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How to pay the least amount of spread/fees on your DCA
684 sats \ 14 comments \ @Jonathan_Adly 24 Feb 2023 bitcoin
  1. Set up direct deposit on Strike with 100% USD. Not your whole check, just whatever portion you normally DCA.
  2. Get a Lightning wallet - ideally, your own node for a fully private experience, but custodian ones would do as well.
  3. Send the USD from strike to your lightning wallet. It will be like a payment, with super low fees and no spread. If you want to get a KYC-lite version, just pretend it's an actual payment to someone else. (i,e - sign up with a different email to the custodian lightening wallet and put in the memo things like "thanks for boating trip")
  4. When you have enough in your lightning wallet to justify the on-chain transaction - send to your cold wallet via Muun, which can accept lightening invoices and send on-chain.
  5. This optimizes spread/fees - to optimize for fully non-KYC, then it has to be BISQ or robosats.
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161 sats \ 0 replies \ @Darkbulb 24 Feb 2023
Robosats is all you need, dawg
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15 sats \ 1 reply \ @arcanox 24 Feb 2023
I wish Americans would realize not everyone has access to Strike (cries in a european language). Also insert shill shill for Relai, a btc only KYC-minimized CEX for the EU.
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0 sats \ 0 replies \ @ursuscamp 24 Feb 2023
Are Americans just not supposed to talk about Strike? Or preface every mention of Strike with “(in applicable locations)”?
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4 sats \ 2 replies \ @022fbc9cef 24 Feb 2023
I'm sad that Strike is not in Europe!
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0 sats \ 1 reply \ @Zepasta 24 Feb 2023
They said it's coming, i want to have it so bad!
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0 sats \ 0 replies \ @badabing 24 Feb 2023
It's kyc. Use Peach or Robosats instead.
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10 sats \ 0 replies \ @bshell 24 Feb 2023
This is actually brilliant. Never considered this...
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10 sats \ 0 replies \ @Wumbo 24 Feb 2023
Always good to have more write ups on going from fiat to BTC.
Also "thanks for boating trip" lol
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1 sat \ 1 reply \ @Zepasta 24 Feb 2023
Waiting for @DarthCoin to trash Muun.. 😅
From what i've heard, Muun has insane fees, maybe https://boltz.exchange/ service might be better/cheaper to swap LN to on-chain?
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0 sats \ 0 replies \ @DarthCoin 24 Feb 2023
No need to trash it. Muun is already a trash. https://darthcoin.substack.com/p/lightning-network-submarine-swaps
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0 sats \ 0 replies \ @ncryppt 24 Feb 2023
Won't work in many many countries sadly. No strike in Canada...
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0 sats \ 0 replies \ @DeltaClimbs 24 Feb 2023
For people who NEVER have more than $1k at any time to buy, maybe makes sense.
This DOES NOT optimize spread. Kraken and SFox are much lower. https://bitcoinmagazine.com/markets/ftx-collapse-cause-huge-bitcoin-price-spike
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0 sats \ 1 reply \ @jerry 24 Feb 2023
Thanks for the tip. My experience to send from lightning to on chain with phoenix has been going quite well with 2000sats of fee at times.
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20 sats \ 0 replies \ @022fbc9cef 24 Feb 2023
You can also send from Breez to on-chain address (it'll do a Boltz swap in the background). Works well.
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