Strike, the payments platform has aimed at Coinbase, as it announces the possibility for people to trade Bitcoin by paying very low fees. Jack Mallers the CEO of Strike has stated that his company will be the “cheapest and easiest place on the planet to acquire BTC.”
According to the announcement made by Strike CEO, U.S. customers can now easily buy or sell Bitcoin with almost zero fees, starting today.
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There are several exchanges that aim to offer a convenient and easy way for people to trade or invest in Bitcoin. But the question is what makes Strike stand out? Let’s find out.
What Makes Strike Stand Out?
The announcement by Jack Mallers regarding services offered to U.S. customers puts his company in direct competition with PayPal and Square. PayPal embraced the crypto assets and started offering them within the platform in Q4 of 2020.
Now, Strike has stepped forward with the aim to make Bitcoin trading easy and affordable for everyone.
Mallers posted a tweet a few hours ago that announced the launch of “Bitcoin Tab”.
Strike plans to work towards offering a zero-fee to U.S. customers, starting from charging a maximum execution fee of almost 0.3%. As the volume grows in the coming months, the firm aims to reduce this to 0.1% and even lower.
Jack Mallers took a direct aim at Coinbase and highlighted the fact that it charges a very high fee to its users. He critiqued Coinbase and stated that the platform made $1.8 billion in revenue in Q1 of 2021. $771 million out of that was in profit, 94% of which came from the fees charged by the exchange.
Strike CEO also spoke about the rising fee charged by PayPal and stated that his company aims to bring the prices in the market really low and close to nothing.
“Our mission is to secure financial freedom for all, and we won’t stop until we do so for all 8 billion people on the planet.”
It has also been reported that Strike has partnered with El Salvador to assist the government in the adoption of Bitcoin as a legal tender in the country. This could benefit both El Salvador and Strike’s aim to make BTC easily accessible for all interested parties.
Why Choosing a Platform Carefully is Important?
There is no shortage of crypto exchanges that offer the services of buying, selling or trading Bitcoin, regardless of where you live in the world. However, choosing the best Bitcoin exchanges is essential for you, especially if you are a beginner.
Bitcoin has an undeniable significance and choosing the best exchange is important so you can avoid hackers and other risks to safety while investing in BTC.
As a first-time crypto investor, you should know that not every platform is suitable for novice parties and experts alike. Therefore, in order to safely and easily buy BTC, it is imperative that the exchange you choose is secure and trustworthy.
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