Remitano – Exchange review

What Is Remitano?

Remitano is first and foremost a P2P market. Buyers and sellers post their offers, the deal goes into escrow, and coins move only after payment is confirmed. That simple mechanism gave it trust early on. Over the years new layers appeared – quick swaps, small lending products, liquidity pools, referrals, even a native token called RENEC.

Pros: What’s Cool

The site is clean and straightforward. Nothing flashy, no endless menus. People log in, click, and trade. The mobile app works fine too, which matters in regions where most users rely on phones.

Security is not ignored. Two-factor login, biometrics, anti-phishing codes. There’s also a bug bounty program that promises up to 10k for major finds. It’s not bulletproof, but it shows they take risks seriously.

Escrow keeps peer-to-peer trading alive. Funds stay locked until the other side pays. That one feature removes a lot of fear from direct deals. Flexible payment options add to the appeal.

Swaps let you switch between crypto and fiat, or just crypto pairs, with floating or fixed rates. Passive income is possible too – users can lend coins, drop liquidity, mine RENEC, or invite friends and share up to 40% of their trading fees.

Cons: Where It Stumbles

There’s no proof of reserves. No insurance either. If something breaks, users are on their own. That is a heavy risk.

In 2023, hackers managed to take about 2.7 million dollars. Reports said compensation never came. For an older platform, that left a scar.

The asset list is thin. Around 30 coins in swaps, fewer than 40 in total. If you’re hunting for variety, this isn’t the place.

Advanced trading is missing. No margin, no futures, no complex order types. Just basics. Fine for entry level, frustrating for pros.

Support replies quickly, but answers aren’t always clear. Some users mention half-solutions or confusing instructions. Availability is also mixed: while Remitano claims more than 110 countries, restrictions are noted in Australia, Canada, France, Singapore, Malaysia, and more.

Fees: What It Costs

Peer-to-peer trades cost 1% – already baked into the price. No surprises.
Swaps take 0.25% per trade, charged at the start.
Deposits and withdrawals are free from the platform side, but banks and payment providers may still cut their share.

User Trust & Reputation

Most community feedback is positive. People like the interface, the simple workflow, and the feeling of safety from escrow. But experts highlight the weak points: no regulation, no reserves, and that past hack. Trust is divided. Casual users keep trading, cautious ones look elsewhere.

Market Snapshot

Reported daily volume hovers around 3.4 million dollars, roughly 31 BTC. Remitano does not publish reserves. Still, the exchange claims 3 million users and coverage across more than 50 countries.

Final Thoughts

Remitano works well as an entry door into crypto. Simple design, peer-to-peer trades, light passive income options. It’s popular in Vietnam, Nigeria, and Malaysia, where banking access is tricky.

But it is not a full solution. Lack of transparency, limited assets, and security scars make it risky for big capital. It fits beginners, small traders, and anyone who just wants a quick crypto-fiat bridge. For larger moves, serious portfolios, or long-term storage, it should only be a side tool, not the main one.