Relai Bitcoin App
Relai is a bitcoin-only investment app that allows you to instantly buy and sell bitcoin with EUR or CHF without registration, identity verification, and deposits. The service is available in multiple languages, including English, French, German, Spanish, and Italian.
Relai is a Swiss bitcoin-only investment mobile app. It allows you to buy bitcoin instantly with a bank account, credit card, debit card, Apple Pay, or Google Pay or set up an auto-invest plan. You can also use Relai to store, sell, send, and receive bitcoin. The service does not require creating an account, passing verification, or depositing. Relai has a built-in noncustodial wallet. It means that it does not store your private keys; only you have access to them.
We are basically a Bitcoin ATM, just digital. You put money in and get bitcoin out, and vice-versa. Relai never holds your funds and is also regulated like a Bitcoin ATM, namely as a cash exchange business.
How to Use Relai App
This is how Relai works:
- Download Relai app for iOS or Android devices. No KYC is required.
- Create a backup of your Relai bitcoin wallet with a 12-word recovery phrase.
- Enter the amount you want to invest.
- Select investment frequency: one-time buy, weekly, or monthly.
- Choose your payment method.
- Buy bitcoin (for a minimum of 10 CHF/EUR).
Relai is a Swiss Financial Services Standards Association (VQF) member and adheres to specific regulations. So Relai’s limits apply to both buying and selling bitcoin and are 950 EUR (1000 CHF per day) and 95,000 EUR (100,000 CHF) per year.
Relai has collaborated with Lightning startup Breez to integrate a non-custodial Lightning wallet into their app. This means Relai users can send and receive payments via the Lightning Network. The new Lightning feature is currently available in a beta phase, accessible by application only. To apply for the Relai Lightning wallet beta, you will need a Telegram account.
Relai to Hardware Wallet
Relai provides a feature that allows you to receive the bitcoin you purchase on the platform directly into your own hardware wallet. To use this feature, you will need the Relai app and the Electrum wallet installed on your computer. Additionally, you will need a compatible hardware wallet, such as Bitbox, Trezor, Ledger, or similar, to store your bitcoin. Follow this guide for integration between Relai, Electrum, and hardware wallets.
Does Relai Require KYC?
Relai is a non KYC exchange, meaning you are not required to undergo a Know-Your-Customer verification. However, this does not guarantee complete anonymity when purchasing bitcoin through Relai. While you are not required to fill out forms or provide identification documents to establish your identity, it’s important to note that KYC-free does not equate to anonymous.
To ensure compliance with regulations, Relai requests the International Bank Account Number (IBAN) associated with your bank account. Buying bitcoin with IBAN allows Relai to identify the source of bank payments and attribute the purchased bitcoin accordingly. Additionally, the Relai app currently facilitates bitcoin purchases through bank transfers, which can potentially link your bitcoin transactions to your personal bank account.
Therefore, although Relai operates under Swiss financial regulations that do not mandate knowing customer names, they are still obligated to screen transactions and wallets of customers who opt for a no-KYC process. This regulatory measure ensures that the transactions remain within the limits of CHF 1,000 per day and CHF 100,000 per year.
Relai BTC Features
- Buying and selling bitcoin. Buy bitcoin instantly and store it in a noncustodial Relai wallet. You can also use the Relai app to sell bitcoin and receive fiat to your bank account. Additionally, you can buy bitcoin with SEPA using Relai.
- Relai auto invest plan. You can set up automatic purchases every week or every month using a dollar cost averaging (DCA) approach. This will reduce the risk of buying sats at a high price and benefit from lower prices in the long run.
- External wallet stacking. It is a feature that allows users to invest in bitcoin directly in their external wallets.
- Relai Private. This function is for those who want to buy more than 100,000 EUR per year. In this case, the fees are from 0.50% to 1.25%, depending on the amount you want to buy. In addition, you will get guidance from experts on selecting the best bitcoin custody option. To become a Relai Private customer, you will need to provide your identification documents. Only ID Cards or passports are allowed.
- Custom Bitcoin network fee for sending bitcoin. This functionality enables you to choose the bitcoin network fee from four predefined options manually.
- Referral program. Share Relai referral code with your friends. Their fees will be lowered by 0.5%, and you will get 0.5% of the amount they buy or sell each time they use your code. Relai referral code is found inside the app.
Buying from Relai typically takes longer than buying from exchanges that allow spontaneous transfers. Spontaneous transfers happen instantly or within a short processing time. Relai transfers have to be pre-authorized through creating an order before they can be executed. This order specifies the exact amount to be transferred, the recipient, and possibly other details like purpose. The exchange requires the exact amount to be specified in the order. Any mismatch results in rejection and possible fees. Once the order is created, it goes through a verification process before the actual transfer occurs.
The most cost-effective method for buying Bitcoin through Relai is to set up recurring buys (weekly or monthly) for at least 100 EUR/CHF and use a referral code. This slashes your fees from 2.5% to 1.0% on standing orders (auto-invest) under 100,000 CHF/EUR. Just remember that credit card purchases have extra fees (1.5%-3.0%).
The fees for Relai Private transactions start at 1% and go as low as 0.5%. For sending or receiving Bitcoin, Relai does not charge an additional fee, but normal Bitcoin network fees will apply.
In May 2023, Relai introduced one free (except credit card fees or other payment provider-related fees) bitcoin purchase for order between 25 EUR/CHF to 100 EUR/CHF once per month. Note that this offer is only applicable to single orders and not weekly or monthly auto-invest orders.
Here is an overview of Relai transactions fees:
|Bitcoin network fee
|Create a savings plan
|Apply a referral code
|Order amount is 100 EUR/CHF or more
|Potential final fee
Relai Supported Countries
Relai is available in all European countries, except for those where it can not be used due to compliance requirements.
Is Relai Legit? Is Relai Safe?
Relai is a safe and legitimate company. It operates under Swiss financial regulations, which means they comply with rigorous standards and procedures to safeguard your interests. It is a member of Swiss Financial Services Standards Association (VQF).
To enhance security, Relai wallet is a noncustodial wallet. This means that the platform does not hold or control your bitcoin, giving you full control over your funds. Furthermore, Relai exchange also offers two-factor authentication (2FA) as an additional layer of security. By enabling 2FA, you can protect your account from unauthorized access, reducing the likelihood of any unauthorized activity.
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|Buy with Bank Account
|Operating System (OS)
|Bitcoin Investment Plan
|Hardware Wallet Integration