The year 2018 is not a very easy one for cryptocurrencies. Bear markets, hacks, security threats, countries that refuse to regulate them, and so forth. However, one thing is for sure: 2018 is a very good year for cryptocurrency exchanges, which are more popular now than ever.
From massive exchanges that literally dominate the scene to small and quirky services that offer various benefits for their users, there’s a cryptocurrency exchange for anyone out there. That said, you might be interested in checking out Remitano, one of the most interesting cryptocurrency exchanges out there.
What is Remitano?
Remitano’s name stems from the word “remittance,” and it is a peer-to-peer, decentralized, online trading platform that allows users to purchase or sell Bitcoin, Ethereum, and Bitcoin Cash among themselves in exchange for fiat currencies. Hence, Remitano is not a cryptocurrency exchange in the true sense, but rather more of a decentralized remittance platform. Be that as it may, it’s imperative to know that despite this fact, Remitano also allows leveraged trading like most cryptocurrency exchanges.
One of the basic features of Remitano is that it provides escrow trading. This means that an alleged seller of cryptocurrencies can send the tokens on which a trade has been agreed. The tokens are held by Remitano in escrow, and the buyer sends the money directly to the seller. After this process is completed, the coins are transferred to the buyer.
Why is Remitano appealing?
This might be big a no-no for various privacy oriented individuals who may consider that since the crypto transfer passes through Remitano, the platform is not an entirely decentralized platform.
One of the main advantages of Remitano is the fact that it offers an e-wallet service. This option allows users to transfer money internationally. Another benefit is represented by the platform’s security. Remitano boasts two-factor verification and encrypted data storage. Not only this, but Remitano also has a reputation system that displays the trading history of each trader, making it very easy to expose fraudsters. The final step towards ensuring complete security on the platform is represented by Remitano’s support team. In short, this team’s job is to solve any conflicts between sellers and buyers.
According to various reports, Remitano is no slouch either, boasting very fast transaction speeds. Even better, the platform doesn’t have limitations regarding the amounts you can buy or sell. Last but not least, Remitano has lower fees than most other platforms (0.5%). However, potential users should keep in mind that the prices are a bit higher than the market price.
A few words about Remitano’s trading features
When it comes to using Remitano, the platform does a good job of ensuring that all types of users will know their way around it easily. The login, sign-up procedures are very straightforward. Once users have selected a country from the drop-down list, the platform displays a list with all the sellers and buyers from the respective location. One important thing to note here is the fact that the exchange rates of the cryptocurrencies are displayed in the place’s local currency.
The platform displays a list with all the offers, everything that is being purchased or sold, as well as all the necessary information about the payment methods. Speaking of payment methods, the platform supports Wire Transfers as well as cash deposits.
Users will encounter tags such as “frequent buyer,” “new user,” and “slow seller,” as well as feedback, verifications, and ratings. Remitano is available for users from more than 30 countries, and it includes United States, Australia Canada, New Zealand, Russia, Japan, China, Brazil, UK, Denmark, Sweden, and many others.
As good as the service might be, Remitano is not perfect. Its drawbacks include the fact that it’s an offshore company (which is not yet regulated), it has a limited set of listings and the fact that it’s only available in some countries. On the upside, Remitano supports local currencies, its fees are comparable to those of other crypto exchanges, it has escrow trading, and it’s very user-friendly and very secure.
Considering its limitations when it comes to buying and selling crypto, it’s especially handy for beginner traders.