It wasn’t always easy to buy bitcoin in Italy. Most bitcoin exchanges require you to undergo a lengthy and cumbersome ID verification process that can take days to complete while buying bitcoin on peer-to-peer marketplaces typically means paying a higher price than necessary.
Fortunately, Italian bitcoin investors can now use Relai to seamlessly buy bitcoin.
Learn how you can buy bitcoin in Italy within minutes (and without having to undergo a KYC process) using Europe’s easiest bitcoin investing app.
How to Buy Bitcoin in Italy Using Relai
The “Made in Switzerland” bitcoin investment app allows anyone in the Eurozone to buy bitcoin with only a few clicks and a bank transfer.
It only takes three steps to buy bitcoin with Relai:
- Download the Relai app (for Android or iOS)
- Choose the amount of bitcoin (BTC) you want to buy
- Make the payment using a bank transfer and receive your bitcoin
Now, let’s look at these steps in a bit more detail to help you with your first bitcoin purchase using Relai.
- Access www.relai.ch and download the app onto your smartphone.
- 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 acquire as much as €100 worth of BTC 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 as soon as your bank transfer settles.
Wait! There’s more!
Relai also enables you to dollar-cost average bitcoin (i.e. auto-invest in bitcoin). Read on to find out more.
How to Auto-Invest in Bitcoin Using Relai
Relai enables its users to auto-invest in bitcoin on a weekly or monthly basis. This feature allows you to dollar-cost average into bitcoin.
Dollar-cost averaging is an investment strategy that involves buying a fixed dollar (or euro) amount of an asset or a basket of assets at regular intervals regardless of the prevailing market price.
The idea behind this investment approach is to “smooth out” market volatility and to build a large position in an asset or basket of assets over time (even if you only have a small amount of investable capital.)
As you can probably imagine, dollar-cost averaging lends itself well to bitcoin investing. As the price of bitcoin can be quite volatile, it’s exceptionally difficult to “time the market,” making it almost impossible to regularly buy during price dips.
If you instead buy bitcoin at regular intervals irrespective of the price, you will buy at an average price that will allow you to benefit from bitcoin’s price upside without having to concern yourself with market volatility.
The historical returns confirm this statement.
If you would have invested only $50 in bitcoin every week over the last three years, your bitcoin investment would now be worth almost $50,000.
Dollar-cost averaging bitcoin has never been easier than with Relai.
- To auto-invest in bitcoin using Relai, you follow the same bitcoin purchase steps as above. The only difference is that you set your purchase to weekly or monthly.
- Additionally, you will have to set up a recurring payment to Relai from your bank using the transaction reference found in your payment details.
And just like that, you are auto-investing in bitcoin in a completely hands-off manner!
Downloading Relai is free and you can start buying bitcoin straight away. What’s more, you will not be asked to verify your identity. Buying bitcoin can be THAT simple.