Relai Bitcoin App

Description

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 non-custodial 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

• 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 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 non-custodial 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.

Relai Fees

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 cmpany. 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 non-custodial 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.

More Information

• Relai on Twitter
• Relai’s Instagram page
• Free bitcoin e-book

Alternatives for Buying Bitcoin With SEPA