In 2017, when the market for cryptocurrencies suddenly flourished, to find a reputable, safe trading place, there were few options, and sometimes you had to trade coins through intermediaries, or the black market. Until today, there are countless choices, but I know many traders still choose to trade on the black market, although the risks are quite high. The reason, needless to say, if you often deal with large amounts of coins, it is probably easy to guess, which is: transaction costs!
Because of this reason, today I want to share with you investing what I know about the newly launched Wholesale transaction channel of Remitano for a fee of only 0.1% (down to 90% compared to P2P channel of this floor).
Before going into a detailed review of Remitano's Wholesale channel, I also want to give some evaluation of the advantages and disadvantages of trading on the black market, to clarify the idea of why I think Remitano Wholesale is an "inconspicuous" alternative.
1. Black market
2 main characteristics of customers in the black market: the "giant" trade coin in large quantities and the psychology of not wanting to lose high transaction fees on the floor.
Some popular places of this form of trading are forum websites (Empire Market, Cryptonia, Nightmare, ...), and groups to buy and sell on Telegram, Facebook group (Trade coin underground, UG- Black and Red lifetimes, Trading in virtual money, ...).
Pros - Disadvantages of buying and selling in the black market:
- The only advantage is that it is convenient to buy, sell, without any transaction costs
- Risk of fraud, loss through fraudulent trading, no guarantee. You may have transferred money / transferred coins but the buyer / seller did not respond and you absolutely cannot go to denounce to any party.
- Prices do not update from time to time, profit and loss.
- High security risk, easy to hack personal information. When you visit underground websites, it is inevitable that your computer / device will be vulnerable to malicious code, leading to your personal information being exploited and stolen.
- Liquidity is moderate, you only buy and sell with only 1 person. Buy on the floor more abundant.
2. Wholesale - an "excellent" alternative for the black market
First of all, I would like to remind you of Remitano floor a little for those who do not know. This is the earliest fiat - crypto exchange in Vietnam (2015), supporting the trading of coins: BTC, ETH, USDT, BCH, LTC, and XRP.
To solve the problem of fees, which has always been a big controversy in the Crypto community when choosing any exchange, Remitano has launched the Wholesale channel for large transactions with extremely competitive fees 0 , 1% on 17/01/2020. This is really good news for traders of Vietnam earlier this year.
What is the Wholesale Remitano channel?
Wholesale is a specialized investment channel for transactions with large value of 1.5 BTC or more.
- With the maker, the ad order must be valued at 1.5 BTC or more.
- For taker, the order must have a value of 1.5 BTC or more.
Wholesale Full support for coins like in P2P channel: BTC, ETH, BCH, USDT, XRP, LTC.
As mentioned above, the transaction fee is the most outstanding advantage of this channel, which can be considered as the lowest fee in the market today, compared to major global exchanges: Binance (people sell: 0.1%), LocalBitcoins (seller: 1%), Coinbase (0.5% or more), Paxful (seller: 1%), as follows:
Pros - Disadvantages of Wholesale channel
- The most competitive cost in the market: 0.1%
- Reliable and safe transaction environment
- Minimum transaction limit from 1.5 BTC
- No app as with P2P transactions, must be done by laptop or PC.
How to trade on Wholesale Remitano?
If you already have an account on Remitano, just log in with your current username, all operations are exactly the same as P2P trading channel.
If you still do not have an account, I will guide you to do it with 3 simple steps:
- Step 2: Click on the "Login / Register" button in the upper right corner of the screen, and log in with Google or Facebook
You can also enter your email, and click "Continue". After that, check your inbox and click "Sign me in Remitano"
- Step 3: Enter your alias, and click "Continue" (This alias will be the name displayed on all your transactions)
That's it, now you can easily trade on Remitano's Wholesale channel!
The last point I want to note to traders is that if you are too familiar with Remitano, and regularly monitor its products, you can see a feature that is the product of Remitano (P2P) , Swap, Invest) are good, low cost or even free at launch.
Therefore, I recommend that traders who want to trade safely with low costs, quickly test this product of Remitano when it has just "launched" to enjoy this extremely preferential fee.
At the same time, sharing with the brothers, Remitano is having a $ 20,000 airdrop program for the first 100 traders every week on Wholesale channel. Brothers learn more here Please! Wishing you successful trading coins!