Strike Announces ‘Visa Card’ Feature Letting Users Pay Anywhere With Bitcoin

Btc

Bitcoin

$42.743
price

2.69037%
price change

TRADE NOW

This will allow Strike users to pay for goods and services in Bitcoin with any Visa-accepting merchant. 

• In a tweet on Thursday, Strike revealed its new Visa card, which it called the “Strike Card.”
• “You can now take Strike anywhere and earn rewards on everyday spending,” explained the company. The card rewards users with incentives for every purchase and charges no added fees. 
• Strike added that it would take 1% of the profits generated by the card to fund open-source Bitcoin developers. “Funding Bitcoin with every swipe,” said the firm. 
• Furthermore, it promised a “little gift” to those that refer their family and friends to the card’s early access waitlist.
• The strike is famous for allowing users to buy Bitcoin with virtually 0 fees, a model with no equal among most major exchanges (besides Binance).
• The app also lets users receive their salary in Bitcoin by automatically converting a select portion of their regular fiat-based paychecks. Coinbase offers a similar service, but for multiple other cryptos. 
• Despite the partnership, Strike has promised to openly compete with Visa as a payment processor. Through various partnerships, it intends to leverage the lightning network to bring lower fees to merchants across the United States. 
• Strike founder and CEO Jack Mallers told Bloomberg last month that the lightning network is “the most American thing” at solving distant payments. 

If you were to rebuild Visa, you would do it just like the lightning network,” he argued. “All the banks would be independent nodes that are on a distributed payment rail, and everyone’s open to competing on how to sling the value between each other.