TL;DR
- Strike: custodial. They hold your BTC. Fast, well-integrated fiat rails (FedNow, SEPA Instant, Pix).
- Lightning Pay: non-custodial. You hold your BTC. Uses Strike + MoonPay rails under the hood for the same fiat speed.
- If you want the convenience of Strike without the custody risk, Lightning Pay is the third option.
Side by side
| Feature | Lightning Pay | Strike |
|---|---|---|
| Custody | Non-custodial (you hold keys) | Custodial |
| Bitcoin on-chain | Yes | Yes |
| Lightning Network | Native | Native (industry leader) |
| Buy Bitcoin | MoonPay + Strike rails | ACH, debit, wire |
| Sell to bank | FedNow / SEPA Instant | FedNow / SEPA / Pix |
| Auto-DCA | Yes | Yes |
| Bill pay | Yes (BitPay, Spritz) | Yes (US bill pay) |
| Hardware wallet | Yes (Ledger, Coldcard, Trezor) | No |
| Multi-wallet | Yes | No (single account) |
| Tax reports | Built-in (Tax Assistant) | 1099 only (US) |
| Country availability | Global | US, EU, parts of LATAM/Africa |
| Open source | Yes | No |
| Account freeze risk | None (no account) | Possible — TOS-driven |
When Strike is the better pick
You're a US resident who only wants to spend Bitcoin via Lightning, never plans to self-custody, and values Strike's polished UX and bill-pay catalog. Strike's fiat rails are fast and well-integrated — that's why Lightning Pay uses them under the hood for fiat off-ramps.
When Lightning Pay is the better pick
- You want the same fiat rails without Strike custody.
- You're outside Strike's supported countries.
- You want to pair a hardware wallet for cold storage.
- You need multiple wallets (personal, family, business).
- You want built-in tax reports, not just a 1099.
- You believe self-custody is the point of Bitcoin.
Fees, line by line
Strike's pricing is famously transparent for a custodian: 0.99% on Bitcoin buys above $25, 0% on Lightning sends, and free FedNow / SEPA Instant withdrawals up to the daily cap. Lightning Pay's pricing is even simpler because we don't take spread anywhere: 0.1% on in-wallet swaps, 0.5% on network withdrawals, 0.1% on bill pay, and 0% on monthly fees or card FX.
On a $1,000 monthly DCA buy, Strike charges ~$9.90 in service fee with no spread on top. Lightning Pay routed through Strike charges ~$9.90 too — the difference is that the Bitcoin lands in your wallet automatically, not in a Strike custodial account that you then have to remember to withdraw. Over a year that's twelve withdrawal steps you don't have to do (and twelve on-chain miner fees you don't pay).
Switching from Strike to Lightning Pay
Migration takes about ten minutes and doesn't require closing your Strike account first.
- Install Lightning Pay and write down your 12-word seed phrase on paper.
- In Strike, tap Withdraw → Bitcoin and paste a Lightning Pay receive address. For sub-$1k balances, use Lightning to avoid the on-chain miner fee.
- Recreate your Auto-DCA schedule in Lightning Pay. The rail underneath is still Strike — only the custody changes.
- Keep Strike installed if you use US bill pay; both apps can coexist on the same phone with no conflict.
FAQ
Ready to own your Bitcoin?
Lightning Pay is free, open source, and non-custodial. Your keys never leave your device.