Through this training, Remitano hopes to provide the necessary knowledge and aptitude for newbie traders to make them confident in trading and bring them closer to financial freedom and happiness.
This course helps you to:
- Quickly understand the basic terminology of the Remitano Exchange
- Know how to seek support for all of your problems
- Know how to buy/sell coins quickly in just 5 minutes
LET'S EXPLORE NOW
Key takeaway
KYC helps verify your identity and traders on the exchange, and protects your assets in the case of disputes.
If you are newbie and need help, you can find the answers yourself via the Remitano Support page, or contact the support via livechat at the bottom right corner of the website/app, and ask questions in Facebook Group or Discussion Section on Forum.
Trading tips on P2P channel: using Remitano Fiat Wallet helps your buying/selling transactions be completed instantly without wasting time up to 15 minutes, as would have been using a bank transfer.
1. Revealing the valuable terminologies commonly used at the Remitano Exchange
The 8 terms below are the most basic and essential words/phrases that pave the way at Remitano.
| Cryptocurrency | KYC | P2P exchange | Maker and Taker |
| Cryptocurrency: is a currency issued by a computer network system, without control of the central bank. | KYC (Know Your Customer): This means to verify our customers. | Peer-to-peer: this is a type of platform (like Remitano) that allows you to buy/sell in fiat with real people. | Maker on Remitano is the person who creates an advertisement to buy (maker-buyer) or to sell (maker-seller). Taker are those who fill or accept someone else's ads (offers). |
| At Remitano, you will experience trading with 6 types of coins on the P2P channel (E.g.: BTC, ETH, XRP,...) and 10 types of coins on the invest channel. (E.g.: EOS, BNB, NEO,...) | When a new user registers an account on Remitano, he/she is required to submit identity documents, facial recognition (ID card, Passport, Driver's licence, and other information to protect the customers' and stakeholders' transactions on Remitano. The KYC process is implemented by Remitano and other exchanges, financial parties, and banks in compliance with the Anti-Money Laundering (AML) law. | Users are free to choose buyers/sellers with the best prices displayed. | Maker are those who want to sell or buy coins, so make the requests through advertisement creation and wait for interested users to click and accept their offer. - Taker-buyer: wants to buy coins and chooses the BUY NOW option or chooses a seller from the selling ads list. - Taker-seller: wants to sell coins and selects the SELL NOW option or chooses a buyer from the Buying ads list. |
| Remitano fiat Wallet | bitUSD, ethUSD, bchUSD, ... | Invest | Swap |
| Fiat wallet is a virtual wallet used to store fiat money. This type of wallet supports users to buy coins directly on the Remitano Exchange (BTC / ETH / LTC,...). It also provides a fast and convenient means of payment through the instant trade feature. | bitUSD, ethUSD, bchUSD,...: these refer to the exchange rate of fiat money/USD that the makers set for each type of coin such as BTC/ETH/BCH. This price is usually set when creating an ad. | Remitano Invest is a feature that supports you to invest in 10 potential altcoins on the market. You can buy (open investment) altcoins at the Invest section in USDT. Then wait for the price to rise, and sell (close investment) to profit from the price difference. | Swap: Using this feature, you can switch between coins right inside your Remitano wallet to invest. |
| When you need to buy coins: If there is the local currency in your wallet and choose the means of payment as Remitano fiat Wallet, the transaction will be completed immediately. The coin will be credited to your wallet instantly. When you need to sell coins: If you choose the means of payment as Remitano fiat Wallet, the process of receiving money and releasing coins is done automatically. You do not need to waste time submitting the receipt. | For example, suppose you want to create an advertisement for Bitcoin instead of placing an order with a fixed price. In that case, you can place an order at 1 bit USD in MYR (in Malaysia) and based on the BTC/USD exchange rate of a reference exchange such as Bitfinex, Bitstamp, Karen, so that your order has a flexible Bitcoin price that changes according to the market price. This way, you can avoid trading losses due to sudden market price changes or too low advertisement rankings. | You can buy (open investment) altcoins at the Invest section in USDT. Then wait for the price to rise, and sell (close investment) to profit from the price difference. | The feature helps to preserve the value of your assets when the market fluctuates. You may also withdraw to wallets outside Remitano, such as cold wallets or online wallets on other exchanges. |
How comprehensive was this course? Let's check the above knowledge through the quiz below!
2. What is KYC? Why is KYC verification the first thing every trader should do?
In the first part, you have grasped the definition of "What is KYC?", but you are probably still wondering: * "Why should I finish KYC as soon as possible?"* and * "What is my benefit when completing KYC?"*. Let's find out the answers below!
Why should I finish KYC as soon as possible?
Assuming that you make a transaction with a stranger and unsure whether the money they send you is sourced from criminal activities, do you feel safe to deal with them?
Remitano acts as an intermediary who ensures the confidentiality of customer information and helps verify traders' identities to give users more peace of mind when trading with partners.
In particular, when there is a disputed trade or the risk of your account being compromised, KYC acts as a proof for Remitano to make fair and accurate decisions. As such, Remitano will rely on KYC information to help you promptly protect your assets.
What is my benefit when completing KYC?
Remitano divides its users into 5 levels, according to the types of verification documents provided, which determines their deposit and withdrawal limits, respectively:
Based on the above image, if you verify your phone number, you will become a level 1 user. However, you will need to provide more documents if you want to be level 2, specifically:
Click here for more details: How to verify documents
For the 3rd level, you need to verify your bank account to make fiat money deposits and withdrawals. For most users, this level satisfies their trading needs with a buying limit of $200,000/24H, and awithdrawal quota of $2,500/24H`.
What is peer certification and how to get it?
A user from level 3 wants to be level 4 if he/she meets one of the following two requirements:
- Request 1: You have peer certification from a Level 4 user
Learn more: What is peer certification and how to get it?
Level 4 users will get the privilege of freely buying and selling in various markets that are no longer restricted by country.
For members from Level 4 to Level 5, you must satisfy both of the above requirements. However, do not worry if you do not have anyone familiar with peer certification. You can contact Remitano through Live Chat, Email, Facebook to request peer certification provided you meet all of the following criteria:
- Member has been trading continuously for at least 6 months
- Members not only buy but also sell. Trade numbers sell at least 50 trades
- Members have purchased at least 500 transactions. The ratio of released / total trade bought is 80%
- The member has connected to the Facebook account.
- Make commitments through a Hippo video.
- The trading volume must reach a minimum (Just reach one of the volumes listed below):
- BTC: greater than or equal to 20 BTC
- ETH: greater than or equivalent to 200 ETH
- BCH: greater than or equal to 200 BCH
- USDT: greater than or equal to 50,000 USDT
- LTC: greater than or equal to 400 LTC
- XRP: greater than or equal to 100,000XRP
Hopefully, the above information has answered all your questions related to the KYC process at Remitano. Let's check the above knowledge through the quiz below!
3. Getting all your questions answered
You are now equipped with essential resources to start trading at Remitano. But wait, Remitano is not merely a crypto exchange. Remitano encompasses a community that connects crypto lovers worldwide. It is a place for traders to share knowledge, experience and support each other.
Trading needs not to be a lonely job because now you can join the crypto community of Remitano via Facebook Group, and feel confident to share everything about your trading life.
At the same time, you can also post your article/question in the "Discussion" section right on the Remitano website.
If you want to find out the answers to common questions of "newbie" on the exchange, please visit our Support page, or you can also contact directly with the support team via a chatbot on the website/app or inbox Fanpage Facebook. The Remitano Support team is always excited to help you, 24/7.
Hopefully, the above information will help you in trading at Remitano. Let's check the above knowledge through the quiz below!
4. Remitano Fiat Wallet and Fiat Deposit/Withdrawal - The preparation step for all transactions
As in Part 1, you have been exposed to the term "Remitano fiat Wallet." A Remitano fiat wallet helps your buying/selling transactions be completed instantly without wasting time up to 15 minutes, as would have been using a bank transfer.
Your job is to top up the Remitano wallet, and then you can either buy coins through BUY NOW or create a buying ad.
The seller can also choose to use the fiat Wallet. The money will be added to their Remitano account. You can use this money to continue trading or withdraw it to your bank account at any time.
And now, let's explore simple steps to deposit/withdraw fiat at Remitano's wallet!
Learn more: How to deposit and withdrawal with Fiat Wallet
You have learned how to deposit and withdraw fiat money to prepare for the next steps of buying/selling coins on Remitano! Let's check the above knowledge through the quiz below!
5. BUY NOW/SELL NOW - Kickstart your trading journey!
Once you have a balance in your fiat wallet, you can easily BUY NOW/SELL NOW on Remitano's P2P Exchange by taking the next simple steps:
Learn in details: How to trade with Fiat Wallet?
If you want to know how to buy/sell via bank account please click HERE
Below is a comparison table of buying/selling through a bank account against a Remitano wallet so that you can easily recognize the differences and decide which is the optimal type of payment method to use!
Hopefully, the above instructions will make it easier for you to start trading at Remitano. Let's check your knowledge of this course through the quiz below!
Our Message:
Remitano is in the process of developing this course; therefore, if you have questions about the course as well as suggestions and contributions, please comment below!
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