Coinfeeds Daily → Strike Rolls Out Bitcoin Purchases Globally, Integrates With Lightning Network

Strike Rolls Out Bitcoin Purchases Globally, Integrates With Lightning Network

Published: Nov 17, 2023 | Last Updated: Nov 17, 2023
Howard Kane

Crypto payment firm Strike enables Bitcoin purchases in 36 countries, partners with Bitrefill for Lightning Network transactions, and plans further global expansion, revolutionizing cryptocurrency accessibility

Global Expansion of Bitcoin Purchases Through Strike

Strike, a crypto payment firm, has made a significant move in the digital currency space by expanding its services to a global audience. Users from 36 countries can now purchase Bitcoin directly through the Strike app using their debit cards. This expansion includes various nations such as El Salvador, Australia, and some countries in Africa, marking a milestone in the accessibility of cryptocurrencies.

Understanding the Fees and Accessibility

While this service has been available to users in the United States without any fees, international users will encounter a 3.9% fee on their Bitcoin purchases. However, the founder of Strike has expressed an intention to reduce these costs in the future, aiming to make the service more affordable for users worldwide.

The global purchase feature is already accessible to iOS users and is slated to be fully operational on Android devices in the near future. This development is expected to enhance the convenience for a larger user base, as smartphone penetration continues to rise globally.

Partnership with Bitrefill and Lightning Network Integration

Strike is not just stopping at enabling Bitcoin purchases. In a strategic partnership with Bitrefill, the company is also providing its users the ability to make instant and almost free transactions using the Lightning Network. The Lightning Network is a second-layer technology applied to Bitcoin that enables faster and more cost-effective transactions.

This collaboration with Bitrefill significantly enhances the utility of Bitcoin for everyday purchases and transfers, potentially increasing the adoption of Bitcoin as a medium of exchange.

Future Plans for Expansion

Strike has ambitious plans to further extend its services to over 65 countries, signaling a commitment to making Bitcoin purchases a mainstream option for consumers around the globe. This expansion strategy could play a crucial role in the widespread adoption of Bitcoin, especially in regions where traditional banking services are limited or inaccessible.

Practical Takeaways

For consumers interested in entering the cryptocurrency market, the expansion of Strike's services offers a new avenue to purchase Bitcoin easily. However, it is important to be aware of the associated fees, especially for international users. Additionally, the integration of the Lightning Network through Strike's partnership with Bitrefill presents a practical use case for Bitcoin in daily transactions, potentially transforming the way we think about digital currency in our everyday lives.

As the landscape of digital payments continues to evolve, keeping an eye on companies like Strike and their innovations could provide insights into the future of financial technology and the role of cryptocurrencies in it.

Enjoyed reading this article? Subscribe for daily market and news updates.
Let me read it first >