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0 sats \ 0 replies \ @cointastical 29 Dec 2022 \ on: Strike Sucks . bitcoin
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.