Overview
Remitano was founded in 2014 and is headquartered in the Seychelles. The platform operates as a peer-to-peer (P2P) cryptocurrency exchange with a built-in escrow service that facilitates trades between buyers and sellers. Rather than matching orders on a centralized order book, Remitano connects individuals who want to buy or sell Bitcoin and other cryptocurrencies using their local currency and preferred payment methods.
The platform has found particular traction in developing markets, including countries across Africa (Nigeria, Ghana, Kenya), Southeast Asia (Vietnam, Malaysia, Cambodia), and parts of Latin America. In many of these regions, access to traditional centralized exchanges is limited due to banking restrictions or lack of local currency support. Remitano addresses this by supporting a wide variety of local payment methods, including bank transfers, mobile money, and other region-specific options.
Remitano's escrow system is the core of its trust model. When a trade is initiated, the seller's cryptocurrency is held in escrow by the platform. The buyer then sends payment directly to the seller through their agreed-upon payment method. Once the seller confirms receipt, the escrow releases the crypto to the buyer. If a dispute arises, Remitano's support team mediates. This approach provides a layer of protection that direct peer-to-peer transfers cannot offer.
Getting Started
- Step 1: Create an account at remitano.com or download the mobile app. Register with your email address and phone number.
- Step 2: Complete identity verification by uploading a government-issued ID. KYC requirements may vary by country, but verification is generally required before trading.
- Step 3: Browse available buy or sell offers in your local currency. Each listing shows the seller's price, payment methods accepted, and trade limits.
- Step 4: Initiate a trade and send payment to the seller using the agreed method. Once the seller confirms receipt, the escrowed cryptocurrency is released to your Remitano wallet.
Pros & Cons
- Pro: Escrow-based P2P model supports a wide variety of local payment methods across many countries.
- Pro: Strong presence in developing markets where centralized exchange access may be limited.
- Pro: Dispute resolution service provides a safety net for P2P transactions.
- Con: P2P trading can be slower than instant order matching on centralized exchanges.
- Con: Pricing depends on individual sellers, so rates may carry a premium compared to spot market prices.
- Con: Limited selection of cryptocurrencies compared to major centralized exchanges.