Relay App Review

Relai App: Buy Bitcoin, without KYC, automatically

3th November 2023

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 downloads and over $000 million in volume processed, Relay App is a quality application that is taking a prominent place 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.

relay app reviews

Furthermore, to buy bitcoins with relay, users simply need to connect their bank account to the app. Once logged in, they will be able to purchase 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.

-> We have a Sponsor code if you would like to support this journal: ZONEBITCOIN

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.

👉 Buy bitcoin in automatic mode

The third particularity is that the application allows to invest in Bitcoin on a regular basis. This method, called Dollar Cost Averaging (DCA), involves purchasing a fixed amount of Bitcoin at regular intervals, regardless of the price variation. In reality, 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.

👉 Private key control

Relai App also has the merit of being a non-custodial wallets. This means you have full control of your private keys, allowing you to secure your funds and be able to import your account to any device.

How to buy and sell bitcoin on Relai App?

easy relay 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 app relay, follow these simple steps:

  1. Download the Relai application on your smartphone. You can add our sponsor code: “ZONEBITCOIN” to benefit from 20% off.
  2. Create a portfolio and carefully write down the 12 words in the order listed. Write down precisely what is called a “seed phrase” and do not share it. This is what will allow you to access your funds later.
  3. Tap the “Buy” tab.
  4. Enter the amount you wish to purchase.
  5. Select the frequency of your purchases (once, weekly or monthly).
  6. Press “Next”.
  7. Enter your IBAN number.
  8. Press “Next”.
  9. Check the payment details and send the indicated amount to the payment details provided.
  10. 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:

  1. Open the Relai app and log in to your account.
  2. Tap the “Sell” tab.
  3. Enter the amount you want to sell.
  4. Press “Next”.
  5. Enter your IBAN number and your name.
  6. Tap “Sell”.
  7. 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.

  1. Open your Relay wallet : Open the Relai app on your mobile device or computer.
  2. Go to the “Wallet” page : Tap the “Wallet” tab at the bottom of the screen
  3. Copy your Bitcoin address : Tap the “Copy Address” button next to the Bitcoin address you want to use for the transfer.
  4. Open your non-custodial wallet : Open your non-custodial wallet app or software.
  5. 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.
  6. Paste Relai's Bitcoin address : Paste Relai's Bitcoin address into the address field of your non-custodial wallet.
  7. Confirm the transfer : Press the “Send” button to confirm the transfer.

You have probably noticed that 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.

➡️ Selling 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 1000 CHF is a requirement of the FINMA, the supervisory authority for Swiss financial markets. In fact, foreign exchange transactions of less than 1000 CHF are not subject to registration or licensing. Therefore, no KYC/AML (Know Your Customer/Anti-Money Laundering) process is required. This explains why Relai app has opted for these restrictions. This allows 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

Relai uses Bity, an exchange rate broker, to determine the price of bitcoins when they are sold. The Bity exchange rate is generally competitive, but it can vary depending on market conditions. The site is part of best 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

BenefitsDrawbacks
- 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

To conclude this review on Relai App, we can say that it is a user-friendly and functional application, perfectly suited to beginners as well as more advanced profiles. It is an application particularly suitable for those who are concerned about confidentiality and who want to buy bitcoin without KYC.

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 Relai app company was co-founded in 2019 during a hackathon in Zurich by Julian Liniger who is today 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 Sponsor 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.

Total
0
Shares

Review

Security
9final match.
Conviviality
9final match.
Customer Support
9final match.
Feature
8final match.
Overall
8.8final match.
Relai App is a Swiss application that allows you to buy and sell bitcoin simply, without having to provide an identity document.

ZoneBitcoin Editorial

Passionate about Bitcoin, our editors try to democratize their knowledge through varied articles touching on different subjects.

Leave comments

Your email address Will not be published.

This site uses Akismet to reduce unwanted. Learn more about how your comments data is used.

Total
0
Share

Learn more about ZoneBitcoin

Subscribe to continue reading and have access to the entire archive.

Continue reading

Trade crypto on Changelly

changelly

Crypto tracker

coinstats app

On Google

googlenews

Do not miss :

samurai wallet review

Samourai Wallet: The ultimate Bitcoin wallet for privacy freaks

If there are many principles that are essential in
holytransaction bitcoin

HolyTransaction: fast and cheaper operations for bitcoin

If you like to trade in bitcoin and