Remitano and LocalBitcoins are two very similar platforms. They both offer Bitcoin exchanges by connecting buyers and sellers through the escrow system. LocalBitcoins is the first of its kind while Remitano launched about 3 years later improving on some features of LocalBitcoins. They both have their strength and weaknesses. However, remitano seem to be leading in strength in recent time as they have included exchange of Ethereum (ETH), Tether (USDT) and BitcoinCash (BCH) while LocalBitcoins is still strictly bitcoins
I have reviewed Remitano and LocalBitcoins in the past stating guides on how to safely trade on this platforms. Today, however, I am going to I am going to closely compare these two platforms head to head to help you make a better choice when buying or selling Bitcoins.
Remitano Vs LocalBitcoins at a Glance:
Remitano LocalBitcoins Logo Availability Worldwide 52 countries all countries Reputation Good Good Customer Support Very Good Good Traded Cryptocurrency Bitcoin (BTC)
Bitcoin (BTC) Verification Email, ID, Phone (depends on User) Email, ID, Phone (depends on User) Payment methods Bank Transfer Bank transfer, Cash, Paypal, Webmoney, Western Union etc Transaction Fees 1% 1% Exchanges rate Fair (varies with country and time) Fair (varies with country and time) Visit Site Visit Site
Remitano: is available in 52 Countries worldwide: Australia, Bangladesh, Belarus, Brazil, Cambodia, Canada, Ivory Coast, China, Colombia, Denmark, Dr Congo, Spain, Ghana, Indonesia, Israel, India, Iran, Italy, Japan, Kenya, Mexico, Malaysia, Myanmar, Namibia, Nigeria, Netherlands, Nepal, Norway, New Zealand, Oman, Philippines, Pakistan, Poland, Portugal, Qatar, Russia, Rwanda, Singapore, Sweden, Taiwan, Tanzania, Thailand, Turkey, UAE, Uganda, United Kingdom, United States, Vietnam, South Africa, South Korea, Zimbabwe.
LocalBitcoins: All countries Worldwide
On both Platforms, you are only required to verify your email address to buy bitcoin. However, most User will only deal with those with more verified information such as Phone number an ID verification.
Accepted Payment Methods:
LocalBitcoins having been around for a longer time and in more countries than Remitano has more Payment method.
Payment Method in Remitano:
- Bank Transfer
Payment Methods in LocalBitcoins:
- Cash (in person: if you are in close proximity to the seller)
- Wire Transfer
- Bank Transfer
- Western Union
A transaction fee of 1% is levied on sellers across each platform. However, to make up for this fee, sellers charge a higher exchange rate.
The exchange rate on LocalBitcoins and Remitano varies from country to country. For example, the exchange rate for LocalBitcoins in Nigeria is quite high when compared with Remitano. However, in the USA the exchange rate on Remitano is higher than that in LocalBitcoins. Having said this, please note that the exchange rate on each platform is a function of the seller, therefore, they vary from time to time.
I observed the exchange rate on both platforms for a month and found out that the exchange rate for the Nigerian naira on LocalBitcoins has been about 0.043% to 0.8% higher than that on Reminato.
Remitano Vs LocalBitcoin: Who offers a Better Support
LocalBitcoins have various platforms to support Users experience; the FAQ page contains almost all the answers to your questions. The guide page is well detailed with information to put users through basic operations. If you have any issue, you can contact LocalBitcoins on Twitter or Submit a support ticket. However, during the weekends, you might have to wait for 12 – 24 hours for a reply to your quarry ticket.
Remitano has a more responsive customer support, the best being their ‘live chat’ which is available 24 hours 7 days a week. Users can also refer to the help centre. You will find the answer to almost all questions you might have.
Conclusion: Which is Better? – Remitano or LocalBitcoins:
There is no straight answer to this question, it all depends on what you want. LocalBitcoins has been there for a longer time; about 3 years before Remitano. Remitano on the hand has a more responsive customer support through their ‘live chat’. The exchange rate on both platforms depends on your countries. The major limitation you might have when choosing Remitano is that it might not be available in your countries, even when it is, there might be only a few sellers to choose from as to when to compare with LocalBitcoin.
If you have any questions, please leave a comment below.
If you enjoyed reading this article, please share on Facebook/Twitter by clicking on the icons below. Thank you.