Relai Terms & Conditions

Last updated March 9, 2021

1. General & Scope

Relai AG, a company organized and existing under the laws of Switzerland, under company registration number CHE-340.229.036 whose registered office is located at Langstrasse 136 in 8004 Zurich Switzerland (“Relai“), offers a one-time and recurring investment opportunity in cryptocurrencies trough the Relai mobile application (the “App”). The following terms and conditions (the “Terms“) define the rights and obligations of the parties in connection with the use of the Relai App and the Relai website accessible at “Website“).

Your consent to these Terms is given once you tick the box in the pop-up window which appears upon your first connection and which says “I warrant that I read and understood the Relai’s Terms & Conditions regarding the use of the website and application and I agree to be bound by them”.

By ticking the box, you (the “User”) agree to be bound by the Terms, as amended and published on the Website, and to comply with these Terms and all applicable laws and regulations. If you do not agree with the Terms, you should refrain from using the App and/or the Website.

In particular, you acknowledge that you have read and understood the clauses in the Terms relating to Relai’s limitation of liability.

By ticking the box, the User agrees to be bound by the Relai Privacy Policy, as amended and published on the Website ( If the User does not agree with the Relai Privacy Policy, the User should refrain from using the App and/or the Website.

By using the App, the User explicitly warrants that he/she is at least eighteen (18) years old and has legal capacity to contract and that he/she is not barred to use the App or the Website under any applicable law. 

The Terms and Privacy Policy may be updated by Relai at any time without any prior notice requirement. The current version is published on and Always the current version of the Terms and Privacy Policy, as published on the Website, is applicable. Your continued use of the App and/or Website after any such changes, with or without having explicitly accepted the new Terms or Privacy Policy, shall constitute your consent to such changes.

2. Availability

Relai shall endeavour, as far as possible, to keep the App and the Website accessible 7 days a week and 24 hours a day. However, access to the App and the Website may be temporarily suspended due to technical maintenance, migration or updates, or due to breakdowns or constraints in relation with the operation of the internet. Relai is not liable for any malfunction or inability to access the App and the Website attributable to third parties, because of unsuitable equipment of the User or because of any other circumstances not attributable to Relai.

Although Relai intends to provide accurate and timely information on the App and the Website, the App and the Website may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors. Accordingly, the User shall verify all information before relying on it, and all decisions based on information contained on the App and the Website are in the sole responsibility of the User and Relai shall have no liability for such decisions.

3. No investment advice

The information on the App and on the Website does not constitute legal, financial or investment advice and is not intended as a recommendation for buying, trading or selling cryptocurrencies. Relai recommends to seek advice of legal and financial experts before starting buying, trading or selling crypto assets. Crypto assets are volatile. Buying and selling of crypto assets carries with it a high degree of risk. The User should be fully aware of the level of risk involved before trading. Any loss of data, crypto assets or profit is on the User’s sole responsibility. Relai will not be responsible for the consequences of reliance upon any opinion or statement contained herein or for any omission. 

There is always the possibility something unexpected happens with regard to crypto assets that causes the User’s cryptocurrencies to be lost. Relai strongly recommends to the User not to invest more than he/she is willing to lose. The User is solely responsible for any investment decisions.

4. Learning Guide

Relai may publish a Learning Guide on the App and/or on the Website about basic blockchain and cryptocurrency topics. The User can use the Learning Guide free of charge. The information therein comes from publicly available sources and may be amended from time to time by Relai without any prior notice requirement. Relai does not warrant the accuracy, correctness and completeness of the information provided and will not be responsible for that. 

The Learning Guide does only include basic topics about cryptocurrencies and does not constitute legal, financial or investment advice. The Learning Guide does not replace the advice from qualified advisors and the examination as to whether cryptocurrencies meet the User’s own requirements regarding the User’s own objectives, risk appetite, experience and/or knowledge.

5. Simulation Tool

Relai may publish a simulation Tool on the App and/or on the Website where the User can track his/her investments and is able to overview the progress he/she has already made. In addition, the User can freely select between different time periods and hypothetical amounts in order to see what progress he/she would have made with the selected parameters in the past. The Simulation Tool does not simulate the future of the investment. It does not make any predictions. The User can use the Simulation Tool free of charge. 

Relai uses for the Simulation Tool, in particular but not limited to the exchange rates, the financial data from Coin Market Cap ( or other similar financial data providers. Relai does not warrant the accuracy, correctness and completeness of the financial data provided from Coin Market Cap (or other similar financial data providers) and will not be responsible for that. 

6. Purchase of crypto assets

6.1 - General

Relai enables the User to purchase cryptocurrencies like Bitcoin as a one-time purchase or on a monthly, weekly or daily basis by placing a recurring order with the User’s bank. The one-time or recurring purchase amount is specified in advance by the User. The one-time or recurring order must be placed in Swiss Francs (CHF) or Euro (EUR). 

Relai does not sell cryptocurrencies to Users. Relai acts only as an intermediary between the User, the User’s bank, and Bity AG. Bity AG sells the ordered cryptocurrencies directly to the User and the whole purchase process is provided by Bity AG. Therefore, the User has to agree to the terms and conditions of Bity AG prior to the purchase of crypto currencies trough the Relai App. The terms and conditions of Bity AG are available under the following website:

6.2 - Purchase process

The User can use the App without any registration or verification on Relai or Bity AG’s website. Should a) the daily investment amount exceed CHF 1’000.00 and/or b) the annual investment amount exceed CHF 100’000.00, a registration and verification on Bity AG’s website is required. If so, it is in the sole discretion of Bity AG whether they accept a User or not and what kind of information Bity AG requires for a successful registration of the User. Relai does not guarantee a successful registration with Bity AG. Without registration on Bity AG’s website, the User is allowed to invest up to CHF 1’000.00 per day and up to CHF 100’000.00 per calendar year into cryptocurrencies without any registration on Relai and/or Bity AG. 

Before starting the investment, the User has to provide Relai with its valid IBAN number from the bank account he/she uses for the one-time or recurring order. Relai will allocate to the User a reference number (the “Reference Number”) and share both Reference number and IBAN number with Bity AG. 

The User can create a one-time or recurring purchase order and can specify the amount in CHF or EUR, the frequency, and the target asset (for example BTC) he/she would like to invest in. The User shall not create a purchase order for less than the minimum amount of CHF 10.00 and/or EUR 10.00. Through the App, the User will get a transfer information in order to create a one-time or recurring order with his/her bank. The User expressly acknowledges and agrees that he/she is solely responsible for notifying the bank with the correct transfer information – in particular, but not limited to – the Reference number. The User expressly acknowledges and agrees that the amount of money, which the bank will transfer, has exactly to correspond with the investment amount indicated by the User in the App. Otherwise, Bity AG will not be able to allocate the payment to the User and will refund the payment to the User’s bank account. Therefore, possible bank fees must be borne by the User. The User’s bank will transfer the indicated amount directly to Bity AG without Relai ever having access to the User’s funds. 

The exchange rate for cryptocurrencies is set at the time Bity AG receives the payment of the User and can therefore vary significantly from the exchange rate estimated by the App. The transaction costs of the cryptocurrencies, which will be transmitted to the User, are included (see Section 6.4). Bity AG will execute the purchase order within five business days of receipt of payment and allocate the cryptocurrencies to the wallet of the User.

6.3 - Cancellation, refusal of purchase orders

The purchase of cryptocurrencies through the Relai Web App is final, and there are no refunds or cancellations. By placing a purchase order for cryptocurrencies, the User makes a binding offer to purchase the cryptocurrencies chosen by the User. 

However, the User is able to withdraw the one-time or recurring order at any time with his/her bank according to the bank terms and conditions and no more investments into cryptocurrencies will be made. 

6.4 - User's Conversion Fee

Each purchase of cryptocurrency is subject to a fee (the “Conversion Fee“). The applicable Conversion Fee is 3% (+0.00002 BTC fixed fee) of the invested amount. Relai and Bity will not process a transaction if the Conversion Fee and any other associated fees would, together, exceed the value of the User’s transaction. In this Conversion Fee, the transaction costs of the cryptocurrencies, which will be transmitted to the User, as well as the brokerage fee of Bity AG, and the service fee of Relai, are included. 

7. Wallet

On each device the User is installing and using the App, the App creates a digital wallet enabling the User to store cryptocurrencies bought through the App (the “Wallet”). The Wallet is not a “web wallet”. The User does not create an account or give Relai its cryptocurrencies to hold onto. The App does not constitute an account where Relai or other third parties serve as financial intermediaries or custodians of the User’s cryptocurrencies. Relai does not have, at any point in time, access to the User’s funds.

The Wallet will be directly created on the Users’ device (computer, tablet, smartphone etc.). No data leaves this device. If the User loses access to his/her device, the User expressly acknowledges and agrees that any cryptocurrency the User has associated with that Wallet will become inaccessible, unless he/she has created a backup of the Wallet by writing down the Wallet’s private key. The User expressly acknowledges and agrees that he/she is solely responsible for safekeeping the device and for backing up his/her private key in order to be able to restore his/her crypto assets again. 

The Wallet does not manage accounts with – nor has it access to – information such as passwords, private keys, or emails. In order to ensure the User’s security and privacy, no sensitive data is ever saved, stored, or transmitted when the User uses the Wallet. Relai only has access to information that a) has been inserted to the App by the User or b) is publicly available on the blockchain. Relai does not hold the cryptocurrencies of the User. Only the User itself can access and control its cryptocurrencies. The User can freely transfer his/her cryptocurrencies from his/her Wallet to another wallet at any time. 

8. Termination of service

The User may at any time, at its sole discretion, terminate the one-time or recurring order with his/her bank or stop using the App. There is no minimum investment term. It is in the sole discretion of the User whether he/she wants to continue to use the App or not. 

Relai may also terminate its services for the User at any time for any reason, at its sole discretion. Such actions may be taken if Relai deems that the User has breached the Terms in any manner. Additionally, Relai may at any time, at its sole discretion, cease the operation of the service or any part thereof, temporarily or permanently, without giving any prior notice. The User agrees and acknowledges that Relai does not assume any responsibility nor liability with respect to, or in connection with, the termination of the services provided on the Website or with the App. 

However, any termination does not affect the access of the User to his/her Wallet. The User can still freely transfer his/her cryptocurrencies from his/her Wallet to another wallet at any time, or restore the funds associated with the Wallet using the according private key.

9. Taxes

It is in the sole responsibility of the User to determine whether, and to what extent, any taxes apply to any transactions he/she conducts through the App, and to withhold, collect, report and remit the correct amount of tax to the appropriate tax authorities. The User’s transactions history is available on the App. 

10. Warranties

By using the Website or the App, the User warrants that: 

  • The User has a good understanding of the English language (or any other language the Website, the App, these Terms will be translated to), and has read and understood these Terms;
  • The User has obtained sufficient information about cryptocurrencies to make an informed decision to purchase the cryptocurrencies; 
  • The User has carried out an examination as to whether cryptocurrencies meet the User’s own requirements regarding the User’s own objectives, risk appetite, experience and/or knowledge; 
  • The User’s purchase of cryptocurrencies complies with applicable law and regulation in the User’s jurisdiction; and
  • if the User is purchasing cryptocurrencies on behalf of any entity (i) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization, (ii) the User is duly authorized by such legal entity to act on its behalf and to accept these Terms, and (iii) such entity will be responsible for breach of these Terms by the User or any other employee or agent of such entity.

11. Intellectual property rights

Relai is the sole owner of all intellectual property rights related to the Website and the App. Any content presently displayed or made available by Relai in the future, such as text, logos, images, music, digital downloads, and data compilations, is the property of Relai, its affiliates or its suppliers, and is protected by Swiss and international intellectual property law. Relai’s names and logos are trademarks of Relai. Relai’s trademarks and logos may not be used for products or services that are not respectively manufactured or offered by Relai, or in any way that could cause confusion in the public, or in any way that disparages or discredits Relai.

Accordingly, the User agrees not to reproduce, represent, extract and use in any way any or all of Relai’s trademarks, logos, Website or services.

12. Limitation of liability

To the fullest extent permitted by law, any liability by Relai or any person acting on behalf of Relai are herewith excluded. Relai disclaims any and all liability for loss of profits, income, value or data, or indirect, special, consequential, exemplary or punitive damages. 

In particular, the User expressly agrees that in no event Relai or any person acting on behalf of Relai will be liable for any loss or damages incurred as a result of errors, technical or otherwise, transmission failures, system overloads, usage problems, interruptions in services (including but not limited to system maintenance services), any delay in the transmission of information, incompatibility between the Website and your files and/or software (in particular your browser) and/or computer, malfunction, interference, the transmission of a virus onto your computer, unauthorized access (as a result of hacking or piracy activities, for example) or any other failure or inadequacy on the part of telecommunication or network service providers.

The User is aware that Relai is not managing nor responsible of the cryptocurrency associated blockchain.

In no event will the aggregate liability of Relai, whether in contract, warranty, tort (including negligence, whether active, passive or imputed), or other theory, arising out of or relating to these terms or the use of the App, exceed the amount you invested in cryptocurrencies through the App.

13. Severability

If any term or provision of these Terms is invalid, illegal or unenforceable in any jurisdiction, it will be so held to the minimum extent required by law and such invalidity, illegality or unenforceability shall not affect any other term or provision these Terms or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon a determination that any term or provision is invalid, illegal or unenforceable, the parties hereto shall negotiate in good faith to modify these Terms to effect the original intent of the parties as closely as possible in order that the transactions contemplated hereby be consummated as originally contemplated to the greatest extent possible. 

14. Applicable Law and Jurisdiction

These Terms and the use of the Website and the App will be governed by, and construed and enforced in accordance with the laws of Switzerland without giving effect to any choice or conflict of law provision or rule. Any Dispute arising out of or relating to these Terms and the use of the Website and the App, including disputes on its conclusion, binding effect, amendment and termination, shall be resolved by the ordinary courts in Zurich, Switzerland