WHAT IS BITCOIN
Before you learn how to buy and sell bitcoin on Remitano its important you understand what it does for you and the information in this article is the right one for you.
In here are answers to some related questions such as what is bitcoin? is it safe to invest on Bitcoin-Remitano? How can I open an account on Bitcoin-Remitano?
Also you can read my Remitano review, it is informative, you would definitely need to read through it as well.
Okay, let’s get started!
Bitcoin also known as BTC in short terms is a visual currency or decentralized digital currency that allows you to buy, sell and exchange directly, without any central control or intermediary like banks or governments.
Bitcoin is recorded and distributed in a public leger called blockchain. Bitcoin is one of the first digital currencies or electronic cash system to use peer to peer technology in order to enable quick payment. It secures and support peer to peer software like Remitano.
Bitcoin can help you attain your goals as it functions as
- Accessibility And Liquidity Currency: Since it can be used to exchange for other currencies, product or services can be purchased from ever-rising places accepting it.
- Bitcoin is a store value like gold
- There is no independent from central authority therefore you are in control of your money, this simply means that authorities will likely not freeze and demand for your coins.
Bitcoin is one the oldest and most popular cryptocurrency in the world today, launched in 2009 and was created by Satoshi Nakamoto, presumed to be a pseudonym person or persons who penned, the original Bitcoin whitepaper.
Satoshi Nakamo, Bitcoin creator originally described the need for an electronic payment system based on cryptographic proof instead of trust without the purpose of a trusted third party.
IS IT SAFE TO INVEST ON BITCOIN- REMITANO?
Trading on Bitcoin is similar to trading on other currency. However, what you must keep in mind is that for Bitcoin its price rises and falls.
One of the benefit of Bitcoin is that you either need to hold the coins yourself or trust a third party to do it.
Holding them yourself means you are at owner’s risk and if you don’t store them properly you could as well lose them.
Also, If you accept that and a third party hold them for you they might probably get hacked. Unlike paper money once the coins are hacked, they cannot be replaced.
But in a situation whereby an institution holding your Bitcoins gets hacked, they might cover the loss because they can meet the expense which is good for you.
However, what you must know is trading on Bitcoin “is highly risky for investment” compared to other cryptocurrency. James Ledbetter, editor of fintech newsletter FIN and CNBC contributor, told CNBC Make It. “If you look historically at the price of bitcoin, there have been a number of occasions where it’s really spiked and then comes crashing down really quickly.”
For example, in $20,000 in 2017, the price of Bitcoin collapsed and lost a third of its value in a single day, and in 2018, it dropped to $3,122, losing tons of billions of dollars from the total cryptocurrency market value.
While Bitcoin traders can earn profits on it. It can also mean big losses.
That’s why some investor like Mark Cuban, advise to invest only as much money as you can afford to lose.
Again, the choice is yours to make.
COUNTRIES THAT ACCEPT BITCOIN ON REMITANO
Here are the lists of African countries that supports Remitano.
- South Africa
- Cote d’ivoire
Other Countries Are
- United Kingdom
- New Zealand
- United States
WHAT YOU MUST DO BEFORE BUYING ON REMITANO
- Select your country choice. Click on the drop-down menu
- Seller’s reputations are displayed on their profile it is best to select a seller with a good reputation
- Research on the seller’s transaction history to more about their past transaction with other people.
WHAT YOU MUST WATCH OUT FOR BEFORE SELLING ON REMITANO
Remitano is the largest p2p trading on platform, however there are fraudsters sabotaging its benefits to Remitano users. The guidelines here are 99.9% effective to alert you if there are any form of scammers intruding your privacy while trading on Remitano. Beware!
- Verify seller’s identity
- 98% of positive report from (minimum of 11 persons)
- At least 1-2 months of active trading
HOW TO BUY BITCOIN ON REMITANO
Note: The following steps apply to Bitcoin or USDT and others
On your front page Click on Bitcoin
Click on BTC wallets
Withdrawal, Deposit and History will be displayed. Click on Deposit to copy your BTC wallet address
- Return to BUY/SELL BTC
- On the top of the page click the BUY/SELL BTC, on the Remitano Homepage, scroll down to see the lists of sellers in your country.
- Payment Method accepted on Remitano include Bank/Online banking Transfer/Credit/Debit card
- Click Buy now
Enter the amount you want to buy and enter the BTC address you copied in step 1
Remitano will automatically search for a vendor ready to sell your selected portion.
- Check the available seller to choose
- Check the trading range of your seller and click on the one that suits your purpose.
- Click Buy now
You only have 15minutes to pay the seller then click the I have paid seller. If you have made payment to the seller and you don’t click on the I have paid seller button in 15 minutes the seller’s Bitcoin will be returned and you will lose your own money.
Read and click on the AGREE button and allow the next page to display the account details of the seller to pay into.
Make your payment send returned to the page to click on I have paid the seller, or you cancel the trade if you need to correct a make.
The following transaction is secured by an escrow system on Remitano BTC wallet or USDT and others.
Congratulations you have just purchase Bitcoin on Remitano
HOW TO SELL BITCOIN ON REMITANO
Note: The following steps apply to Bitcoin or USDT and others.
On the Remitano homepage , choose Sell now
Put the amount you want to sell and choose a suitable bank and click sell now
A list of buyers will be displayed select your preferred seller
Fill in your bank account information in which you want the person you are selling to pay
and click continue.
If you already have coins in Remitano wallet, the trade will automatically change to waiting for the buyer to make payment.
If you don’t have coins on your wallet, please ensure you deposit coins into the provided address.
Wait for the system to credit your BTC. After the transaction is confirmed, the trade will automatically change to waiting for the buyer to make payment.
Wait for the buyer to make payment.
Follow the instructions to receive your payment and click on receive payment for the BTC to be release to the buyer.
Remember this instruction applies to Bitcoin on Remitano or USDT and others.
Visit the Remitano customer care for more details, it fast and quick.
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