Check the spreads then. That is probably where the “fees” are. Strike ain’t making hundreds of millions in profit doing zero fees.
Discussion
Also are you hit with any fees when you send to your own cold storage?
Yes, same as any other exchange though
If you’re going the KYC route then Kraken has the lowest fees and spreads I’ve seen. Might want to compare those spreads/fees add up over time especially if you’re converting all your money every payday.
Yes, there’s no fees to buy with paychecks, just to sell it there’s a fee and obviously a sending fee, I’m not sure if they charge a fee to send or if it’s just an onchain fee
Also if you are sending on chain they will wave the fee for sending it if you choose 24 hours
Sounds pretty good then I would just check spreads compare the price on Bitbo or whatever you use to check market price and compare it to what strike charges at the same time. It’s probably a couple percent, just guessing. If it’s lower than that it’s pretty good. Exchanges either make money from fees or spread or a combination of both.
Their prices are super reasonable, and for the convenience it's worth the price
No on chain fees when you withdraw if you’re patient. Spreads are best I’ve found every time I’ve mathed it out(five or six separate occasions) when they introduced fees over spreads it tighted up significantly. No fees after a week of automatic purchases, no fees on direct deposits. Hard to beat as a pleb.
They make their money on whales.