The latest P2P (peer-to-peer) trading site called Remitano has launched and it's much more like Bitquick or WallofCoins than it is Paxful or Localbitcoins.
It's also up and coming, but not there yet. We took a look at Remitano and here's what we found.
The user interface is modern and sleek. Very useful and responsive so it works well on mobile and tablets and is available for both the Android and iOS platforms (and Win10 mobile for those with side-load powers, but not directly).
|Remitano on Google Play|
Remitano also has a "forced factor" authentication whereas in addition to using your login information of which there is no password, you're sent a new login in link every time you login.
Once inside the platform you're met with a run-of-the-mill dashboard which primarily tracks your performance. The available tabs allow you to view past trades, check your advertisements, and see if you have nay referrals.
Creating a new advertisement to either buy or sell bitcoin is also easily done and straight forward, however, requires identity verification and reputation from buying before you can sell. Which is lame but straight forward nonetheless.
|Create Ad on Remitano|
The Buying Customer
The big question is, what's it look like as far as traders go? Any customers? Success?
Well what we fond is that like the inability to sell bitcoin, we couldn't buy any either, so not only can we not comment on the customer base, we couldn't even buy any to get anyone else point of view either. In fact there was only one seller that showed up on our list,
Granted, Remitano s new, however they may want to consider adding sine buying customers to their platform if they expect any sellers to show up and likewise, they can't buy anything if there's not any sellers selling.
Right now Remitano is a ghost town reminiscent of the once decent BitWallet.cc (Note: BitWallet.cc is technically still alive and working) but operates more like Bitquick with the exception of you actually have an account ... and other traders available.
Remitano is not without issues, they've been called out for fraudulent activity and scamming according to some of the reviews.
In each case Remitano responded and there was no further communication on the issue, so we can only assume the problems were resolved.
That said, I don't know what is more shocking here. The fact that Remitano is already having fraudulent claims or the fact that a buyer actually found a seller on the platform.
That's really the only issue with the platform we found.The lack of anyone actually using it. The security is a but weak as well with only an email securing your bitcoin.
Here's how it stacked up:
|Documentation||Although fairly self-explanatory, help is virtually non-existent.|
|Account Opening||Easy open in minutes.|
|Security||★★||The security isn't great. 2FA is available but not apparent.|
|Ease of Use||Complete with Android and IOS apps. Its simple, clean, and fast.|
|Usability||It appears very usable, there's just nobody using it.|
|Safety||★★||Remitano appears to do KYC, but again, there's nobody to KYC.|
|Overall Score||☆☆||2 out of 5 stars. Needs Improvement.|
It's rather simple Remitano needs people buying and selling bitcoin on their platform to buy and sell bitcoin, because right now there's nobody there. It' hard to build any trust enough to hand over sensitive documents like identification when the service appears unused and unavailable. Two Factor Authentication is available, but it's buried and hard to locate.
The positive things are the rapid account creation, which takes merely minutes and of course in addition to the web application, you can download Remitano for iOS and Android, at least 6 poeple have already according to Google Play... but unfortunately .... that may be the entire user base on the platform currently.