Setting up bill pay with your Strike account is simple and ensures your bills are covered automatically from your selected balance. Before you begin, make sure you are eligible for bill pay and that your Strike app is up to date.

Setting up bill pay

To set up bill pay within the Strike app, follow these steps:

1. Access bill pay: Open the Strike app, visit your Account screen, and tap “Bill pay”
2. Generate billing details: Strike will automatically generate your account and routing numbers that you’ll share with your biller
3. Select your default balance: Tap “Pay bills with” to set either your bitcoin or cash balance as your default payment source
4. Add to your biller’s platform: Enter the provided account and routing numbers to your biller’s platform. If asked, select “checking” as the account type.

Micro-charge confirmations and bill limits

Some billers send an initial micro-charge to your account as a confirmation step. Any micro-charge or bill under $2 will always be charged to your cash balance, even if your default is set to bitcoin. If you have no cash balance, this may result in a temporarily negative cash balance, which you can remedy by making a cash deposit. Please note micro-charges can take a few moments to arrive and are only processed on business days.

The per-bill limit is $30,000, but you can pay as many bills from as many billers as you like.

What happens when a bill is charged?

Whenever your biller charges a bill to your account, Strike will automatically pay the bill using your selected balance.

• Default set to cash: The billed amount will be deducted from your cash balance to pay the bill.
• Default set to bitcoin: The corresponding amount of bitcoin will be sold and the proceeds will be used to pay the bill.

What if there are insufficient funds?

Strike will first attempt to pay your bill using the balance you selected as default during setup. If that balance is insufficient, Strike will use your alternate balance to cover any remainder. For example, if your default is cash but lacks funds, Strike will sell the necessary amount of bitcoin to cover the shortfall and ensure the bill is paid.

To avoid this, ensure your default balance maintains sufficient funds and keep these factors in mind:

• Recurring purchases: If you have a recurring bitcoin purchase set up, it may trigger before your bill arrives, reducing your cash balance and potentially triggering a bitcoin sale to cover the bill.
• Bitcoin auto-withdrawal: If you set up a bitcoin auto-withdrawal and your threshold is met, it will withdraw from your bitcoin balance, potentially leaving insufficient bitcoin for bills.
• Deposit availability: Strike only uses your available balance to pay bills, not pending deposits or funds reserved for target orders. Bank deposits can take 3-5 days to complete, so bills charged during this time could fail if funds haven’t yet arrived.
• Bitcoin price volatility: If your default balance is bitcoin, any price drops could leave your balance too low to cover a bill.

Taxes and documentation:

Paying bills from your cash balance is not considered a taxable event. However, paying bills with bitcoin is considered a taxable event since the required bitcoin is sold to cover the payment.

Come tax season, Strike will provide your necessary tax documents, including a summary of all bitcoin sales and bill payments from your bitcoin balance. The document includes a cost basis calculation for bitcoin bought and sold on Strike, using the HIFO method. If you use a different cost basis method or need to adjust for bitcoin acquired elsewhere, you can modify the document accordingly after it’s issued. You’ll be notified when your tax document is ready and you can access it within the Strike app by visiting your Account screen and selecting Documents.

Learn more about Strike bill pay or about all the ways you can go all in on bitcoin.