Strike releases auto-withdrawals \ stacker news ~bitcoin

828 sats \ 18 comments \ @ek 11h bitcoin

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will trigger when your available bitcoin balance reaches your threshold, and your entire bitcoin balance will be withdrawn.

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342 sats \ 0 replies \ @j7hB75 11h

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.

83 sats \ 0 replies \ @0xbitcoiner 11h

97 sats \ 0 replies \ @Aardvark 11h

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.

32 sats \ 0 replies \ @DesertDave 10h

Nice.

27 sats \ 0 replies \ @nym 9h

That is really nice.

46 sats \ 0 replies \ @LowK3y19 10h

Strike is where it’s at

25 sats \ 3 replies \ @OT 8h

With white listing addresses, will they send to a new address each time?

0 sats \ 2 replies \ @ek OP 2h

I would think it always tries the next address if available

33 sats \ 1 reply \ @OT 27m

If available as in hasn't been used before?

0 sats \ 0 replies \ @ek OP 26m

Yes and that you didn’t run out of unused yet

43 sats \ 2 replies \ @Coinsreporter 2h

I've not used it but it seems doung better as a self custody app. Thanks @ek. I shall give it a try.

20 sats \ 1 reply \ @ek OP 24m

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.

0 sats \ 0 replies \ @Coinsreporter 19m

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

Simplify self-custody Hey ek, we’re excited to announce a new feature that rounds out our suite of automation tools – bitcoin auto-withdrawals!

I thought it's a self custody app.

11 sats \ 0 replies \ @Msd0457890 9h

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.

10 sats \ 3 replies \ @Rothbardian_fanatic 8h

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.

10 sats \ 2 replies \ @ek OP 2h

What’s the difference between entering your address now and withdraw later or enter address during withdrawal?

10 sats \ 1 reply \ @Rothbardian_fanatic 1h

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.

0 sats \ 0 replies \ @ek OP 47m

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.