Tips for Creating Effective Buy&Sell (P2P) ads on Remitano

Table of content:

How to create Buying/Selling ads?
Advantages and disadvantages of both methods of creating ads

How to create Buying/Selling ads?

Let's start by learning how to create ads on Remitano!

• Step 1: Go to remitano.com homepage, and click on Create Your Buying Ad or Create Your Selling Ad.

• Step 2: Select the coin you want to Buy/Sell > “Change”

Note: At the moment, Remitano users can buy/sell in fiat currency with 7 coins, including Bitcoin, Ethereum, Litecoin, Ripple, Tether, Bitcoin Cash, and Binance Coin.

Distinguish between Fixed Price and Dynamic Price

Fixed Price

The fixed price is the initial price that you have at your disposal. It will not change or fluctuate as a result of market price changes. You only need to fill out 3 groups of information following the detailed instructions below:

For instance, suppose you want to sell USDT.

1. In the Fixed Price field, enter the fiat price per unit of 1 USDT that you want to sell.
2. USDT price that buyers see This is the price that buyers will see when your ad appears (this price is calculated using the formula Fixed Price + Fixed Price x 1%, for buying ads, it is Fixed Price - Fixed Price x 1%).
3. USDT price that you receive This is the Tether USDT price at the current USDT rate (1). This price will fluctuate as the USDT rate changes.

1. Amount of USDT In this field, enter the amount of USDT you want to sell.
2. Maximum USDT amount The maximum amount of USDT in a single trade.
3. Payment method: Your preferred payment method

Tip: Please choose the payment method via Remitano fiat wallet (For example, Remitano NGN Wallet, Remitano KES wallet, Remitano MYR wallet, etc.) to receive money quickly.

Dynamic Price

I'll use an example of creating an ad to buy ETH here (Ethereum)

If you select Dynamic Price when creating an advertisement, the coin price that you need to pay will be calculated using the following formula:

Actual coin price = ethUSD price * Coin price at reference exchange

The coin price you pay will fluctuate according to the reference exchange price.

To begin creating ads with Dynamic price, keep the following terms in mind.

1. ethUSD Pricethe fiat money/USD exchange rate. Fill in the maximum coin price, which is the highest amount you are willing to pay for a coin.
2. ETH price that sellers see: the price displayed on the Buy & Sell (P2P) platform. This price has been accounted for with a trading fee (seller pays the fee).
3. Maximum ETH price: This is the highest price you wish to buy ETH.
4. ETH price that you pay​​ = ethUSD Price x Reference Exchange Price. In the image below, we've chosen a reference price from the Bitstamp exchange. In other words, this price will correspond to the current Bitstamp ETH rate (4374.47).
5. Reference Exchange You can select the ETH rate in other exchanges in this section.

Finally, enter the amount of ETH you want to buy and the payment method you want to use, then click the "Create new advertisement" button, just like with Fixed Price!

Note: Click "Preview" to see how your ad will appear when it is displayed, then click "Create new advertisement" to complete the process.

Advantages and disadvantages of both methods of creating ads

Fixed Price

• Pros:
  • Control and manage costs and profits with ease.
  • Easy to use; no need to constantly check ad prices.
  • Your ad is fulfilled quickly if it is placed among the top five best-priced ads on the first page (probably equivalent to the execution speed when you are a taker

• Cons:
  • If the price of the coin rises, your ads will not benefit from the price difference.

Dynamic Price

• Pros:

  • Because you can set minimum and maximum prices, your ads will always change in favour of traders due to currency fluctuations.

• Cons:

  • This method requires traders to determine an acceptable price for the ad created to meet their needs.
  • To maximize the profit from advertising, traders need to monitor market price movements to adjust the price continuously, and it takes quite a while to complete a transaction.

So, if you're an inexperienced trader looking to make a little more profit by setting a slightly higher buy/sell price than the market price, save on transaction costs, and buy/sell quickly, creating ads at a fixed price is the best option for you.

Creating buy/sell ads with Dynamic Price is ideal for experienced traders who want to maximize profits through reference price fluctuations or for traders willing to wait for a good price.