Remitano is one interesting platform to buy and sell bitcoin digital currency safely and securely. I use remitano platform to buy and sell bitcoin easily and securely.
Based on my analysis, I want to explain how remitano manages bitcoin of sellers(held in escrow account).
Due to popularity of bitcoin, and digital currency around the world, many people who are simply scammers and fraudsters now claim to sell bitcoin, whereas they are all liars that simply want to collect your money and won’t sell any bitcoin to you.
One reason why remitano is secured is because seller first transfer their bitcoin to remitano account, then buyers sends money to sellers bank account and once seller sees the money and it is complete, seller sends signal to remitano website for his or her bitcoin to be released to the buyer. Once everything is fine, transaction is marked completed and both the buyer and seller is happy.
How does remitano manages each sellers bitcoin account
I guess remitano have a single central bitcoin wallet(probably blockchain, hey remitano Admin, you can start using coinbase, sending to another coinbase is absolutely free) that stores all the bitcoin of users.
Then, remitano created a website that manages each customers wallet, their balance, usernames, referral, passwords, keys, etc on a database.
This is all I can guess about the model and functionality of remitano website as regards its bitcoin buy and sell functions.
Comments, reactions is welcomed in the comment section below.