Strike Launches in Europe: Expanding Bitcoin and Lightning Network Services Across the Continent

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Today marks the eagerly awaited European debut of Strike, the renowned Bitcoin and Lightning Network payments app. The launch allows eligible individuals and businesses across Europe to engage in buying, selling, sending, and withdrawing bitcoin, as well as making payments in local currencies.

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European enthusiasts have frequently questioned when Strike would begin offering its services on the continent, often asking, “Wen Europe?” In response, founder and CEO Jack Mallers excitedly declared, “Now!” in a statement to The Block. Notably, prior to this official announcement, some European users had already spotted Strike on app stores.

The app, available on both iOS and Android platforms, supports the direct purchase of bitcoin with free, unlimited SEPA euro deposits from users’ bank accounts, providing instant transactions where possible. It also facilitates the scheduling of recurring bitcoin purchases. SEPA, or the Single Euro Payments Area, is an initiative by the European Union aimed at simplifying euro-denominated bank transfers.

Strike users can also sell their bitcoin, withdraw funds to their bank accounts, transfer bitcoin to their own wallets, or make limitless payments over the Bitcoin or Lightning Networks, according to the company.

Moreover, Strike offers “free” on-chain bitcoin withdrawals, which are designed to mitigate the impact of high transaction fees during network congestion. These withdrawals aim to promote the scalability of Bitcoin usage, though they require users to be adaptable with an expected confirmation time of about 24 hours. For quicker transactions, fees still apply on a sliding scale.

The Lightning Network, which Strike utilizes, consists of bi-directional payment channels built atop the Bitcoin blockchain, facilitating rapid and low-cost microtransactions.

Each Strike customer is assigned a Lightning Address, which simplifies receiving payments through its email-like format (username@strike.me), offering an easier alternative to the complex traditional Lightning invoices. Users can opt to receive payments in either bitcoin or euros, with automatic conversion for the latter, and send funds from either their bitcoin or euro balances. Additionally, they can issue zero-value Lightning invoices to receive any amount in bitcoin.

European Strike users can also benefit from the app’s global peer-to-peer transfer capabilities via the Lightning Network, enabling them to instantly send euros from their balance to another Strike account, with recipients receiving the funds as bitcoin, euros, U.S. dollars, or USDT, depending on their location.

Strike’s “Send Globally” feature further enhances its offerings by enabling European users to execute fast, low-cost remittances in local currencies to supported regions like Africa, Brazil, the Philippines, Mexico, and Vietnam, using the Bitcoin Lightning Network as an underlying payment mechanism.

Having rapidly expanded from Latin America to Africa, U.S.-based Strike is now accessible in over 70 countries.

Mallers highlighted the transformative impact of Bitcoin: “Bitcoin is reshaping the global financial landscape with its technological innovation, global interoperability, resilience, and unforgeable monetary policies. It transcends borders, enhances financial inclusion and solves some of the world’s most pressing challenges.”

With Europe being the third-largest economy globally and home to over 440 million people, Mallers sees significant potential for Bitcoin adoption. He remarked, “As a leading bitcoin-only app, we believe that Strike is uniquely positioned to meet the needs of millions seeking access to Bitcoin in Europe.”

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Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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