Beginner guides, explanations, and everything about Bitcoin

Bitcoin is for everyone

Unlike traditional forms of money, bitcoin isn’t backed by physical assets or government policies, instead, it’s backed by a novel system that uses decentralization, incentives, energy, and cryptography.

![](https://www.datocms-assets.com/99305/1734386385-learn-what-is-backing-bitcoin-state-hero.png)

To properly answer “What is backing bitcoin?,” we first need to establish what “backing” means.

In the context of money, “backing” historically meant a currency that was directly linked to a specific quantity of a commodity, like gold. This system, known as the “gold standard,” provided tangible assurances of the currency’s value as it could be exchanged for set quantities of a valuable metal.

In 1971, the US dollar’s gold-backing ended, along with that of all other major currencies. This marked the shift to “fiat” money (from the Latin word for “decree”), where the money’s value relies on government policies and public trust, rather than redeemability for gold. 

Neither gold nor fiat money are backed by redeemability for anything or by any ability to generate cash flows. They are “base-layer” monetary assets, meaning their value relies on their *inherent* properties and the assurances that those properties will persist into the future. People own gold or fiat because they’re useful for storing and/or exchanging value, made possible by their reliable [monetary properties](https://strike.me/learn/what-is-money):
* **Gold:** Gold’s value relies upon its resistance to corrosion, ease of verification, physical weight, measurable purity, and natural scarcity, which are established by the unchanging laws of physics. Additionally, gold’s superior scarcity is safeguarded by the economic barriers of production, since there is no other way to produce gold other than through energy-intensive work.
* **Fiat money:** Fiat’s value relies upon government-mandated acceptance for taxes, debts, and legal transactions, combined with public trust in the issuing authority’s ability to maintain its value. If policies change or the authorities print money excessively, the money’s value could drop and popular trust could be lost (see 1920’s Germany, 1990’s Yugoslavia, 2000’s Zimbabwe, or 2010’s Venezuela).

Base-layer monetary assets are backed by nothing other than themselves and the forces that assure their valuable properties will persist into the future. 

Bitcoin is the same. It’s a base-layer monetary asset, backed by the forces that assure its valuable properties will persist. 

## How is bitcoin backed?
[Bitcoin](https://strike.me/learn/what-is-bitcoin) is a peer-to-peer electronic cash system, letting people acquire, hold, and spend bitcoin in a similar way to traditional forms of money.

Bitcoin has valuable [monetary properties](https://strike.me/learn/what-is-money), including: 
* **Scarcity:** Bitcoin has a fixed supply limit of [21 million bitcoin](https://strike.me/learn/how-many-bitcoin-are-there)
* **Divisibility:** Each bitcoin can be effortlessly subdivided into [100 million satoshis](https://strike.me/learn/what-are-satoshis)
* **Portability:** Bitcoin can be moved digitally and securely transferred from one person to another without a 3rd party intermediary by authorizing the transaction using their unique [private key](https://strike.me/learn/what-are-private-keys-and-public-keys)

These valuable monetary properties are established through a novel system that combines decentralization, incentives, energy, and cryptography. 

Let’s examine.

![](https://www.datocms-assets.com/99305/1704930771-learn-better-ai-agents-state-default.png)

## Decentralization of rule-enforcing nodes
Bitcoin’s monetary properties are defined by its [rules](https://strike.me/learn/how-does-bitcoin-work), which are encoded in Bitcoin’s free and open-source software and run by a global network of independent computers, called “nodes.” The rules determine the operations of the Bitcoin network (uppercase “B”) and the characteristics of the bitcoin asset (lowercase “b”):
* **Network operation rules:** Transaction formatting, node connectivity processes, the block time interval, the mining difficulty adjustment, etc…
* **Asset characteristic rules:** The supply limit, the supply schedule, the divisibility of each bitcoin, the authorization requirements for initiating a transaction, etc…

When you operate a node, it connects to every other node in the network to share valid transaction information. Any transaction that violates the rules is easily detected and automatically rejected by each and every node. Although any node can change their *own* copy of the software, thereby altering *their* version of Bitcoin’s rules, no one can force *other* nodes to adopt those changes. The unchanging nature of the rules is what establishes the reliability of Bitcoin’s monetary properties. 

This network of countless independent nodes forms a globally decentralized system that collectively ensures the integrity of Bitcoin’s rules and operations. Each node operates equally and redundantly, meaning no single node holds unique authority or is critical to the network’s operation. This decentralization ensures that no individual or group can unilaterally change Bitcoin’s rules while safeguarding it from censorship or shutdown.

➔ **Assurance:** The rules that establish Bitcoin’s monetary properties can’t be changed, blocked, or banned by any individual or group.

## Incentives
Although nodes are free to adopt new rules, such as increasing the supply limit, any transactions they process under incompatible rules would conflict with all other nodes’ rules and be instantly rejected. This makes the effort pointless, as their time and resources would be wasted. The same principle applies to [Bitcoin mining:](https://strike.me/learn/what-is-bitcoin-mining) producing a valid block is resource-intensive, and if any transaction within that block violates Bitcoin’s rules, the block will be rejected, the miner’s energy wasted, and no rewards issued.

Nodes and miners are not only incentivized to avoid rule changes, they’re incentivized to strictly enforce established rules. The unchanging nature of Bitcoin’s rules assures its monetary properties are reliable and its operations are stable, giving rise to Bitcoin’s value. Node operators want their own valuable transactions accepted, while miners want to earn valuable bitcoin rewards. This incentive alignment creates a system where:
* **Adopting incompatible rules is costly:** Breaking consensus leads to rejected transactions and wasted resources.
* **Enforcing existing rules is profitable:** Stability in Bitcoin’s rules secures its value, protecting nodes’ transactions and miners’ rewards.

➔ **Assurance:** All network participants are financially incentivized to uphold the existing rules and avoid any rule changes, ensuring the reliability of Bitcoin’s monetary properties and continued operations.

## Energy and computational power (aka “hashpower”)
[Bitcoin mining](https://strike.me/learn/what-is-bitcoin-mining) involves computers performing computational work, called “hashing”, to earn a set reward paid in bitcoin for each block of transactions they add. This is how new bitcoin are issued, new transactions are added, all previous transactions are re-asserted, and the entire network is secured against attack.

The only known way to produce a [valid hash](https://strike.me/learn/what-is-a-hash-function) is by using energy in a computationally-intensive process of trial and error. However, once a valid hash has been found, it’s trivially quick and easy for each node to mathematically verify that it’s correct. This asymmetry between the difficulty of mining and the ease of verification means only miners who have mathematically proven to have expended real world resources can add blocks, while verifying validity remains simple, efficient, and widespread.

A key rule in Bitcoin is the **mining difficulty adjustment**, which ensures blocks are mined roughly every 10 minutes, regardless of the total computational power (hashpower) of all miners. Every 2,016 blocks (roughly 2 weeks), mining difficulty automatically adjusts to maintain this pace, making mining harder if hashpower increases and easier if hashpower decreases. This dynamic scaling keeps block times and the supply schedule consistent, while ensuring mining remains efficient and profitable, incentivizing ongoing participation.

The combination of mining with the difficulty adjustment creates a global, decentralized, scalable, and open competition that ties real-world resources (energy and compute hardware) to the supply and operations of Bitcoin. This system ensures:
* **Predictable supply schedule:** Block intervals and the [supply schedule](https://strike.me/learn/what-is-the-bitcoin-supply-schedule) are maintained by the difficulty adjustment, regardless of the total hashpower deployed by miners. 
* **Transaction processing:** Transactions can’t be blocked by mining bans or miners colluding to produce empty blocks, as mining is an open, global competition where miners can join or relocate freely and empty blocks miss out on [transaction fees](https://strike.me/learn/what-are-bitcoin-fees).
* **Miner incentives:** The difficulty adjustment ensures global mining remains profitable for the most efficient miners by dynamically scaling with network hashpower, keeping revenues above expenses and sustaining or increasing miner participation.
* **Transaction permanence:** Reversing a transaction requires re-mining all subsequent blocks and exceeding the network’s total computational power.

➔ **Assurance:** Bitcoin’s monetary properties and operations are secured by energy, as new bitcoin can only be issued through energy-intensive work, while attacks on its supply consistency and transaction security are deterred by a globally distributed network of incentivized energy resources.

## Cryptography and mathematical principles
Bitcoin relies on cryptographic hash functions and the use of immense numerical spaces to create computational barriers against attacks. [Hash functions](https://strike.me/learn/what-is-a-hash-function), like the industry-standard SHA-256 used in Bitcoin, generate unique outputs from input data. Even the slightest change to the input completely alters the output, and there’s no known way to reverse the process. 

Alongside hash functions, Bitcoin’s use of extremely large numbers ensures the security of private keys, transaction authorization, and mining rewards.
* **Private keys:** Bitcoin [private keys](https://strike.me/learn/what-are-private-keys-and-public-keys/) come from a numerical space with approximately 115 quattuorvigintillion possible combinations (a number with 78 digits). This immense scale ensures it’s computationally impossible for anyone to guess your private key, even with all the computing power on earth.
* **Transaction authorization:** To authorize a transaction, your private key generates a unique [digital signature](https://strike.me/learn/what-is-a-digital-signature/). The strong reliability of hash functions means there is no known method to reverse engineer your private key from the signature or the hash output of a transaction.
* **Bitcoin mining:** To add a block and be rewarded, miners must produce a [valid hash](https://strike.me/learn/what-is-a-hash-function/) that meets the network’s required output and difficulty. There is no known way to produce valid hashes other than completing the energy-intensive proof-of-work. 

➔ **Assurance:** The security of bitcoin ownership and mining operations is assured by industry-standard cryptography and mathematical principles.

## Summary
Bitcoin is a base-layer monetary asset, designed to store and exchange value–a fundamental human need.

Its value relies on its robust monetary properties, which are assured through a novel combination of decentralization, financial incentives, energy resources, and cryptography. 

This assurance isn’t abstract, it’s tangible. Real nodes enforce Bitcoin’s rules globally, real miners use computational resources and energy to secure the network, and industry-standard cryptography underpins its security – the same cryptography that secures global financial and communications networks. The entire system is self-sustaining as *all* participants are aligned through transparent financial incentives to promote Bitcoin’s continuation and defend against attacks.

Dismissing Bitcoin as “unbacked” because it lacks physical presence or government oversight is to miss its revolutionary innovation. Bitcoin is the first successful peer-to-peer electronic cash system – something entirely new – and its innovative design to link real-world resources and established cryptography to let people hold and exchange value is worth your attention.

Decentralization, incentives, energy, and cryptography

What is backing bitcoin?

## Protocols are standardized rules
Bitcoin works as a set of standardized rules. 

In computer terms, standardized rules are known as "protocols", and they enable devices and apps worldwide to communicate with each other. These rules govern how Bitcoin functions as a peer-to-peer electronic cash system. The rules are encoded within the Bitcoin software, so when someone downloads and runs the software on their computer (aka node), they become an enforcer of the rules and an active participant in Bitcoin’s operations. 

![](https://www.datocms-assets.com/99305/1704930859-learn-what-is-a-protocol-state-hero.png)

What this means is that Bitcoin operates as a worldwide network of independent nodes, each running the software containing the standardized rules for adding valid transactions to their own copy of the transaction database (called the blockchain). 

To better understand how this works, it’s helpful to define some terms:
* **The Bitcoin protocol:** The set of standardized rules within the Bitcoin software that determines how Bitcoin works
* **The Bitcoin software:** The software program (aka Bitcoin Core), which can be downloaded and run on computers, thereby making them a node in Bitcoin’s network
* **The Bitcoin network:** The global web of connections between nodes that are running the Bitcoin software, through which transaction information can be shared
* **The bitcoin asset** (lowercase “b”): The amounts that are specified within each transaction
* **The Bitcoin blockchain:** The entire history of all bitcoin transactions, structured as a sequential “chain” of blocks of transactions and which is held and maintained by each node independently 

You can think of it like this: bitcoin is an *asset*, that's transacted through a *network*, which is built on a *protocol*. 

Each node can start or stop running the software (join or leave the network), without any problem since they’re each redundant to the system as a whole. Whenever a node joins or rejoins the network, they simply follow the rules to check the validity of the transactions that took place in their absence.

Alongside the nodes are the Bitcoin miners – the computers that confirm bitcoin transactions by grouping them into blocks and adding them to the blockchain. Miners perform computational work in a lottery-style competition to win the right to add the next block and earn a reward for doing so – a system known as “proof-of-work.” Miners also follow the rules of the Bitcoin protocol, because if they don’t, any block they *attempt* to add risks being rejected as invalid by the nodes, which means their time and efforts will be wasted.

Bitcoin works because nodes and miners follow the same set of rules.

## What are the rules of Bitcoin?
The standardized rules of Bitcoin’s that are encoded within the Bitcoin software define the different aspects of Bitcoin’s operations:

### Supply rules:
* The total possible [supply of bitcoin](https://strike.me/learn/how-many-bitcoin-are-there/) is capped at 21 million. 
* New bitcoin are to be issued with each block, according to a strict [supply schedule](https://strike.me/learn/what-is-the-bitcoin-supply-schedule/) that decreases the issuance amount by half (aka a "[halving](https://strike.me/learn/what-is-the-bitcoin-halving/)") every 210,000 blocks (roughly 4 years) until the 21 million limit is reached.
### Mining rules:
* New blocks are to be created on average every 10 minutes.
* Miners must perform computational work to win the cryptographic “lottery” to add a new block of transactions to the blockchain, thereby confirming that block’s transactions and re-confirming all preceding blocks upon which it is built.
* The difficulty of winning the lottery automatically adjusts every 2,016 blocks (roughly 2 weeks), to maintain the 10 minute block time regardless of the total mining power (aka hashpower) being deployed.
### Transaction rules:
* Transactions require the digital signature that corresponds to the sender’s address, ensuring that only the owner of the bitcoin can send it.
* All transactions must have inputs and outputs to specify the sender, recipient, and amount of bitcoin being sent, except for “coinbase” transactions (the newly issued bitcoin in each block), which lack input details.
* The amount of bitcoin in the inputs must equal the amount in the outputs, less the fee amount to be paid to the miner for the service of confirming the transaction.
* Invalid transactions (e.g., invalid signature, invalid bitcoin amount, or double-spending of the same bitcoin) are to be automatically rejected.
### Consensus rules:
* Nodes accept the longest valid chain with the most cumulative proof-of-work as the correct version of the blockchain (aka the “heaviest chain”) and discard any other version of the blockchain
* To undo a transaction that has been added to the blockchain requires performing a greater amount of proof-of-work than the total accumulated work since the transaction was made, an effort which exponentially increases with time and makes bitcoin transactions effectively unchangeable after a few blocks.
### Scripting language rules:
* Any scripts included in a transaction, which can define bitcoin transaction conditions, must  follow certain rules regarding their size and complexity.
### Connectivity rules:
* Nodes must follow specific rules for how to communicate with each other, such as how data is to be formatted and transmitted.
### Blocksize rules:
* Blocks of transactions have a maximum size of 1 megabyte (with some additional space allowed for other data), which indirectly limits the number of transactions that can be included in a block.

Collectively, these rules define how to form the network, make transactions, and establish the attributes of the bitcoin asset, namely its scarcity and peer-to-peer transactability. When nodes run the software, a network is formed through which bitcoin transactions can be sent.

![](https://www.datocms-assets.com/99305/1702580888-is-bitcoin-money-02.png)

## Incentive-alignment of Bitcoin
As more nodes run the software, the rules become more difficult to change. Changing the rules entails creating a new version of the Bitcoin software and getting nodes to download and run that new version. Unlike mandatory smartphone software updates, the Bitcoin software can’t be forced on nodes, as they’re free to download and run whatever version of software they want. Nodes will only download and run software if it’s in their best interest, and will avoid any software that doesn’t.

Additionally, since any block or transaction that violates the rules is automatically rejected by all other nodes, both miners and nodes are incentivized to avoid adopting incompatible rule changes, lest their time and efforts be wasted. Furthermore, bitcoin’s value as an asset is intrinsically linked to the unchanging nature of the rules, as they establish its scarcity, transactability, and reliability. Since miners are rewarded in bitcoin and nodes process bitcoin transactions that they want added to the blockchain, everybody has a vested interest in maintaining the rules that support the value of bitcoin and the network’s consistent operations.

In this way, Bitcoin benefits from network effects – people run nodes, mine bitcoin, or buy bitcoin because it offers them a way to acquire, transact, and secure an immutable digital asset with desirable and robust attributes. Through their activities, the bitcoin asset is made more robust, immutable, and scarce, further incentivizing others to do the same. It’s a self-reinforcing cycle of network strengthening, rule solidifying, and price appreciation. 

The openness of the Bitcoin protocol stands in contrast to legacy financial systems, which are closed and opaque. There aren’t clear and transparent rules governing the supply of dollars, or who is to receive newly issued dollars and in what quantities and for what reasons. Also, entrepreneurs can’t simply build their own dollar app, capable of holding or transacting dollars independently – that’s a privileged service performed by financial institutions within predetermined limits and jurisdictions. 

What this means is that Bitcoin is structurally different from legacy finance. It’s an open, transparent, and rules-based system, with specific built-in incentives that people can opt-into, rather than being forced into. It’s fair, radically transparent, and therefore opens new possibilities for building products and services, unconstrained by arbitrary rules, privileges, and limits. Those possibilities are set to transform how money can work.

Ultimately, Bitcoin works because well-aligned incentives lead all participants to follow Bitcoin’s rules.

Understanding how standardized rules lead to a global network for transactions

How does Bitcoin work?

## Getting started
The [Strike app](http://strike.me/download) is a fast and easy way to get into Bitcoin. 

Strike is one of the world’s most licensed Bitcoin-focused companies and the Strike app is available in [tons of countries](https://strike.me/faq/where-is-strike-available-wr/) globally. It supports a variety of different payment methods, so you can use your cash to buy bitcoin, starting as little as $0.01.

![](https://www.datocms-assets.com/99305/1704930819-learn-how-to-buy-bitcoin-on-strike-state-hero.png)

Buying bitcoin with Strike is as easy as three steps:
1. Create your free account
2. Connect your cash payment method
3. Buy bitcoin

Let’s get started!

## Create your account
To get started, visit the [App store](https://apps.apple.com/app/apple-store/id1488724463) or [Google Play store](https://play.google.com/store/apps/details?id=zapsolutions.strike) to download the Strike app and complete the signup process. 

Signup is free and can take less than a minute to verify your identity and create your account. Depending on your country, some features such as higher account limits and additional payment methods may only be available after completing the additional verification steps.

Once your signup is complete, you can explore the app and make transactions.

## Connect your cash payment method
Cash payment methods enable you to buy bitcoin, by letting you deposit cash to your Strike account or charge the payment method for your bitcoin purchase. Depending on your country, there are different methods available, such as bank accounts, debit cards, wire transfers, direct deposits, or mobile money accounts. 

To link a payment method, follow these steps:
1. Go to your <UserIcon> Account screen
2. Tap "Payment methods"
3. Tap "Add method"
4. Follow the instructions, which may include retrieving a verification code from your bank account

Wire transfers and direct deposits are available in select countries and can be accessed by going to your Account screen, then tapping on <TransferIcon> Wire transfer or <BankIcon> Direct deposit. Your transfer details will be generated, which can be used to initiate the deposit from either your or your employer’s bank.

![](https://www.datocms-assets.com/99305/1705011631-learn-how-to-buy-bitcoin-support.png)

## Buy bitcoin
With a payment method connected or cash deposited into your account, you can now buy bitcoin.

To buy bitcoin, visit your Bitcoin screen and follow these steps:
1. Tap “Buy”
2. Enter the cash amount to purchase
3. Tap “Next”
4. Confirm the purchase

When the purchase is complete, the bitcoin will be added to your bitcoin balance and you’re done!

You can buy as much bitcoin as you want from your cash balance or up to your payment method’s deposit limit. You can view your limits for adding cash and sending bitcoin by going to your <UserIcon> Account screen and tapping <LimitsIcon> Limits. The cash for your bitcoin purchase needs to settle before you can send your bitcoin, which can take a few business days depending on your bank or method.
	
Strike also lets you buy bitcoin via recurring purchase or target orders:
* **Recurring purchases:** Set up [automatic purchases](https://strike.me/learn/how-to-dollar-cost-average-into-bitcoin/) on an hourly, daily, weekly, or monthly basis to help smooth out price fluctuation. At Strike, recurring purchases incur no trading fees after the first week.
* **Target orders:** Set specific [target prices](https://strike.me/learn/what-is-a-bitcoin-target-order/) to buy or sell bitcoin, and your trade will only execute if your desired price is reached.
	
With bitcoin in your account, you can:
* Make borderless peer-to-peer transactions
* Pay for goods and services with bitcoin
* Send your bitcoin to your own custody
* Sell your bitcoin for cash
* Hold your bitcoin

Let’s go!

It has never been easier to buy bitcoin through Strike

How to buy bitcoin

## Lightning as a payments network
The Lightning Network was proposed in 2015 as a payments network for transacting bitcoin *outside* the Bitcoin blockchain.

Essentially, the Lightning Network is a way to transact bitcoin faster, cheaper, and more privately than on the Bitcoin blockchain. 

![](https://www.datocms-assets.com/99305/1702580934-what-is-the-lightning-network-01.png)

Unlike legacy networks for inter-bank cash transfers or credit and debit card payments, the Lightning Network offers instant settlement, no chargebacks, and uses bitcoin as the underlying asset. 

It helps solve a key obstacle for Bitcoin, mainly the ability to scale to lots of users making lots of payments. Whereas the Bitcoin blockchain is designed first and foremost for security and decentralization, the Lightning Network is designed for speed, cost, and volume of payments. 

Lightning is a new kind of payments network, one that’s borderless, open, low-cost, and instant.

## How does the Lightning Network work?
The Lightning Network is kinda like the Bitcoin Network, in that it’s made up of computers (nodes) all running the Lightning Network software. Unlike Bitcoin, Lightning transactions aren’t publicly broadcast on the blockchain; instead they’re made privately and directly between nodes. 

Also like Bitcoin, the Lightning software is a standardized set of rules (aka protocol) that’s open and free to use for anyone or any company who wants to join.

So how does it work?

It all starts with bitcoin. Every bitcoin on Lightning begins with a transaction on the Bitcoin blockchain. That on-chain transaction is shared between two parties and serves as the reference point to start transacting *outside* the blockchain. 

With that on-chain bitcoin secured, the two nodes can then open a payment “channel” – a peer-to-peer connection through which bitcoin can be transacted. It’s like a direct link between two computers that update their own mini, private bitcoin ledger, with the start of their ledger being that first on-chain transaction. 

In their channel, they can transact as fast and often as they want by simply updating their private record, and when they’re done, they can close the channel by settling the original on-chain transaction. 

It’s like opening a tab at a bar, so that you don’t have to pay the bartender each time you buy a drink. Once you open the tab, you can order lots of drinks and just have the tab updated each time. At the end of the night, you make one single payment to settle up. 

It’s the same with Lightning. One on-chain transaction to start, countless off-chain transactions, and one on-chain transaction to close. 

What’s more, each node can open as many channels with as many nodes as they want, forming a global web of connections. Through this web, nodes can “route” payments to other nodes, even if they’re not directly connected. This means person A can send to person C, via their shared connections with person B. These *indirect* payments open a global network of payment possibilities, since each node can be indirectly connected with every other node in the network.

Lightning is a peer-to-peer payments network that helps scale the Bitcoin blockchain, without making tons of on-chain transactions.

![](https://www.datocms-assets.com/99305/1702580946-what-is-the-lightning-network-03.png)

## Lightning and global money transfers
Lightning helps deliver instant, low-cost, and interoperable payments for the world.

Payments routed via Lightning move at lightspeed. When they arrive, they’re final. Instant plus final is what legacy networks can’t do. Legacy cash payments sit in “pending” status for days, with the risk of failing or reversing, adding to merchants’ costs and headaches. 

On top of that is Lightning’s extreme low cost. Lightning payments are just information sent between computers, which costs little to nothing. When indirect payments are routed, a routing fee is paid to any in-between nodes, and those fees are typically a couple satoshis (a fraction of a penny). Payments themselves can be that small, unlocking new possibilities for micro-payments. Compare that to card payment processors, who take a couple percent per transaction in fees and can’t practically process penny transactions (let alone sub-penny amounts).

What’s more is Lightning’s interoperability. Like Bitcoin, Lightning is an open protocol, which means any person, any company, or any app can join and start making Lightning payments themselves. It’s the opposite of how bank or card networks operate, which are closed and don’t allow people to hold electronic money themselves.

With Lightning, you can make payments across apps, for less than a penny, and the payment will be instantly spendable. 

To really get it, you have to see a Lightning app in action. 

People send payments from Miami to Mumbai, via Manila, Mexico City, and Munich. Each person uses a different app, each transaction is sent for fractions of a penny, each payment is finalized and immediately spendable. No 1-5 business days, no bank holidays, no manual approvals, no opaque fees. Secure global payments that just work. 

And since bitcoin is traded 24/7/365 across all major currencies, you can use cash to buy bitcoin, send via Lightning, and sell back into cash. That’s exactly what the Strike app and Strike API do. 

The Lightning Network is a new standard for payments. 
It’s fair — nobody has privileged access.
It’s global — across the street as across the world.
It’s interoperable — across apps, across companies, across borders.
It’s secure — it all begins and ends with Bitcoin, verifiably secure and scarce.

The global bitcoin payments network that’s instant, private, and low-to-no cost 

What is the Lightning Network?

## Bitcoin ETFs
First of all, what’s an ETF?

ETF stands for Exchange Traded Fund, which is a type of investment product that can be traded on stock exchanges. ETFs hold assets, such as stocks, bonds, or commodities, and then issue shares, which investors can buy to get investment exposure to those underlying assets. 

![](https://www.datocms-assets.com/99305/1705929799-learn-what-is-a-bitcoin-etf-state-hero.png)

The idea is that the shares of the ETF *track* the price of the underlying assets, which means that as the assets go up or down in price, the shares in the ETF go up or down in a similar way. For example, if you buy shares in a Gold ETF, your investment would go up or down alongside the price of gold. It's a way of getting investment exposure to gold, without having to buy physical gold coins yourself. 

For the service of operating the ETF, the company that manages it (aka ETF Provider) charges a fee, typically a percentage of the total value of the fund’s assets.

So what’s a Bitcoin ETF?

A Bitcoin ETF is simply an ETF that holds bitcoin. It holds no other underlying asset – no other crypto, coin, or token… just [bitcoin](https://strike.me/learn/what-is-bitcoin). 

When the price of bitcoin goes up or down, the share price of the Bitcoin ETF goes up or down too. It’s a way to get investment exposure to bitcoin, without actually buying and owning the bitcoin *directly*.

Bitcoin ETFs differ from direct ownership of bitcoin, most notably in that ETFs incur ongoing management fees and don’t let you send, withdraw, and control your bitcoin yourself. The [Strike app](https://strike.me/download) is a way to buy, sell, hold, send, and receive bitcoin, as well as withdraw it to your own custody, without incurring any management fees.

![](https://www.datocms-assets.com/99305/1705598787-engineering_06-blended-bitcoin-fee-estimations-default.png)

## How does a Bitcoin ETF work?
From a high-level perspective, all you really need to know is that you can buy shares of a Bitcoin ETF in a brokerage account, and then as bitcoin’s price goes up or down, so too does your investment. 

Under the hood, the operations of a Bitcoin ETF are a bit more technical and involve creating and redeeming shares. Before digging in, there are a few terms you might need to know:

* **Net Asset Value (NAV):** The value of the ETF’s holdings
* **Authorized Participants (AP’s):** Special designated partners (usually large financial institutions) that can participate in creating or redeeming shares of the ETF
* **Custodian:** The company that actually holds the bitcoin, which could be the ETF Provider itself or a 3rd party company

So how does a Bitcoin ETF work?

1. Bitcoin ETF shares each represent a certain portion of the fund’s underlying bitcoin holdings (for example, 1 bitcoin per 1,000 shares), and are traded on a stock exchange.
2. The share price rises and falls according to supply and demand.
3. When there’s increased demand, the ETF share price rises, leading to a *premium to NAV*, meaning the ETF shares are higher in price than the underlying bitcoin they represent.
4. This premium to NAV acts as a signal to the APs to create new ETF shares, which they do by delivering cash to the ETF Provider who buys bitcoin and deposits it to the fund’s custodian.
5. The NAV of the Bitcoin ETF is updated to reflect the fund’s newly acquired bitcoin and the APs receive newly created ETF shares.
6. The APs can then trade the shares in the open market, thereby collecting and closing any premium to NAV.

The reverse can also occur when there’s a *discount to NAV*, meaning the ETF shares are lower in price than the underlying bitcoin they represent. This leads APs to gather shares and return them to the ETF Provider, *redeeming* them in exchange for the cash value of the bitcoin they represent. The ETF Provider delivers the cash to the APs by selling the underlying bitcoin.

This whole system is designed so that the ETF tracks the market price of bitcoin. Whenever there’s a premium or discount to NAV, either due to trading of ETF shares or price fluctuations of the underlying bitcoin, the APs are able to bring the share price back in line with the value of the bitcoin they represent. This system also provides liquidity, as the APs are able to participate in trading of shares, even when regular investors may be reluctant or illiquid.

The above scenario describes cash-create type ETFs, where the APs create or redeem shares by exchanging cash with the ETF Provider, rather than bitcoin. Different Bitcoin ETFs around the world may operate with different creation/redemption processes, bitcoin-per-share ratios, management fee amounts or schedules, or settlement times for when the bitcoin or cash need to be exchanged. You can read about each ETF’s details on their website.

Overall, APs and ETF Providers work to keep deviations from NAV to a minimum, so that the share price tracks the price movements of bitcoin. A 5% move in bitcoin’s market price should result in a corresponding 5% price move in the Bitcoin ETF share price. 

![](https://www.datocms-assets.com/99305/1705011631-learn-how-to-buy-bitcoin-support.png)

## Should you buy into a Bitcoin ETF?
If you’re getting into bitcoin, the question arises: should you buy shares of a Bitcoin ETF or buy bitcoin directly?

Ultimately, it’s up to you. 

For some, the convenience and familiarity of buying within their brokerage account is a big plus. For others, they might be swayed by “unit bias” – feeling better about owning *whole* shares of an ETF rather than owning *fractions* of a bitcoin, despite the fact that shares themselves represent a fraction of a bitcoin. 

Before deciding what’s best for you, there are some factors to consider:

### Management fees:
Bitcoin ETFs incur management fees, typically as a percentage of the total value of the fund’s holdings, while direct ownership has no ongoing management fees. From a long-term perspective, fees add up and are compounding, which steadily erodes the value of your holdings.

### Control of funds:
Owning bitcoin directly gives you the freedom to move your assets where, when, and how you want, while ETF shares can only be held via a brokerage service and have limited or no ability to be transferred to an alternate brokerage or custodian.

### Trading access:
Bitcoin ETFs can only be traded during market hours on business days, whereas owning bitcoin directly affords you the ability to buy and sell, any time, any day. During periods of high volatility, ETF-holders have to wait until markets open to be able to trade, while direct bitcoin-holders are free to trade and transfer when they please.

### Counterparty risk:
Bitcoin ETFs require trust in certain 3rd parties: the ETF Provider and custodian must securely manage the bitcoin, the Authorized Participants must ensure liquidity and limit deviations from NAV, and your brokerage service must provide reliable trading and access to your holdings. With direct ownership, you can decide where your bitcoin is held and by who, including self-custodying where you are the holder and sole authority over your assets.

### Future opportunities:
As the Bitcoin ecosystem grows, new use cases may arise for bitcoin holders, including using bitcoin to collect routing fees within the [Lightning Network](https://strike.me/learn/what-is-the-lightning-network) or posting bitcoin as collateral into escrow accounts to borrow against. Although these use cases are nascent and come with their own set of risks and complexities, they’re simply unavailable if your holdings are locked inside an ETF.

When considering whether to buy shares of an ETF, it’s important to consider the tradeoffs compared to buying bitcoin directly. 

The [Strike app](https://strike.me/download) offers a way to get into Bitcoin that’s simple and secure. You can sign up and buy bitcoin in minutes using regular cash payment methods, with little as $0.01 or as much as you want. Strike Private (private@strike.me) also provides OTC-desk bitcoin buying and selling for large orders from individuals, businesses, or institutions. 

With Strike, you control how you trade, hold, transact, or withdraw your bitcoin – and never pay any ongoing “management fee”. 

*Please note: this content is for educational purposes only. Strike does not provide financial advice.*

Bitcoin Exchange Traded Funds – what they are and how they work

What is a Bitcoin ETF?

Taking self-custody of your bitcoin is a process involving setting up a self-custodial wallet then sending your bitcoin to one of your addresses.

![](https://www.datocms-assets.com/99305/1704930777-learn-better-ai-agents-state-hero.png)

[Private keys](https://strike.me/learn/what-are-private-keys-and-public-keys) are central to bitcoin ownership.

Every bitcoin transaction must be authorized using the correct private key, meaning if you exclusively hold the private key, then you alone can spend the bitcoin associated with that key. The control of private keys– their creation, security, and management – is how you own bitcoin without relying on any 3rd party.

Custodial wallets, like [Strike](https://strike.me/download), handle private keys on behalf of their users. The process of taking [self-custody](https://strike.me/learn/what-is-self-custody) of your bitcoin involves setting up a new self-custodial wallet, then sending your bitcoin to an address created from that wallet. 

There are two basic types of self-custodial wallets:
* **Hardware wallet:** A physical device, usually with a screen, that runs its own wallet app to generate a [seed phrase](https://strike.me/learn/what-is-a-seed-phrase) and manage private keys directly on the device.
* **Software wallet:** A mobile or desktop app that you download, which generates a seed phrase and manages private keys within the app.

One of the major threats to your private keys is malicious or faulty software. If bad software infiltrates your wallet app, it could compromise your bitcoin. For this reason, it’s crucial to be cautious about your wallet’s connection to the Internet. 

Wallets can be further categorized based on their Internet connection:
* **Hot wallet:** A wallet that’s connected to the Internet
* **Cold wallet:** A wallet that’s disconnected from the Internet
* **Air-gapped wallet:** A wallet that is never connected to the Internet, and which passes transaction information via physical SD card or some other means.

## When should I take self-custody
Many people start their Bitcoin journey using a custodial app, like Strike, since it offers convenience, simplicity, and security. However, as you gain a deeper understanding of Bitcoin or allocate an increasingly significant portion of your wealth into it, self-custody should become an essential part of your financial plan.

Before proceeding with self-custody of your bitcoin, it’s best to understand key concepts:
* **Private and public keys:** Learn how bitcoin transactions are created and authorized via [private and public keys](https://strike.me/learn/what-are-private-keys-and-public-keys).
* **Seed phrases:** Understand how your private keys are generated from a [seed phrase](https://strike.me/learn/what-is-a-seed-phrase) and how to recover them in case your wallet is lost, damaged, or destroyed.
* **Private key security best practices:** Know the best practices to [properly safeguard](https://strike.me/learn/how-do-i-protect-my-private-keys) your private keys and seed phrase to prevent loss or theft.
* **Mult-signature setups:** Especially for large amounts of bitcoin, consider multi-signature (multi-sig) wallets that require multiple, geographically distributed private keys to authorize transactions.
* **Cold vs. hot vs. air gapped wallets:** Understand the differences between cold wallets (offline storage), hot wallets (online storage) and air-gapped wallets (never-connected storage), and how to use each safely.
* **The UTXO system:** Learn how [UTXOs](https://strike.me/learn/what-is-a-utxo) (Unspent Transaction Outputs) work to avoid issues that could make your bitcoin uneconomical or unspendable and protect your privacy.

Once you have a strong grasp of these concepts, research and choose the right self-custodial wallet that suits your needs. Many people opt for a hardware wallet, which can cost around $100 or more. Whether you choose a hardware or software wallet, be prepared to stay updated on the latest software or firmware to protect against security vulnerabilities.

Online tutorials, videos, and step-by-step walkthroughs are great resources for researching wallets and how to use them.

## How to take self custody
Here’s how to take self-custody of your bitcoin using a hardware wallet:

1. **Buy a hardware wallet:** Research and choose a reputable hardware wallet and follow the setup instructions provided in the package. For security reasons, it’s best to purchase the wallet from the manufacturer, rather than from a reseller.
2. **Set up your wallet:** Turn on the device, follow the on-screen instructions to begin creating your new wallet.
3. **Record your seed phrase:** As part of the setup process you’ll be prompted to write down a 12, 18, or 24-word [seed phrase](https://strike.me/learn/what-is-a-seed-phrase), which can be used to recover your wallet if it’s lost or damaged. It’s vital to record the words accurately and in the correct order, and to follow [best practices](https://strike.me/learn/how-do-i-protect-my-private-keys) when storing them for safekeeping.
4. **Generate a Bitcoin address:** Initiate a “receive” transaction in your wallet to generate a new Bitcoin address.
5. **Copy and paste the address:** Copy the address and paste it into the service you’re using to send bitcoin (like [Strike](https://strike.me/faq/how-do-i-send-bitcoin/)). This can be done either by having your wallet generate a QR-code, or by sharing the address to yourself, preferably using a secure and encrypted message app. Double check that the address’s characters are correct.
6. **Set your fee and amount:** Choose a transaction fee and enter the amount of bitcoin you want to send, making sure it aligns with [UTXO best practices](https://strike.me/learn/what-is-a-utxo).
7. **Send a test transaction:** As an optional step, you can send a small “test” transaction to your Bitcoin address to be absolutely sure that the address is correct. 
8. **Initiate the transaction:** After reviewing all details, initiate the transaction to your address.
9. **View the transaction on the blockchain:** Once your transaction has been initiated, it will typically appear as a pending transaction. As a final step, you can monitor your transaction’s progress on a [blockchain explorer](https://mempool.space) by searching for your Bitcoin address.

Once your transaction has six confirmations (~60 minutes), it is generally considered complete. 

At this point, you exclusively own the bitcoin because you control the wallet with your private keys, and you have securely stored your seed phrase.

Sending your bitcoin to an address where you control the private keys

How do I take self-custody of my bitcoin?

## Cash –> Bitcoin –> Cash
Send Globally is a feature in the Strike app that lets you send cash through the [Bitcoin Lightning Network](https://strike.me/learn/what-is-the-lightning-network) and have it delivered as local currency to bank or mobile money accounts. It’s a way of sending money globally or locally that can cut out unnecessary middlemen, achieve lower costs, and deliver at faster speeds.

It’s cash, sent through Bitcoin, delivered as local currency.

![](https://www.datocms-assets.com/99305/1702407736-learn-what-is-send-globally-state-title.png)

To understand how it works, let’s take a look at Bitcoin.

[Bitcoin](https://strike.me/learn/what-is-bitcoin) is a digital asset that trades 24/7/365, uninterrupted. People worldwide buy and sell bitcoin across all major currencies. This means you can buy bitcoin with your local currency, send the bitcoin to someone else, who can then sell that bitcoin for a different currency. Cash to bitcoin to cash.

On top of Bitcoin is the Lightning Network, a second-layer scaling solution that lets people securely send real bitcoin faster and cheaper. With Lightning, people can now send and receive bitcoin, anywhere in the world at lightspeed, for low-to-no cost. 

With Bitcoin and Lightning, all you need are cash on/off ramps to make global cash transfers… which is where Strike comes in.

The [Strike app](https://strike.me/download) has full functionality for Bitcoin, Lightning, and cash. Strike has also built a global network of partnerships with bitcoin-powered companies. These global partners can receive bitcoin, convert it to their local currency, and deposit it directly to bank or mobile money accounts. 

So, how does it work?

With cash in your Strike account, you add your recipient’s bank or mobile account details, enter an amount to send, and hit “Confirm”. Immediately, your cash is converted to bitcoin, bitcoin is sent via Lightning to the global partner, the global partner sells the bitcoin for local currency, and the local currency is deposited into your recipient’s account.

The entire operation is automated, and can be done in seconds. Neither you, nor your recipient, ever owns bitcoin. It’s a cash to foreign currency transaction, made possible through Bitcoin.

![](https://www.datocms-assets.com/99305/1702580906-using-bitcoin-to-send-money-abroad-02.png)

## Bitcoin as public payments infrastructure
This is a new approach to using Bitcoin. 

It’s using Bitcoin, not as an asset, but as a network to transfer value. It’s Bitcoin as public payments infrastructure for the world – an alternative to traditional money transfers.

In traditional finance, sending money internationally to friends and family (aka remittances) is slow and expensive. The average cost to remit money globally is roughly [6.20%](https://remittanceprices.worldbank.org/sites/default/files/rpw_main_report_and_annex_q223.pdf) — as in you send $100 and $6.20 is lost to fees, exchange rates, and/or middlemen. 

There’s also delays. The money can take hours, days, or even weeks to arrive and be spendable. You’re also limited if you’re trying to send really small or really large amounts. It all depends on the country, currency, or companies involved.

But why is that?

Put simply, international banking processes.

To transfer local cash in a local bank to foreign cash in a foreign bank involves payment batching, net clearance schedules, chargeback risks, business hours, bank holidays, and of course fees for all middlemen involved. If the countries or currency-pairs are small or uncommon, then the rates, delivery times, and limitations are going to be worse. 

It’s an inefficient system, not designed for speed and savings.

![](https://www.datocms-assets.com/99305/1702580912-using-bitcoin-to-send-money-abroad-03.png)


## Lightning delivers real savings and real value
Send Globally is for saving time and money.

By using Bitcoin as the network to send value, Strike can deliver even better cross-currency exchange rates. That’s because the transfer is able to bypass a lot of the processes and middlemen that drive up costs. And since the money is sent through Lightning, it can arrive much faster than traditional money transfers.

Strike has already launched in a [number of countries](https://strike.me/faq/which-countries-are-available-for-send-globally/) (with more to come), each with super low minimums. All you need is your recipient’s bank or mobile account details, and then you can send to them in their local currency, typically in seconds. 

It’s as easy as texting.

You can also use it for travel. Airport money changers charge crazy high fees and bad rates, so why not use the cash in your Strike app while traveling abroad? On your next trip to the Philippines, just use your cash to pay people in pesos, by Sending Globally right to their mobile money account.

If your recipient doesn’t live in one of the supported countries, that’s okay. The Strike app is available in [countries worldwide](https://strike.me/faq/where-is-strike-available-wr), so you can send them cash or bitcoin instantly to their Strike account. Or they can use any other Lightning-enabled wallet app to receive payments. Bitcoin is interoperable, and is traded across all major currencies. It just works.

You can use Send Globally the Strike app today, or check out this [step-by-step walkthrough](https://strike.me/learn/how-to-use-send-globally) to learn more.

Happy sending.


Bitcoin's Lightning Network makes global money transfers faster and cheaper

Using Bitcoin to send money abroad

UTXO stands for Unspent Transaction Output, and is the technical term for a discrete portion of bitcoin. Put simply, your UTXOs are your bitcoin that you’ve received, but not yet spent.

![](https://www.datocms-assets.com/99305/1721348184-learn-what-is-a-utxo-state-hero.png)

Amounts of bitcoin exist as records of transactions on the Bitcoin [blockchain](/learn/what-is-a-blockchain). Owning bitcoin means that there’s a transaction on the blockchain to an address for which you control the private keys. That record of an amount of bitcoin is called a UTXO.

The way Bitcoin works is that transactions have inputs and outputs. When a transaction is made, the sender specifies one or more inputs and one or more outputs, which can be of any amount, ranging from fractions of a bitcoin to multiple whole bitcoin:
* **Input(s):** An input in a bitcoin transaction references a previous unspent transaction output (UTXO) and is used to fund the new transaction. It includes the previous transaction’s ID, the specific output being spent, and a signature to prove ownership.
* **Output(s):** An output in a bitcoin transaction specifies the recipient of the bitcoin and the amount to be transferred, which can be an address controlled by the sender.

When a UTXO is spent as an input, it’s destroyed, and one or more UTXOs are created as the output. The one exception to this input-output system is the first transaction in each block, called the “coinbase.” The coinbase transaction has no input since it is newly issued bitcoin entering circulation as a reward to the miner, according to the strict [supply schedule](/learn/what-is-the-bitcoin-supply-schedule).

You can look at any given block on the [blockchain](https://mempool.space) for yourself and find the assorted transactions, each with one or more inputs and outputs, alongside the inputless coinbase. The network of nodes running Bitcoin’s software maintains a record of all UTXOs, known as the “UTXO set,” which represents all valid coins in the system. 

## Comparison with the account model
This UTXO model is different from the “Account model” used by banks. In the Account model, balances are tracked as single figures that are adjusted with each transaction, while the UTXO model treats each transaction output as a discrete, spendable unit.
* **Account model:** Balances are updated by debiting and crediting accounts, similar to how banks manage cash balances. When you deposit or withdraw any amount, your balance will adjust accordingly.
* **UTXO model:** Each transaction output is like a separate piece of physical cash (paper notes and metal coins). When you make a payment, you must select specific notes or coins to use. As part of the transaction, you might receive change in return, which are new notes or coins in your wallet.

A key difference to this physical cash analogy is that the recipient of a bitcoin payment receives it as a unified UTXO, not as an assortment that matches the inputs. Overall, what this means is that your bitcoin holdings are simply a collection of outputs from previous transactions that you haven’t yet spent, hence “Unspent Transaction Outputs” or UTXOs.

## Understanding UTXOs and fees
When you make a transaction on the Bitcoin blockchain, you need to pay a [transaction fee](/learn/what-are-bitcoin-fees) (aka on-chain fee) to get it added to a block and be “confirmed.” Transaction fees are paid to the [miner](/learn/what-is-bitcoin-mining) who adds the block and offers an incentive to get transactions confirmed sooner.

In any given transaction, the fee amount is simply the difference in amounts between the inputs and outputs. If the total amount of the inputs is 1 bitcoin, and the total amount of the outputs is 0.99 bitcoin, then the fee payable to the miner is 0.01 bitcoin.

Bitcoin blocks have a limited amount of space and are only added on average every 10 minutes. This ensures the entire blockchain remains small enough to be downloaded and verified on an average laptop computer, helping Bitcoin stay decentralized by keeping participation open to all. Fees are therefore based on the *amount of data* a transaction requires, rather than its *financial value*. Transactions that occupy more bytes of data, such as those with many inputs and outputs, pay more in fees, since they’re using more of the scarce resource of block space. 

![](https://www.datocms-assets.com/99305/1702407727-learn-how-to-buy-bitcoin-state-title.png)

## Fees and UTXO sizes
Fees are measured in [satoshis](/learn/what-are-satoshis/) per virtual byte (aka “sats/vbyte”). Since the market for fees is free and open, anyone can include any amount of fee for their transaction, and miners can select which transactions to include in a block. Fees can be competitively bid up, especially during periods of high network traffic. Higher fees means it’s more expensive to have your transaction added to the blockchain, even for transactions with a single input and output, since each input and output incur a cost based on the bytes of data they require.

This becomes a problem for low-value UTXOs. 

When fees are high, using a low-value UTXO as an input can become uneconomical, since the fee cost to include that UTXO could be a significant percentage of its value – as in you might end up spending half of the UTXO’s value just on fees. What’s more, if the cost of including a specific UTXO as an input surpasses its value, it effectively becomes unspendable. Such low-value UTXOs, which cost more in fees to spend than they’re worth, are often referred to as “dust” – they’re lost.

For example, a [single input](https://bitcoinops.org/en/tools/calc-size/) could require between 57.5 vbytes for a Taproot transaction to 148 vbytes for standard P2PKH transaction (or more for complex transactions like multi-sig), so if fee rates were to reach [200 sats/vbyte](https://mempool.space/graphs/mining/block-fee-rates#1y), the following UTXO sizes or smaller would become unspendable, depending on the transaction type:
* 57.5 vbytes * 200 sats/vbyte = 11,500 satoshis UTXO 
* 148 vbytes * 200 sats/vbyte = 29,600 satoshis UTXO

What this means is that as fees rise, smaller UTXOs can become uneconomical or even unspendable. UTXOs worth thouands, tens of thouands, or even low hundreds of thouands of sats might cost a third, half, or even their entire value in fees to add to the blockchain. In the long term, fees are expected to rise with increased Bitcoin adoption, as more individuals, businesses, apps, and even governments begin to transact on-chain. When self-custodying your bitcoin, you need to plan accordingly to manage your UTXOs effectively.

## How to manage your UTXOs
Using an app like [Strike](https://strike.me/download) to custody your bitcoin is a way to delegate UTXO management, including the selection of inputs and the setting of fee rates to process your transactions economically. With Strike, you can buy as little as $0.01 of bitcoin either as a one-time purchase or through dollar cost averaging (DCA) via recurring purchase, without affecting UTXOs, since the purchases aren't recorded on the blockchain. However, when you make an on-chain transaction, like sending bitcoin to your own custody, you'll need to manage your UTXOs, as your bitcoin purchases on Strike will be combined into a single UTXO sent to your chosen Bitcoin address.

When you’re ready to take self-custody of your bitcoin, managing your UTXOs becomes crucial and requires that you consider a number of factors, suchas fee rates, privacy, and the economic viability of your future transactions. 

Below are some UTXO management best practices to follow: 
* **Not too small:** Keep your UTXO’s at least around 1 million satoshis (0.01 bitcoin), to ensure they remain economically viable, even as fees rise. UTXOs as low as 10,000’s or even 100,000’s satoshis may become uneconomical or unspendable in high-fee environments.
* **Not too big:** Avoid having all your bitcoin in a single large UTXO. Using a large UTXO as an input in a future transaction can reveal your holdings to your recipient, as they can see which UTXO was used as an input and where the change was sent, potentially affecting your privacy.
* **Diversify your UTXO sizes:** If possible, maintain a mix of UTXO sizes, to give yourself options when selecting appropriately sized inputs for future transactions. 
* **Segregate UTXOs:** Keep UTXOs from different sources separate, including any non-kyc sources, to maintain privacy and prevent traceability by transaction recipients.
* **Time your sends:** Monitor [fee rates](https://mempool.space/graphs/mining/block-fee-rates#1y) and aim to send transactions when fees are relatively low, but avoid waiting too long as your desired fee rate may not materialize.
* **Avoid reusing addresses:** To promote privacy and avoid traceability by your recipients, use a new Bitcoin address each time you transact on-chain.
* **Consolidate when fees are low:** Use periods of low fees to combine smaller UTXOs as inputs into larger outputs to ensure future economic viability.
* **Be wary of fee spikes:** Sudden increases in fees may be temporary and could subside within hours or days. For non-urgent transactions, waiting might be wise, though long-term fees are expected to rise with increased Bitcoin adoption.
* **Use Lightning:** For small transactions, use the [Lightning Network](/learn/what-is-the-lightning-network). Lightning enables real bitcoin transactions, without recording each one on the blockchain, avoiding on-chain fees and wait times. Transactions on Lightning are instant and low-to-no cost, allowing you to send even single satoshis to friends or your own Lightning wallet.

For a more in-depth explanation of UTXO management and best practices, read [this article](https://strike.me/learn/how-to-manage-utxos/).

By carefully managing your UTXOs, you can optimize your transaction costs, maintain privacy, and ensure you’re able to spend your bitcoin in the future the way you want, regardless of future fee market conditions. 

Unspent transaction outputs are discrete portions of bitcoin

What is a UTXO?

Make your move into bitcoin.

Learn

## The problem with social
Social media can be better.

The problems that plague social experiences online are common to all social apps. It’s the same challenges over and over:
* Eliminating bots, spammers, and bad actors
* Promoting authentic engagement
* Retaining and rewarding community leaders
* Onboarding users, friction-free
* Scaling to self-sufficiency, and profitability

Bitcoin and Lightning offer ways to tackle these problems by adding transactions to the social experience. The [Lightning Network](https://strike.me/what-is-the-Lightning-Network) offers scalable micro-payments that are instantly settled and require no KYC (know your customer).

![](https://www.datocms-assets.com/99305/1702580843-get-social-with-bitcoin-lightning-01.png)

## Verify via orange tick
How do you separate authentic users from bad actors, bots, and spammers? 
– Signup or subscription fees? Added KYC? More trust and safety mods?

An alternate path is to verify authenticity with an “orange tick” – a social *mark* demonstrating skin in the game. How it works is a user deposits a small amount of bitcoin via Lightning to the social platform, and in return their account profile showcases an orange <CheckIcon>. It’s a way of asserting authenticity and commitment, without having to disclose personal information. This minimal bitcoin collateral requirement can price-out bots or spammers, while also disincentivizing bad actors who risk forfeiting their funds if they break site rules. 

There are unique benefits of using bitcoin via Lightning as the method to transact:
* Users can remain anonymous (avoid entering their name or credit card info)
* Amounts can range from less than $0.01 to $1,000+
* Funds settle immediately, without chargeback risk
* Fees on Lightning can be much cheaper than credit or debit card processors
* Refunds can be sent just as easily as deposits
* Bitcoin is global and scalable

Orange ticks can also allow users to sort and filter their social experience according to orange tick status. It lets them see or prioritize only users who have demonstrated a basic level of authenticity.

![](https://www.datocms-assets.com/99305/1702580849-get-social-with-bitcoin-lightning-02.png)
	
## Value for value
Bitcoin can help promote authentic social engagement by adding transactions as a native part of the social experience. 

Bitcoin and Lightning create a new product-space, where global micro-transactions are now a financially viable way for users and platforms to transact real value, and have it settled instantly.

* **Zaps:** “Likes” and “hearts” are trivial ways to engage with social posts (and can be abused by bots and spammers). Instead of “likes”, why not “zaps” – Lightning micro-payments as a way of rewarding valuable content. Zaps are instantly settled and can be made in increments of 1 satoshi (a fraction of a penny). This kind of engagement offers an extra dimension of meaning, expressing what users find truly valuable, while pricing-out bad actors.

* **Enhanced streaming:** Scalable micro-transactions can enrich audience participation, particularly for audio/video streaming. Community leaders can charge for audience participation, set pay-by-the-second viewing/listening, revenue-split between co-hosts, sponsor chat rooms, or paywall their direct messages.

* **Commercial activity:** Social apps can embed native, global payments directly in-app for users to buy and sell subscriptions, access tiered premium content, or even shop real life goods and services.

* **Content creator pay-outs:** Attracting and retaining content creators or community leaders is key for growth. Lightning payments offer a way to deploy revenue sharing-models and reward the most creative and productive community members. Bitcoin is also the easiest way to pay creators globally, offering borderless, scalable, instant payouts that are readily convertible to any major global currency, 24/7.

The advent of global, scalable, instant, micro-payments offers new design space for making social media better. Bitcoin and Lightning changes everything. 
	
Transactions are the new interactions.

Exploring what Bitcoin & Lightning can do for social media

Get social with Bitcoin & Lightning

## Content monetization that works
Monetizing content is hard.

No one wants to input their name, address, and credit card number to pay to read an article or watch a video. People click away because of friction. They don’t want to pay that much, or add that info, or fill out that form. They want the content, with as little friction and the best price possible.

Bitcoin and Lightning offer the alternative.

![](https://www.datocms-assets.com/99305/1702580830-better-paywalls-with-bitcoin-lightning-01.png)

The [Lightning Network](https://strike.me/learn/what-is-the-Lightning-Network) processes payments that are instantly settled, require no KYC, and can be transacted in amounts less than a penny. This unlocks new possibilities for low-to-no friction revenue models for accessing and engaging with content.

## Views and subscriptions
Standard paywalls for websites, articles, videos, and online documents are significant barriers. They often require users to submit their name, email, and/or payment info, as well as their money and time. This high friction leads content creators to be forced to turn to alternative models, such as selling ads, which come with their own undesirable intrusions and influences. 

What if an alternate content monetization channel could be provided, one with direct micro-payments, minimal friction, and global scalability.

With Lightning, paywalls can be reimagined. They can require no personal or payment info, can be set as amounts under one penny, and can be faster and easier to process. A *Lightning paywall* displays a Lightning invoice QR code, which is scannable by any Lightning-enabled wallet globally (including browser extensions) to unlock the content. Bitcoin Lightning payments are settled instantly, with no chargeback risk. This means users can arrive at the content, be presented with a QR code or browser prompt, finalize a one-time micro-payment immediately, and proceed to the content. No credit card number, no name and address form, no minimum $5 per transaction.

Lightning also opens new monetization formats, such as pay-per-paragraph or pay-per-minute website access by generating new invoices to “continue reading”. Such monetization strategies can also extend to videos, podcasts, and music content with pay-per-view or pay-per-second formats.

Monetizing content via Lightning offers a way to ditch legacy payment processors, enhance user privacy, and explore new payment amounts, frequencies, and possibilities.

![](https://www.datocms-assets.com/99305/1702580837-better-paywalls-with-bitcoin-lightning-02.png)

## Email and engagement
Beyond standard content monetization, Lightning can be used to authenticate online communication.

For example, you can build Lightning paywalls directly into your own email. When messages are received from select sources (or from all sources that are external to your organization), an auto-reply can be returned with a Lightning invoice QR code. Only once that invoice is paid will the original message be forwarded to the recipient. This can be a spam-mitigation tool, or can be used to filter communication towards only high-signal messages. 

For example, you could set a high payment threshold for any external emails to be delivered to your CEO's inbox, thereby protecting your CEO's inbox from unwanted or low-value communications. This concept currently works as a [real app](https://www.reacher.me/).

The same principle can be extended to any online engagement such as voting in online polls or for paywalling special in-app features. It can also be scaled with multi-tier paywalls for higher-value interactions. It's a way to segment and mediate user interactions, based on their intent and urgency.

## Web apps and services
Web-based apps and services face unique challenges when serving both one-time or recurring customers. 

Paid web apps incur immediate costs while in use (compute power, storage, hardware, etc…), while revenue for their service can take days or weeks to settle. This time mismatch means web apps often must front the costs to serve customers, while bearing chargeback risks that the revenue may fail or be reversed.

With Lightning paywalls, revenue can be collected up front, at low cost, globally, and settled immediately (with no chargeback risks). Bypassing card payment processors can also change the financial viability of web applications by enabling lower-payment minimums, lower transaction fees, and new pay-as-you-use revenue models, all while requiring no personal or payment information to be collected.

An immediate use for Lightning-enabled monetization strategies might be AI apps, which can be significantly more computationally intensive than other software services. AI apps that Incur significant costs, including hardware acquisition or computation/energy usage, could benefit from ensuring their revenues are settled upfront rather than serveral businesss days later.

Read more about how AI apps can benefit from Bitcoin and Lightning [here](/learn/better-artificial-intelligence-apps-with-bitcoin).

The [Strike API](https://docs.strike.me) is a tool that lets you easily and programmatically create Lightning invoices, collect Lightning payments globally (as either cash or bitcoin), and create better content monetization for your users.

Monetize content, without the friction

Better content monetization with Bitcoin & Lightning

Artificial intelligence is changing how business is done.

Large language models (LLMs) and machine learning (ML) technologies have led to an explosion of new AI-powered apps and services:

* Content creation
* Data analysis
* Chatbots and virtual assistants
* Education
* Language translation
* Text-to-image, text-to-audio, text-to-video

These services unlock huge creative potential for businesses and consumers alike.

![](https://www.datocms-assets.com/99305/1704930792-learn-better-artificial-intelligence-state-hero.png)

## Upfront costs, delayed settlement, missed opportunities
The business of AI faces unique challenges.

AI is computationally intensive, to a degree not matched by other software services. When customers use an AI-service, they require immediate computational resources – compute power, storage, hardware, and electricity. Every chat, image, analysis, or video that’s generated represents an immediate and significant cost to the business, presenting an obstacle to scalability.

To serve retail customers, AI-apps often turn to card payment processors as a primary revenue channel. Customers fill out a form with their credit/debit card number, name, and address, to be charged a subscription or one-time fee. Although their payment is quickly registered, *final settlement* of funds can take days to weeks.

What this means is variable costs are incurred upfront, while revenues are *settled* later.

This gap between costs incurred and revenue settlement time means that payments can fail or be reversed after services are delivered, exposing the business to added risk – fraud, chargebacks, and exchange rates. Added risk means added working capital requirements, added headcount, added overhead, and added costs.

Additionally, the card payment process imposes friction to the user experience:
* Users have to enter personal information
* Card processors charge high fees, which are ultimately borne by the user
* Cross-border payments can take longer or incur bad fees or rates
* Some foreign currencies might not be supported
* Cards have minimum payment amounts, rendering micropayments impossible
* Banks can block or reject payments altogether
* The entire payment process can be time consuming

These friction points obstruct customers who are ready and willing to pay. They also structurally exclude or impede entire segments of customers, including those who prioritize personal privacy, are highly price-sensitive, lack access to compatible banking/card services, are unbanked, or who simply live in unsupported countries.

To achieve scalability, why can’t AI-apps serve customers globally and deliver one-time service for $0.10, friction-free? 

Is it because the business or customer isn’t interested or because the payment infrastructure isn’t capable?

What’s needed is innovation in payments and settlement.

## Bitcoin & Lightning offer AI solutions
Bitcoin and Lightning are ideally suited for AI-powered applications. 

[Bitcoin](https://strike.me/learn/what-is-bitcoin) is peer-to-peer electronic cash. It’s secure, globally transferable, and readily convertible into any global currency. The [Lightning Network](https://strike.me/learn/what-is-the-lightning-network) is a second layer to Bitcoin, providing a way to transact real bitcoin, faster, cheaper, and more privately than on Bitcoin’s main blockchain.

Payments sent through the Lightning Network are:
* **Instantly settled:** Payments move at lightspeed, with no chargebacks or delayed settlement.
* **Low-to-no cost:** Routing fees can be as low as fractions of a penny.
* **Borderless:** It’s just as easy to pay domestically as internationally. 
* **Interoperable:** Payments and can be sent and received with any Lightning-enabled app.
* **Scalable:** Payments can be fractions of a penny to thousands of dollars.
* **Anonymous:** Customers don’t fill out forms, recipients don’t collect sensitive personal information.

What this means is that businesses can now accept ultra-low cost global payments through a network that supports sub-penny amounts with zero chargeback risk. Since bitcoin is an asset that trades 24/7/365 across all major currencies, payments can be received instantly, then programmatically converted into any other money. 

So what does this look like for AI-powered apps?

1. A user arrives at an AI-powered website or app 
2. They input their AI prompt or request 
3. A Lightning invoice QR code is generated and presented to the user
4. The user scans with any compatible Lightning wallet app and the payment is delivered instantly
5. The AI task is processed and delivered to the user
6. The AI app owns the bitcoin – unencumbered – which is readily transferable and convertible into any global currency

In this scenario, payments are not routed through the traditional payment rails of legacy card payment processors and banks, but through an alternate, permissionless network. The revenues are *settled upfront*, avoiding chargeback risks and the collection of the customer’s personally identifiable information.

It’s a new way to approach monetization, not just for AI-apps but for [any online content](https://strike.me/learn/better-paywalls-with-bitcoin-lightning/) or [other services](https://strike.me/learn/better-social-media-with-bitcoin-lightning/). 

It’s payment first, services second – at scale.

![](https://www.datocms-assets.com/99305/1707356681-learn-what-is-the-strike-api-state-hero.png)

## The Strike API
The [Strike API](https://docs.strike.me) is built to serve this type of use case.

It’s designed so that developers and businesses can easily send and receive payments across Bitcoin, Lightning, and cash networks. It’s fully interoperable with bitcoin and cash, meaning you can send and receive payments through the Bitcoin blockchain or Lightning Network from either your bitcoin or cash balance, and the Strike API will automatically handle any asset conversions behind the scenes. This lets you operate with whichever money best suits your needs for tax or volatility reasons, while giving you the flexibility to cash-out to bank accounts or send funds to Bitcoin or Lightning wallets worldwide.

So what does this mean?

It means you can add an alternate, low-cost payment channel, while expanding your total addressable market to include more global, privacy-focused, and underbanked customers. Using the Strike API, you can easily generate and display Lightning invoice QR codes on-demand to receive immediately-settled payments from any Lightning-enabled wallet, as either bitcoin or cash. 

It also opens the possibility of integrating your services into 3rd-party apps, since collecting revenue can be as easy as delivering your service. For example, you can serve customers via social media:
1. The customer messages their request to your service’s social media account
2. Your account auto-responds with a newly generated Lightning QR code
3. The customer scans the code with their Lightning wallet, instantly sending their payment
4. The request can be fulfilled 

Bitcoin and Lightning mean businesses are no longer beholden to expensive, limited, and slow card payment processors. 

Check out the [Strike API](https://docs.strike.me) and get started today.

Exploring what Bitcoin, Lightning, and the Strike API means for AI-powered apps

Better artificial intelligence apps with Bitcoin 

The Strike API lets you make borderless transactions with amounts, speeds, and costs that are impossible using legacy financial systems. 

![](https://www.datocms-assets.com/99305/1707356681-learn-what-is-the-strike-api-state-hero.png)

It's a payments API that makes cash and bitcoin transactions globally by using Bitcoin as both an asset and a network:
* **The bitcoin asset:** (Lowercase “b”) The scarce digital [form of money](https://strike.me/learn/is-bitcoin-money/) that’s traded across all major currencies 24/7/365 and used by people worldwide to hold and transact value.
* **The Bitcoin network:** (uppercase “B”) The global web of connections between computers running [Bitcoin’s software](https://strike.me/learn/how-does-bitcoin-work/), through which peer-to-peer bitcoin transactions are made.
* **Bitcoin’s Lightning Network:** The [Lightning Network](https://strike.me/learn/what-is-the-lightning-network) is a “2nd layer” scaling solution for the Bitcoin network, enabling real bitcoin transactions that can be finalized instantly, in amounts as small as a fraction of a penny, and for low-to-no cost.

What does this mean?

It means that people can trade local currency for bitcoin, hold bitcoin, send bitcoin anywhere, then cash-out to any other global or local currency. It’s a cash-to-bitcoin-to-cash conversion that lets value move across borders, apps, and assets, using Bitcoin as global payments infrastructure.

By making the cash-to-bitcoin and bitcoin-to-cash transactions programmatic and instant, value can be sent through the Bitcoin or Lightning Networks with unprecedented amounts, speeds, and costs.

That’s what the Strike API can do for you.

The Strike API is your gateway to getting into and using Bitcoin. It lets you send and receive cash or bitcoin transactions through the Bitcoin and Lightning Networks, while giving you the flexibility to operate exclusively in cash, for whatever tax, volatility, or accounting purposes. It also lets you ditch legacy payment processors’ expensive fees, chargeback/fraud headaches, lengthy settlement times, and frustrating limits.

By using the Strike API for your transactions, you gain:
* **Asset flexibility:** You can transact with cash or bitcoin, whichever money best suits your needs.
* **Bitcoin access:** You can acquire, hold, and sell bitcoin, programmatically.
* **Network interoperability:** You can send and receive via the Bitcoin (aka blockchain) or the Lightning Network, and then cash-out to external bank accounts via legacy cash networks.
* **Payment finality:** Once a Bitcoin payment is delivered, there are no chargebacks, reversals, or extended settlement times
* **Borderless payments:** It’s just as easy to accept payments from across the street as across the world.
* **Speed:** Lightning payments are settled instantly, while large payments via Bitcoin’s blockchain are settled in ~10 - 60 minutes.
* **Scalability:** You can send $100M on a holiday Sunday, or receive sub-penny micropayments second-by-second from global customers.

Bitcoin is global payments infrastructure and the Strike API is your gateway.

![](https://www.datocms-assets.com/99305/1702580875-how-to-use-send-globally-03.png)

## What can the Strike API do?
The Strike API is all about transactions. 

It’s connected to your Strike account, where you can hold a cash and/or bitcoin balance and easily exchange between the two (aka buy/sell bitcoin) and make borderless transactions. The Strike API’s functionality can be broken down into a few categories: exchanging, sending, receiving, directing, making cash payouts, and using OAuth for robust 3rd party permissions.

### Exchanging (buy & sell bitcoin)
Upon signing up and funding your account by depositing cash or receiving a bitcoin transaction, you can then buy and sell bitcoin programmatically, or trade bitcoin manually via the web-based [Strike Dashboard](https://docs.strike.me/account/dashboard) or mobile Strike app.

Programmatic bitcoin trading lets you build your own logic, timing, and/or frequencies into when and how you enter and exit bitcoin positions. Follow [this walkthrough](https://docs.strike.me/walkthrough/exchanging-currencies) to learn how to exchange cash and bitcoin.
### Sending payments
You can send cash or bitcoin payments through the Bitcoin or Lightning networks, including to Lightning invoices, LNURLs, Lightning addresses, or Bitcoin addresses, depending on your use case or payment size. For on-chain payments, you can also customize your fee level for how quickly you want your payment delivered, or pay no fees for flexible delivery times. Behind the scenes, Strike handles all necessary asset conversions and network operations to ensure your payments are made in the fastest and most cost-effective way possible. 

The ability to send cash payments through the Bitcoin and Lightning Networks, without even needing to hold bitcoin, means your payments gain the speeds and scalability of Bitcoin that can’t be matched by legacy systems. Follow [this walkthrough](https://docs.strike.me/walkthrough/sending-payments) to learn how to send payments.
### Receiving payments
Similar to sending, you can receive payments through the Bitcoin or Lightning Networks to either your cash or bitcoin balance. This involves the Strike API generating Bitcoin addresses or Lightning invoices on-demand, which can be presented to the sender either as a string of characters or in QR code format, depending on your use case. 

On-demand payment request generation, coupled with bitcoin transaction finality, means you can request and receive payments, settled as cash or bitcoin, without having to wait for lengthy and risky settlement schedules. Follow [this walkthrough](https://docs.strike.me/walkthrough/receiving-payments) to learn how to receive payments.
### Directing payments
“Directing a payment” is receiving a payment, where the recipient is not your own Strike account. This is made possible thanks to the Strike API’s integration with the Strike app and its global user base of customers. Directing payments is done by generating a Lightning invoice or Bitcoin address, with a specific Strike user’s username as the designated recipient.

The ability to direct payments on behalf of specific users opens up new design space for 3rd party-focused apps. Follow [this walkthrough](https://docs.strike.me/walkthrough/directing-payments-third-party) to learn how to direct payments.
### Making cash payouts to bank accounts
You can make programmatic cash payouts to US bank accounts via the Strike API. This includes payouts to personal or company-owned accounts, which can be held by either yourself or a 3rd party. 

When paired with the Strike API’s other transaction features, cash payouts means you can receive global cash payments via the Bitcoin network and have those payments automatically paid out in cash to a designated bank account via ACH or wire transfer. Follow [this walkthrough](https://docs.strike.me/walkthrough/making-payouts) to learn how to make cash payouts to bank accounts. 
### Using Strike OAuth Connect
Strike OAuth Connect is an integration that enables Strike users to log in to their accounts inside your app, grant permissions, and have your app send payments from their balance. It’s a way to build and customize Strike wallet functionality directly into your app, while also accessing an established global user base. 

With Strike OAuth Connect you can set payment parameters, such as amount, frequency, and reusability limits, for how and when payments are to be sent on behalf of the users. When combined with directing inbound payments, you can build sophisticated payment experiences, where payments can be sent and received between Strike users or any other Bitcoin or Lightning-enabled wallet globally. Follow [this walkthrough](https://docs.strike.me/strike-oauth-connect/) to learn how to use Strike OAuth Connect. 

## The Strike API benefits builders and businesses
The limitations of legacy financial networks are obstacles to overcome:
* “You can’t transact less than $0.01”
* “Payments over $10,000 take extra time to process”
* “Transfers don’t finalize on weekends, holidays, or off-hours”
* “Foreign currencies aren’t supported or get worse rates”
* “Funds may arrive in 1-5 business days before being spendable”

The Strike API lets you surpass legacy limitations. You can receive less than $0.01 or greater than $10,000 internationally, on a holiday Sunday and have the payment arrive and be spendable in seconds to minutes.

Legacy payment constraints are obsolete. 

The Strike API liberates payments to be built into an ever-wider range of apps and experiences:
* **[Content monetization:](https://strike.me/learn/better-content-monetization-with-bitcoin-lightning/)** Build new revenue models such as pay-per-second, pay-per-paragraph, or pay-per-interaction
* **[Social media:](https://strike.me/learn/better-social-media-with-bitcoin-lightning/)** Ditch “Like” buttons in favor of “zapping” real micro-payments for every social interaction
* **Spam & bot mitigation:** Require micro-payments or micro-collateral deposits for user authentication or feature interactions as a way to price-out bad actors
* **Gaming:** Introduce real money as in-game rewards or purchases, payable immediately
* **Global payroll:** Pay global employees and contractors every day or every hour and avoid banks’ punitive fees, bad exchange rates, and arbitrary limits
* **Corporate treasury:** Transfer large or small amounts to global partners, suppliers, or corporate entities, any time, any day
* **Bitcoin strategy:** Buy bitcoin programmatically for yourself or your business, to avoid arbitrary inflation and set your own financial future

When borderless, scalable, and low-cost transactions are as easy as an API call, there’s no limit to what can be built. 

The Strike API is where it all begins. 

Get started by contacting partners@strike.me for a no obligation conversation or reading through the API documentation today.

Making transactions faster, low-cost, and borderless

What is the Strike API?

## What is Strike?
Strike is your best way to Bitcoin.

It’s your gateway to a borderless money experience for saving, spending, sending, and receiving, made possible through Bitcoin.

![](https://www.datocms-assets.com/99305/1704980440-learn-what-is-strike-state-hero.png)

Our unending pursuit of better money ultimately leads to [Bitcoin](http://strike.me/learn/what-is-bitcoin) – the global system for peer-to-peer electronic cash. Bitcoin is money that’s free from manipulation and obstruction, providing a savings technology that’s open to everybody, yet controlled by nobody. 

Bitcoin also provides payments infrastructure for the world. People and businesses can convert their money into bitcoin, send it globally, and convert it out again whenever they want. With Bitcoin’s [Lightning Network](https://strike.me/learn/what-is-the-lightning-network/), money can now flow faster than ever, at low-to-no cost, and without borders. The frictions that obstruct our finances, ranging from arbitrary inflation to unfair fees and limits, are remedied through Bitcoin and Lightning. 

Bitcoin is a new money system based on rules, not the whims of rulers.

By building on Bitcoin and Lightning, Strike enables you to transact with cash and bitcoin in ways that are simply impossible in legacy systems. Your money can move across borders, apps, and currencies, in unprecedented amounts and speeds. And in bitcoin, you can now save in the hardest money on earth.

Strike is for better payments and better money — unobstructed, interoperable, global, secure, and fair. 

Rules, not rulers. 

Pawn to E4.