Welcome: Relai
Welcome Relai to the ego death family!
“Switzerland has always valued self-sovereignty, privacy, and financial literacy,” says Relai’s CEO Julian Liniger. Perhaps it’s unsurprising then that Switzerland is the perfect place to embrace Bitcoin.
Today we announce our investment into Europe’s leading Bitcoin-only platform, the Swiss-made Relai.
Why is Relai the best Bitcoin app?
Out of curiosity, I thought I’d just ask ChatGPT. This was the response I received to that exact question, and it was pretty great so I’m starting with it here:
“Relai is a Bitcoin app that allows users to buy, sell, and store Bitcoin. One of the key features of Relai is that it simplifies the process of buying Bitcoin. The app allows users to buy Bitcoin with their bank account or credit card in just a few taps, and it automatically sends the Bitcoin to the user's personal wallet. Relai also has a simple and user-friendly interface, which makes it easy for even novice Bitcoin users to navigate the app.
Relai also offers a few other features that set it apart from other Bitcoin apps. For example, Relai offers automatic Bitcoin purchases, which allows users to set up recurring purchases of Bitcoin on a weekly or monthly basis. This feature can be useful for investors who want to regularly add to their Bitcoin holdings without having to manually buy Bitcoin every time.
Another key feature of Relai is that it allows users to store their Bitcoin in a non-custodial wallet, which means that the user controls their own private keys. This is an important security feature, as it means that the user is in control of their own Bitcoin and is not relying on a third party to secure their assets.”
Why non-custodial is key.
That last part is super important. To emphasize it, Relai has made it super easy and simple to buy Bitcoin in a non-custodial way - just as easy, or even easier, than custodial. There is a huge amount of technology and innovation behind the scenes that has enabled this smooth flow that a person sees - to buy even their first ever Bitcoin during an elevator ride.
Furthermore, as regulation around custodial options is starting to take shape in both Europe and elsewhere, taking a non-custodial approach is more important and valuable than ever.
With the new MICA regulation coming into force, any transfers from custodial to non-custodial wallets will require “enhanced due diligence” - making it difficult and slow to make this transfer. Parties will need to provide huge amounts of data to regulators to effect such transactions. With Relai, given it is non-custodial in the first place, that all happens in the background and makes it much easier for Relai customers.
Just as with Bitcoin itself, community is core to Relai
We have been super impressed by the Relai team and what they have built to date - especially the fact that most of their growth has been organic. They’ve built a loyal community of Relai-ers around them who continue to support Relai and bring in new community members.
Relai has a focus on education, on helping people new to Bitcoin to understand it, and give back to the community by providing interesting materials including their “Bitcoin Basics” course.
Community engagement is core. The entire team, from the CEO down, is open to the community and engages with them every day. Community is fundamental to Bitcoin as a whole and Relai recognizes that, and does everything they can to support
Switzerland is the best country in Europe for a Bitcoin company
Switzerland has a very collaborative approach to Bitcoin + Crypto regulation.
The Swiss government has taken a proactive approach to regulating the industry with clear guidelines and regulations in place that provide certainty and stability for businesses.
According to Liniger “the Swiss government has shown time and again that it’s willing to talk to Bitcoin companies to find the best solution for all.” If only regulators in the rest of the world would take the same approach!
Buy Bitcoin without KYC with Relai
Right now, it’s possible to buy limited amounts of Bitcoin (up to CHF50k per year) without requiring KYC. Relai allows you to do that. Awesome. Unfortunately, Swiss regulators may be decreasing that limit in coming years.
Relai is crucial to Bitcoin adoption in Europe and beyond
In closing, we consider Relai to be an extremely important component of the European Bitcoin ecosystem. They operate from Switzerland, the beacon of light in a storm of terrible regulation, to ensure that everyone in Europe and beyond has a secure, convenient and cost-effective way to buy Bitcoin. Relai will continue to ensure that all people in Europe, and beyond, can access Bitcoin.
This is a huge part of why we invested in Relai. The ego death capital team will do everything we can to support their continued success.