REMITANO Assessment

Remitano is an online cryptocurrency trade model which was set up primarily to serve the rising market economies of the world. Remitano is owned and operated by Babylon Solutions Ltd, a Seychelles-based mostly company.

Remitano set up shop in 2014 and was born out of the rising demand for Bitcoin trading in the emerging markets of Africa, South America, and the Center East. Remitano provides the trading of Bitcoin, Ethereum, Tether and Bitcoin Cash.

Remitano supplies a platform the place holders of these cryptocurrencies can trade with every other. Remitano holds consumers’ funds in escrow, then permits sellers to list their crypto property for sale. When a vendor completes the switch of the altcoin or Bitcoin to the client’s pockets, Remitano places this in an escrow pockets, thus locking them. The client then transfers the agreed trade quantity in fiat currency to the vendor’s account, and takes a transaction payment for the service provided, then remits the locked cash to the buyer.

Just like many other exchanges world wide, Remitano isn't a regulated trade and does not operate in a regulated environment. Seychelles traditionally has a very liberal view on monetary market regulation so it is extremely probably that even if regulations are instituted, enforcement will likely be minimal.

Up to now, apart from just a few minor cases of tried scams by sellers (which have been detected and dealt with by the Remitano staff), Remitano has proven to be a reliable exchange. Peer-to-peer direct transactions between events are one of many topmost strategies of cryptocurrency trading, and by offering a protected atmosphere 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 status metrics system which gives lots of info that a buyer can use in assessing the authenticity of a seller.
Feedback scoring system.
A full KYC process the place sellers are identified by their authorities ID documents.
Login protection utilizing an email verification system.
Trade timeouts after a interval of inactivity, which requires the parties to begin the process again and establish themselves.

Trading Platforms
Remitano options platforms on which its service is run.

There's a web-based platform which enables patrons and sellers to connect with each other. The web-based mostly platform options the trading interface which lists sellers as well as their fame metrics.

Remitano Mobile Trading
There may be also the mobile app which is featured on the App Store and Google Play store. It offers the identical features as the web-based mostly portal and is suitable for individuals who like to conduct transactions on the go.

Trade Types/Instruments
Remitano offers users the opportunity to purchase or sell the following cryptocurrency property in exchange for fiat foreign money:

Bitcoin (BTC)
Ether (ETH)
Tether (USDT)
Bitcoin Cash (BCH)
The trades are strictly on a buy or promote basis. The sellers list the costs at which they may sell their crypto assets. Buyers have the freedom of scrolling by means of the list of sellers and the prices at which they'll promote their crypto belongings and make their trade selections accordingly.

Account Types
Three account types exist on Remitano. These are:

Commissions and Spreads
The charge construction on Remitano could be very simple. The corporate takes a 1% transaction charge on all transactions carried out between patrons and sellers, as fee for its escrow service. This fee additionally covers the Bitcoin transaction cost paid to miners. The price is taken upfront when the listing is done.

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