Buying bitcoin in Luxembourg is not as easy as it should be. Most bitcoin exchanges require you to complete a lengthy onboarding and ID verification process and need you to deposit finds before you can even make your first purchase. Fortunately, there is a better option.
Europe’s easiest bitcoin investment app, Relai, enables anyone in Europe to buy bitcoin within minutes and without the need for ID verification or pre-funding an account.
In this step-by-step guide for beginners, you will learn how you can buy bitcoin with Relai within minutes using a simple bank transfer.
Buying Bitcoin Made Easy
Relai arguably provides the easiest way to buy bitcoin with euros. All it takes is three simple steps from downloading the app to completing your first bitcoin purchase.
The three-step buy process works as follows:
- Download the Relai app onto your smartphone
- Put in the amount of BTC you want to buy
- Make a bank transfer to complete the purchase transaction
Buying bitcoin can be that simple.
Now let’s look at the process in more detail to make sure you know exactly how to buy your first bitcoin with Relai.
- Next, choose a passcode for the app and back up your wallet. You can find the wallet backup feature in the ‘Settings’ section. (Note down your backup phrase and store it somewhere safe. )
- Then, access the ‘Wallet’ section and put in the amount of bitcoin you want to buy. You can start with as little as €10 and buy as much as €90 on your first purchase. (After your first buy, you can buy as much as €900 a day.)
- Click ‘Next’ to see the payment details you need for your bank transfer.
- Finally, make the bank payment to Relai’s brokerage partner, Bity, and make sure to add the reference number in the bank transfer.
And there you go!
You will receive your bitcoin as soon as your bank transfer payment settles.
Dollar-Cost Average Bitcoin Using Relai’s Auto-Invest
Wait, there’s more!
Relai also enables you to dollar-cost average bitcoin using recurring weekly or monthly bitcoin auto-buys.
Dollar-cost averaging bitcoin is an investment strategy where you buy small amounts of bitcoin at regular intervals regardless of where the price of bitcoin is. The idea behind this investment approach is to build a large bitcoin holding over time while reducing the effects of market volatility.
The process to set up bitcoin auto-investing with Relai is essentially the same as making a single buy:
- Download the app
- Input the amount of bitcoin you want to buy weekly or monthly
- Set up a recurring bank transfer for the weekly or monthly bitcoin buys
And that’s it!
Dollar-cost averaging bitcoin automatically can be that easy with Relai.