Strike is a game changer on so many levels, including stacking sats.
When Strike launched, I was intrigued. It claimed to make regular bank accounts speak Bitcoin. The concept did not click right away for me. I downloaded the beta, set-up my account, and secured my name. I was excited but didn’t quite know how magical this concept was, yet.
I kept exploring the simple and elegant UI. Sleek — deposit, withdraw, send, and receive. Straight to the point. It wasn’t until I hit “Send” that it all made sense.
So you’re telling me I can pay a Bitcoin invoice with fiat!?
Turns out that’s exactly what Strike is telling me. So I made myself a Bitcoin invoice using BlueWallet, deposited some fiat into Strike, scanned the QR code and voila — I converted fiat into bitcoin — just. like. that.
This step-by-step uses Bitcoin on-chain. Strike only charges the regular Bitcoin network fee for the transaction. Strike also supports Lightning — and it’s free of charge if you go that route!
I use BlueWallet on iOS for this demo. You can use your Bitcoin wallet of choice.
1. Download strike.
The first step is to download strike and set-up your account. The sign-up process is a breeze.
2. Deposit fiat into Strike.
Deposit the amount that you plan to use, plus a few extra bucks to cover the Bitcoin network fee. Strike will do the calculations and let you know if you have enough funds to cover the costs.
3. Open BlueWallet to receive bitcoin.
I like to create dedicated wallets for specific purposes. For instance, I have a “Strike” wallet that I use exclusively for my “Strike Stacks”.
4. Generate an invoice: “Receive with Amount”.
5. Input the amount of bitcoin you wish to receive. I also like to give the invoice a label, i.e. “Strike Stack”.
6. Now that I’ve generated the invoice, I will copy the invoice to my clipboard.
7. Go back to Strike and select “Pay” to initate the fiat-to-bitcoin payment magic. Paste the invoice address from the previous step.
8. Confirm the details.
9. You will receive a success message once the payment is broadcast.
10. BlueWallet will notify you that the payment went through.
11. You can see the payment in BlueWallet pending confirmation.
12. Wait a block or two (10 to 20 mins) — your payment is now confirmed.
And just like that you have stacked sats, on-chain, using the magic of Strike.