Strike has announced the launch of Strike UK, which will make Bitcoin ($BTC) accessible to over 67 million citizens of the country. The objective is to foster global expansion of the venture. It comes months after the announcement of plans to expand in Africa and Europe. A move to the UK has been defined as significant.
Strike UK will have all the key functions linked to Bitcoin: buy, sell, and withdraw. Deposits are not limited; however, new users must wait 24 hours after registration to start trading the flagship token. The cool-down period will commence only after users have completed their registration with the platform. It includes the UK regulators’ mandatory Appropriateness Assessment test.
Strike has acknowledged that the UK will have a huge role to play in the adoption of Bitcoin. According to Strike’s blog post, the UK is the second-largest economy in Europe and the sixth-largest globally.
An entry into the UK marks an entry into a hundred countries and territories, including the US, Africa, and Latin America.
To begin trading, users in the UK can download the Strike UK mobile application. If users are too naive to start trading BTC, they can access Strike Learn, a resource hub that offers educational material to users, helping them learn about the platform and the digital asset.
One of the features that stands out is the ability to schedule recurring purchases. Instead of manually visiting the mobile app and purchasing the token, users can automate the process by choosing to execute a recurring process. It can be hourly, weekly, or monthly, as per one’s preference. Users can adjust the amount they want to spend on it so that they still have enough balance in their wallet.
Strike UK essentially connects UK residents to the rest of the world in terms of exchanging Bitcoin. Global P2P transfers fuel near-instant transactions with the lowest fees possible. In addition to Bitcoin, users can also send money globally through Send Globally. A limit has not been defined, but the blog post has said that the network will support low-cost local currency payouts in eligible countries.
This expansion brings together the best features of the Bitcoin and Lightning networks. It includes free on-chain withdrawals, seamless transactions, and accessibility to zero-value Lightning invoices.
In a blog post, Strike stated that they are now accepting business applications, provided they are willing to support Bitcoin. Business customers will have access to all functionalities that individual customers have, including buying, selling, and withdrawing BTC from their GBP balance using bank transfers and other options.
That said, BTC dipped to $61,555.18 at press time, up by 1.29% in the last 24 hours amid 3.68% volatility. A rise in Bitcoin adoption could fuel several uptrends, potentially paving the way for a value of $150,000 by year-end.