I get the point about KYC, everyone has his/her opinion about that. But high fees?
Discussion
2.5% on relai
On Bittr, there's no KYC and I pay 1.5%
On kraken, KYC but fees are only about 0.25%
It depends on a few things on Relai, you can get your fees lower. But each his own I guess ✌🏻 I might check out Bittr too in the future 🤷🏼♂️ I knew about Relai before I knew about Bittr 😅.
But tell me, if you use bank transfers, isn’t your purchase KYC (light) anyways?
- getting fees lower on Relai: yes it's possible, but that's not the baseline situation.
- I knew Relai a few years back too and recommended it to many newcoiners. I discovered bittr only recently and I'm pretty happy with their service so far. Now I'm recommending ProtonWallet and Bittr, not Relai anymore.
- Sure, Bittr is only KYC-light bc of bank transfers, not fully KYC-free. Not ideal but nevertheless better than full KYC imo. And I'm still not sure why Relai now has to KYC everyone.
We’ve explained everything in this video 🙂