Bitcoin lightning purchases. Strike: 0.65% fee. Binance: fees galore. 1k USD results in a $993.5 of bitcoin on strike vs (estimate) 960 USD before withdrawing. Is there room for more competition wth 0.65% fees?
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Okay, so I just recently started playing with strike. The purchase I made was small. The setup process was not difficult, and I can make purchases again whenever I choose. They show you the fee you are paying and the amount you are getting in return.
But years ago I remember helping a family member use binance to buy bitcoin and a 1k purchase ended up becoming 960 USD of bitcoin before withdrawing anything.
The difference here is pretty clear. I suppose the only question now is, "How do these fees compare to other platforms that support bitcoin on lightning like Coinbase (soonTM), Kraken, and a few others like nicehash?
If there was an app or a platform that could out-perform strike, then how would they do it?
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