I just received this mail:
Simplify self-custody
Hey ek, we’re excited to announce a new feature that rounds out our suite of automation tools – bitcoin auto-withdrawals!
At Strike, we’ve always empowered self-custody, especially with our free bitcoin withdrawals. Now we’re taking it a step further with auto-withdrawals – a free and effortless way to secure your bitcoin into cold storage.
Total flexibility
You can whitelist as many addresses as you want, specify an exact threshold, and even cancel an auto-withdrawal after it’s queued (but before it’s confirmed). Easily edit, pause, or entirely remove your setting any time.
No fees
The flexible on-chain delivery tier you’ve come to know and love applies to auto-withdrawals too, so you can keep more of your bitcoin.
Ease of automation
Combine auto-withdrawals with DCA and Target Orders to automate your entire bitcoin journey from depositing to buying to custodying.
Ready to get started?
- Go to your Account page from the avatar icon in the upper right
- Scroll down to the “Settings” section and tap “Bitcoin”
- Select “Auto-withdrawal”
- Toggle to enable auto-withdrawals
- Set your desired bitcoin balance threshold
- Add one or more Bitcoin addresses
Your auto-withdrawal will trigger when your available bitcoin balance reaches your threshold, and your entire bitcoin balance will be withdrawn.
I really like this. However, you would have to remain vigilant in regards to remembering to supply more withdrawal addresses as to not auto deposit to the same address more than once. Would be cool if they added a feature to pause and alert users when auto withdraw addresses have been all used up.
I get nervous when my money is automated, especially bitcoin. I'm not saying it won't work, but I prefer a much more hands on approach.
If I'm doing it I can double and triple check the address before clicking send.
https://m.stacker.news/59975
I've not used it but it seems doung better as a self custody app. Thanks @ek. I shall give it a try.
What do you mean with "doing better as a self custody app"? You don’t hold your own keys with Strike. It’s also KYC‘ed.
If I've mentioned something incorrect there. Please take my apologies for my ignorance. Strike.me isn't available in India and I've never had experience.
But because you mentioned
I thought it's a self custody app.
Weird, it says here that Strike should be available in India
I'm sorry. It's my bad I didn't give it a proper look. It's available in India but it's kyced so not for me. After KYC it's almost certain that I need to pay 30% plus on profits in fiat terms here I er all profits from the day I recieve bitcoin.
Strike is where it’s at
With white listing addresses, will they send to a new address each time?
I would think it always tries the next address if available
If available as in hasn't been used before?
Yes and that you didn’t run out of unused yet
Nice.
That is really nice.
Just askin' for a friend.
Who, in their right mind, would allow any organization to auto-withdrawal anything?
I begs the question of those, known as mistake prone, organizations making off with your BTC.
Personally, I would not even consider it.
What’s the difference between entering your address now and withdraw later or enter address during withdrawal?
I was speaking to auto-withdrawls. Giving them permission to take an amount out of your account every interval.
What happens when they take too much out?
What happens if they get hacked?
Then your information is everywhere for everybody.
I was also speaking about auto-withdrawals since the only difference is that you don’t have to press a button to trigger a withdrawal. Your concerns are valid but are unrelated to automated withdrawals. They sound more like concerns over custodians.
It's an excellent application, I've been using it for a long time and I think it's great that they're updating it.
I recently watched a podcast with Jack where he mentioned a new feature: paying bills with Bitcoin. Does anyone know more about this feature?