Relai is Europe’s easiest Bitcoin app, buy an sell Bitcoin without registration and KYC.
In December 2020 I stumbled upon Relai and wrote my first article about this startup. Now it is time to take a look what happened in the meantime. Spoiler: Relai is constantly developing and reach out to more and more users.
It began in early 2021 with minor app updates like: Push Notifications ,show Fiat values of each BTC transaction, BIP21 support and a more reactive app. Because of the growth they created several national telegram channels, for instant Relai Italy channel and the Relai English channel.
In Summer 2021 they raised over 2,7 million $ in a series A funding round. Redalpine, Polytech Ventures, Fulgur Ventures and ACE & Company contributed to the series A. This money was used to become its own broker (Virtual Asset Service Provider (VASP)) and Relai is no longer dependent on its previous partner Bitly.
Since summer 2021 it is also possible to buy and send bitcoin directly to an external hardware wallet. You only have to prove via signing, that the wallet belongs to you. You can find an instruction here.
In Autumn 2021 Relai completely overhauled its app with a completely new branding and a more streamlined user experience. With the release of the new app they introduced a new fee structure as well, it´s quite easy:
Relai basic fee start at 2,5%
It goes down to 2% for transaction > 100€/CHF
If you set up an automated savings plan you can drop the fee by another 0,5%
Finally, if you use a refcode like “CRYPTONEWS” you get another 0,5% off
3 screens of the “old” relai app:
3 screens of the new relai app:
The last archived milestone was a successful crowdfunding via crowdcube. Relai aimed for 1,5€ million and finally 863 Investors raised over 2,1€ million. So bottom line is: Relai is a successful startup story (till today) and I am exciting what will happen in the future, maybe we see lightning support or they come up with completely new ideas to bring bitcoin to the masses.
I can say Relai is THE easiest way to buy bitcoin in Europe, no Registration, no KYC, no bullshit. Simply head to your app store (Android/iOS), download the app, enter the refcode “Cryptonews” and start stacking your sats.
This post was first published on Publish0x