Dunno why i haven’t used this earlier. There have been some instances when i had to search and replace some text in nano or pico (i can’t get accustomed to nano, so i always symlink nano to pico lol). Anyway here it goes:
Press: Ctrl + \
After that it’s pretty self explanatory:
Enter your search term [press return]
Enter your replacement term [press return]
You can either press Y to see every instance getting replaced, or take the easy route and press A [to replace all instances].
Enjoy your new found nano / pico skills.