I use Relai for purchasing Bitcoin in Switzerland from my German bank account. I can now immediately swap that Bitcoin (that I don't send into cold storage) into Lightning and send it to my other Lightning wallets.
So, I use Relai like a throughput account.
This adds value, in my opinion, regardless of FOSS. I'm not moving enough money for it to really set me back, if I lose it.
Ok, I understand, you use Relai the way I use [redacted] (obviously can't disclose the name yet) to onramp fiat. But then, it's not so relevant whether it's non-custodial in this case. Of course, one should move the funds out to a more secure/trusted place immediately after onramping.
It just might be confusing and/or misleading to put an equal sign between real non-custodial wallets that have no interaction with fiat/banking (and no reason not to be FOSS) and those who do provide onramp/offramp and thus have to comply with the rules of fiat world.
Relai isn't Phoenix or Zeus or etc. Different wallet, different use case.
Non-custodial does still add value because they can't come under pressure to hand it over to the government, if they don't hold it.
They might not hold it but... Can you export the keys to reuse elsewhere?
Can you prove the keys aren't leaving your device?
Being non-custodial doesn't make much sense without being open-source. Atomic Wallet was non-custodial too, but that didn't prevent the grand theft.
True. Well, pick your poison. 🤷♀️
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