Strike is a digital finance company which offers users the ability to make international, fee-less money transfers via a bitcoin native platform. Users can use their bitcoin to send money to other individuals; pay merchants; and have access to banking services (neobank), all using the Bitcoin Lightning Network for instant, low cost, and secure transactions.
Strike was formed as a bitcoin native payments platform from Zap Solutions, located in Chicago.
Strike's global mobile payment platform made it one of the largest developments in the crypto space. Strike also established a complete compliance structure.
Strike completed its Series B funding round at $80-$90 million led by Ten31 VC, a company focused on investing in bitcoin native companies.
Strike announced the introduction of e-commerce payment solutions to be offered to top merchants globally.
Founder Jack Mallers launched Strike and also founded a $4 billion dollar Bitcoin focused company backed by Tether, Cantor Fitzgerald, and SoftBank, while having ties to Chicago.
Multi-jurisdictional global infrastructure supporting 95+ countries with regional compliance frameworks
Not a primary feature; focus on deterministic blockchain payment processing
Based on product descriptions and public documentation. Detailed technical architecture not publicly disclosed.
| Service | Cost | Details | Source |
|---|---|---|---|
| Account Creation | $0 | No fees to create or maintain Strike account | — |
| Bitcoin Purchases via ACH/Debit | $0 | Fee-free bitcoin buying and selling | — |
| Lightning Network Payments | $0 | Instant global payments at virtually no cost via Bitcoin Lightning | — |
| Pay Me In Bitcoin | $0 | Direct deposit conversion to BTC with no added fees | — |
| Strike API Access | Custom | For merchants and businesses integrating payments | Strike app documentation |
| Credit Card Purchases | Variable | Additional processing fees charged by card issuer | Strike app |
| Feature | Strike | Cash App | Venmo | Coinbase |
|---|---|---|---|---|
| Bitcoin Lightning Payments | Yes | No | No | Partial |
| Global Instant Payments | Yes | Limited | US only | Limited |
| Fee-Free BTC Buying | Yes (ACH/Debit) | No | No | No |
| Direct Deposit to BTC | Yes | No | No | No |
| Merchant API | Yes | Limited | No | Yes |
| Starting Price | $0 | $0 | $0 | $0 |
| Free Tier | Yes | Yes | Yes | Yes (limited) |
| KYC Required | Yes | Yes | Yes | Yes |
| API Access | Yes | Limited | No | Yes |
| 24/7 Support | App support | Yes | Yes | Yes |
Strike is focused on Bitcoin only Lightning Network payments with zero fees for ACH/debit while Cash App is a more comprehensive fiat service with fees for BTC trading. Strike targets Bitcoin maximalist users, Cash App provides P2P services for users in general.
For users who want to make low-cost bitcoin payments, Strike would be the better choice. For casual users of both fiat and bitcoin, cash app may provide the desired functionality.
Venmo provides a US focused social payment service that does not include native Bitcoin support. Strike is a global service with BTC conversion options. While Venmo has a larger user base in the US, Strike has a lead position in terms of crypto innovation.
For users looking to make international payments using bitcoin, strike would likely be the preferred option. For users looking to engage in domestic social payments, venmo may be the more desirable option.
Coinbase is a robust cryptocurrency exchange platform that offers an array of exchange platforms, however there are associated trade fees. Strike is a low-cost option for lightning based payroll and other forms of bitcoin-based transactions. Coinbase also boasts a much larger market presence as well as the ability to access a wider array of cryptocurrencies.
Users looking to make bitcoin payments may want to consider using strike. Users looking to utilize a variety of cryptocurrencies may want to use coinbase.
PayPal was the first major financial institution to offer support for purchasing and selling bitcoin; however it retained the same levels of fees associated with traditional currency exchanges as well as the slow settlement times associated with traditional currency exchanges. As such, Strike utilizes its own version of lightning technology to facilitate instant global bitcoin transfers. While PayPal is still the largest provider of traditional payment options available today, Strike has clearly established itself as the leader when it comes to providing the best user experience in terms of utilizing bitcoin.
Users who are native bitcoiners and looking for a way to make simple and secure payments will find that strike meets their needs. Users looking to utilize bitcoin for e-commerce purposes will likely find paypal to meet their needs.
Using the Bitcoin Lightning Network for fast and low cost global transactions, the user can send fiat or BTC, which will be automatically exchanged at the time of sale for the merchants' preferred local currency and customer pays with BTC.
Low fees on transactions through the use of Lightning Network spreads approximately 0.3 to 1 percent per video review; no monthly subscription fee for basic usage; merchant plans may have tiered pricing; competitive spreads for direct deposits and buying BTC.
Borderless payments utilizing the Bitcoin Lightning network for lower costs; enables global transfers at lower cost and allows for direct bitcoin payroll deposits; better for users who want faster and cheaper options for international transfers.
Security is a focus, however there are no advanced features for withdrawals/whitelisting per reviews; employs common app protection mechanisms; users encouraged to enable biometric authentication; additional layer of instantaneous settlement security through the use of the Lightning Network.
Yes, you can use the Direct Deposit feature on Strike by providing the routing and account number; it will automatically exchange portion of paycheck into bitcoin immediately. Dollar-cost averaging is seamless.
Contact Strike through the in-app support or via email. A self-service Help Center is also available. Response times are not specified; user reviews indicate an easy process, however they did express security concerns.
The Strike app is free to download and utilize for personal transactions; merchant sign-up process likely through the app and does not appear to have any upfront costs noted; test with smaller transaction amounts.
Higher than average spreads and fees compared to some exchanges 3x per reviews. Withdrawal whitelists and two factor authentication 2FA for all transactions are not available and would increase risk of compromise should your device become compromised. Primarily mobile based.
Strike is an easy-to-use, user-friendly application for making global payments using the Bitcoin Lightning Network and for making direct deposits of your Bitcoin paycheck at low cost compared to other forms of traditional remittances. It has some of the best and easiest fiat-to-bitcoin conversions that will appeal to most crypto investors. As web3 merchant payment adoption increases it will be positioned well.
For Bitcoiners looking to simplify both their payments and salary conversion to bitcoin, review security before making large transactions.
Strike utilizes Bitcoin's lightning network to provide fast global payments as well as a unique direct deposit to bitcoin feature. Strike provides competitive fees through the use of spreads, and has strong merchant solutions. In terms of user experience and functionality strike is very easy to use, however based upon user feedback, there are also some major security issues including lack of whitelisting.
Fair - based on app reviews, YouTube demos, and product overviews; lacks direct access to current support/API docs and recent official pages.
Jack Mallers founded Strike, and he was one of the first people to adopt Bitcoin's lightning network, so Strike is designed to make bitcoin a practical form of money for everyday global payments.
Some of the key features of strike include; direct deposit paychecks in bitcoin, instant global transfers, lightning powered merchant checkout. Strike also supports the use of USD balances, in addition to supporting BTC balances.
Strike has been featured in many bitcoin focused podcasts and youtube videos for its innovative paycheck feature, and early adopters of bitcoin have said that strike is the future of payments.
Strike is a service that allows users to transfer funds across borders quickly and easily using the Bitcoin Lightning Network. Users can convert the amount being sent to either fiat currency or Bitcoin.
Acorns is a service that allows users to automatically invest a portion of their paycheck into Bitcoin. There are no fees associated with using this service if the amount being converted to Bitcoin is under $20,000 per month.
PaySend is a service that allows users to send funds across borders to anyone with access to a smartphone. Once the recipient receives the payment, they can choose to receive it in Bitcoin, a local fiat currency or even USDT.
Wirex is a service that allows users to make unlimited free Euro deposits which they can then use to buy Bitcoin in Europe.
Coinbase provides a business-to-business API that merchants can use to embed buy/sell functionality and automate the process of accepting Bitcoin payments.
Coinbase provides free withdrawals to any self-custody wallet that meets the company’s requirements. Merchants can also customize the withdrawal fees depending on their needs.
The service provided by DollarBird allows users to create a customized schedule to automatically invest a fixed amount of money in Bitcoin every hour/day/week/month.
| Merchant Level | Transaction Volume | Compliance Documentation | Validation Method | Scanning Requirements |
|---|---|---|---|---|
| Level 1 | >6 million annually | Report on Compliance (ROC) | QSA audit or executive signature | Annual ROC; no SAQ eligible |
| Level 2 | 1-6 million annually | SAQ or ROC | Self-assessment with optional QSA | Quarterly ASV scan; annual SAQ |
| Level 3 | 20K-1M annually (card-not-present) | SAQ | Self-assessment | Quarterly ASV scan |
| Level 4 | <20K annually (card-not-present) | SAQ | Minimal self-assessment | Quarterly scan if online |
| Business Model | Operational Context | Key Requirements | Recommended Features | Example Merchants |
|---|---|---|---|---|
| Global Remittances | Cross-border money transfers to emerging markets | Instant low-cost international payments | Lightning P2P transfers, local fiat conversion | Migrant workers, family remittances |
| Bitcoin Salary Payments | Employees opting for BTC payroll | Direct deposit splitting to BTC | Pay Me In Bitcoin, fee-free conversions | Crypto-friendly companies, freelancers |
| E-Commerce Merchants | Accepting BTC payments globally | API integration for checkout | Strike API, Lightning invoices | Online stores, digital goods sellers |
| Marketplace Platforms | Multi-vendor BTC settlements | P2P vendor payouts | Global transfers, BTC withdrawal | Gig economy apps, creator platforms |
| Fintech Services | Embedded bitcoin payments | Scalable API access | Business API, unlimited deposits | Wallets, payment processors |
In comparison to traditional methods of settling transactions, the Lightning Network allows users to settle transactions almost immediately.
Unlike many of its competitors, Coinbase does not charge any fees to users for making deposits, converting currencies, or withdrawing funds. Instead, the company takes a percentage of each transaction made using the platform.
The number of countries supported by Coinbase is nearly 100, while many of its competitors are limited to just a few regions.
As mentioned earlier, Coinbase supports native Bitcoin/Lightning functionality, as well as providing fiat on/off ramps for users.
In addition to supporting native Bitcoin/Lightning functionality, Coinbase also provides a business-to-business API that merchants can use to embed buy/sell functionality and automate the process of accepting Bitcoin payments.
The security measures provided by Coinbase include a 1:1 reserve policy, an anti-money laundering (AML) program, and the ability for users to store their cryptocurrency in a self-custody wallet.
In order to meet the demands of large volumes of global trade, Coinbase provides merchants with unlimited deposits.
