Remitano is a web-based cryptocurrency trade model which was arrange primarily to serve the emerging market economies of the world. Remitano is owned and operated by Babylon Solutions Ltd, a Seychelles-primarily based company.
Remitano set up shop in 2014 and was born out of the rising demand for Bitcoin trading within the emerging markets of Africa, South America, and the Middle East. Remitano presents the trading of Bitcoin, Ethereum, Tether and Bitcoin Cash.
Remitano offers a platform where holders of these cryptocurrencies can trade with every other. Remitano holds consumers’ funds in escrow, then allows sellers to list their crypto assets for sale. When a vendor completes the switch of the altcoin or Bitcoin to the buyer’s pockets, Remitano places this in an escrow pockets, thus locking them. The customer then transfers the agreed exchange quantity in fiat foreign money to the seller’s account, and takes a transaction price for the service supplied, then remits the locked coins to the buyer.
Just like many different exchanges all over the world, Remitano just isn’t a regulated exchange and doesn’t operate in a regulated environment. Seychelles traditionally has a really liberal view on financial market regulation so it is vitally probably that even if rules are instituted, enforcement can be minimal.
To date, apart from a number of minor cases of tried scams by sellers (which had been detected and handled by the Remitano group), Remitano has proven to be a reliable exchange. Peer-to-peer direct transactions between events are one of the topmost methods of cryptocurrency trading, and by offering a safe surroundings for consumers and sellers to transact, Remitano has introduced some reliability and transparency to the alternate ecosystem.
Remitano has in place some security features to improve the reliability of its platform.
A 2-factor authentication process for initiating transactions.
The escrow system.
The seller repute metrics system which offers loads of information that a purchaser can use in assessing the authenticity of a seller.
Feedback scoring system.
A full KYC process the place sellers are recognized by their government ID documents.
Login safety utilizing an electronic mail verification system.
Trade timeouts after a interval of inactivity, which requires the parties to start the process once more and determine themselves.
Remitano options platforms on which its service is run.
There is a web-primarily based platform which enables consumers and sellers to attach with every other. The web-based platform features the trading interface which lists sellers as well as their popularity metrics.
Remitano Mobile Trading
There is additionally the mobile app which is featured on the App Retailer and Google Play store. It supplies the same features as the web-primarily based portal and is suitable for many who wish to conduct transactions on the go.
Remitano affords customers the opportunity to buy or sell the following cryptocurrency belongings in exchange for fiat currency:
Bitcoin Cash (BCH)
The trades are strictly on a purchase or promote basis. The sellers list the costs at which they will sell their crypto assets. Buyers have the freedom of scrolling by way of the list of sellers and the prices at which they will sell their crypto assets and make their trade choices accordingly.
Three account types exist on Remitano. These are:
Commissions and Spreads
The charge structure on Remitano could be very simple. The corporate takes a 1% transaction cost on all transactions achieved between patrons and sellers, as fee for its escrow service. This fee also covers the Bitcoin transaction cost paid to miners. The charge is taken upfront when the listing is done.