What fees and rates apply to cash transactions?
Strike charges a deposit fee for when you make a deposit or buy bitcoin directly from a linked payment method. However, we waive this fee for ACH (bank).
When you send funds with Strike via the Bitcoin network (also known as an on-chain transaction), you have the option to select how quickly your transaction is settled. For the faster delivery times (Priority and Standard), Strike charges an on-chain send fee. Strike does not charge an on-chain send fee for the Flexible delivery time.
The Lightning Network makes transacting with bitcoin faster and cheaper than on-chain transactions. When you send funds with Strike via the Lightning Network, Strike charges an estimated routing fee to cover the Lightning routing fee. Routing fees are paid to Lightning node operators when payments are made through the network. Due to its low fees and fast settlement, sending funds via the Lightning Network is often seen as the preferable way to transact.
Certain transactions within the Strike app involve a conversion between cash and bitcoin, such as buying and selling bitcoin, paying Lightning invoices from your cash balance, or making an on-chain transaction from your cash balance. The conversion rate is based on exchange rates offered by Strike’s third-party service providers at the time the transaction is executed and, for some services, a margin applied by Strike, from which Strike and its service providers earn revenue.
For more information about fees and exchange rates, please see the Terms of Service. Please review all associated fees and rates prior to confirming a payment.