Overview
Strike is built by Jack Mallers with a singular mission: make Bitcoin purchases as cheap and fast as possible using the Lightning Network. It charges zero trading fees on Bitcoin purchases — a genuine differentiator in a market where every other exchange takes a cut. The revenue model relies on FX spreads for international transfers and premium services, not trading commissions.
The app is Lightning-native, meaning your Bitcoin can be sent or received over the Lightning Network for near-instant, near-free transactions. This makes Strike particularly interesting for people who want to use Bitcoin as money, not just hold it. The main limitations are Bitcoin-only, limited state support, and a newer/smaller platform compared to Coinbase or Kraken.
Pros & Cons
Pros
Truly zero trading fees
Lightning Network native
Free ACH bank funding
Clean mobile app
Cons
Bitcoin only
Newer and smaller platform
Limited US state support
How to Buy Bitcoin on Strike
1
Download Strike (iOS or Android) — check state availability first
2
Create an account with email and phone number
3
Verify identity with a government ID
4
Link a bank account via ACH (free) or debit card
5
Tap "Buy Bitcoin" → enter amount → confirm — zero fees
Fee Breakdown
Spot Bitcoin purchases: 0% trading fee. ACH bank transfers: free. Debit card funding: small fee may apply. Lightning Network withdrawals: near-zero. On-chain Bitcoin withdrawals: standard network fee. Strike earns revenue from FX conversion on international features.
Security
Strike is a licensed money transmitter regulated by FinCEN. Bitcoin is held in custody by Strike. For long-term storage, withdraw to your own hardware wallet. Standard 2FA and biometric authentication are available.
Verdict
Strike is the best choice for buyers who are philosophically committed to Bitcoin and want zero-cost accumulation. The Lightning Network integration is best-in-class. The trade-offs — Bitcoin-only, smaller platform, limited state coverage — are real, but for the right user, Strike is transformative. Zero fees compound significantly over time for regular buyers.
Frequently Asked Questions
Is Strike really free to use?
Strike charges zero trading fees on Bitcoin purchases — this is real. They make money from international money transfer FX margins, not from your Bitcoin buys.
Which states is Strike available in?
Strike is available in most US states but not all. Check strike.me for the current state availability list, as it expands regularly.
Does Strike support Lightning Network?
Yes — Strike is Lightning-native. You can send and receive Bitcoin over Lightning instantly and for near-zero cost, which is one of its core advantages.