FAQ & support

You find instant answer to your questions here. If not, feel free to get in touch with us! ๐Ÿค—

Frequently Asked Questions

Here you find helpful information about the Relai App specifically. For gerneral info about Bitcoin & co, please check our blog ๐Ÿ‘

About Relai

Currently Relai can be used with Swiss Francs (CHF) and Euro (EUR). We’re working on expanding to more countries and adding more currencies. ๐Ÿ™Œ

Relai takes a 3% all inclusive fee on every buy & sell transaction. That covers our service fee, the brokerage fee, the spread, and the Bitcoin network fee. Everything else, like sending, receiving, depositing, withdrawing and storing your Bitcoin is free from the Relai perspective (BTC network fees may apply).ย 

The exchange rate will be taken when the bitcoin is paid out by our partner Bity.

Relai is available in all European countries but can’t be used with bank account registered in the following high risk countries because they have KYC/AML requirements:

  • Belarus
  • Bosnia and Herzegovina
  • Faroe Islands
  • Ireland
  • Kosovo
  • Malta
  • Monaco
  • Republic of Cyprus
  • Russia
  • Ukraine

Right there on your phone! Actually on the Bitcoin blockchain, but your private keys that give you access to those Bitcoin is stored and encrypted on the local storage of your phone. Make sure to write down your 12 seed words that are provided in the Relai App under “BTC backup” so you can always and on any device recover your Bitcoin again. That’s financial freedom, you are in full control and nobody else! ๐Ÿค 

No, we don’t! We create your Bitcoin wallet when you first download the app, but it’s encrypted and stored on your device, so we never have access to it. On the one hand that’s great because you are in control of your Bitcoin and if something happens to Relai (like if we get hacked or file for bankruptcy) you can’t lose your Bitcoin. On the other hand it’s also a big responsibility for you because you are in control of your Bitcoin and if you lose your 12 seed words then you could lose lose your Bitcoin. So please make sure to write down those 12 seed words that are provided in the Relai App under “BTC backup” and store them safely! There’s no way we can help you to regain access to your Bitcoin in case you lose those 12 seed words and your phone for example. โ˜๏ธ

Bitcoiners would love to stack sats (buy small amounts of Bitcoin) directly to their own external wallet. We would also love to provide this service! But unfortunately we can’t because of regulatory reasons. By law, we need to make sure that the sender of the money is also the receiver of the Bitcoin. We ensure this by creating your Relai Bitcoin wallet and linking it to your IBAN. If you provide us with an external Bitcoin address, we can’t verify wether it’s really yours or not, therefore it would be an illegal transaction. ๐Ÿ™„

No, you can’t. Relai is a simple and minimalistic app designed to empower you to build up long-term savings, and we want to offer you only the best store of value asset in the world: Bitcoin – the digital gold. There’s no other asset, be it in the traditional or in the crypto world, that has performed better in the past decade, and we believe this will be true for the next decade as well. Other cryptocurrencies or “Altcoins” can be interesting and exciting because of their big price moves, but they are very risky and more suitable for short-term gambling, not for long-term saving. ๐Ÿ’ฐ

No, you can use Relai only on your Android or iOS Smartphone.

Download here for Android
Download here for iOS

  1. You donโ€™t need an account, no KYC
  2. You buy Bitcoin directly from your bank account, no deposit
  3. Itโ€™s a non-costudial wallet – your keys, your coins
  4. Relai has an all-inclusive fee of 3%, no hidden fees
  5. Simple and easy to use

How to...

You just download the Relai App from Apple Store or Google Play Store. After opening it and swiping through the three intro slides, you press “start” and wait a couple of seconds until your own bitcoin wallet is created. Make sure to go to “settings”, click “backup BTC wallet” and write down your 12 seed words to save you from losing your bitcoin. Done! You’re all set up and can begin to buy & sell bitcoin directly from your bank account! ๐Ÿ‘Œ

Here’s a quick video instruction.

You just open the Relai App and tap the “buy BTC” button. Then you select the amount you want to buy Bitcoin for (e.g. 100 EUR) and wether you want to make it a single or a weekly or monthly recurring investment. You press the “next button” which takes you to the next screen where you put in you IBAN bank number from where you’ll send the money. You press the “next” button again which takes you to the last screen with the payment details. Now all you need to do is to send the exact amount you indicatedย (e.g. 100 EUR) to these payment details. Please don’t forget to put the payment message that is shown in the Relai App (e.g. Bity.com ABCD-EFGH) into the message field in your bank transaction. That’s it! You’ll receive your Bitcoin as soon as your money has been transferred. ๐Ÿ‘Œ

Here’s a quick video instruction.

You do exactly the same as if you would just buy Bitcoin, but on the first screen where you type in the amount you want to buy (e.g. 100 EUR) you select “weekly”. When you do you bank payment, you make it a weekly recurring order with the exact amount you indicated and the according payment message (e.g. Bity.com ABCD-EFGH). Done! Now you can sit back and relax your bitcoin automatically dropping in every week. ๐Ÿคค

Here’s a quick video instruction. ย 

You just open the Relai App and tap the “sell BTC” button. Then you select the amount you want to sell. You press the “next button” which takes you to the next screen where you put in your IBAN bank number where you want to receive the money and your name. Now all you need to do is to wait until the amount you indicatedย (e.g. 100 EUR) is being transferred to your bank account, which usually takes 1-2 days. That’s it! โœŒ๏ธ

Here’s a quick video instruction.

Good question! We are basically a Bitcoin ATM, just digital. You put money in and get Bitcoin out, and vice-versa. Relai never holds your funds and is also regulated like a Bitcoin ATM, namely as a cash exchange business. Such a business can be pursued without having to register or verify customers as long as the according Swiss AML laws are being respected. For Relai this basically means ensuring that the sender of money and the receiver of Bitcoin are the same person, and that no customer exchanges more than 5’000 CHF per day & 100’000 CHF per year. We do ensure this with our setup, and therefore yes: this is legal! ๐Ÿค“

  1. Go to your investments
  2. Swipe the pending payment on the left side
  3. Delete the payment

On weekdays only a few hours. If you make the payment on a weekend or holiday, it will be executed the next business day.ย 

Please be sure to include the payment note. But your own, not the example from the Screenshot.

Problems

Nothing is wrong, all good!๐Ÿ™‚ You will receive your Bitcoin as soon as your money has been transferred to our bank account. You did make a bank payment, right? Some users think the money is just charged directly from their bank account, but that’s not the case. You need to pay the exact amount you indicated in the Relai App (e.g. 100 EUR) with your bank. It’s like your order Bitcoin, then you pay, then you get it delivered! ๐Ÿค“

Here’s a quick video instruction on how to pay your pending order.

Nothing’s wrong, all good! ๐Ÿ™‚ The good news is that you can’t lose your money, it’s all safe! If your bank payment failed, you simply & immediately get reimbursed. The most common reason why a bank transaction fails is that you have forgot to include the payment message (e.g. Bity.com ABCD-EFGH), or you got something wrong with it, or you put it into the reference field instead of the message field in your ebanking. It also rarely happens that a payment gets rejected by our broker Bity because they think it could be a fraudulent transaction, in which case you should try again with a small amount (e.g. 20 EUR), after that one is cleared it should all work. It also happensย from time to time that a payment gets rejected by your bank because they don’t like the fact you are buying Bitcoin, in which case you should call them and explain Bitcoin to them. ๐Ÿ˜‰

Not a problem as long as you have your 12 seed words that are provided in the Relai App under “BTC backup”. If you lose your phone or buy a new one, you can simply download the Relai App again on the new device and when you first open it, instead of “start” you press “restore”. You can then type in your 12 seed words and the IBAN you are using Relai with, and boom! Your Bitcoin balance and transaction history appears again like nothing happened. ๐Ÿ˜ƒ

Here’s a quick video instruction.

Nothing’s wrong, all good! ๐Ÿ™‚ The Bitcoin network may have some latency from time to time when it is heavily used. This leads to longer waiting times until your sending transactions are being processed and confirmed. Relai can’t influence this unfortunately. So all you can do is wait it out. Usually after a couple of hours or at most after one day, the sending transaction should go through. ๐Ÿ‘Œ

More questions?

Send us a message explaining your query, we are happy to help! ๐Ÿ˜Š