While there are many bitcoin exchanges that allow you to buy bitcoin with euros, they typically require you to undergo a lengthy and cumbersome ID verification process before you can start trading. That makes it more difficult to buy bitcoin in Austria than it needs to be.
To address this issue, we have built Europe’s east bitcoin investing app, Relai, to allow anyone to buy bitcoin using their smartphones.
In this guide, you will learn how to buy bitcoin in Austria within minutes and without the need for ID verification.
How to Buy Bitcoin in Austria Using Relai
Relai allows anyone in the Eurozone to buy bitcoin with a few clicks in a smartphone app and a bank transfer.
Buying bitcoin using Relai is so easy, it only takes three simple steps:
- Download the Relai app (available for Android or iOS)
- Choose the amount of bitcoin you want to acquire
- Make the payment and receive your BTC
Now, let’s look at these steps in a bit more detail to help you with your first bitcoin transaction on Relai.
- Access www.relai.ch and download the app.
- Open the app, select a passcode, and back up your wallet. You can find your wallet backup in the ‘Settings’ section.
- Next, click on the ‘Buy Bitcoin’ section and put in the amount of bitcoin you want to purchase. You can start with as little as €10 and buy as much as €100 on your first purchase. From your second purchase onwards, you can buy as much as €900 per day.
- Once you have decided how much bitcoin you want to purchase, click ‘Next’ to view the payment details.
- Lastly, type the payment details into your banking app to make the payment to Relai’s brokerage partner Bity. Don’t forget to add the reference number!
And that’s it!
You will then receive your bitcoin in your Relai wallet.
Auto-Invest in Bitcoin Using Relai
Wait. There’s more!
Relai also enables its users to auto-invest in bitcoin.
Our auto-invest feature enables investors to dollar-cost average into bitcoin in a fully automated, hands-off manner.
Dollar-cost averaging (DCA) is an investment strategy that involves buying a fixed dollar (or euro) amount of an asset at regular intervals regardless of the market price.
The idea behind dollar-cost averaging is to build a large position in an asset over time while smoothing out market volatility.
For small investors that want to build a large position in bitcoin but are concerned about the digital currency’s price volatility, dollar-cost averaging is an ideal investment approach.
Using Relai’s auto-invest feature, you can dollar-cost average bitcoin automatically to grow your pot of “digital gold” in your sleep.