Network Congestion Issue in Remitano

[Charles-Tim]

This is not good for their reputation, and if they return successful, they will most certainly lose customers, beginning with me.

If you do not mind about KYC, Binance, OKX, Kucoin Bybits and Huobi are good.

But I will not advice you not to use Remitano anymore if you are not a trader. My advice is to never leave your coins on exchanges, get your deposit address on the exchange anytime you want to deposit and send only the coins that you want to exchange to naira.

Although, if I am in your shoe, I will no longer use the exchange again and move to reliable ones. But the reason for my first advice (which may not be valid) is that any exchange can disappoint you at anytime which is what I want to point out. But if it is me, I will not use such exchange anymore. Maybe they are going backrupt. Who knows.

Most fo the DEX are full of scam tokens and duplicate assets. They are not newbies friendly. They are not up there yet.

Among all the decentralized exchanges I have experience about, only Bisq which is the most recommended has been not newbie friendly. It is even no more compatible with the laptop that I am using (somehow old laptop now). It only has desktop app and it has some other reasons newbies that is expecting crypto to naira may not want to use it. Although I will recommend it for people that want privacy.

The rest like Hodlhodl and Agoradesk are easy to use. I am wondering that no bitcoin buyer ads yet on Agoradesk, although I can see some bitcoin sellers.

The disadvantages that I noticed about decentralized exchanges are just two, which are low trading volume and price manipulation. If a traders can be able to avoid other scam on centralized exchanges, they can be able to avoid scam on decentralized exchanges as well.

Can you believe this type of scam can also exist on centralized exchanges? Be careful with your identity documents and KYC

We just have to be careful and also people should not have rest of mind because they think that they are trading on centralized exchanges and they will not be scam. Anyone can be scammed. Even as banks are, some scammers and hackers are still able to scam people or hack their bank account and withdrawal money.

Even on centralized exchanges, someone can still be scammed if the person is not careful and avoid scam.

[Igebotz]

This is not good for their reputation, and if they return successful, they will most certainly lose customers, beginning with me.

If you do not mind about KYC, Binance, OKX, Kucoin Bybits and Huobi are good.

But I will not advice you not to use Remitano anymore if you are not a trader. My advice is to never leave your coins on exchanges, get your deposit address on the exchange anytime you want to deposit and send only the coins that you want to exchange to naira.

I have completely KYCed accounts with all of the above exchanges, but I usually use Remitano for rapid swaps of my side hustle cryptocurrency payments, and I've never had a problem with them in the two years I've been using it.

Na only $40 dey locked for Remitano so... No big deal.

The disadvantages that I noticed about decentralized exchanges are just two, which are low trading volume and price manipulation. If a traders can be able to avoid other scam on centralized exchanges, they can be able to avoid scam on decentralized exchanges as well.

This is where I draw the line, we are not ready for DEX yet, adoption is low, and convincing anyone to start using it will take some time. Nobody likes to open a trade and have to wait more than an hour for it to be executed owing to low trading volume

[Davidvictorson]

I noticed the Remitao issue sometime last week. Honestly, I was a very disappointed because they are my go to app for a very quick crypto to naira swap. Their UI/UX is user friendly and easy to use. Although sometimes I experience the have freezing aside this they have been running smoothly until last week.

It is true that not your keys, not your coins. I do not expect that any user here would have their coins saved in a platform as Remitano or any other CEX. For Nigerians, these platforms either represents where we quickly do our P2P, trading/arbitrage, receiving crypto. Nothing more.

I can't tell if whatever issue they had last week is a sign of the intending doom that will happen on their platforms or not. But what I know is that have more than one options for situations like these.

[Mate2237]

Now weti dey Happen for Ramitano go straighten and also wakened everyone now. Because since last year nai this popular statement was trending "not your key, not your Coins". Make everyone keeps their coins for open source wallet and not in exchange wallets. You can only send di unit of bitcoin wey u want sell and send am go to di exchange and sell dem instant and leave di app and any time u want do you go there and sell and dat is di best way to do am now.

It was my fault, but I'm not sure how long the maintenance will last; it's been three days already.

Three days already? Then is this not FUD? I will not be surprised if there is a breaking news that Remitano has been hacked.

The site support is already locked, other coins deposit and withdrawal are still open, but my concern is why has this taken this long when the BTC network is not even congested, and why allowed withdrawal and deposit on only the BSC network, and the negative comments on their social platform aren't helping either. This is not good for their reputation, and if they return successful, they will most certainly lose customers, beginning with me.

Not your key, not your coins but we can't do without CEX. Decentralized exchange are not perfect either.

You can do without centralized exchanges if you want to.

Most fo the DEX are full of scam tokens and duplicate assets. They are not newbies friendly. They are not up there yet.

Locking the support service is the highest bad thing they have done. Anyhow sef dem for no lock day one because customers go dey get information from there to have confidence but now just.like all hope are lost. From what is happening and the duration of the maintenance, I don dey suspect them like this oo. Abi na exit scam dem wan do? And if DEX is also scamming people then nowhere is safe again oo. Na god go help us.

[Charles-Tim]

This is where I draw the line, we are not ready for DEX yet, adoption is low, and convincing anyone to start using it will take some time. Nobody likes to open a trade and have to wait more than an hour for it to be executed owing to low trading volume

That is the reason for the ads. If you like the ad of the buyer/seller rate, click on it and proceed with the person that created the ads. The person will also be notified and know that someone wants to buy or sell bitcoin. But if no ads, that could be a problem which is what you are implying.

From what is happening and the duration of the maintenance, I don dey suspect them like this oo. Abi na exit scam dem wan do? And if DEX is also scamming people then nowhere is safe again oo. Na god go help us.

If the people that created Babylon Solutions Limited are known, it can not be an exit scam. But I do not know much about it. What I am just thinking is that people will be thinking already that Remitano has been hacked.

[Charles-Tim]

Update from Remitano:

Dear *******,

Thank you for your patience during our wallet maintenance. We have important updates regarding the BTC network and your wallet address on Remitano. Please read this message carefully to ensure a secured transaction.

BTC Network Reopening:
We are excited to inform you that the BTC network is scheduled to be re-enabled soon. This means that you will once again be able to deposit and withdraw BTC via BTC Network on Remitano. We appreciate your patience during the temporary suspension.

Action Required: Create a New Wallet Deposit Address:
To ensure the security and efficiency of your BTC transactions, it is crucial that you create a new deposit address through our App or Website once the BTC network is back online. Your old BTC wallet address will no longer be valid since then.

Steps To Create A New Deposit Address:

1. Log in to your Remitano account through the App or Website.
2. Go to the "Wallet" page.
3. Click on "Deposit BTC"
4. Click "Create address" to generate a new BTC wallet address.

Important Note:

Coin deposit/withdrawal via BSC Smart Chain (BEP20) remains unaffected and continues to function normally via this link.
Please refrain from processing any transactions loaded into your old wallet address via BTC network during this transition. Remitano will not be responsible for any Bitcoin deposits that may have been sent there.
We're Here to Help:

If you encounter any difficulties or have questions during this process, our Customer Support team is available to assist you. Simply reach out to us through the appropriate channels, and we will be happy to provide guidance and support.

Sincerely,

Remitano Support Team

Bitcoin deposit and withdrawal have no yet been reopened, but would be reopened soon according to the email. Old bitcoin deposit address is no longer valid, Remitano users will have to create new bitcoin address on their Remitano account through the app.

Let us hope Remitano bitcoin wallet has not been hacked. Or were Remitano users notified some weeks or months ago before the maintenance?

Let us always know that if it is not your key, it is not your coin.

[Igebotz]

This is where I draw the line, we are not ready for DEX yet, adoption is low, and convincing anyone to start using it will take some time. Nobody likes to open a trade and have to wait more than an hour for it to be executed owing to low trading volume

That is the reason for the ads. If you like the ad of the buyer/seller rate, click on it and proceed with the person that created the ads. The person will also be notified and know that someone wants to buy or sell bitcoin. But if no ads, that could be a problem which is what you are implying.

Even if there are selling ads, nothing will change if the site's buying or trading volume is low. Have you ever tried to sell a coin on an exchange with a low trading volume? I have, and it stinks; the previous one took me about 5 days to complete. Most traders still choose to trade on CEX due to the low trading volume on DEX.

Update from Remitano:

Bitcoin deposit and withdrawal have no yet been reopened, but would be reopened soon according to the email. Old bitcoin deposit address is no longer valid, Remitano users will have to create new bitcoin address on their Remitano account through the app.

Let us hope Remitano bitcoin wallet has not been hacked. Or were Remitano users notified some weeks or months ago before the maintenance?

Let us always know that if it is not your key, it is not your coin.

All of these maintenance delays for a change in deposit BTC address? I checked blockexplorer and my coin was transferred to another BTC wallet, not only for me but for everyone who deposited during that time period, and I'm hoping the new address is mine. I've experienced similar experiences in the past. My first bitcoin address on this forum was changed last year and I didn't notice until I sent some BTC to that exchange because there was a coin I needed to buy, then I contacted support with my trnx ID and got my BTC deposited into my new address, so Remitano has no excuse not to return those already transferred BTC to the owners because they still have access to those old addresses.

Maintenance is finished and those coins deposited on the BTC network during the maintenance period are lost

[Sexylizzy2813]

And my fucking BTC is locked
Who have the key?
How person fit get em BTC back na?
Person pikin salary don enter bush😅😅

[Mate2237]

Ramitano has completed their maintanance service and they are back to online with the BTC withdrawal open.

Finally Ramitano is unlocking the bitcoin that were locked for some weeks ago. And they are asking everyone who is using Ramitano to change the former address to a new one. That is they are to generate new address because the old address has expired. According to them failure to do so might led to lost of coins. So if you are a user of Ramitano please go and update your BTC address and change it to a new one before you send coins to the exchange .
This is the email that was sent to me today. It is better we follow up their instructions to have a good and smooth running exchange with them. Ramitano was not a bad exchange, I have been using Ramitano since late last year till the recent incident. Though I don't trust any exchange but I believe this one that they are back, they will do well.

Our system maintenance is now complete!
We understand the importance of keeping your assets protected, and we take this responsibility seriously. Our team has gone above and beyond to make sure that your experience on Remitano remains not only smooth but also incredibly secure.

Currently, we are in the process of releasing your funds. Therefore, we kindly ask for your understanding and patience as we conduct essential verifications to avoid potential risks and ensure the safety of your coins before release.

Action Required: Create New Deposit Wallet Address

If you are transferring Bitcoin (BTC) to Remitano via the BTC network, it is REQUIRED to generate a new deposit wallet address, as the old ones has already expired.

Log in to your Remitano account via the App or Website
Navigate to the "Wallet" section.
Click on "Deposit BTC."
Click "Generate Address" to generate a new BTC deposit address.
Please note that we shall not be responsible for any losses resulting from deposits sent to the expired wallet address. If you have any questions, please don't hesitate to reach out to us.

Thank you for choosing Remitano as your cryptocurrency platform. Your security and satisfaction are our top priorities.

Happy trading and stay safe!

Best Regards,
Remitano Team

Don't keep your coins in Ramitano or any exchange, transfer to the exchange when you want to use them. Take a precaution before it too late.

[Nwada001]

I was just about to update this here right now as I got the same mail too today, but the Op seems to be very active in keeping the thread updated.

As regards the change of address, I think most exchanges are doing this now; maybe there is a need to change addresses to increase security or for any other reason that's best known to them. I don't know how Remitano operates now, but back then, when I made use of it, they usually sent a one-time log-in link to the user's private email. This means that, like this, I think most people will need to save their address in order to save themselves the stress of logging in and getting an address, which is also not the best option.

It's best advised for people to always generate an address on every deposit that they want to make into an exchange account. Thanks for the warning, Mate, as this will mean a lot to many of those who don't visit their mail often to get any updates.

[Charles-Tim]

Please note that we shall not be responsible for any losses resulting from deposits sent to the expired wallet address. If you have any questions, please don't hesitate to reach out to us.

If this is true, this is nothing more than a scam. Not your key not your coin.

This means that, like this, I think most people will need to save their address in order to save themselves the stress of logging in and getting an address, which is also not the best option.

Yes. It is best to go to the exchange to copy the address or make use of QR code than to backup the address somewhere, this is Remitano's address, not yours, not mine, not ours.

[Nwada001]

Please note that we shall not be responsible for any losses resulting from deposits sent to the expired wallet address. If you have any questions, please don't hesitate to reach out to us.

If this is true, this is nothing more than a scam. Not your key not your coin.

Exactly what I taught, as they still have access to those wallets and still credit users with any deposit wrongly made to the old address, it won't auto-reflect as before since the address has been changed, but they can still manually add that to users accounts if they are being contacted, unless they want to use this as a means of cornering users funds.

[DaNNy001]

Please note that we shall not be responsible for any losses resulting from deposits sent to the expired wallet address. If you have any questions, please don't hesitate to reach out to us.

If this is true, this is nothing more than a scam. Not your key not your coin.

Exactly what I taught, as they still have access to those wallets and still credit users with any deposit wrongly made to the old address, it won't auto-reflect as before since the address has been changed, but they can still manually add that to users accounts if they are being contacted, unless they want to use this as a means of cornering users funds.

I think with the statement quoted already clears that intension because with what am seeing I can presume that they will definitely corner these user funds if the user actually made deposit to the expired address. But if they can actually do something about the coins sent to these addresses then making a vivid statement that they cant is obviously not the best way to go about it because it obviously sends a wrong message.

[Agbe]

I will not say anything yet because I am sensing a scam move in the exchange now. I don't think changing of old address is good ideal. Because at the first there was no need to change those addressees because they public address and not private keys so what is the need of changing the address. Since when I have been using Electrum address, I have not changed any address. What Charles-Tim is saying the truth. " Not your key, not your Coins",  avoid keeping coins in that exchange. Stay away from them but you can use them. And now if a friend still that old address without my notice he send coins that address and from what they are saying the funds is gone. That is pure scam. They supposed have alternative way to solve such issue because they can't just changed address like. They should change it gradually. Immediate changing of the address will make some people loss coins.

[CryptoHeadlineNews]

If only I knew that a thread such as this existed about Remitano upgrade, I'm sure it would have save me the stress of sending my fund to the old Remitano BTC wallet address, as I was later told after sending my 0.002 BTC that the upgrade affected all the coins, and they were all given each a new wallet addresses, which until this moment I have been chatting with customer support and yet to have my fund unlocked, as tonight is just my first time coming across this thread, since I hardly visited the local board throughout this week, and here I am paying it with my locked BTC on Remitano exchange simply because I got this information very late.

[Igebotz]

Please note that we shall not be responsible for any losses resulting from deposits sent to the expired wallet address. If you have any questions, please don't hesitate to reach out to us.

If this is true, this is nothing more than a scam. Not your key not your coin.

The story has changed, the locked coins has been refunded and the system is back to running again. Got my locked BTC back to my new BTC address Im glad they choose to keep their reputation and service to millions of Nigerians over some coins. I have traded out my balance. they earned back their trust.

If only I knew that a thread such as this existed about Remitano upgrade, I'm sure it would have save me the stress of sending my fund to the old Remitano BTC wallet address, as I was later told after sending my 0.002 BTC that the upgrade affected all the coins, and they were all given each a new wallet addresses, which until this moment I have been chatting with customer support and yet to have my fund unlocked, as tonight is just my first time coming across this thread, since I hardly visited the local board throughout this week, and here I am paying it with my locked BTC on Remitano exchange simply because I got this information very late.

You will get back your coin just proceed to creating your new BTC address so the system can unlock your coins to the new generated address, if you haven't take such step then you are wasting your time writing to support.

[DaNNy001]

Please note that we shall not be responsible for any losses resulting from deposits sent to the expired wallet address. If you have any questions, please don't hesitate to reach out to us.

If this is true, this is nothing more than a scam. Not your key not your coin.

The story has changed, the locked coins has been refunded and the system is back to running again. Got my locked BTC back to my new BTC address Im glad they choose to keep their reputation and service to millions of Nigerians over some coins. I have traded out my balance. they earned back their trust.

If only I knew that a thread such as this existed about Remitano upgrade, I'm sure it would have save me the stress of sending my fund to the old Remitano BTC wallet address, as I was later told after sending my 0.002 BTC that the upgrade affected all the coins, and they were all given each a new wallet addresses, which until this moment I have been chatting with customer support and yet to have my fund unlocked, as tonight is just my first time coming across this thread, since I hardly visited the local board throughout this week, and here I am paying it with my locked BTC on Remitano exchange simply because I got this information very late.

You will get back your coin just proceed to creating your new BTC address so the system can unlock your coins to the new generated address, if you haven't take such step then you are wasting your time writing to support.

Thank God say reminato Dem try choose to do the right thing oo if not a lot of people for don enta big gbese because even as the warning dey always come for the forum CEX Dem no be exactly where for like keep their coins but many people still dey use am regardless as them too na very big exchange for the global market and only God no watin this shutdown for even cause for the market or na for only Nigerian customer nai this their issue affect?

[CryptoHeadlineNews]

If only I knew that a thread such as this existed about Remitano upgrade, I'm sure it would have save me the stress of sending my fund to the old Remitano BTC wallet address, as I was later told after sending my 0.002 BTC that the upgrade affected all the coins, and they were all given each a new wallet addresses, which until this moment I have been chatting with customer support and yet to have my fund unlocked, as tonight is just my first time coming across this thread, since I hardly visited the local board throughout this week, and here I am paying it with my locked BTC on Remitano exchange simply because I got this information very late.

You will get back your coin just proceed to creating your new BTC address so the system can unlock your coins to the new generated address, if you haven't take such step then you are wasting your time writing to support.

I have just gotten my 0.002BTC unlocked back on Remitano, because I thought since I brought the complaint here, it will be wise of me to come inform you guys that issue have been resolved 100%. And what I did was that I chatted with the customer support team, laid my complaint, and was asked to wait 48 hours, which I got the BTC unlocked the next day, which was still faster than the stipulated time frame of 48hrs, and I got it unlock even before the 48 hours (2 days), considering the fact how much they value/respect customer''s satisfaction, and making me love the platform the more, ever since I started using Remitano to convert BTC into Fiat for urgent needs.

   

[Mate2237]

Remitano Delist BUSD

A news came to me in my inbox and says that they have delisted BUSD and if you have coins in the BUSD the users should changed it to USDT and what I will also say is that users of Remitano use obey the Information and changes everything to the USDT wallet. If anyone has BUSD change it to USDT. This is the latest news. Before with exchange.

[Wiwo]

Snip~

Yeah I made same mistake by sending BTC to my old wallet some days back and I got the email that the deposit was locked and I should contact support for it release and upon chasing them up,  the give me the break down of time frame of how the deposits will be release.

I think Remitano have done really well by placing the customer interest as highest priority,  by so doing their really build a lot of trust in the process because when I made the mistake all my thoughts was that I have lost the Bitcoin,  but the my hope was reawaken by the respond from the support and afterward my bitcoin was release.

But mind you,  you have different release time schedule for various degrees of deposits,  e.g first time deposits,  2 days waiting period before coin release,  2nd deposit will attract a 5 days waiting period,  etc.