Strike Sucks .
55 sats \ 5 comments \ @weatherall 28 Dec 2022 bitcoin
Drawn to Strike via Trader University praise...
Initial glance at reviews on App Store did NOT look promising - some of the most scathing I have seen ...
I decided to try my luck anyhow . Provided these folks more KYC than I have ever been required to . Phone number linked to phone . SSN ! . Front/Back DL photos with matching address . Address . ad nauseum ...
Within 12 hours I was told I was NOT approved and given zero specifics... I pressed for a review and a reason (I have NEVER been denied in 10 years in the space.)
12 hours later got another one telling me I was denied and "can provide no further info"...
What the F is going on with this company @jackmallers?
write
preview
related posts
5 sats \ 1 reply \ @benoni 28 Dec 2022
the only app worse than Strike is Foldapp.
reply
0 sats \ 0 replies \ @weatherall OP 28 Dec 2022
thanks for the heads up -
what i am not getting is that all these players are promoted , one way or another , by the likes of TU and Kevin Rooke ... and many other podcasters that would appear to be even more scrutinizing... yet it's crickets on the criticism... do i smell a market for a highly-informed new asshole-ripper ?
been wanting to mssg TU about this in regard to Strike and his fawning over it on his channel (has he not read the app store reviews !?) but I dont have an account on yt and that appears to be the only way to contact him - I haven't located another route...
reply
0 sats \ 0 replies \ @cointastical 29 Dec 2022
Once you get past the KYC hurdle, Strike is pretty decent.
The fee when buying is negligible ... what, like 0.1% or something like that? Compare that to Cash App's fees for buying bitcoin!!
Strike lets you send from USD to a bitcoin address (or to pay an LN invoice). This way I do not touch bitcoin and thus do not need to track it for capital gains reporting ... like I would be required to do had I bought the bitcoin using any other exchange method.
Not sure what went on with your KYC, mine was not memorable enough that I even remember anything about it.
My only gripe is Strike has some quirks. A couple times I've need to deposit multiple times in a day, and apparently there is a limit of 3 per day. My deposits occur using the debit card method. Maybe Strike limits this hoping people do one large deposit rather than numerous smaller deposit trxs (which incur a small per-trx fee)? I don't know. But this has been an obstruction for me more than once.
Doesn't look like with Strike I can deposit bitcoin either (to sell) ... neither on-chain nor LN. Not a big deal though.
Other than that -- I'm sincerely a fan, and am happy Strike exists even if it does require KYC that for some is janky.
reply
0 sats \ 0 replies \ @Crizzo 29 Dec 2022
I haven't had any major problems. I've felt like Strike has always acted in an ethical manner. When the FTX crash happened and suddenly there was a huge spread on the BTC you bought, they tried to inform everyone of a way to work around it. Later they gave everyone effected by the bad spread some cash back too.
I've been buying BTC from Strike exclusively for over a year now. I love that I can deposit USD, buy BTC, and withdraw it immediately. There are no fees for buying, only a tiny spread of about 0.1-0.3%. Withdrawals are free too, and I can send BTC over lightning if I want.
They probably had a good reason to deny you. They are not obligated to give you any reason, and if they think you are a fraudster or scammer then it's more ethical for them to not tip you off on how you screwed up with your fraud. Sorry you didn't get approved, but you didn't even get to use it, so how can you say it sucks?
reply
0 sats \ 0 replies \ @notgeld 28 Dec 2022
This is so sad.
reply