Introduction
Remitano is a peer-to-peer exchange that has operated since 2014. Registered in Seychelles, it became popular across Asia and Africa as a direct trading hub without the heavy structure of centralized exchanges. It feels old-school, but in a positive way.
What is Remitano?
At its core, Remitano is a P2P market where buyers and sellers post offers, funds move into escrow, and release only after payment is confirmed. Over time, new features were added: quick swaps, lending, liquidity pools, referrals, and a native token called RENEC.
Pros
- Clean, straightforward site and mobile app for easy access.
- Security tools like 2FA, biometrics, anti-phishing codes, and a bug bounty program.
- Escrow-protected trades reduce risk in peer-to-peer deals with flexible payment options.
- Extra features like swaps, lending, liquidity mining, and referrals with up to 40% fee share.
Cons
- No proof of reserves or insurance - users carry all risk.
- A 2023 hack took ~$2.7M, with reports of no compensation to users.
- Thin asset list - ~30 coins only.
- No advanced trading (margin, futures, complex orders).
- Support is mixed - quick replies but unclear or partial answers.
- Restrictions in several countries, including Australia, Canada, France, and Singapore.
Fees
P2P trades carry a 1% fee baked into the price. Swaps cost 0.25% per trade. Deposits and withdrawals are free on the platform side, though banks/payment providers may charge extra.
User trust & reputation
Community feedback is mostly positive about the interface and escrow system. But experts highlight weak points: lack of regulation, no reserves, and past hacks. Trust is split between casual users and cautious traders.
Market snapshot
Reported daily volume is about $3.4M (~31 BTC). Remitano claims 3M users and presence in 50+ countries, but publishes no reserves data.
Quick overview table
| Feature | Details |
|---|---|
| Launch Year | 2014 |
| Base | Seychelles |
| Core Model | P2P with escrow, swaps, lending, liquidity |
| Coins | ~30 listed |
| Volume | ~$3.4M daily (~31 BTC) |
| Strengths | Simple UI, escrow safety, security tools, passive income features |
| Weaknesses | No reserves, past hacks, thin assets, no advanced trading |
Final word
Remitano is a strong entry point into crypto in regions like Vietnam and Nigeria. Its simple design, escrow trades, and passive income tools make it accessible. Yet, lack of transparency, limited assets, and past security issues make it risky for serious capital. Best suited for beginners or small traders needing a quick fiat bridge, not as a primary hub.