Relai: buying Bitcoin without KYC

Relai bitcoin app: what is it?

Relai is an app dedicated to buying bitcoin without KYC, among the best on the market. All while respecting legality, of course: how is this possible?

The company is based in Switzerland and the regulations are different from those in other countries.
In fact, on Swiss soil it is possible to buy up to 1000 CHF per day in BTC without providing any identity. Other users can also benefit from this feature and thus avoid turning to other services where the KYC procedure is mandatory.

However, we do not think that the purchase is untraceable: being an application, we will have to use electronic payment methods in order to proceed. So whether it is credit card, Apple Pay, or bank transfer, there will still be a thread leading to us.

Therefore, Relai protects anonymity in the sense that it does not require any of our data, which is excellent in these times where privacy is an increasingly valuable “asset.” At the same time, however, no illicit activities of any kind are promoted: every single penny that enters Relai is perfectly traceable.

We said that the service consists of a mobile application, which can be downloaded to both Apple and Android devices. Therein lies another strong point of Relai: the app integrates a noncustodial wallet. Therefore, we will be the ones holding the private keys, protecting ourselves from any adverse event that should affect the company.

When buying cryptocurrencies and leaving them on the exchange, usually the wallet we are offered is custodial. Technically then, the ownership of coins and tokens is with the exchange; as the famous saying goes:

“Not your keys, not your coins.”

If unfortunately the exchange were to have liquidity problems, or worse fail, we would risk losing our cryptocurrencies. This is because the private keys are not ours and therefore we do not have control over the assets deposited on the wallet.

Using Relai protects us from such situations, as well as from surrendering our personal data to another company.

Ready to get started? Download the Relai app and use the referral “GATEWAY” to benefit from a discount on fees. The code is entered by clicking on Profile -> Settings -> Referral Codes. Then simply click on Add invitation code and type in “GATEWAY”.

"Relai is a dedicated app for buying bitcoin without KYC, among the best on the market"

Buying bitcoin with Relai

After downloading the Relai app and configuring the wallet (very simple procedure) we will be able to buy bitcoin right away. To do so, at the first transaction we will be able to click on the central Buy your first bitcoin button. Alternatively, we will just select the blue button with two arrows inside it pointing in the opposite direction and then click on Buy.

Having done this we will immediately find ourselves in a page from which we will indicate the amount in fiat currency. We emphasize that the daily limit for buying without KYC is set at 1000 CHF.

Having indicated the amount and clicked the Next button, here we come to the choice of purchase frequency. There are three options available:

• Once only: we will buy bitcoin only in this circumstance. Further purchases will require repeating the process we are dealing with.
• Weekly self-investment: on a weekly basis a purchase of the amount indicated above will be made. For example, we opted for €50? Great: every week Relai will buy €50 in bitcoin for us.
• Monthly self-investment: identical to the previous point but on a monthly basis. Great solution for those who make an accumulation plan and do not want to have any worries.

Having made the choice and once again pressed the Next button, here we come to the payment methods. Here we find three alternatives:

• Bank transfer: recommended as there are no additional fees. On the other hand, it will take 1 to 3 business days for crediting.
• Credit/debit card: there are additional fees but crediting is immediate.
• Apple Pay: method reserved for smartphone owners of the Cupertino brand, instant but with additional fees.

If we are not in a hurry, bank transfer is obviously the recommended choice. Opting for this route we will be asked to enter the IBAN from which we will make the payment: this is the only way Relai can track the transaction and credit us with the bitcoins purchased.

The BTC purchased are spun off to our Relai wallet, which, we repeat, is non custodial. To increase security, we recommend keeping the PIN activated and pinning the seed phrase in a safe place (possibly not on electronic devices). We find the options under Profile -> Security.

Alternatively, we can indicate another address to which Relai will send our BTC. Still from Profile, we first click on Settings and then on Advanced Features. By enabling them we will be able to buy bitcoins in an external wallet.

If we want, we can always move the funds later. Relai offers a wallet that can not only send but also receive BTC, so we will not have any problems.

One thing is certain: it only takes a few clicks to be comfortable. Relai is an intuitive and easy-to-use application designed even for users without familiarity and experience.

""Relai is an intuitive, easy-to-use application designed even for users without familiarity and experience.""

Selling bitcoin with Relai

How to sell bitcoin on Relai? Again, simplicity dominates the scene.

We click on the usual center button and select Sell. We indicate the amount and set up the payment details. That’s it, in a few moments we will have completed the transaction.

If we wanted to sell bitcoin but stay in crypto, we can turn to other non custodial services that allow us to convert BTC to other coins, for example Changelly. However, we always put in higher fees than the average.

Let’s move right to the topic of fees and find out what Relai’s costs are.

"Selling bitcoin on Relai is super easy: a few seconds and it's all done"

Relai fees

Here’s the sore point: Relai is a great app but the fees are quite high, especially when compared to some traditional exchanges.

Relai buying fees

The base fees are set at 2.5 percent, a number that we admit is a little scary. However, it is possible to reduce the figure significantly.

First of all, transactions greater than or equal to €100 benefit from a good half a point less, thus dropping to 2 percent.

By setting an auto-investment, whether weekly or monthly, there is an additional cut of -0.5.

Finally, applying an invitation code adds another 0.5 less. By the way, if you want to support our work, please remember to enter the GATEWAY referral: thank you!

So, potentially fees can reach the more reasonable figure of 1%. It really takes very little: invitation, monthly PAC of 100€ and you secure the most advantageous rate.

Relai sales commissions

It’s up to sales commissions. The base is 2%, easily halved.

Just have an invitation code and make transactions of 100€ or more, no big deal.

Watch out for network commissions (gas fees): sending and receiving bitcoins may incur extra costs.

Relai: privacy and security

Relai proves to be an application with many strengths: easy to use, secure, and privacy-protecting.

Especially on the topic of security, we already know the the importance of holding one’s own private keys. Thanks to the built-in noncustodial wallet, Relai puts us in a peace of mind.

However, the user will still have to carefully keep the seed phrase, set the pin and possibly even activate fingerprint access. Since we are solely responsible for the funds, we will have to be careful and precise.

Relai’s jarring note, however, lies in the fees. If we think about it, even reducing them to 1 percent, they are still high, especially when compared to exchanges like Binance. This is the price you pay for preserving privacy and ownership of your cryptos; a fee that all in all you can happily spend.

Have you experienced using Relai before? Do you know of any alternatives? Our social channels are at your disposal: tell us about your experience with a comment.