Daaaaaaaamn Strike is now available in Germany š©šŖ I wouldnāt believe it if I couldnāt really install it on my phone šš¤£
Feel free to use my referral link:
Discussion
KYC necessary?
Yes, like for Revolut or Wise.
I have neither of these
But I am very interested in your experience
Both kind of neobanks, but Wise is very paranoid and restrictive while Revolut is more chilled regarding P2P transactions (useful for Robosats and Bisq).
Not supporting KYC also if its run by Jack. Just use nostr:npub1sqzr42dj8vx32yd5jcvvl3ytux45kl0etgf6y2ymjvmd7lqmuwmqk9vk7v KYC free to stack sats āļø
Relai and Pocket are the best options to stack on low fee environments for people in Europe.
but you are also KYCd
Ultimately for these services to be ācompliantā and to operate in Europe, there really is no way around the KYC regulations - P2P/face-to-face/zap-to-zap, is the only way.
Absolutely true. One could only mitigate the problem by locating the business in places like Luxembourg.
Does Luxembourg not have KYC regulation? The UK, obviously not in Europe now, has its own draconian KYC and other rules, which have simply driven everyone away.
Oh it does, itās much less draconian because Luxembourg is essentially an off-shore zone š¬ Also, in many cases Luxembourg simply wouldnāt disclose this KYC data and other tax data to the EU. This is why all rich Germans live or are registered there š
Use onlyfake.
I would love to see Strike in the UK. We need a lightning on/offramp.
nostr:note1nzz2yrqevxn9qz3mzwhk9fywd29u97xe6vl3a87y8ee88w0fwgssyruvyp
Same here - just for the ease of use.
Still waiting here in SĢµwĢµeĢµdĢµeĢµnĢµ Switzerland
Bad ass!!!
Nothing yet in Italy... Can you give us your experience of use?
So far my experience has been smooth. I deposited a few tens of euros, converted them to bitcoin, and sent to my Phoenix wallet ā all worked like magic for me. The fees are only a little bit higher than what Relai and Pocket offer (1.29% vs. 1.5%), but if you stack above ā¬1k/months, the fee drops below 1%. Also, I found that Strike covers on-chain fees, so you can send bitcoin directly to cold storage.
Sorry, 1.69% vs 1.5%
Cool! Thanks š¤
Do you consider those kyc free sats?
Absolutely not. You upload your ID when you sign up. Itās more like Revolut or Wise, but with cool bitcoin features.
So is sending sats via lightning considered selling? Like a taxable event?
No, sending sats between your wallets is never a taxable event. But for example sending some cash to a friend via Strike could be in theory considered as one because thereās a swap in the middle. But I hope itās a taxable event for Strike, not for us simple usersā¦
That would be interesting to know
But waitā¦ isnāt it possible to send sats straight to a LN wallet by using fiat? Like not buy first than send sats. I mean send cash to a lightning wallet. That would mean conversion not on your taxable side but on strikes side
I think I was talking about the following situation: You deposit some cash to Strike and send it to a friend, say, in the US (as cash). If I understand Strike correctly, the transactions are so fast and cheap, because they first swap your cash into BTC, then send this BTC to the friendās Strike wallet via Lightning, where it gets immediately swapped back to cash (in this case dollars) and shows up in the cash tab.
Now, this first swap is theoretically a taxable event for the friend (selling BTC) or, when the friend sends you some cash, itās a taxable event for you.
You can stack direct to cold storage with #[4], instead of buying and then withdrawing.