How to Buy Bitcoin with Relai App

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@relai_app lets users buy #Bitcoin easily with euros and Swiss francs. How to buy BTC with Relai and why is it a good tool in a satstacker’s toolbox? 🧵 👇

1/11 The Relai app is a self-custodial Bitcoin wallet. You can send, receive, buy and sell BTC with it. When you buy BTC with Relai, you own the private keys to your coins. Relai doesn't custody your funds.

2/11 Relai is company based in Switzerland and falls into the category of “soft-KYC” BTC-buying apps. This means that identity verification is not necessary when buying BTC under 1,000 EUR/CHF/ per day or 100,000 EUR/CHF per year. Relai is Bitcoin-only.

3/11 Today I'm buying 21 EUR worth of Bitcoin through Relai. The base fee is 2.5% of the amount, but you can reduce it down to 1%.

4/11 You will get 0.5% deducted from your fee each time you: ✅ Invest more than 100 EUR (-0.5%) ✅ Set up a weekly or monthly auto-investing plan (-0.5%) I'm only applying an invite code now so my fee is 2%.

5/11 I'm using @backlaidluke's code FUCKFIAT because it resonated with me. But if you liked this thread and want to support Yours Truly, you can also use my less confrontational TEEMUPLEB referral code to get the same benefits.

6/11 You can transfer the fiat amount by a bank transfer to Relai's IBAN account, and it gets converted to your BTC balance. In this case, the recipient name of the bank transfer shows as Relai. It takes about 1 business day for your funds to appear.

7/11 You can also pay with credit card or Apple/Google Pay. This incurs extra fees, but you will get your Bitcoin instantly. For larger buys, it's possible to verify your identity for higher limits.

8/11 With Relai's affiliate program, you can get a custom referral code. I got my TEEMUPLEB code just recently by reaching out to them. Or if you wish, you can use the default RELXXXX... code they give you. Affiliates get 0.5% of the amount their referrals trade.

9/11 Ok, what's the verdict for Relai? I think it's a good app to stack sats. The onboarding is simple and fast, and also the buying process is smooth.

10/11 Although there's no ID verification, I still don't count Relai as fully "non-KYC". This is because the buying process is not as private as it is with some p2p exchanges. Your bank (and therefore potentially the government) knows that your fiat goes to Relai to buy BTC.

11/11 Relai converts your fiat deposit instantly to Bitcoin, and depositing with a bank transfer takes time. For this reason, it's not an optimal app for trading, but more for stacking BTC without KYC rituals or to swing trade.