Strike Debuts Bitcoin Lightning Network App in UK Paving the Way for Global Revolution in Crypto Payments

Strike has officially launched its Bitcoin and Lightning Network payment app in the UK, providing individuals and businesses with a more seamless way to engage with Bitcoin. After a successful rollout in Europe in April, Strike is now available in 100 countries, including the US, Latin America, and Africa.

Let’s take a closer look at the timing and significance of Strike’s entry into the UK market.

Cryptocurrency in the UK: An Overview
According to a survey from Finder, about 11% of Brits, as of 2024, have invested in cryptocurrency, which equates to around 5.6 million adults. This is a significant increase from 2018, when only 3% of the population owned some cryptocurrency. Men are more likely to invest in cryptos, with around 14.5% compared to 7% of women. Bitcoin remains the most popular cryptocurrency in the UK, chosen by 47% of British crypto investors in 2023. Ethereum and Dogecoin follow, with 33% and 21% respectively. The majority of Bitcoin owners in the UK are male.

Strike: A New Era of Bitcoin Transactions
The Strike app offers comprehensive Bitcoin capabilities for UK users, allowing them to buy, sell, send, withdraw, and make global payments with Bitcoin. The app is available on both iOS and Android devices and offers free, unlimited GBP deposits from bank accounts, automatic conversion, and scheduled recurring purchases. Users can also sell Bitcoin, withdraw to bank accounts, transfer to self-custodial wallets, or make instant payments over the Bitcoin or Lightning Network. Strike also offers free on-chain withdrawals to help users navigate high network fees during congestion.

The app also features an innovative Lightning Network that operates as a network of bi-directional payment channels on top of the Bitcoin blockchain, enabling fast, cost-effective micropayments. All Strike users receive a Lightning Address, simplifying the process of receiving payments compared to traditional Lightning invoices.

Strike Global Transfer: Economic & Easy
UK users can take advantage of Strike’s global peer-to-peer transfers via Lightning, sending GBP to a friend’s Strike account instantly anywhere the app is available. Recipients can receive funds in Bitcoin, GBP, euros, U.S. dollars, or USDT. Additionally, Strike’s ‘Send Globally’ feature offers fast, low-cost remittance, converting GBP into local currencies in countries like Benin, Ghana, and Nigeria using Bitcoin’s Lightning Network.

Strike & UK Regulation
In order to comply with UK regulations, Strike users must provide their investor classification and pass an ‘Appropriateness Assessment’ knowledge test. Strike Learn offers educational resources to help users understand the service, Bitcoin, and potential risks. UK customers receive risk warnings as per local rules.

According to the Finder survey report, the most popular reason for buying crypto in the UK is the belief in its future influence. However, over 71% of the population has no plans to invest in crypto, citing lack of interest, perceived risk, and concerns about scams.

Strike is poised to significantly enhance Bitcoin adoption, offering comprehensive features and strict regulatory compliance. This development marks a major step forward for Bitcoin payments and global financial integration.

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