Remitano Review

If you've been looking for a cryptocurrency exchange that offers peer-to-peer services, chances are you've stumbled across Remitano. It is, after all, one of the older platforms with a decent base of active users. But let's be honest: just because the exchange has 10 years of experience doesn't mean it's without flaws, and I'll break down both sides of the coin in this Remitano review.

Remitano started as an exchange that specializes in P2P trading but has since expanded to other crypto offerings. It might not have the same level of fame as big players like Binance or Bybit, but it still brings some pretty interesting features to the table.

Verdict at a Glance: Remitano is a P2P-focused exchange that provides token swapping, crypto lending, and various earning opportunities. While the platform is user-friendly and straightforward, it has experienced a breach before and is currently not regulated in the US. That being said, Remitano continues to upgrade its security measures to better protect its users.

What is Remitano?

Remitano is a platform where users can trade cryptocurrencies with one another quickly and securely.

Launched in April 2014 by Babylons Solutions Limited, the exchange was created with the goals of connecting people to blockchain and bridging the gap between traditional fiat and cryptocurrencies.

In fact, the name “Remitano” is inspired by the word “remittance”, reflecting its goal to make transferring value easier between users globally. But how does the Remitano exchange achieve that? For starters, it provides its users with an easy-to-use platform that supports quite a wide range of payment methods.

Some user Remitano reviews on websites like Trustpilot describes the platform as easy to navigate. Some people even mention that the platform has made their trading experience efficient and enjoyable.

Besides facilitating an intuitive user interface, Remitano provides users with 24/7 live chat support to help them whenever they need it. Moreover, if you look up “what is Remitano”, you’ll notice that the platform is also quite active across multiple social media channels such as X, Instagram, Facebook, Discord and Telegram.

As of writing, Remitano serves about 6 million active users in over 50 countries around the world. The platform is planning to reach more users in the future and is constantly improving its services to enhance the trading experience.

Remitano Review: Pros

Beyond the platform’s main P2P offering, users can also enjoy token swapping, crypto lending, and even participate in liquidity pools. But what really sets the platform apart from other exchanges?

Strong Security Measures

The first question that probably comes to anyone’s mind when reading this review is, "Is Remitano safe?”.

From my observations, I can say that the platform has well improved its security. Back in 2024, Remitano suffered a data breach from a third-party source that compromised sensitive information. This resulted in the loss of approximately $2.7 million worth of cryptocurrencies, which then dropped Remitano exchange rates.

Remitano's security team swiftly responded to the attack, managing to get Tether to freeze $1.4 million USDT of stolen funds. The platform also promptly notified users about the hack, assuring their assets remained safe and only a small amount of funds from hot wallets were affected.

Naturally, it’s humane to be wary of using exchanges that have suffered hacks. However, incidents like this are more frequent in the crypto space than you’d think. Exchanges, regardless of their sizes, have experienced breaches before. Just in 2023 alone, the total amount of stolen funds across the industry reached a total of $1.7 billion.

So, is the answer to the question, “Is Remitano safe?” a hard no? I’d argue the opposite. In most cases, Remitano managed to overcome hacking attacks with stronger and better security measures.

The exchange has since reinforced multiple security layers to protect users. First and foremost, only a small percentage of funds are kept in hot wallets for immediate transactions. The majority of users' funds are now stored in cold wallets, which remain offline, so the risk of hacking is significantly reduced.

Additionally, users are encouraged to activate two-factor authentication (2FA) through applications like Authy or Google Authenticator to prevent account theft.

If there is suspected unauthorized access or potential hacking attempts, users can immediately activate the emergency lock feature. Doing so instantly restricts your account and prevents any transaction or withdrawal from being made until further verification is completed.

Moreover, Remitano recognizes the importance of users’ participation in keeping the platform safe. To encourage security researchers, it implements a bug bounty program. A valid report of possible software vulnerabilities in the platform's services is rewarded up to $10,000.

In addition, the platform has reinforced a tiered KYC verification system and partnered with top-tier security firms to further ensure user protection.

Based on the fact that the exchange has been breach-free for some time, it’s fair to say that Remitano is safe. That being said, no matter how secure an application is, it’s still important to take personal precautions. For example, using a cold wallet like Ledger Flex or Trezor Safe 5 can help protect your assets from online attacks.

Stress-Free P2P Trading

After understanding that the exchange is secure enough, now let’s look into its other features. Does Remitano include Bitcoin and other cryptocurrencies in their asset selections?

Let’s find out the answer to that, but first, I’d like to highlight a core aspect of this Remitano review: P2P trading. This feature allows users to enjoy the flexibility of buying or selling cryptocurrencies directly with one another—an aspect that quite many people praise in user Remitano reviews. Bitcoin and many other cryptocurrencies are available for trading through this option.

However, compared to Binance P2P, Remitano's crypto selections are not that extensive, so where does it stand out? On this specific exchange, users can negotiate prices and payment methods without intermediaries.

To keep the transactions between buyers and sellers safe, Remitano uses an escrow service. So, when a trade is initiated, the assets being sold are held in escrow until the payment is confirmed.^[1] Neither party can access the funds until everyone has fulfilled their obligations.

Aside from that, the platform makes P2P hassle-free with its support of various payment methods. Whether you prefer bank transfers, debit or credit cards, cash payments through apps like PayPal or Venmo, or even gift cards, Remitano ensures you have options that fit your needs.

Another perk I haven't seen many user Remitano reviews discuss is the dynamic and fixed price options when creating P2P selling ads. With the fixed option, the crypto price is pre-set according to the user's choice and doesn't fluctuate.

On the other hand, the dynamic option allows users to make offers that reflect the current market price. The cost of the ad will automatically update. So, if the market price of Bitcoin goes up or down, the offer moves, too.

All things considered, with a decade of experience in P2P trading, Remitano has established itself as a reliable platform.

Swap Tokens Instantly

Now, Remitano also offers a token swap feature that allows users to easily exchange crypto and fiat currencies. The types of swaps supported are crypto-to-crypto, fiat-to-crypto, and crypto-to-fiat.

In total, there are 30 cryptos available for swapping. As you'll find in user Remitano reviews, Bitcoin and other top-performing coins like Ethereum and Ripple are still the people's favorites. Besides such options, the exchange lists Litecoin, Bitcoin Cash, and other niche altcoins.

The crypto exchange also supports token swaps with 7 fiat currencies. Here’s the complete list:

✓GHS, ✓KES, ✓MYR, ✓NGN, ✓TZS, ✓VND, ✓ZAR.

If you find token swapping difficult, Remitano simplifies the process and makes it accessible to all users. With its intuitive interface and clear navigation, even first-time traders can navigate the platform effortlessly.

Swapping tokens on Remitano offers two options. The first is the Market Price option, which works like spot trading, allowing trades to be executed immediately at the current market price. The second is the Your Price option, where users can set a target price for the swap. Once the market reaches that price, the swap is executed automatically.

Overall, Remitano streamlines crypto trading with its diverse swap options. Its emphasis on accessibility and ease of use makes it a standout platform for both beginners and experienced traders.

Opportunities to Earn

Curious about the earning opportunities Remitano offers? The platform provides several features that reward users in various ways.

Keep in mind that the rewards mentioned in this Remitano review are accurate as of this writing but may fluctuate over time. As always, it's essential to do your own research (DYOR). Now, let’s explore the different earning options available on this crypto exchange.

Liquidity Pool

If you’re familiar with yield farming on DeFi apps, understanding Remitano's Liquidity feature will be straightforward. For those who aren’t familiar, this feature involves collections of two types of digital assets in a trading pair. Users can add liquidity to either a coin-coin or coin-fiat pair pool.

After adding liquidity to a pool, users earn rewards from a portion of the fees Remitano collects from swap transactions involving that pool. Note that the annual percentage rate (APR) displayed in the "All Pools" section may vary based on the price range selected when adding liquidity.

Lending

Additionally, users can lend their cryptocurrencies to others and earn interest.

To do this, they simply deposit their tokens into Remitano’s secure loan pool, making it a potential way to earn passive income without actively trading.

Referrals

If you'd like to invite friends to join Remitano, there’s an incentive for doing so. Through the referral program, users can earn up to 40% commission on the trading fees generated when their referrals buy cryptocurrencies on the platform.

This commission is credited directly to the referrer’s account, with no limit on the number of referrals. Moreover, users can share a portion of their earnings with friends, creating a win-win situation for everyone.

Mining

One feature not often mentioned in user Remitano reviews is the ability to mine RENEC (Remitano Network Coin), the platform’s native token. Users can mine RENEC at a base rate of 0.02 RENEC per hour.

Mining speed can be doubled by meeting certain conditions, such as inviting a friend or completing specific transactions. Additionally, referring friends to mine through your referral link earns you 20% of the RENEC they successfully mine.

However, this feature is only available after phone number verification. Mining is accessible via Remitano’s mobile app on Android, but iOS users need to use a browser.

Play-to-Earn

Lastly, Remitano offers a game hub where users can participate in Play-to-Earn games. At the time of writing this review, two games are available: Coinlympia and Mystery Planet.

In Coinlympia, users have one chance daily to answer five blockchain-related questions for a chance to earn rewards. Mystery Planet operates as a lucky draw game, allowing users to test their luck by spinning a wheel.

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Remitano Review: Cons

As you can see, the exchange offers a variety of earning programs. However, let’s also examine the platform’s limitations in this Remitano review.

Regulatory Uncertainty in the US

As an exchange aiming to make transferring funds easier globally, Remitano does not clearly specify the countries it serves. This ambiguity leads to questions such as, “Is Remitano available in the USA?”.

If you look up user Remitano reviews, some may say that Remitano USA is available. Moreover, US traders can technically access Remitano without encountering the usual popup warnings seen on restricted exchanges. However, the truth is more complicated than that.

Remitano users are spread across diverse regions, but it is still important to verify whether the platform operates in your jurisdiction, especially if your country requires compliance with local regulations. As you probably know, the United States imposes particularly stringent policies on crypto exchanges.

Such regulations exist to protect US investors and ensure that all financial participants follow existing security laws. The US Securities and Exchange Commission (SEC) considers digital assets to be securities under the Howey Test, meaning they are subject to the same registration, disclosure, and compliance requirements as traditional securities.^[2]

Of course, applying decades-old laws to modern crypto assets can create significant ambiguity, since these regulations were never written with digital assets in mind.

Because there are no clear, specific regulations for the crypto industry, many exchanges operate in a gray area. Out of fear of potential SEC scrutiny, some exchanges become hesitant, even deciding not to expand their services to the US market—which appears to be the case for Remitano.

That said, complying with SEC regulations is not impossible. A number of exchanges, such as Kraken and Coinbase, have managed to do so.

	KRAKEN	COINBASE
Overall Score	9.8	9.6
Best For	Beginners	Advanced Users & Beginners
Operating Countries	United States, Germany, United Kingdom, France, Canada, + 190 more	United States, United Kingdom, Germany, Canada, France, + 100 more
Latest Coupons	Visit Site All Kraken Coupons	GET $200 REWARD All Coinbase Coupons
Verdict	One of the best crypto exchanges, especially in the US.	A reliable, well-known and respected cryptocurrency exchange platform.
	Visit site Read review	Visit site Read review

Table: Kraken VS Coinbase comparison

As for Remitano, the platform has fulfilled one of the SEC’s key requirements: KYC verification. However, there are multiple compliance factors, and it is unclear whether Remitano meets all SEC regulations.

To complicate matters further, the website does not specify whether there is a “Remitano USA”. To clarify, I reached out to Remitano’s customer support, who confirmed that the platform does not offer services for US-based users.

So, what is the real answer to “Is Remitano available in the USA?”. Technically, you can access the platform. However, it is not officially regulated in the US. Remitano emphasizes that it is each user’s responsibility to comply with the laws of their respective countries when using its services.

One thing is certain: Vietnam, Nigeria, South Africa, Kenya, Ghana, and Malaysia are among the countries where Remitano is officially allowed to operate, as mentioned on the website.

Limited Token Support

Aside from Remitano USA being unavailable, another hurdle for traders—especially those looking to diversify their crypto portfolios—is the platform’s limited token or coin support.

Remitano supports only 30 cryptocurrencies, which is relatively small compared to other exchanges. For instance, Bybit supports well over 1,000, illustrating a significant difference.

As a global crypto exchange, Remitano also does not list many meme coins. If you have followed crypto news for some time, you are probably familiar with the craze surrounding these humor-injected tokens.

Of course, you can swap top-reigning meme coins such as DOGE and SHIB. But what about PEPE or the latest sensation, HOSKY? These are not available on the Remitano crypto exchange.

So, if you want to fill your crypto wallet with more meme coins—or other types of cryptocurrencies such as DeFi or DePIN—you may want to consider Binance. This exchange is often one of the earliest to list new crypto hits, as evidenced by its Launchpad program.

Remitano Fee Structure

We have explored Remitano’s strengths and limitations. To make this Remitano review complete, let us now shift our focus to its fee structure.

Remitano’s fees are transparent and reasonable, with clear breakdowns for each service. Let’s start with its core feature: P2P trading. Remitano charges a 1% maker/taker fee on the price set in the ad for P2P transactions.

Not to worry—the P2P fee is included in the displayed price when you finalize your trade, so there are no hidden costs. For example, if a seller lists 1 BTC at $5,000, then the buyer pays $5,050 (including the 1% fee), and the seller receives $5,000 after the fee is deducted.

For token swaps, the platform charges a 0.25% exchange fee, which is deducted from the estimated value of your order when you initiate a swap transaction.

What about deposits and withdrawals? The good news is that Remitano does not charge fees for these. However, Remitano processes requests through multiple bank accounts, and this may incur fees depending on your bank or payment method.

How to Use Remitano

After looking through the pros, cons, and fees in my Remitano review, you’re probably wondering how to use the platform. Thankfully, Remitano is available on both PC and mobile. As an example, I’ll show you how to register your account on your PC.

How to Sign Up on Remitano

To create your Remitano account, follow this step-by-step guide.

Step 1: Go to the Remitano exchange homepage and click on the “Register” button at the top right.

Step 2: Enter your email and then click on the “Login/Register” button. There are also options to link your Google or Facebook account. If you want to link your Apple ID instead, go to the top right corner of the page and click the “Register” button, then “Continue with Apple”.

Step 3: Check your inbox for a verification email from Remitano. If you don’t receive it, check your spam folder. Click the link in the email to confirm your account registration.

Step 4: Fill in your username and tick the Terms of Service and Privacy Policy agreement boxes. Finish your registration by clicking “Continue”. That’s it!

Signing up on Remitano is quite simple. To use the features fully, you’ll need to verify your identity using an ID card, passport, or driver’s license as part of the KYC verification.

How to Buy Crypto on Remitano P2P

Now that you’re registered, I’ll show you how to start trading on the platform. For this Remitano review specifically, let’s take a look at how to buy crypto through the P2P feature using the fixed price setting.

Step 1: Click the “Buy Sell Crypto” button at the top of Remitano’s homepage.

Step 2: Once you’re taken to the P2P trading page, click the “New Ad” button.

Step 3: Choose the crypto you want to buy, the currency you want to use, your payment method, and the payment time limit. Then, click “Next”.

Step 4: There is an optional "Terms of Trade" box where you can communicate your conditions to potential sellers. You can specify any requirements or preferences to ensure smoother transactions. Under this box, you can set an auto-reply message to keep communications efficient. Once you’re done, click on “Preview”.

Step 5: Double-check your buying ad information to make sure all details are correct.

If everything looks good, click “Post”, and your ad is live!

Pros

• Secure and reliable
• Low fees
• A good amount of fiat currencies accepted

Main Features

• Reputable exchange
• Multiple fiat currencies are accepted
• Relatively low trading fees

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Pros

• Fiat currencies - accepted
• Simple to use
• Accepts only the most trustworthy cryptocurrencies

Main Features

• A leading cryptocurrency exchange platform
• Best for beginner investors
• Accepts fiat currencies

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions

We've reached the end of my Remitano review. To sum it up, Remitano is a user-friendly platform offering P2P trading alongside token swapping and various earning opportunities like liquidity pools and crypto mining.

Furthermore, Remitano seems to be a pretty safe exchange. Despite the past security breach, it has since strengthened its platform’s integrity.

However, the crypto exchange does have a drawback. It’d be good if Remitano could be more transparent regarding its availability in the US. For US traders looking for well-rounded exchanges, there are alternatives like Kraken. But if you're elsewhere, you can check out Binance or Bybit, too.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. CSIRO Data61: ‘Escrow’;

2. Dubow J., Cline J., Krnjaja M.: 'SEC Continues to Regulate Cryptocurrency Through Record-High Enforcement Efforts'.