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Crypto exchange Remitano offers 50% refund to “delayed completion’ trades

Image by Remitano

Wed, 25 Mar 2020, 14:13 pm UTC

Crypto exchange Remitano understands how volatile the crypto market is and how speed can affect profit and loss, so it offers a refund to slow transactions.

Remitano wants to deliver the best service and it continuously works on improving its transaction speed by ensuring that trades are completed easily, quickly and safely. So, starting February 10, it has been giving away a 50% refund to its customers who encounter delayed completion on its platform.

“Remitano is making a commitment to refund 50% of the transaction fee to the buyer (buyer) if the trade is not completed within 15 minutes. In other words, the trade is considered ‘delayed completion’,” Remitano announced.

The exchange considers a trade as “delayed completion” if it takes more than 15 minutes to complete starting from the time the buyer completes payment to the seller - “Pay seller” (Step 3) until the coin is received on the system - “Received BTC” (Step 4).

If you are the buyer and the transaction takes over 15 minutes after the payment has been completed, the trade will be considered “delayed completion.” Customers can claim their refund by following these three steps.

Step 1: After completing the trade, please send your “trade ref” to the Remitano Support team via the chatbox on the website: remitano.com.

Step 2: The support team will check the completed trade time, and give you feedback, if your case is eligible for a fee refund or not. (This process usually takes about 5 minutes).

Step 3: If your eligibility for a refund is confirmed, Remitano will promptly refund 50% of your transaction fee. Kindly check your Remitano wallet to make sure the system has successfully completed the refund.

Remitano also gave four scenarios it deemed as non-refundable cases.

  1. The buyer transferred the money through a different bank so, the seller's account was not credited promptly within 5 minutes after the transfer.
  2. The buyer did not fill in the exact amount to pay, the transfer content was not exactly as instructed.
  3. The buyer manually reopens the transaction which has been automatically canceled.
  4. The buyer specifically asks the seller to delay the release of the transaction to avoid the fee.

To maintain a fair system, Remittano has the right to refuse a refund request it deemed as fraud or deliberately delaying the trade time.

Meanwhile, Huobi DM, leading digital assets derivatives trading platform from Huobi Group, added a new futures liquidation mechanism on its platform to protect crypto traders against market volatility. Huobi did the move to safeguard the assets of its users while providing a robust trading experience.

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