Ok, so Strike is in Europe, in Germany at least. Both in iOS and Playstore although I heard that some people can only download it via direct link from the strike website. Fee is 1.29% and you can reduce it if you buy 1k or more per month. Up to 0.79% with 50k monthly investment. Comparable with current market fees that we already have - Relai, 21Bitcoinapp, Pocketbitcoin and Coinfinity.
Could you please remind me why everybody wanted Strike so badly? It's KYC from the start and fully custodial , so what are the benefits - sleek design? Or that you can send somebody money using username like in PayPal?
31 sats \ 3 replies \ @cointastical 23 Apr
It's the only wallet on my phone that will pay a zero amount LN invoice when depositing to Cash App. Sure, I could install better wallets with better LN support, but Strike solves that issue for me.
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20 sats \ 2 replies \ @Catcher OP 24 Apr
We don't have Cash App in Germany, but what's the point of sending sats from Strike to CashApp, aren't they the same?
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31 sats \ 1 reply \ @cointastical 25 Apr
In the U.S., to interact with a bank, Strike requires KYC with the data harvesting organization PLAID. i.e., you must give Plaid permission to rifle through your bank account history, and to keep doing so further whenever they wish to.
So I only use Cash App with my bank account.
If I need to convert BTC to USD into my bank, Cash App is the quickest, most convenient. Not the least expensive, but for small amounts that's OK.
But when I go to transfer from Stacker.News, for instance, to Cash App, I cannot (Issue #1109).
But Strike can. So I can deposit LN to Strike, then from Strike send to the Cash App LN invoice.
Other differences between Strike and Cash App. With Cash App I have a debit card. I can deposit BTC (via LN even) and have the proceeds immediately available for spending on the debit card.
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10 sats \ 0 replies \ @Catcher OP 26 Apr
Got it, quite specific use case:) would love to see strike debit card though, I think they had the service but discontinued it
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31 sats \ 1 reply \ @cointastical 23 Apr
How about paying directly from the app to a bank account or mobile phone to someone in eight countries in Africa,
)Ghana, Kenya, Nigeria, Rwanda, Benin, Ivory Coast, Senegal, Togo)
as well as Philippines, Guatemala, Mexico, and Vietnam.
Sure, the user doesn't actually send Bitcoin and the recipient gets fiat, but Strike is sending Bitcoin, underneath, cross-border for these remittance payments.
Send $5 and the recipient gets like $4.90-ish (depending on Strike's exchange rate vig) in their currency. Compare that to the cost with traditional remittnce and be shocked.
Best part for me is I don't deposit from my bank (though strike accepts.debit card or direct deposit), I deposit via LN (Lightning Address is usename@Strike.me), convert to USD wallet funds, and then use those funds to send the remittance.
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10 sats \ 0 replies \ @Catcher OP 24 Apr
Ah, ok, got it, that's really a cool feature, thanks!
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10 sats \ 2 replies \ @030b7a9dd1 23 Apr freebie
You can do a 7 cent hourly DCA. Show me another app where this is possible.
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15 sats \ 1 reply \ @cointastical 23 Apr
Show me justification how hourly is better than daily. Hell, show me a reason daily is better than weekly, even.
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20 sats \ 0 replies \ @Catcher OP 24 Apr
Yep, interesting to see the comparison here, I think I saw the post somewhere where after 4 DCA years it doesn't rally make any difference if it's daily vs monthly. But cool feature anyway 😂
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0 sats \ 0 replies \ @Hamstr 23 Apr
they probably paid off a politician to get back into Europe's Grace after realizing US is getting to restrictive.
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0 sats \ 0 replies \ @stacker_d2f6j 23 Apr freebie
I Just can’t tell right now. I downloaded it with really high expectations. Even kyceed myself. Couldn’t figure out yet why this is supposed to be special. Black is certainly beautiful. But else? It’s custodial and not even bolt cards are supported. Send money around the world? I can do that with any other BTC/LN wallet. Custodial or non-custodial.