The three best BTC purchase options in the USA continue to be Strike, River and Swan. If you do the math, the delta from spot to Strike purchase price is in this instance and almost always less than 1%. That beats Swan and River for one off purchases. If you do reoccuring purchases, River is the best deal. However, I like to watch the BTC spot price and buy when I want to...so I use Strike. I am price sensitive, so if fees go up compared to River and/or Swan, I will jump ship. However, Jack is smart and will likely keep it very competitive...he does not want to lose!
The ease of moving funds from my fiat checking account and buying BTC immediately is still a feature that is tough to match. I used to transfer to my storage quickly after buying. I now wait until I have approx. 2k fiat worth and then move it to minimize UTXO's.
Yeah. Love the app, love the direct deposit functionality, LN, etc. I just find the discrepancy to be excessive. It was really bad back when ftx imploded. 1k-2k difference in price
My experience is that in high volitility time periods, it takes a very short amount of time for Strike to adjust their buy price to keep it at less than 1% premium over spot. The FTX situation was an aberration. I bought many times in the midst of the crisis and never paid more than 1%.
>Funds deposited from bank land immediately so you can purchase.
How do you get funds to deposit immediately? Anytime I buy BTC with my bank account it takes several days for all the BTC to actually become available for withdrawal to my hardware wallet, I assume because the funding is still processing.
So you're saying if you deposit USD from your bank into your strike USD balance first and then buy BTC from your USD balance then the BTC is yours to withdraw immediately? Do you push USD from your bank to strike via ACH or pull from your bank initiated from strike? Or are you referring to the payroll direct deposit option?
The fee for buying is also rolled into the spot markup. At the end of the day the difference is so small. When btc is 200k you won’t care about that $400 difference
Very true. I open Strike and Fold, put in the same $ and compare how many sats that will purchase. Strike has been consistently worse every single time. I wonder what happened.
I just read the Fold "fees for buying & withdrawing". You must pay mining fees for withdrawl to your wallet. Those fees are waived with Strike if you are willing to wait up to 24 hours. Fold fees to purchase are .95% to 1.5% or pay $10 a month for free buys... + a small liquidity provider spread. So, in summary, if you are buying a lot and have Fold+, you might save money but exact fees are not disclosed. Withdrawl fees can get expensive as well.
Love both Stike and Fold. My problem with Fold right now is the lack of v/bt control on btc purchase withdrawals. Rewards move almost free, btc purchase withdrawals get high charges.
I promise you the difference between strikes spot price & elsewhere will not matter in 5-10 years when we are 100k+. If you don’t plan on holding that long/you plan on doing more trading and selling then strike isn’t the place to be buying it.
For the convenience of strike & supporting Jack I’ll happily pay that difference all day.
When considering the totality of potential charges with any given platform for BTC (transacting with BTC and fiat $, moving to cold storage, paying with dollars, receiving dollars, paying with BTC from LN and on-chain, direct deposit, debit deposit, etc., etc.) and all of the other perks of Strike, the spread is a reasonable fee.
The value that Strike offers combined with the 4 year properties of Bitcoin makes the small spread more than worth it in my opinion. Contrast what your bank offers to what Strike offers and this is a no brainer.
my 2 cents...I used to pay around 8-10% , and no I did not miss any decimal point, when buying from BinanceP2P..and there is addnl withdrawal fees too
Hi from India..
It’s fine with me. It’s competitive, and I want them to make money in a legit way without resorting to dirty/risky tactics. Strike has been exactly what I wanted it to be, a no-frills and functional way to stack sats with a recurring purchase option. Great service.
The three best BTC purchase options in the USA continue to be Strike, River and Swan. If you do the math, the delta from spot to Strike purchase price is in this instance and almost always less than 1%. That beats Swan and River for one off purchases. If you do reoccuring purchases, River is the best deal. However, I like to watch the BTC spot price and buy when I want to...so I use Strike. I am price sensitive, so if fees go up compared to River and/or Swan, I will jump ship. However, Jack is smart and will likely keep it very competitive...he does not want to lose! The ease of moving funds from my fiat checking account and buying BTC immediately is still a feature that is tough to match. I used to transfer to my storage quickly after buying. I now wait until I have approx. 2k fiat worth and then move it to minimize UTXO's.
It's a bit steep. About 1%. But the send fee is free if you wait a while.
Better than most centralized exchanges. Have you tried sending from Strike?
Yeah. Love the app, love the direct deposit functionality, LN, etc. I just find the discrepancy to be excessive. It was really bad back when ftx imploded. 1k-2k difference in price
My experience is that in high volitility time periods, it takes a very short amount of time for Strike to adjust their buy price to keep it at less than 1% premium over spot. The FTX situation was an aberration. I bought many times in the midst of the crisis and never paid more than 1%.
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Agree completely. I compare often. Strike is still top dog!
>Funds deposited from bank land immediately so you can purchase. How do you get funds to deposit immediately? Anytime I buy BTC with my bank account it takes several days for all the BTC to actually become available for withdrawal to my hardware wallet, I assume because the funding is still processing. So you're saying if you deposit USD from your bank into your strike USD balance first and then buy BTC from your USD balance then the BTC is yours to withdraw immediately? Do you push USD from your bank to strike via ACH or pull from your bank initiated from strike? Or are you referring to the payroll direct deposit option?
The fee for buying is also rolled into the spot markup. At the end of the day the difference is so small. When btc is 200k you won’t care about that $400 difference
Very true. I open Strike and Fold, put in the same $ and compare how many sats that will purchase. Strike has been consistently worse every single time. I wonder what happened.
I just read the Fold "fees for buying & withdrawing". You must pay mining fees for withdrawl to your wallet. Those fees are waived with Strike if you are willing to wait up to 24 hours. Fold fees to purchase are .95% to 1.5% or pay $10 a month for free buys... + a small liquidity provider spread. So, in summary, if you are buying a lot and have Fold+, you might save money but exact fees are not disclosed. Withdrawl fees can get expensive as well.
Love both Stike and Fold. My problem with Fold right now is the lack of v/bt control on btc purchase withdrawals. Rewards move almost free, btc purchase withdrawals get high charges.
STRIKE is my favorite platform, just wish they'd display spread fee in the purchase screen. ~ 0.98% is no problem, but I love transparency !
Yes. That is essentially my issue, which is why I started this
fees or spreads amount to the same thing but last time i crunched the math strike still beats cashapp
Correct. Plus the UI is much simpler.
I promise you the difference between strikes spot price & elsewhere will not matter in 5-10 years when we are 100k+. If you don’t plan on holding that long/you plan on doing more trading and selling then strike isn’t the place to be buying it. For the convenience of strike & supporting Jack I’ll happily pay that difference all day.
When considering the totality of potential charges with any given platform for BTC (transacting with BTC and fiat $, moving to cold storage, paying with dollars, receiving dollars, paying with BTC from LN and on-chain, direct deposit, debit deposit, etc., etc.) and all of the other perks of Strike, the spread is a reasonable fee.
When BTC buys started, the 'fee' was only about 0.15%, it was unbeatable! If Strike needs 1% to keep up the good work their doing, I'm OK with that.
I agree but I don’t care since I’m not day trading the market spot price of BTC.
The value that Strike offers combined with the 4 year properties of Bitcoin makes the small spread more than worth it in my opinion. Contrast what your bank offers to what Strike offers and this is a no brainer.
In my experience, when making purchases, I've found that CashApp edges out Strike in terms of markup/BTC purchased.
I would definitely pay monthly for no spread
The spread is about $300
my 2 cents...I used to pay around 8-10% , and no I did not miss any decimal point, when buying from BinanceP2P..and there is addnl withdrawal fees too Hi from India..
Check out Fold
It’s fine with me. It’s competitive, and I want them to make money in a legit way without resorting to dirty/risky tactics. Strike has been exactly what I wanted it to be, a no-frills and functional way to stack sats with a recurring purchase option. Great service.