Strike

Strike is a mobile payments app built on the Bitcoin Lightning Network. Founded by Jack Mallers, it allows users to send money instantly anywhere in the world with virtually no fees. While it uses Bitcoin technology rails, users can send and receive fiat currency (dollars), making it a powerful tool for remittances and peer-to-peer payments.

Strike also allows users to buy Bitcoin with zero trading fees, making it one of the cheapest places to acquire the asset. Users can set up direct deposit to get paid in Bitcoin automatically. It is a legitimate and disruptive financial app that leverages blockchain technology to make money transfers faster and cheaper.

Frequently Asked Questions

1. specific fees to buy Bitcoin?

Strike is famous for charging very low trading fees, often close to 0%, though they do have a small spread. It is widely considered one of the most cost-effective ways to buy Bitcoin in the US.

2. Can I send money internationally?

Yes, the "Send Globally" feature allows you to send US dollars which are converted instantly to local currency (like Euros or Naira) for the recipient. The transfer is nearly instant and costs significantly less than traditional wire transfers.

3. Is my money insured?

US Dollar balances held in Strike are eligible for FDIC pass-through insurance via their banking partners. However, Bitcoin balances held on the app are not FDIC insured, which is standard for the industry.

4. Do I need to understand Bitcoin to use it?

No, you can use Strike purely as a cash app to send dollars to friends. You do not need to interact with Bitcoin directly unless you choose to use the investing or cross-border payment features.

5. Is it available globally?

Strike is available in the United States, Europe, and several other regions, with aggressive expansion plans. You should check the app store to see if it is supported in your specific country.