buy or sell ads.
Remitano escrows Bitcoin to ensure safe P2P trading.
In this detailed guide, you’ll learn:
- What is Remitano and how it works
- The benefits of using Remitano
- Step-by-step process to buy Bitcoin on Remitano
- Step-by-step process to sell Bitcoin on Remitano
- Remitano fee structure
- Safety tips for trading Bitcoin on Remitano
What is Remitano and How Does It Work?
Founded in 2015, Remitano is a peer-to-peer cryptocurrency marketplace that allows users to buy and sell Bitcoin using multiple local payment methods.
Remitano connects crypto buyers and sellers directly.
The platform provides an escrow service to ensure the safe completion of P2P transactions.
Remitano currently supports bank transfers, gift cards, cash deposits and mobile money for buying and selling Bitcoin in Nigeria.
To trade on Remitano, you need to create an account and complete the KYC verification process.
Once your account is verified, you can post a buy or sell advertisement indicating your preferred payment method and price.
When a trade is initiated, Remitano secures the crypto in an escrow wallet.
The seller confirms receiving the payment from the buyer before releasing the escrowed crypto.
Remitano also has a customer support team to resolve any disputes.
Benefits of Using Remitano to Buy and Sell Bitcoin in Nigeria
Here are some of the key benefits of using Remitano:
- Seamless P2P trading: Remitano’s escrow service ensures secure Bitcoin trading between peers without intermediaries.
- Multiple payment options: Remitano offers various local payment methods like bank transfer, gift cards, cash deposit and mobile money. This makes trading accessible to most Nigerians.
- Competitive fees: Remitano’s trading fees are lower compared to other P2P and crypto exchanges in Nigeria. There are no deposit or withdrawal fees.
- Quick transaction times: Most P2P trades on Remitano are completed within 5-30 minutes. Quick trades are essential in a volatile crypto market.
- High trading limits: Remitano has high trading limits up to 1.5 million Naira depending on your verification level. High limits allow substantial trading.
- Responsive support: Remitano has 24/7 customer service via email, phone, social media and Telegram groups.
- Secure trading environment: Remitano adheres to strict KYC and transaction monitoring procedures to prevent fraud and money laundering. Your funds are also secured in an escrow wallet.
Step-by-Step Guide to Buying Bitcoin on Remitano
Follow these simple steps to buy BTC instantly on Remitano:
1. Create an Account
- Go to Remitano.com and click on “Sign Up” to create your account.
- Enter your email, password and phone number to sign up. You’ll need to verify the account via OTP sent to your phone.
2. Complete Identity Verification
- To buy Bitcoin, you need to complete KYC verification. This involves submitting your personal details and ID document.
- Your verification request will be processed within 24 hours. This is to comply with KYC regulations.
3. Deposit Naira
- After verifying your account, navigate to the “Wallet” page and click “Deposit”. This is to fund your fiat wallet.
- You can deposit Naira via bank transfer or card payment. Follow the instructions provided.
- After your deposit is confirmed, the funds will reflect in your fiat wallet.
4. Search for Bitcoin Offers
- From the homepage, click “Buy” to view live BTC buy offers from sellers.
- Browse through the listings and select an offer with your preferred payment method and Bitcoin price.
5. Open Trade and Complete Payment
- After selecting an offer, you’ll advance to the trade screen. Verify the seller’s payment details carefully.
- Open the trade by clicking “Buy” and complete the payment to the seller using their provided bank details.
6. Confirm Payment
- Once you complete the transfer, mark the payment as “Paid”.
- Upload the transfer receipt or screenshot as payment proof on Remitano chat.
7. Receive Bitcoin
- The seller will confirm receiving the payment and release the escrowed Bitcoin to your Remitano wallet.
- You can then withdraw the Bitcoin to an external wallet or hold it in your Remitano wallet.
That’s it! You have now successfully bought Bitcoin on Remitano.
Step-by-Step Guide to Selling Bitcoin on Remitano
Follow these steps to securely sell BTC for Naira on Remitano:
Step 1: Transfer Bitcoin to Remitano
- If you already own Bitcoin, transfer it to your Remitano BTC wallet address.
- You can also buy Bitcoin directly on Remitano using the buying process above.
Step 2: Create a Sell Order
- Go to the “Sell” page and click “Post a new advertisement”.
- Set your preferred Naira price and select a payment method you want to receive (bank transfer or gift cards etc).
- Complete the form and click “Post Advertisement” to list your sell order.
Step 3: Wait for a Buyer
- Buyers will now see your posted sell advertisement and make offers.
- Once you accept an offer, the trade will start. Only proceed with trusted buyers with good reviews.
Step 4: Confirm Payment from Buyer
- The buyer will complete the Naira payment to you using your provided bank details.
- Wait to receive the payment notification from your bank before releasing Bitcoin.
Step 5: Release Bitcoin in Escrow
- After receiving the Naira payment, mark the payment as “Confirmed” on Remitano chat.
- This will automatically release the escrowed Bitcoin to the buyer’s Remitano wallet.
Step 6: Withdraw your Naira
- Withdraw the Naira received from the trade to your local bank account.
- Go to “Wallet”, click “Withdraw” and enter the amount to withdraw.
And you’re done! You have now completed the process of selling BTC for Naira on Remitano peer-to-peer exchange.
Remitano Fee Structure
Remitano charges a small fee for buying and selling crypto.
There are NO fees for deposits and withdrawals.
Here is an overview of Remitano’s fees:
- Buyers pay 0.5% per transaction e.g. if you buy 10,000 Naira worth of Bitcoin, you’ll pay 50 Naira fee.
- Sellers pay 0.5% per transaction e.g. if you sell 10,000 Naira worth of Bitcoin, you’ll pay 50 Naira fee.
- No deposit or withdrawal fees. Depositing Naira or withdrawing to your bank account is free.
- No limits on trading volume. You can buy or sell any BTC amount without volume limits.
Overall, Remitano has very competitive fees compared to other P2P and crypto exchanges. The more you trade, the more you save.
Safety Tips for Trading Bitcoin on Remitano
Here are some tips to trade safely on Remitano:
- Complete full KYC verification to gain buyers’ trust.
- Check buyer’s profile and reviews before trading. Avoid new accounts without reviews.
- Never release crypto until you confirm receiving the Naira payment.
- Only use Remitano’s secure escrow wallet for transactions. Don’t trade outside the platform.
- Enable 2-factor authentication and a strong password for your account.
- Avoid using public WiFi to access your account.
- If you face any issues, contact Remitano customer support immediately.
- Always backup your 2FA secret key in case you lose access to your device.
By following these tips and Remitano’s security guidelines, you can securely buy and sell Bitcoin on the peer-to-peer exchange.
I hope this detailed guide gives you clarity on how to use Remitano to buy and sell BTC in Nigeria.
The platform provides an easy and affordable way for Nigerians to access Bitcoin using various local payment methods.
Remitano’s escrow system also enables secure P2P crypto trading by holding funds until transactions are completed.
Ready to start? Register on Remitano.com today and explore seamless Bitcoin trading in Nigeria!