To buy bitcoin and send your coins directly to an external wallet, such as Electrum, using the Relai app, you need to take the following steps:
- Open your Relai app.
- Type in the amount of bitcoin you want to buy (or auto-invest on a weekly or monthly basis) and click ‘next.’
- Enter your IBAN from which the payment for the bitcoin purchase will come, and add a referral code (if you have one) to save 0.5% fees.
- Toggle the “buy to external wallet” to on.
- Open Electrum, go to ‘Receive,’ and click on the ‘New Address’ button to generate a new wallet address.
- Click on the QR code button, scan the QR code with the Relai app, and click ‘next.’
- Then, go back to your Electrum wallet, access the ‘Tools’ section, and click on the ‘Sign/Verify Message’ button.’
- Next, you need to sign your transaction by copy and pasting the message text provided by Relai into Electrum’s message verification section and then clicking ‘Sign’ in Electrum. (If you are using Electrum with a hardware wallet, you will need to sign the transaction using your hardware wallet device.)
- Then, copy the signature provided by Electrum and paste it into the bar in the Relai app that says “paste your signature here.”
- Click ‘next’ and make the payment using your mobile banking app (but don’t forget to add the transaction reference code to your bank payment).
- Confirm the transaction in the Relai app.
And that’s it! 😁
Your bitcoin will arrive in your Electrum wallet as soon as the bank payment settles.