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📋 How We Review: We score P2P exchanges on fees (30%), security (25%), coin selection (20%), user experience (15%), and customer support (10%). We don’t take payment to change verdicts.
Remitano is a P2P crypto marketplace using an escrow system to protect trades between buyers and sellers. The name comes from “remittance” — its original mission was making cross-border value transfer easier. Founded in 2015 by Babylon Solutions Limited (Seychelles), it serves 6 million users across 50+ countries, with particularly strong adoption in West Africa (Nigeria, Ghana), Southeast Asia (Vietnam, Malaysia), and South Asia. In September 2023, Remitano’s hot wallet was breached for ~$2.7 million — Tether froze approximately $1.4 million USDT of stolen funds, but affected users were not officially compensated. This is a meaningful distinction from exchanges like BingX or Phemex that covered all user losses.
⚡ TL;DR — Remitano
P2P-first crypto platform serving emerging markets. Founded 2015, Seychelles. 6M users, 50+ countries. Best for Nigeria, Ghana, Vietnam, Malaysia.
- ⭐ Rating: 3/5 — reliable P2P for emerging markets; security and compensation concerns
- 💰 P2P fee: 0% for makers (sellers) / 1% for takers (buyers) · Crypto swap: 0.25%
- 🔐 Security: Sept 2023 hack (~$2.7M) — Tether froze $1.4M but users NOT fully compensated · no PoR · no deposit insurance
- 🌍 Strong in: Nigeria, Ghana, Tanzania, Vietnam, Malaysia, Philippines
- 🪙 Coins: BTC, ETH, USDT, LTC, XRP + select altcoins (37 for swap)
- 💡 Unique: 80+ fiat currencies · 50+ local payment methods · escrow protection for all trades
- 🚫 Not available: US users
Table of Contents
Remitano Score Card
| Category | Weight | Score | Notes |
|---|---|---|---|
| Fees | 30% | 3.5/5 | 0% maker / 1% taker on P2P · 0.25% swap · competitive for P2P segment |
| Security & Regulation | 25% | 2/5 | 2023 hot wallet hack ($2.7M, users NOT compensated) · no PoR · Seychelles only |
| Coin Selection | 20% | 2/5 | Focused on BTC, ETH, USDT — not an altcoin platform |
| User Experience | 15% | 3/5 | Simple interface · mobile-first · 50+ local payment methods · 80+ fiat currencies |
| Customer Support | 10% | 2.5/5 | 24/7 live chat · mixed reviews on response quality |
| Overall: 3/5 — Useful P2P platform for underbanked regions; 2023 hack with no user compensation is a key concern | |||
🚨 September 2023 Hot Wallet Hack — $2.7M Stolen, Users NOT Compensated: In September 2023, Remitano’s hot wallet was breached for approximately $2.7 million across multiple cryptocurrencies. Tether froze approximately $1.4 million USDT of the stolen funds. Unlike BingX, Phemex, or BitMart — which all fully covered user losses from company reserves — Remitano did not issue an official statement confirming full user compensation. This is a meaningful distinction. No further breaches since 2023. The platform has no Proof of Reserves and no deposit insurance.
What Is Remitano?
Remitano is a peer-to-peer crypto marketplace where users buy and sell crypto directly with each other using escrow protection. Founded in 2015 by Babylon Solutions Limited (Seychelles), it operates in 50+ countries. The name comes from “remittance” — its original mission was making cross-border value transfer easier for users in regions underserved by centralized exchanges. The platform supports 80+ fiat currencies and 50+ local payment methods, making it particularly valuable for traders in Nigeria, Ghana, Vietnam, Malaysia, and other emerging markets where centralized exchanges have limited local payment support.
How Remitano’s P2P Escrow Works
- A seller posts an ad specifying price, payment method, and trade limits.
- A buyer opens a trade from the seller’s ad.
- Remitano locks the seller’s crypto in escrow.
- The buyer pays the seller directly (bank transfer, mobile money, etc.).
- The buyer marks payment as sent and provides proof.
- The seller confirms receipt → Remitano releases crypto to the buyer.
- If there’s a dispute, Remitano’s team reviews evidence and resolves the case.
💡 Expert Tip: Always check active listings in your specific country before signing up. Remitano’s value depends entirely on having enough local sellers with your preferred payment method. In Nigeria (NGN) and Vietnam (VND), liquidity is generally good with 10+ active offers at any time. In smaller markets, you might find only 2–3 sellers, which means higher spreads and slower trade completion. If Remitano’s local liquidity is thin in your region, Binance P2P typically has deeper order books.
Remitano Fees
| Fee Type | Rate | Notes |
|---|---|---|
| P2P Taker (buyer) | 1% | Applies when buying from existing listings |
| P2P Maker (seller) | 0% | Free for sellers posting ads |
| Crypto Swap | 0.25% | Coin-to-coin direct swap — 37 coins supported |
| Fiat deposit (NGN, ZAR) | Free | Bank transfer for Nigerian naira and South African rand |
| Other fiat methods | Varies | PayPal, Perfect Money, Skrill carry provider fees |
| Crypto withdrawal (BTC) | 0.0005 BTC | Below industry average of ~0.000643 BTC |
Who Should Use Remitano?
Remitano is a good fit if you:
- Are in Nigeria, Ghana, Tanzania, Vietnam, Malaysia, or Philippines — Remitano has the deepest local payment method integration in these markets
- Need to buy/sell crypto with local payment methods (mobile money, regional bank transfers) that centralized exchanges don’t support
- Want escrow protection for P2P trades — disputes are handled by Remitano’s support team
- Prefer a simple, mobile-first interface without order book complexity
This exchange probably isn’t right if you:
- Are concerned about the 2023 hack where users were not fully compensated — Binance P2P or KuCoin have stronger security records for P2P
- Need altcoins beyond BTC, ETH, USDT — Remitano is not an altcoin platform
- Need Proof of Reserves or deposit insurance — Remitano has neither
- Are a US user — not available in the US
Pros and Cons
| ✅ Pros | ❌ Cons |
|---|---|
| Escrow protection for all P2P trades | Sept 2023 hack ($2.7M) — users NOT fully compensated |
| 0% fee for sellers · 50+ local payment methods | 1% taker fee — above centralized exchange rates |
| 80+ fiat currencies · free NGN and ZAR bank deposits | Light regulation — Seychelles only · no US access |
| Strong Africa and Southeast Asia presence | No Proof of Reserves · no deposit insurance |
| Bug bounty program via HackerOne ($2,500–$10,000) | No advanced trading tools, margin, or futures |
Remitano vs P2P Alternatives
| Feature | Remitano | Binance P2P | LocalBitcoins |
|---|---|---|---|
| P2P taker fee | 1% | 0% ✅ | Varies |
| Escrow protection | ✅ Yes | ✅ Yes | ✅ Yes |
| LATAM/Africa local payments | ✅ Deep | ✅ Deep | Moderate |
| Fiat currencies | 80+ ✅ | 100+ | ~100 |
| 2023 hack | $2.7M (not compensated) | ✅ None | Limited issues |
| Proof of Reserves | ❌ No | ✅ Yes | N/A |
| Coins | BTC, ETH, USDT + few | 500+ ✅ | BTC focused |
FAQs
Is Remitano safe to use?
Remitano’s escrow system protects individual trades — you won’t lose funds mid-trade. However, the September 2023 hot wallet hack ($2.7M) — where affected users were not officially fully compensated — is a meaningful concern for exchange-level security. Use Remitano for executing P2P trades, not for storing crypto. Move funds to your own wallet immediately after each trade. There’s no Proof of Reserves and no deposit insurance.
Which countries does Remitano support?
Remitano operates in 50+ countries with particular strength in Nigeria, Ghana, Tanzania, Cameroon, Vietnam, Malaysia, and Philippines. Liquidity varies by country — Nigeria (NGN) and Vietnam (VND) have the most active P2P offers. Check your specific country’s active listings before deciding to use the platform.
Bottom Line: Remitano is the right tool for users in Nigeria, Ghana, Vietnam, Malaysia, and other regions where centralized exchanges have limited local payment support. Its escrow model provides meaningful trade protection. The 2023 hack where users were not fully compensated and the absence of Proof of Reserves are genuine concerns — don’t keep funds there long-term. Check liquidity in your specific market before committing. For deeper P2P liquidity globally with zero taker fees: Binance P2P leads. For emerging market-specific fiat rails where Binance P2P is thin: Remitano remains a strong regional option.
📋 Related Reviews: Binance Review | KuCoin Review
📊 Comparisons: Remitano vs Binance P2P
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