It is more difficult to buy bitcoin in Spain than it needs to be. Most bitcoin exchanges require you to complete a lengthy ID verification process and deposit funds before you can make your first transaction. The good news is that there’s a better option available now.
Europe’s easiest bitcoin investment app, Relai, allows you to buy bitcoin within minutes and without ID verification or pre-funding an account using a simple bank transfer.
In this beginner’s guide, you will learn how to buy bitcoin in Spain using the Relai app.
Bitcoin Investing Made Easy
Arguably, the simplest way to buy bitcoin with euros is using Relai. In fact, buying bitcoin with Relai is so simple, it only requires three main steps:
- Download the Relai onto your phone
- Choose the amount of bitcoin you want to buy
- Make a bank transfer to complete the purchase transaction
And that’s it!
Now, let’s have a look at the bitcoin buying process in detail to make sure your first bitcoin purchase using Relai goes down smoothly.
- Pick a passcode for the app and make sure you back up your wallet. You can find the wallet backup function in the ‘Settings’ section. (Write down your backup phrase and store it somewhere safe. )
- Access the ‘Wallet’ section and input 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. From the next purchase onwards, you can buy as much as €900 a day.
- Click ‘Next’ to see the payment details that you will need for your bank transfer.
- Make the payment to Relai’s brokerage partner, Bity, using a bank transfer, and make sure to add the reference number to the transaction.
And there you go!
You will receive your bitcoin in your Relai wallet as soon as your bank payment settles.
But wait! There’s more.
Bitcoin Auto-Investing Made Easy
Relai also empowers its users to auto-invest in bitcoin on a weekly or monthly basis in a completely automated and hands-off manner to allow even small investors to build a sizeable position in bitcoin over time.
Auto-investing in bitcoin enables investors to apply the popular investment strategy called dollar-cost averaging in a fully automated fashion.
Bitcoin dollar-cost averaging refers to buying bitcoin at regular intervals over a long period of time – regardless of where BTC is trading – to build a large holding in bitcoin while reducing the effects of market volatility on the portfolio.
Setting up auto-investing using Relai works in the same way as setting up a single buy. The only differences are that you need to set your buy to weekly or monthly and you need to schedule a recurring bank payment as opposed to making a singe payment.
And that’s it! That’s how easy bitcoin investing can be with Relai.