(Last Updated on February 9, 2022)
The easiest, simplest, and cheapest way to make your daily, weekly, or monthly “dollar cost average” Bitcoin purchases.
Transfer funds from your bank account to the Strike app and then pay your hardware wallet QR code directly.
Dollar cost average, stack sats, and HODL multiple cycles for life changing wealth.
What is Strike?
ACH + The Lightning Network = Strike
This is an FDIC insured, U.S. regulated bank account on your smartphone sitting in your pocket that transacts through the Bitcoin blockchain utilizing a layer 2 side-chain protocol called “The Lightning Network”.
-> Can settle in fiat currency or Bitcoin globally.
-> Pay only on-chain transaction fees – No withdrawal or deposit fees, no exchange premiums.
-> Lightning Network creates off-chain group transaction batches that reduce network congestion while increasing speeds and lowering fees.
How to Buy Bitcoin with Strike App?
1. Enter basic user information and connect to bank account or debit card (additional KYC requirements for deposits over $1,000)
2. Deposit fiat currency from your bank account into your Strike mobile banking application
3. You can now receive or make payments to a Bitcoin wallet or another Strike application username
4. To pay with Bitcoin -> Scan a wallet QR code // copy and paste a Bitcoin wallet address // copy and paste a lightning invoice
5. To pay a Strike user -> Click the top right corner “person @” icon and enter username for payment
Step by Step with the Strike App on iPhone OS
Start by downloading the mobile app for your phone (iOS and Android supported)
-> Download the Strike app for your mobile phone
-> Setup the account with basic information and add as you increase deposits
->For an account utilizing over $1,000 you will need to add full name, phone number, address, and social security number
-> Deposit directly from your bank to the Strike app so you can send a payment in Bitcoin
-> Open your Bitcoin wallet – scan the QR code directly with the app or paste your wallets address
-> Use the “paste” function if you have setup a lightning contract for payment
-> Pay and select the amount you wish to send in fiat (will be instantly converted to satoshis at current rate of exchange)
-> Lightning transaction goes through paying only on-chain transaction fees depending on current network rates.
Utilizing the Strike mobile application anyone can easily connect their national bank account, transfer U.S. dollars and/or other fiat currencies to your Strike mobile FDIC insured bank account, then make payments in Bitcoin which can be received in Bitcoin or a fiat currency.
Pay yourself satoshis directly to your cold storage or mobile wallet anytime, from anywhere, while incurring only on-chain fees. Plus, it is a bonus to be operating over the lightning network and helping support one of the best layer solutions to Bitcoin’s transaction speed problems.
No gatekeerpers, no middleman, and no financial intermediaries guarding you from a twenty-four seven, three hundred and sixty-five days a year network. The most powerful, decentralized, instant finality network at the finger tips of your strike account.
Plus a LN Strike account is super fast to setup.
Why use Strike?
Bank account -> ACH -> Bitcoin Lightning Network -> Bitcoin or fiat payment
- Fastest way to purchase and send Bitcoin directly into your wallet.
- Simple and easy to use mobile interface
- FDIC insurance up to $250,000 U.S. dollars
- Deposit fiat currency by ACH through your local bank account in just seconds
- No excessive fees – pay only the Bitcoin on-chain transaction fees at current network prices
- No delay in funding Strike account with most United States banks.
- No KYC for accounts under $1,000
- Utilizes lightning network for faster transactions and lower strain on the network
Strike connects your phone directly to Bitcoin’s Lightning Network
The lightning network creates a parallel side channel to communicate quickly a high volume of smaller blockchain transactions before communicating a simpler, final blockchain transaction over the Bitcoin network. Helping reduce friction and increase speed on the Bitcoin network by doing a majority of the smaller, complex work off the main chain.
It is very fast.
As instant as a debit card or PayPal transaction from your bank account.
Strike will send U.S. Dollars -> Bitcoin -> EURO instantly today.
Or you can choose to receive Bitcoin directly which is how we will be using the app for purchasing BTC directly to our wallets. This can be done to anyone mobile, hardware, online, or offline wallet using the address or a QR code.
The perfect tool for the smart DCA Bitcoin investors.
Dollar Cost Average method – purchasing small amounts of satoshis on a daily or weekly consistency. Helping average out the purchase price of your buys instead of trying to “time the market” and make single, large bets. This has statistically proven to produce large returns when holding a low time preference in Bitcoin.
Compared to an exchange, this is a far better deal as you are basically getting your satoshis free of the standard funding, withdrawal, and trading fees.
Having a low time preference and utilizing dollar cost averaging is the most successful Bitcoin investment strategy for the average person.
The Strike App is perfectly made for this job.
Enabling any individual to purchase any amount of Bitcoin 24 hours a day, 7 days a week, 365 days a year directly to cold storage. Or transfer wealth from one nation to another directly through the lightning network – no barriers, no exchange rates, no insane fees, and instant.
Financial sovereignty at its finest.
If you want to go to higher U.S. dollar limits – than you can enter your social security # and additional information. All of the deposits are FDIC insured up to $250,000 dollars and you can withdrawal at anytime. No charge for moving fiat in or out and all Bitcoin payments will generate on-chain transaction fees at the current price.
-> Setup directly to your bank account or debit card to transfer fiat funds
No additional fees incurred and satoshis directly to your wallet!
You can also do this procedure in reverse to pay yourself fiat for your Bitcoin.. But why would you want to do that?!
Strike partners with Bittrex to go global!
Strike will be opening access to 200+ countries by the end of 2021. This will allow hundreds of different national banks and national currencies to access Bitcoin’s Lightning Network to transfer wealth, make payments, or buy bitcoin.
Here is some updated footage from Jack Mallers on a quick transfer of USD from the United States to a EURO recipient in Ireland almost instantly over the Lightning Network.
Check out this example of Jack sending USD-> BTC -> EURO to a buddy in Ireland.
The future for Jack Mallers and the Strike team is only beginning. This app is empowering humans around the world through computer code – crossing new borders and breaking through financial barriers that have long existed.
200+ countries should have access within 2021 thanks to their partnership with Bittrex Global.
And it is all made possible through the continued development of Bitcoin coded protocols.