How to Buy NEO In Nigeria On Remitano | Step-By-Step Tutorial

How to Buy NEO On Remitano In Nigeria

NEO is a unique open-source blockchain project that utilizes blockchain technology and digital identities to digitize assets and automate the management of digital assets.

NEO aims to create a “smart economy” by building a community-driven ecosystem to enable the development of next-generation internet.

Buying NEO allows you to invest in this innovative blockchain project and be part of the smart economy vision. One of the easiest ways to buy NEO is through the peer-to-peer cryptocurrency marketplace, Remitano.

What is Remitano?

Remitano is a peer-to-peer escrowed marketplace that facilitates the buying and selling of cryptocurrencies. The platform provides an easy and secure way for buyers and sellers to transact with each other.

Here are some key things to know about Remitano:

  • It allows you to buy and sell major cryptocurrencies like Bitcoin, Ethereum, Tether, and NEO.
  • The platform uses an escrow system to secure transactions and ensure both parties fulfill their obligations.
  • Low trading fees starting from 0.5%.
  • Allows a variety of payment methods including bank transfer, gift cards, and cash deposits.
  • Available as a web platform and mobile apps.
  • Has a user-friendly interface for easy buying and selling.
  • Supported in several countries globally.

Overall, Remitano aims to make cryptocurrency transactions more accessible. The combination of reasonable fees, multiple payment methods, and a user-friendly interface makes Remitano a great option for buying NEO.

Why Buy NEO on Remitano?

Here are some of the key benefits of buying NEO on Remitano:

Quick and Easy Process

The signup process is simple and only requires an email address. Verification may take 1-2 days after which you can instantly start trading. The interface is intuitive allowing you to easily navigate and find NEO trading offers.

Low Fees

Transactions on Remitano attract minimal fees starting from 0.5%. This makes it one of the most affordable options for buying NEO.

Various Payment Options

Remitano supports various fiat currency payment methods including bank transfers, gift cards, cash deposits, mobile money, and more. This gives users multiple options to choose one that is convenient for them.

Secure Escrow System

An escrow system is used to secure funds during transactions. The buyer’s funds are held until the seller completes their end of the trade. This prevents fraud and ensures the trade goes smoothly.

High Liquidity

Remitano has high trading volumes and liquidity for major cryptocurrencies like NEO. This makes it easy to find good rates and sufficient supply of NEO.

Buying NEO on Remitano provides an easy and secure way to get exposure to this innovative blockchain project. Let’s look at the step-by-step process.

How to Buy NEO on Remitano

Follow these steps to buy NEO on Remitano:

Step 1: Create a Remitano Account

  • Go to remitano.com and click on “Sign Up” to create an account.
  • You’ll need to provide your email address and password.
  • Verify your email address by clicking the link sent to your inbox.
  • Once verified, login to access your Remitano account.

Creating an account allows you to instantly get a digital wallet on Remitano to store any cryptocurrencies.

Step 2: Initiate a Buy Order

  • From your account, click “Buy” at the top to initiate a buy order.
  • Select NEO as the currency you want to buy.
  • Enter the amount of your local currency you wish to spend or the NEO amount you want to buy.
  • Choose your preferred payment method. Popular options include bank transfer, gift cards, mobile money, etc.
  • Click “Search Offers” to view available sell listings for NEO.

This initiates the buying process and shows you live listings from sellers.

Step 3: Select a Suitable Seller

  • Browse through the listings and look at factors like price, seller rating, location, limits, terms, etc.
  • Click on a listing to view seller details like username, feedback score, number of trades, location.
  • Select a seller that meets your preferences in terms of price and conditions.
  • Specify the NEO amount you wish to buy from the selected seller.
  • Click “Buy” to proceed with the transaction.

Make sure to review the seller’s terms carefully before choosing them. Higher rated sellers tend to be more reputable.

Step 4: Follow the Seller’s Instructions

  • After clicking Buy, you’ll see the trade details including the seller’s payment instructions.
  • The seller’s NEO will be held in Remitano’s secure escrow wallet.
  • Follow the payment instructions precisely whether it’s providing account details, voucher codes, or deposit slip.
  • Make the payment via your preferred method ensuring you send the exact agreed amount.
  • Mark the payment as complete once it’s done. This will notify the seller.

Strictly follow the seller’s provided payment information and guidelines. Reconfirm details before sending any funds.

Step 5: Wait for Seller Confirmation

  • After marking your payment as complete, wait for the seller to verify it.
  • The seller will check for the agreed amount/details and confirm once the payment has been received.
  • If there are any issues, you can discuss them with the seller over the built-in chat.
  • Once the seller marks payment as confirmed, the transaction enters the completion stage.

Be patient as payment confirmation can take some time depending on the method. Keep communicating with the seller if needed.

Step 6: Release from Escrow & Receive NEO

  • After successful payment verification, Remitano will initiate the release process.
  • The escrowed NEO is sent from the seller’s wallet to your Remitano wallet.
  • Once in your wallet, you are free to hold the NEO, send to another wallet or trade for other currencies.

Ensure you have a safe NEO wallet to transfer the purchased coins to for long-term holding.

And that’s it! By following these steps you can easily buy NEO on Remitano using your preferred payment option. The whole process is designed to be quick and secure for both buyers and sellers.

Tips for Buying NEO on Remitano

To ensure a smooth experience purchasing NEO on Remitano, here are some useful tips:

  • Start small – test with smaller trades first to get familiar with the platform.
  • Check seller reviews – transact with sellers that have high ratings and positive feedback.
  • Set price alerts – to buy at desirable rates since the prices fluctuate frequently.
  • Use escrow – only release payment after confirming the seller has sent your NEO.
  • Verify payment details – double check the provided payment information before sending funds.
  • Communicate – ask the seller any clarifying questions before and during the process.
  • Enable 2FA – two-factor authentication provides an extra layer of account security on Remitano.
  • Withdraw NEO – transfer purchased coins to a private wallet you control rather than leaving on the exchange.

Buying from reputable sellers and taking precautions will make the process smooth and risk-free.

Common Payment Methods on Remitano

Remitano offers several payment options to cater to different buyers based on their convenience and location. Here are some of the most commonly used payment methods:

Bank Transfer

This includes local bank transfers, IMPS, NEFT, wire transfers, etc. It allows buyers to directly transfer fiat currency from their bank account to the seller’s bank account as per the provided details. Bank transfers offer high spending limits.

Gift Cards

Various brands of gift cards like Amazon, iTunes, Google Play, Steam, etc. can be used to pay sellers on Remitano. Buyers can purchase eligible gift cards using cash or card then use the codes to complete payments.

Cash Deposit

Buyers can deposit fiat cash directly into seller’s bank accounts via over-the-counter transfer or ATM deposit at supported banks. The seller provides the necessary deposit information. This allows anyone to pay with physical cash.

Mobile Money

Mobile money payment services like M-Pesa, EcoCash, Paytm, GCash, etc. allow payments directly from a mobile money account. This option is common in certain countries like Kenya, Nigeria, and India.

The wide range of payment methods makes buying NEO accessible to users based on their unique circumstances.

Pros and Cons of Buying NEO on Remitano

Let’s summarize some of the key advantages and potential downsides of buying NEO through Remitano:

Pros

  • Easy and intuitive user interface
  • Beginner friendly onboarding
  • Low trading fees
  • Multiple payment options
  • Secure escrow system
  • High liquidity for NEO
  • Supports P2P trading and OTC deals
  • Available globally with web & mobile apps

Cons

  • Can take time to get fully verified
  • Limited payment methods in some countries
  • Higher chance of fraud with bank transfers/gift cards
  • May need to compromise on price for convenience
  • Doesn’t support margin or derivative trading

Overall, Remitano makes it simple and affordable for everyday buyers to invest in NEO. But users need to be aware of the limitations and potential risks of using a P2P platform.

Remitano Fees

Remitano applies minimal fees to keep transactions affordable for users. Their fee structure is as follows:

  • Buyers pay 0.5% per trade as a service fee.
  • Sellers pay 0.5% per trade as a service fee.
  • Deposits into Remitano wallets are free.
  • Withdrawals from Remitano wallets are charged a dynamic miner fee.
  • No fees for cancelling orders or trades that don’t complete.

Based on average NEO price of $15, buying $100 worth would cost the buyer just $0.50 as service fee which is favorable compared to centralized exchanges.

Conclusion

In summary, Remitano provides a quick, easy, and affordable peer-to-peer marketplace to buy NEO using multiple payment methods. The escrow system and positive buyer-seller ratings help facilitate trusted transactions. Make sure to take precautions like small trades first and communicating clearly with the seller. Consider enabling 2FA and withdrawing to an external wallet for better security of your NEO assets. Overall, Remitano serves as a great on-ramp for easily acquiring NEO exposure.

FAQs on Buying NEO on Remitano

Is Remitano safe to buy NEO?

Remitano employs security measures like escrow and two-factor authentication to create a safe trading environment. Checking seller ratings and starting with small trades can help avoid issues.

Can I buy NEO with cash on Remitano?

Yes, Remitano supports cash payments via in-person cash trades and cash deposits into seller accounts at supported banks and financial institutions.

Are there limits for buying on Remitano?

Remitano has no general limits but sellers often set minimum and maximum limits on trades. Verification levels also impact buy/sell limits imposed by Remitano.

Does Remitano have an app?

Yes, Remitano offers mobile apps for both iOS and Android to complement its web platform. This allows easy access to trading on the go.

How long does NEO transfer take after payment?

NEO transfers typically take 5-30 minutes after the seller marks payment as completed. In rare cases, it may take several hours if there are delays confirming bank payments.