Buying bitcoin in Portugal is unfortunately not as easy as it should be. The majority of available bitcoin exchanges require you to to undergo a lengthy onboarding process and often need you to deposit funds before you can make your first purchase. Fortunately, for bitcoiners living in Portgual, there is a better option.
The Swiss-made bitcoin investing app Relai enables you to seamlessly buy bitcoin in Portugal without the need for ID verification or pre-funding an account. Best all, the entire bitcoin purchase process only takes minutes from downloading the app to making your first bitcoin purchase.
Buying Bitcoin in Portugal with Relai: Here’s How!
Relai is Europe’s easiest bitcoin investing app that allows anyone to buy bitcoin hassle-free and within minutes using a simple bank transfer and a few clicks in the Relai app. The process to buy bitcoin in Portugal using Relai is so easy that it only requires three steps:
- Go on relai.ch and download the app (available for iOS and Android)
- Put in the amount of bitcoin you want to buy in euros
- Execute a bank transfer to complete the bitcoin purchase
In this video, you will see how quick and easy it is to purchase bitcoin using Relai.
Now, let’s break it down into smaller steps to make sure you know exactly how you can buy your first bitcoin using the Relai app.
- Download the Relai app (iOS or Android)
- Choose a passcode for the app and back up your wallet. You will find the wallet backup functionality in ‘Settings.’ (Write down your backup phrase and store it somewhere safe. )
- Next, put in in the amount of bitcoin you want to buy. (As little as €10 and buy as much as €90 on your first purchase.) From the next purchase onwards, you can buy up to €900 per day.
- Click ‘Next’ to view the payment details that you will need for your bank transfer.
- Finally, make the payment to Relai’s brokerage partner Bity using a bank transfer. Be sure to add the reference number to the transaction!
And there you go! 😃
You will receive your BTC in your Relai wallet as soon as your bank payment settles.
Hold on! There’s more.
How to Set Up a Bitcoin Savings Plan with Relai
Using Relai, you can set up a bitcoin savings plan where you to auto-invest in bitcoin on a weekly or monthly basis using recurring bank transfers.
The idea of a bitcoin savings plan is simple. You invest a relatively small amount each week or month to slowly grow your bitcoin savings over time.
The investment strategy behind the bitcoin savings plan is called dollar-cost averaging. Dollar-cost averaging bitcoin refers to regularly buying small amounts of BTC to build a large position in bitcoin over time while negating some of the effects of price volatility.
When you buy bitcoin automatically every week using a bitcoin savings plan, for example, your entry price into bitcoin will average out over time. This allows you to benefit from the digital currency’s potential price increase without having to worry about buying “just at the right time.”
Setting up a bitcoin savings plan with Relai works the same way as a one-off purchase. The only difference is that you have to set your purchase to weekly or monthly and create a recurring bank transfer as oppposed to make a single bank payment.
That’s it! 😃