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Strike: Bitcoin & Lightning Payments

latest release: v82 last analysed  18th January 2021 A wallet but not for Bitcoin  
4.0 ★★★★★
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Do your own research!

Try out searching for "lost bitcoins", "stole my money" or "scammers" together with the wallet's name, even if you think the wallet is generally trustworthy. For all the bigger wallets you will find accusations. Make sure you understand why they were made and if you are comfortable with the provider's reaction.

If you find something we should include, you can create an issue or edit this analysis yourself and create a merge request for your changes.

The Analysis 

This app does not hold Bitcoins but it allows to interact with Bitcoin wallets in that you can send to and receive from Bitcoin wallets but your balance is always in fiat.

The provider claims this wallet is non-custodial but …

Is Strike custodial?
No. Users never custody Bitcoin through Strike. Strike is the custodian of the fiat deposited onto the app. All fiat is FDIC-insured and users are free to withdraw these funds to their linked account at any time.

that sounds like a “custodial wallet”, doesn’t it? It’s not a Bitcoin wallet though. We could also go with “custodial” as all the funds are being held by the provider and it sure enough is promoted as a Bitcoin wallet. Please raise an issue on our GitLab if you feel strong about this verdict.

Verdict Explained

The product can send/receive something but not BTC.

As part of our Methodology, we ask:

Is it for Bitcoins? If not, we tag it No BTC  

At this point we only look into wallets that at least also support BTC.