NairaEx vs Remitano: What you need to know about these 2 cryptocurrency exchanges before you choose

In crypto’s over seven years of boom, junctures, eye-brow-raising vulnerability, and steadied popularity, numerous cryptocurrency exchanges like Bitmama, Remitano, NairaEx, Roqqu, and more have launched, slinging towards the parameters of evolution that have hit the cryptocurrency industry.

Though cryptocurrency exchanges, saddled with the responsibility of enabling the transfer of tokens, are undeniably one of the most important blocs in the crypto industry, some have had to end their run due to the market’s volatility. This, however, cannot override their palpable influence on the acceptance of cryptocurrency in some regions around the globe. 

Cryptocurrency exchanges help in the processing of transactions between customers. To reckon with the convenience sought by customers, these exchanges provide strong aesthetic appeal, a fast and less costly transactional process, and pretty simple interfaces, which soothe customers in many ways.

Some even provide keynote signals, information on what trade to take, and other trends to look out for in the cryptocurrency market, immensely benefiting customers. More like we have the traditional institutions for traditional currency; this is what crypto exchange is to customers with digital assets.

Considering these, we researched and analyzed two important cryptocurrency exchanges doing great work in the industry: NairaEx and Remitano.

Read Also: Paxful vs Roqqu; a comparison of 2 African crypto exchanges 

NairaEx

Since its introduction in 2015, it has become a household name in Nigeria’s cryptocurrency scene. As a Bitcoin exchange, it offers customers a platform to buy and sell cryptocurrency while receiving incentives. The modes of payment it adopts include transfers and automated payments. To stand out from its counterparts, the company launched a savings calculator for investors depending on the coin’s value predictions, which is regarded as a brilliant and extremely unique feature.

Signing up on the app is fluid, and users can begin trading immediately after they have completed the sign-up process. Like other crypto exchanges, NariaEx charges a small fee from users for transactions. Though the exchange rate is published on the website, this often does not tally with the corresponding live conversion to fiat currencies.

Its liquidity transfer is skyrocketing fast. The platform can be accessed via a web browser. It does not have a mobile app, which is one of its disadvantages. Over the years, it has processed massive volumes of trade and has been attested to be trustworthy. The platform’s security is robust and adequately bolstered against cyberattacks.

Users can easily purchase bitcoins and other crypto assets on this platform with their debit cards. The perfect match for beginners with little to no experience trading cryptocurrency.

Due to its Nigerian roots, it has streamlined the process of exchanging crypto assets with the country’s national currency, the Naira. Bonuses are given to customers who refer the platform to other users.

NairaEx’s flaws include its non-diversification. It is only available in Nigeria. Unlike some of its contemporaries, who have been able to extend their services to other African countries and beyond, NairaEx seems rooted in Nigeria, and there are no signs this might be different in the coming days. Its services are not available to users outside of Nigeria. Also, the fee is fixed and non-fluctuating. This implies that the fee will not be reduced, barring a change in market conditions.

To sign up for NairaEx:

1. Log into nairaex.com and click Sign Up
2. Enter your name, email, password and click on the ‘Sign Up’ button
3. Search for the NairaEx email in your account, click on the link to confirm your registration

Remitano

Launched in 2016, Remitano is a digital crypto platform that supports the exchange of cryptos via an escrow peer-to-peer marketplace. One of its highlights is providing a safe space for investor connectivity across the network.

Remitano has an NFT platform on the BSC (Binance Smart Chain) known as NFT5 on Launchpad.

Customers can earn RENEC (the native token of the Remitano Network Blockchain) through giveaway opportunities held on the platform. It enables users to invest in supported cryptos with a 2x margin. Unlike NairaEx, Remitano’s services are available in a lot of countries. It is supported in countries like Nigeria, Pakistan, Singapore, South Africa, Venezuela, Vietnam, Ghana, India, and others.

Remitano supports the deposit, withdrawal, and swaps of Avalanche (AVAX), Axie Infinity (ASX), Bitcoin (BTC), bitcoin cash (BCH), Binance Coin (BNB), Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), EOS (EOS), Ethereum (ETH), Ethereum Classic (ETC), Fantom (FTM), KardiaChain (KAI), Litecoin (LTC), NEAR Protocol (NEAR), Polkadot (DOT), Polygon (MATIC), Ripple (XRP), Shiba Inu (SHIB), Solana (SOL), Stellar Lumen (XLM), Tether (USDT), Tether (USDT), Tezos (XTZ), Tron (TRX), and Uniswap (UNI).

To keep its customers on top of the market, Remitano’s blog is primarily created to share information about trends and key terms in cryptocurrency. Remitano, unlike NairaEx, has a mobile app available on the Play Store.

Its customer service is available 24 hours a day. Remitano’s weaknesses include the hiccups that could be encountered when using the app and the absence of a demo account, which would have helped beginners learn and practicalize the nuances of trading.

Remitano uses the Password-less login technique, in which the user gets a secured login link via email instead of the traditional email/password login method. As such, users only need to secure their email accounts without remembering or exposing their passwords to another account.

A password-less method is more secure than the traditional email/password method because: If hackers get your email, they can still ask for a new password for the 3rd party’s account -> It is safer if users don’t expose their email/password to the 3rd party.

To sign up on Remitano:

Step 1: Click LOG IN / REGISTER

Step 2: Fill your email in the box as shown below and click “Continue”

After clicking “Continue” the configuration shall be as below:

Step 3: An email from Remitano shall be sent to your mail account. Open it and click “Log me in Remitano.” 

Step 4: Fill in your username and click “Continue” 

Then, the registration process is completed, and you can trade. However, you should update your account information to enjoy more features. (Settings -> Profile and update your information)

Read Also: Palmpay vs Opay: What you need to know before you choose

NairaEx vs Remitano

These two cryptocurrency exchanges are excellent for the services they provide. NairaEx might be the best for Nigerians looking to exchange and save since its services are targeted at Nigerians.

However, Remitano possesses a higher global appeal and seems more advanced, considering the number of cryptos available on the platform and other features available on the app. Remitano has an edge over NairaEx, but as a user, the choice is in your hands.