Relai app is a Swiss-based company that is gaining popularity among bitcoiners, especially in Europe. And for good reason, the application is user-friendly, simple to use and very practical. It allows users to buy and sell bitcoins without providing an identity document. This is a feature particularly appreciated by bitcoiners who wish to preserve their confidentiality.
With a user rating of 4,5 out of 5, over 250,000 downloads and over $200 million in volume processed, Relay App is a quality application that is making a name for itself in the Bitcoin ecosystem.
In this article, we will explore the features of Relai App to find out how to use it and in which situation it comes in handy.
Presentation of Relay App
The Relai app includes a non-custodial wallet. This means that users retain ownership of their private keys. They are thus master of their bitcoins, while using the application.
Furthermore, to buy bitcoins with Relai , users simply need to connect their bank account to the application. Once connected, they can buy bitcoins by entering the amount they wish to invest.
Selling bitcoins with Relai is also very simple and is perfectly understandable for a beginner. The application is minimalist and we quickly find the functions we are looking for.
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What are the particularities of the Relai Bitcoin application?
The Relai Bitcoin application is a Bitcoin purchasing platform that stands out for several particularities.
? Acquisition without KYC
The first particularity is that the application does not require identity verification (KYC). This means you can buy Bitcoin without providing your personal information, like your name, address, or phone number. This particularity makes the application accessible to a wide audience. It is particularly suitable for people who do not wish to share their personal data.
? Buy bitcoin instantly
On Relai App, it is possible to buy bitcoin instantly with different methods including bank transfer, credit or debit card or even by Apple Pay or Google Pay.
? Buying bitcoin automatically
The third key feature is that the application allows for regular Bitcoin investment . This method, called Dollar Cost Averaging (DCA), involves buying a fixed amount of Bitcoin at regular intervals, regardless of price fluctuations. In fact, DCA is an effective investment strategy for long-term Bitcoin investors.
You can opt for a weekly or monthly self-investment plan from just €10/CHF and more.
You should know that this is a very interesting service because there are zero fees for orders up to €100/CHF.
? Control of private keys
Relai App also has the advantage of being a non-custodial wallet . This means you have complete control over your private keys, allowing you to secure your funds and import your account onto any device.
How to buy and sell bitcoin on Relai App?
The processes for buying and selling BTC on Relai App are quite simple.
How to buy Bitcoin on Relai App
To buy Bitcoin on the Relai app , follow these simple steps:
- Download the Relay app on your smartphone. You can add our referral code: “ ZONEBITCOIN » to benefit from a 20% discount.
- Create a wallet and carefully write down the 12 words in the order listed. Write down exactly what is called a “seed phrase” and do not share it. This is what will allow you to access your funds later.
- Tap the “Buy” tab.
- Enter the amount you wish to purchase.
- Select the frequency of your purchases (once, weekly or monthly).
- Press “Next”.
- Enter your IBAN number.
- Press “Next”.
- Check the payment details and send the indicated amount to the payment details provided.
- Once the payment is made, you will receive your Bitcoin in your Relai wallet.
How to sell Bitcoin on Relay
To sell Bitcoin on Relai, follow these steps:
- Open the Relai app and log in to your account.
- Tap the “Sell” tab.
- Enter the amount you want to sell.
- Press “Next”.
- Enter your IBAN number and your name.
- Press “Sell”.
- Wait for the amount to be deposited into your bank account. This usually takes between one and two days.
How to send Bitcoin to another wallet?
Relai is a Bitcoin purchasing service in Europe. It allows users to deposit euros into their Relai account and buy Bitcoin instantly. However, if you want to transfer your Bitcoin to another wallet, you need to follow a few simple steps.
- Open your Relay wallet : Open the Relai app on your mobile device or computer.
- Go to the “Portfolio” page : Tap the “Wallet” tab at the bottom of the screen
- Copy your Bitcoin address : Tap the “Copy Address” button next to the Bitcoin address you want to use for the transfer.
- Open your non-custodial wallet : Open your non-custodial wallet app or software.
- Create a new Bitcoin address : If you don't already have a non-custodial wallet, you will need to create one. Most non-custodial wallets allow you to create a new Bitcoin address with just a few clicks.
- Paste Relai's Bitcoin address : Paste Relai's Bitcoin address into the address field of your non-custodial wallet.
- Confirm the transfer : Press the “Send” button to confirm the transfer.
As you've probably noticed, transferring your Bitcoin to a non-custodial wallet is a simple process. By following the steps above, you can protect your Bitcoin and keep it under your control.
Reasonable bitcoin buying and selling limits
Relai imposes limits on its users in order to comply with money laundering and anti-fraud regulations.
➡️ Purchase limits
The minimum purchase amount is €10 or CHF 10 and the first purchase cannot exceed €100 or CHF 100.
➡️ Sales limits
The minimum sale amount is 0,001 BTC. As for the maximum sale and purchase per day is 900 € or 1000 CHF. Furthermore, the maximum purchase and sale per year is €90 or CHF 000.
➡️ Understand purchase limits
The daily limit of CHF 1000 is a requirement of FINMA , the Swiss financial market supervisory authority. In fact, foreign exchange transactions under CHF 1000 are not subject to registration or licensing. Consequently, no KYC/AML (Know Your Customer/Anti-Money Laundering) process is required. This is why the Relai app has opted for these restrictions. It allows account holders to remain anonymous.
How to increase the limits?
To increase limits, users must provide additional information to Relai, such as their name, address, and telephone number. This information is used to verify the identity of users and prevent money laundering.
It is important to know that the bitcoin buying and selling limits on Relai are designed to protect users. In particular, they help prevent illegal activities. By following these limits, users can buy and sell bitcoins safely and legally.
For people who wish to negotiate larger amounts, it is appropriate to opt for Relai Private and Relai Business which will be more suitable.
What is Relai Private?
Relai Private is an OTC office which is more suitable for individuals wanting to acquire larger amounts of bitcoin. For investors who wish to trade bitcoin volumes (purchase or resale), from €100. The benefits of using Relai Private are numerous and include the fact that customers will have a dedicated point of contact to transact securely. Trading will be done at the best price by analyzing more than 000 trading platforms. The other advantage is that the Relai team will follow up to help with the best bitcoin storage solution.
What services does Relai Business offer?
As the name suggests, Relai Business is specifically aimed at businesses looking to purchase more than $50 in a single purchase. The company will benefit from expert advice from the Relai team and will be able to communicate with a relationship manager to obtain bitcoin at the best price, and as quickly as possible. Individual step-by-step support will also be included in the service.
What are the affordable user fees?
Relai BTC charges fees based on the transaction. Buying and selling fees are just 1%. This ranks Relai App among the cheapest app for buying bitcoin. Also, Bitcoin network fees are also applicable and vary depending on network congestion. However, Relai does not charge any fees to send, receive, withdraw or deposit bitcoins.
You should know that for the automatic bitcoin purchase service, there are no fees for orders not exceeding 100 EUR/CHF.
Exchange rate
Relay uses Bity, a currency exchange broker, to determine the price of bitcoins when they are sold. Bity's exchange rate is generally competitive, but it can fluctuate depending on market conditions. The site is among the top crypto companies in Switzerland.
Currencies accepted
The application only accepts Euro (EUR) and Swiss Franc (CHF) currencies. However, UK customers can also use Relai if they have a EUR bank account. Moreover, there are several British banks that offer bank accounts in EUR, including Revolut and Wise.
What are the disadvantages and advantages of Relai App
| Benefits | Drawbacks |
| - Ease of use – Non-custodial wallet – Company based in Switzerland – Purchase bitcoin without KYC – Responsive customer support | – No Lighting Network integration (yet). This will be implemented soon. – Only euros and Swiss francs accepted – Need to provide documents if you exceed 1000€/CHF daily |
How secure is Relai App?
Relai is a non-custodial wallet, meaning users' funds are stored on their own devices. In other words, Relai cannot access user funds, even if the service is compromised.
Likewise, the software also has transaction limits to protect users from frauds. These limits prevent users from transferring large amounts of money in one go.
Final verdict
In conclusion, this review of the Relay App reveals that it's a user-friendly and functional application, perfectly suited to both beginners and more advanced users. It's particularly well-suited for those concerned about privacy and who wish to buy Bitcoin without KYC verification.
Relai is a bitcoin buying and selling service that offers a number of exciting features. However, users should be aware of the service's limitations, including limited support for payment methods and fiat currencies.
Note: You can use our Sponsor code: ZoneBitcoin to save 0,5% on transaction fees.
Frequently Asked Questions?
Can we use currencies other than the euro or the Swiss franc?
At the moment, the Euro and the Swiss Franc are the two fiat currencies that are accepted for purchasing bitcoin. However, it is not impossible that the application develops internationally and later accepts other cryptocurrencies?
Who is the founder of Relai App?
The company Relai app was co-founded in 2019 during a hackathon in Zurich by Julian Liniger , who is now the CEO, and by Adem Bilican, the current CTO of the company.
Is Relai App a Swiss company?
Relai App is a Swiss company that is a member of the SRO (Self Regulatory Organisation) and the VQF (Verein Qualitätssicherung Finanzwesen). Relai is a Swiss-licensed financial services provider that complies with Swiss anti-money laundering law.
Does Relai App have a system sponsorship?
Yes, Relai app has a sponsorship system where it is possible to share a Sponsor Code which will save your referral 20% of transaction fees while receiving a retro-commission. A win-win partnership
We have a referral code if you wish to support this newspaper: " ZONEBITCOIN "
Note: We independently provide reviews of Bitcoin-related products and services without receiving any funding or sponsorship. For some links, we may receive a commission. This is not investment advice.
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Hello Ines,
Hello Zonebitcoin,
Thank you for this article, written in 2023 it made me want to try the relay app, but before taking the plunge and following a quick tour on the web to gather other opinions in the same direction or not: I wanted to point out to you that the relay app is currently receiving in 2024 a very large number of very negative opinions on the trustpilot site.
It seems that a KYC is finally imposed, not only for new registrants and many people are unable to complete this KYC or recover their funds or bitcoins because their account is blocked, sometimes very large sums are inaccessible, with no possibility of obtaining answers. This app unfortunately seems to have become a scam. In short, I gave up on creating an account there, it remains to be seen whether these are temporary difficulties or the beginning of an announced end. Someone on truspilot asks where their deposited €9000 went and relay does not know how to answer where their money went... to be continued, but be careful before registering.
(sorry for the capital letters, your comments window doesn't allow you to put them).
cordially