Relai App Test: our Experiences with the Bitcoin Savings Plan Application

While the number of Bitcoin investors has risen enormously in recent years, we can also see a change in the way investors buy Bitcoin. Instead of speculating on the performance once, more and more Bitcoin enthusiasts are regularly investing in the cryptocurrency via a savings plan. Applications such as the Relai App have now specialized in this.

CoinPro has taken a closer look at the Bitcoin savings plan app and provides you with all the most important information about Relai in this article.

What is Relai?

Relai is a Bitcoin app from Switzerland. Users can easily buy Bitcoin via the app and invest in the oldest and largest cryptocurrency via a savings plan. Relai was founded in 2019 by Julian Liniger and Adem Bilican in Switzerland. Relai deliberately focuses on trading Bitcoin and does not offer altcoins such as Ethereum, Cardano or XRP.

Relai Fees & Costs

The Relai fees are slightly higher than those of a conventional crypto exchange. It is common for the costs of buying Bitcoin to increase with the simplicity of the application. Nevertheless, Relai has been able to significantly improve the fee model in recent years. The fees start at 2.5 percent of the purchase amount. However, if you meet certain conditions, the fees drop to as low as 1 percent. That’s still cheaper than other brokers like Bison or Bitpanda.

First of all, you save 0.5 percent on trading fees by using the CoinPro code when you download the Relai App. The costs also decrease by 0.5 percent each if you invest at least EUR 100/CHF or create a savings plan. This results in the following fee model:

	FEES
Standard fee	2.5%
CoinPro Code	-0.5%
Savings plan	-0.5%
from 100 EUR/CHF	-0.5%
Total	1%

So you can see that it is also possible to invest in Bitcoin very cheaply with Relai. Especially considering how easy it is to buy Bitcoin with Relai, the fees are very fair.

Relai Deposits and Withdrawals

If you want to buy Bitcoin via Relai, this is currently possible via bank transfer or credit card. Other payment methods are not supported. To invest in Bitcoin automatically, you need to set up a standing order. While payments via bank transfer take two to three working days, you can invest in Bitcoin immediately via credit card. Ultimately, it is a question of when you want to buy Bitcoin. According to Relai, an additional fee of 1.5% to 3.0% per transaction is charged for payments with a credit card. Even if that seems very high, this is more the rule than the exception in the crypto sector. Coinbase, for example, charges 3.99 percent for the purchase of cryptocurrencies with a credit card.

Good to know: You don’t deposit the money with Relai, but buy the Bitcoins directly with your transfer. This means that, strictly speaking, it is not a deposit.

If you want to transfer your Bitcoins to your own wallet, Relai relies on collected transactions. This means that Relai first waits for several withdrawal requests before the team transfers the Bitcoins to your wallet. This saves Relai otherwise high network fees. This also pays off for you, as lower fees are charged.

Relai Bitcoin Wallet: how Does the Custody Work?

Your Bitcoins are not held by Relai itself. Because you can have the private key displayed and are therefore the only person who has control over your coins. In this case, it is a non-custodial wallet.

Relai Support

Ideally, you shouldn’t have to rely on support from Relai. Nevertheless, it can always happen that you have questions about the app or one of your deposits and withdrawals. Relai has provided a very comprehensive help desk for this. You can use a search function to access more than 40 articles and receive answers to all questions. You will receive particularly detailed information on all topics related to the Bitcoin Wallet from Relai.

Otherwise, you can reach Relai customer service on weekdays via live chat or email. The Relai team is also active on Telegram and is in direct contact with the app’s users. In general, a look at the Relai ratings in the app stores shows that most users are extremely satisfied with the app. The same applies to experiences with Relai customer service.

Relai App User Interface and User Friendliness

The Relai app aims to make buying Bitcoin easier, especially for beginners. This is quickly noticeable when you look at the app’s user interface. The download and registration only take a few minutes before you get complete access to the app. You can then buy Bitcoin once or set up a savings plan in just a few steps. The app itself is very clearly structured and gives beginners a very good overview. In addition, the Relai app guides you step by step through the entire purchase process.

Relai Instructions

After we have given you the most important information about the Relai app, we will show you a step-by-step guide on how to open an account with Relai.

Step 1: Download the Relai App (Bonus Code)

The first step is to download the Relai App. Important: If you use the CoinPro invitation link, you will receive a 0.5 percent discount on all your Bitcoin investments. You can download the Relai app from the App Store from Google or Apple or use the following link for Relai registration.

Step 2: Relai App Settings

Relai will then ask you to make the app’s settings. You don’t have to enter any personal data, but only specify in which language you want to use Relai and whether you want to buy Bitcoin with Swiss francs or euros. Finally, you have to agree to Relai’s terms of use and privacy policy. Otherwise you cannot use Relai’s service.

Step 3: Buy Bitcoin

That’s it already. You see the Relai App user interface. You can now start buying Bitcoin via the Relai App. To do this, select the blue button “Buy Bitcoin”.

Step 4: Determine the Execution of your Savings Plan

You can now specify whether you want to invest via a savings plan or whether it should be a one-off purchase. Positive with a Bitcoin savings plan: The fees decrease by a further 0.5 percent. You can choose between different execution cycles. The execution cycle you choose has no influence on the fees at Relai.

Step 5: Choose Payment Method

In the next step, Relai will ask you whether you want to pay by bank transfer or credit card. The credit card is suitable if you want to buy Bitcoin immediately. Otherwise, you can use the bank transfer, although in this case you should allow two to three working days for processing. In most cases, however, this is the better way, as it is less important when exactly you buy Bitcoin, especially with a savings plan. You also save yourself deposit fees of 1.5 to 3 percent.

Step 6: Confirm Bitcoin Purchase

After you have entered your payment information, you will be shown all the information about the purchase, including the percentage and absolute fee. The entire purchase process only takes a few minutes.

Conclusion: Relai Convinces in the Test

In summary, we can say that the app delivers exactly what it promises. It is very easy to invest in Bitcoin and thus participate in the long-term performance of Bitcoin.

We would like a desktop version of the app. Although some users of the app want more cryptocurrencies, Relai deliberately relies exclusively on Bitcoin. Therefore, the Relai app should not be evaluated based on the number of coins offered.

Frequently Asked Questions about Relai