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Strike: Send and Spend Bitcoin

latest release: 1.0.14 last analysed  18th January 2021
A wallet but not for Bitcoin
4.8 ★★★★★
10th August 2020

Published:

Our last analysis is based on data found in their App Store description .
details below 

Help spread awareness for build reproducibility

Please help us spread the word, asking Strike: Send and Spend Bitcoin to support reproducible builds via their Twitter!

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.

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

A wallet but not for Bitcoin
The app cannot send and receive BTC. We currently do not investigate other cryptocurrencies.

This app appears to not be a bitcoin wallet but might serve as a relevant app for other tokens or currencies that we currently are not looking into yet. Feel free to comment on our issue tracker if you think we missed something.