Here is a summary of what Remitano is and its current status:
Key Features
P2P Trading: This is its core service. It acts as an escrow service that connects crypto buyers and sellers directly. When a trade is agreed upon, Remitano holds the crypto until the buyer confirms payment to the seller's bank account, which protects both parties from scams.
Swap/Instant Buy: The platform also offers instant conversion services, allowing users to quickly swap one cryptocurrency for another.
RENEC Token: Remitano has its own native token called RENEC (Remitano Network Coin).
Global Reach: It has expanded its services across numerous countries globally.
Important Recent Event
September 2023 Security Breach: Remitano experienced a significant security breach where attackers stole approximately $2.7 million in various cryptocurrencies. Remitano took immediate action to mitigate the loss, and Tether was able to freeze an additional amount of funds from being stolen.
Current Status in Nigeria (2025)
Despite the security incident, based on recent information:
Still Operational: Remitano appears to be still operational and actively providing its P2P and swap services in Nigeria.
P2P Focus: It remains a well-known platform for Nigerians to buy and sell crypto using various local payment methods, including bank transfers.
Alternatives in Nigeria
Given the central bank restrictions on crypto-related bank accounts in Nigeria, most major exchanges focus on the P2P model, similar to Remitano. Popular alternatives include:
Binance P2P
OKX
Luno (Often cited as a good option for beginners)
Yellow Card
Quidax (A homegrown Nigerian exchange)
Since you are asking about a crypto exchange, are you interested in buying or selling crypto, or would you like to know more about the details of the 2023 hack?
Link to signup:https://remitano.net/ng/join/3185403
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