If you want to buy and sell bitcoin you often have to do a KYC process to identify yourself. Relai.ch offers a very nice service to buy bitcoin without providing any personal data. It offers an app for Android and iOS, simply install it, create a wallet and send money to it from your bank account, the only sensitive data you give away is your bankaccount (IBAN/Name) but you can even avoid this by sending from a different bank account. Maybe you can ask your employer to send a part of a salary to relais service, which sends you instantly btc in your wallet. I tried it yesterday and it works flawless. This  service is perfect for dollar cost averaging, just choose the amount and timeframe and setup a standing order in your bankaccount. It took my only about 5 minutes.

Relai is based in switzerland and started its service in July 2020, it offers its service to all European countries, excluding: Belarus, Bosnia and Herzegovina, Faroe Islands, Ireland, Kosovo, Malta, Monaco, Republic of Cyprus, Russia and Ukraine.

But what happen if you lose your phone? You can backup your wallet (seed) or send your received btc directly to another wallet. Like mentioned earlier, I tried it and the settlement duration was under 24h and I could instantly send my bitcoin to my hardware wallet.

Fee wise relai.ch is quite high, it takes 3% of each transaction, but if you use my referral code REL1201 you only pay 2,5% in fees.

Regarding the exchange rate, you have to have in mind, that the exchange rate will be taken when your payment reaches relais broker (bity), this is could be an issue if the price falls/rises during transaction time from your bank to relai. You can find a pretty good FAQ at https://relai.ch/faq/

Key takeaways:

You don’t need an account, no KYC

You buy Bitcoin directly from your bank account, no deposit

It’s a non-costudial wallet – your keys, your coins

Relai has an all-inclusive fee of 3%, no hidden fees

Simple and easy to use

Use ref REL1201 to reduce the fee to 2,5%