Buy Bitcoin With Strike
Bitcoin payments firm Strike has launched ‘Bitcoin Tab’ a brand new option within its payments app that allows you to buy Bitcoin with no charge outside of the market spread.
Saving buyers commission, Strike is set to become ‘the cheapest and easiest place on earth’ to buy Bitcoin according to Strike CEO Jack Mallers.
Strike will charge no fees for buying Bitcoin, but will pass on the market-spread execution cost charged by its partners, which is expected to be less than 0.3%. However, Mallers expects that to drop below 0.1% over the coming months as volume grows.
The more the volume grows, the less Strike partners will charge, claims Jack Mallers, who says his company is dedicated to ‘driving the price to buy bitcoin on Strike down to as close to zero as we possibly can.’
This is another giant step by Strike, and is significantly lower than traditional cryptocurrency exchanges, such as Coinbase, who charge close to 3% for anyone wanting to buy BTC.
How To Buy Bitcoin On Strike
Strike app isn’t new. It’s a payments application that allows for almost free international payments, by using the Bitcoin and Lightning Networks. However, by launching the Bitcoin Tab, Strike is now set to allow its users to buy Bitcoin.
So, how does it work? It’s actually fool proof, and makes buying Bitcoin much easier than pretty much any other platform.
In the Strike app, there’s a Bitcoin Tab in the navigation menu. Click on it and it will ask you how much you’d like to buy. You enter the amount, confirm the purchase, and that’s it.
It’s believed that there will be a 10 BTC cap per single order, so it is clear that Strike is concentrating on retail rather than institutional buyers.
As with everything done on the Lightning Network, the transaction will be done in a split second, and once the order is complete, a user’s Bitcoin will be immediately sent to their Strike wallet in the app, where users can hodl or withdraw to third-party wallets.
As Jack Mallers says, there are ‘no hidden fees, no sifting through shitcoins, no added noise. The way stacking sats should be.’
This ‘Buy BTC’ through the Bitcoin Tab is only the beginning for Strike, who say users will soon be able to get paid in Bitcoin, earn rewards in Bitcoin, round up savings in Bitcoin and much more.
The Bitcoin Tab is new and there’s a waitlist, and to join it you should sign up here… The more friends you refer the quicker you will gain access to the cheapest option to buy Bitcoin.
A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.