Get the Strike App and Set it Up
Guys I am chilling in a hotel room in one of my favorite places and enjoying a cup of coffee and yet writing up this post. If you know me in my 13+ years of doing TSP I never mix vacation and business and here I am doing it.
Why?
Because I have told you about Strike but I have honest to God missed how great it is. I am not going to go deep into it here, but when I get back I will on the podcast. But here is one example. Would you like your employer to say pay you in bitcoin and in any amount. Say 3% of your weekly check, with zero fees. Strike will let you do that. 5%, 10%, what ever you want. How?
It is called Pay Me in Bitcoin. But what if you employer says no?
They won’t you just do a direct deposit form, like you would for any bank account. In Strike you say convert X% instantly to Bitcoin. Done. Saying no isn’t really an option, you just change all or some of your direct deposits.
Now yes to use Strike this way you must do KYC. (know your customer) So what? Like I keep saying you want Bitcoin you put away for your future as lily white as the driven snow anyway. Why? I’ll explain when I get back if you have not heard me do so before.
Right now though I suggest everyone set up Strike because it is free and easy. Get the app, do your payment verification and you can start buying BTC with a bank account or a debit card fast. When you do they will give you 5 dollars in BTC. I keep saying BTC is the single most important asset to own, that just keeps becoming more clear over time. Strike simply is now the easiest and cheapest way to get it done.
Even if you don’t want to use the Pay Me in Bitcoin Option, I’d get this anyway. I’ll admit it as cool as I thought Strike was I really didn’t get how cool it was for the average American. I was more caught up in what it did for El Salvador.
Let me put it this way, if you buy 100 dollars in BTC on most exchanges you will end up with 95-97 dollars after fees, with Strike you will have all 100 dollars. There is more, much more, but for now, just get the app and get it set up. I will fill you in when I get back. Buy 50 or 100 bucks in Bitcoin and see how easy it is. Once you do it will all click for you. Hell I just did it myself and that plus the pay me in Bitcoin option caused me to get up and write this post before I even baited up a rod to go fishing, really think about that.
Note – Full disclosure if you use the link in this post or give my referral code when you sign up (IRL0U1) when you get your 5 dollar bonus I get one too. I always disclose deals like this and let me say it is not the only reason I am doing it. I have know about Strike’s referral program for almost a year now. Like I said, I simply underestimated how great this product is. I predict Strike will be bigger than PayPal in a few years. They are really on to something. Again if I took the time on vacation in of all places Sanibel to write this up, it says something. Get the App Here.
Does this replace Coinbase as your preferred method of buying crypto? Or something different?
More something different. Strike is USD and BTC only, Coinbase has a butt ton of alts. If all you want though is BTC, yes I would say go with Strike.
Deposit Limit looks ridiculous per the reviews. How much are the lightning invoices? Going to install and check it out but I think will be sticking with Swann which is incredibly cheap, secure and easy to move USD in and BTC out to a wallet as my main purchasing method. Being I am a HODLER I am not sure this app is for me.
The deposit limit is 1K a WEEK, not total. I don’t know that for such an app it is ridiculous. Unlimited direct deposits. Withdrawal is high and I a betting deposit limits are higher with a linked bank account rather then with a debit card.
May be it isn’t for you as a HOLDR but it may be for you as an accumulator/buyer. You can withdraw anytime you want. Sorry but. your comments just seems low information to me.
Its 1k a week if you give them a copy of your id etc. If you just give your phone/email its $100.
As an accumulator/buyer I still feel Swann is a far better option. Auto deposits, auto withdraw to coldstorage/wallets, super cheap etc etc.
If people want to use bitcoin as a payment method then STRIKE sounds great, but I wouldn’t suggest anyone use bitcoin as a payment method. There are better options to pay in crypto than BTC. #HODL
Sorry wrong, I gave no ID I have the 1K a week limit and NO BROKERAGE is going to let you buy much with fiat without KYC.
Honestly that fact you can buy this much without it, shocks me.
Though I will point out a phone number and debit card or bank account are pretty much 100% linked to you anyway. Yet again though you’re making claims as fact that are wrong. You are entitled to any opinion you like, facts though are facts.
After the install and we both got the $5 bonus, I then find out that “Strike is currently not supported in New York.”
I gotta get out of New York!
Vpn! I use surf shark.
Well the issue is your cell number I think? Since it is a mobile app and all.
“Hell I just did it myself and that plus the pay me in Bitcoin option caused me to get up and write this post before I even baited up a rod to go fishing, really think about that.”
THINK ABOUT THAT.
Worth looking into for sure!
Looked at it yesterday, Downloaded earlier today and have my HR dept working on getting their bank added so i can get direct deposit from work into this account (in BTC)!
The one issue I ran into is sort of this but backwards. My bank is not in the Strike system. So I can link my debit card but not my bank. For me this NOT an issue. Since I do not run a typical payroll (for one person, me) there is no need. But it could be for others!
It will be one of the things I will cover as (good but not perfect) when I get back.
For some to use this they may want to open a new bank account for the fiat side of the world. Really surprised me Frost was not in there, while regional it is a pretty big ass bank.
I am going to add though, in a year or so I bet it won’t matter, I think Strike will be able to let you pay all your bills, write checks when needed etc. by then. Personally unless the big banks accept reality Strike is going to become the biggest bank in the world. And I didn’t not stutter when I said it.
Oh yesssss, I’ve been researching a tiny bit to do a direct deposit btc payroll!!
I get paid from my website wondering if i can avoid the fiat deposit with this app.
Forgive my ignorance on the topic, but wondering, regarding the being paid by your employer in BTC… When the yearly question is asked by the IRS “Did you purchase any crypto this year?” would that count towards the question? Seems like you did not “Buy” it but that your employer paid with it. Might be semantics but being issued payment is not the same as purchasing. If this was the only crypto you acquired in a year, but you received payment in BTC every two weeks all year long, did you “Buy” any? And if you did not “Buy” it, then are you liable for any gains it has during the year? How would track liquid gains/losses throughout the year for reporting?
That is a really good question, I didn’t even know the IRS asked if we bought crypto. I am learning a little at a time and it seems the more I learn the more confusing it gets. I hope that means I’m getting close to understanding Lol.
Jack, did you do any follow-up comments in a podcast on Strike after returning from vacation? I searched the TSPC website for Strike and only got this link.