Strike Crypto Review: Pros, Cons, And Alternatives

Strike At A Glance

Strike doesn't have a Cult of Money Exchange Score yet because it isn't in our market snapshot.

How Strike Works

Strike holds your bitcoin and dollars (or pounds or euros) in one app. You fund the account by bank transfer, direct deposit or card, buy bitcoin at Strike's quoted price, and then either keep it in Strike or send it to your own wallet.

Sending runs over two networks. The Lightning Network is a payment layer on top of bitcoin that settles small payments in seconds for a tiny fee. Regular on-chain transfers take longer and cost more. Strike lets you choose from three on-chain speeds and charges a send fee only on the two faster ones, according to its fee and rates FAQ. Our article on layer 2 solutions covers how Lightning fits on top of bitcoin.

Strike Fees

Strike used to advertise bitcoin purchases with no fee. That's no longer the case. Personal accounts now pay a trading fee based on how much they trade in a calendar month, plus a spread built into the price.

These are Strike's US tiers. Strike's UK fee FAQ lists pound tiers instead: 0.89% up to £49,999.99 a month, then 0.79%, 0.69% and 0.59%, down to 0.49% from £15 million. Check the fee screen in the app for the rate in your country. The trade that crosses a threshold gets the lower rate on its whole amount. Strike also targets an all-in spread of 0.22% over the midpoint price, so on a $1,000 one-off buy at the lowest tier you'd pay about $8.90 in fees plus about $2.20 in spread, roughly 1.1% in total.

Recurring buys change the math. After the first week of an hourly or daily plan, or from the second purchase of a weekly or monthly plan, the trading fee is waived. A $100 weekly buy would then cost only the spread, about $0.22. Debit card deposits in the US carry a separate 1.99% fee with a $0.99 minimum, while bank (ACH) and wire deposits are free, according to Strike's deposit FAQ.

Features Beyond Buying Bitcoin

• Paycheck to bitcoin: route part or all of a direct deposit into bitcoin, with no trading fee on up to $20,000 a month.
• Bitcoin-backed loans: US term loans start at 10.50% APR for loans under $250,000 with monthly payments and fall to 7.49% for $5 million to $10 million, according to Strike's loan terms. A "volatility-proof" version with no margin calls adds 2.95 percentage points. A line of credit currently charges a variable 11.25%. Strike says there are no origination, early repayment, late or liquidation fees. You can borrow up to 50% of your bitcoin's value at the start, and personal loans are offered in most states, D.C. and Puerto Rico, with minimums from $10,000 in most places. Hawaii has no loan options, and personal loans aren't offered in Delaware or Maryland.
• Bitcoin Interest on Cash: launched in October 2026, it pays 3.60% a year on US dollar balances, with the interest used to buy bitcoin rather than added to your cash, according to Strike's banking page. The rate can change. The dollars sit at Cross River Bank, Member FDIC, with coverage up to $250,000, which doesn't extend to the bitcoin you're paid in.
• Sending money abroad: Strike can send dollars or bitcoin to people in other countries, with payouts to bank accounts or mobile money wallets in a smaller set of countries.

Where Strike Is Available

Strike lists 98 countries on its availability FAQ, with buying, selling and holding bitcoin supported in all of them and some features limited by region.

New York residents gained access in early 2026 after Strike's parent received a BitLicense and money transmitter license from the state's Department of Financial Services, The Block reported. Loans are offered only in the US, and interest on cash applies to US dollar balances.

Readers in Canada and Australia can use Kraken or Coinbase, which serve both countries. Canada's Bitbuy became part of Robinhood when Robinhood closed its purchase of WonderFi on June 1, 2026, and Australians can also look at CoinJar.

Safety And Regulation

Zap Solutions, Inc. runs Strike in the US and is registered with the NMLS. In Europe, Zap (Strike) Europe Limited received a crypto-asset service provider license under MiCA from the Malta Financial Services Authority, effective June 25, 2026, which lets it serve all EU member states. France's market regulator lists it on its MiCA register.

We found no fines or enforcement actions against Strike or Zap Solutions, and neither appears in our crypto fines and penalties tracker or crypto hacks tracker. In October 2023, Strike said it found no evidence to support online claims of a data breach, according to The Block.

Strike doesn't publish a proof of reserves. Bitcoin you keep in the app is held by Strike, so you rely on the company to stay solvent. Moving coins to a wallet you control removes that dependence. Our not your keys, not your coins article explains why.

Strike Pros And Cons

Pros

• Low cost for regular buyers, since recurring purchases skip the trading fee
• Fee tiers and spread target are published, which many apps don't do
• Fast, cheap Lightning sends and free withdrawals to your own wallet on the slowest on-chain option
• Licensed in New York and authorized under MiCA in the EU

Cons

• Bitcoin only, with no other coins or stablecoins to buy
• A one-off $1,000 buy costs about 1.1% all in, more than the 0.80% lowest-tier taker fee on Kraken's order book
• Not available in Canada or Australia
• No published proof of reserves

Who Strike Is Best For

Strike fits people who only want bitcoin and plan to buy it on a schedule, such as weekly or with each paycheck. It also suits anyone who sends bitcoin often and wants Lightning built in. If you want to own Ethereum or other coins, or you trade large one-off amounts, an exchange with an order book will cost less.

Strike Alternatives

• Cash App (US): buys and sends bitcoin with Lightning support, inside an app many people already use. Visit Cash App.
• River (US): another bitcoin-only service with recurring buys and interest on cash. We don't review River yet.
• Kraken (US except New York, UK, EU, Canada, Australia, Global): hundreds of coins and an order book with a 0.80% taker fee at the lowest tier, earning a Cult of Money Exchange Score of 4.0 out of 5. Visit Kraken.
• Coinbase (US, UK, EU, Canada, Australia, Global): the largest US-listed exchange, with a score of 3.5 out of 5. Visit Coinbase.

Our best crypto apps ranking compares more options.

Risks: What To Watch Out For

• Price swings: bitcoin can lose a large share of its value in months, and recurring buys don't protect you from that.
• Custody: coins left in Strike depend on Strike's solvency. There's no SIPC or FDIC coverage on bitcoin.
• Loan liquidations: Strike's standard loans can be liquidated if bitcoin falls far enough. Many borrowers in its earlier loan product, launched in May 2025, were liquidated when bitcoin fell sharply, Cointelegraph reported.
• Irreversible sends: Lightning and on-chain payments can't be pulled back. Check the address or invoice before you send.
• Changing terms: Strike has changed its pricing from no fee to tiered fees, and loan and interest rates can change.

FAQ

Is Strike Free To Use?

No. Strike charges a trading fee of 0.89% or less on each buy or sell plus a target spread of 0.22%. Recurring buys after the first week, and paycheck conversions up to $20,000 a month, skip the trading fee.

Is Strike Available In New York?

Yes. Strike received a New York BitLicense and money transmitter license in early 2026, so it now serves all 50 states, D.C. and Puerto Rico.

Can I Use Strike In The UK, Europe, Canada Or Australia?

Strike serves the UK and 26 EU countries, and its European entity is authorized under MiCA. Canada and Australia weren't on its country list when we checked on Nov. 1, 2026.

Does Strike Support Coins Other Than Bitcoin?

No. Strike is bitcoin only. You can hold dollars, pounds or euros in the app, but you can't buy Ethereum, Solana or stablecoins.

Is Strike Safe?

We found no fines or confirmed hacks against Strike, and it holds New York and EU licenses. Bitcoin kept in the app still depends on the company, so moving it to your own wallet lowers that risk.

Can I Withdraw Bitcoin From Strike To My Own Wallet?

Yes. You can send bitcoin over Lightning or on-chain. The slowest on-chain speed carries no Strike send fee, while the faster ones do.