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Strike vs. Unchained: Lightning payment leadership, custodial throughout.

Last reviewed Common questionsMethodology

About Strike

TradingWhite GlovePaymentsLoans

Strike is a financial services company founded in 2019, focused on bitcoin and the Lightning Network. It operates in 95+ countries and supports buying, selling, sending, and receiving bitcoin, plus US dollar bill payments, direct deposit, and bitcoin-backed loans launched in May 2025. Strike is custodial: client bitcoin is held by Strike. In April 2026, Tether proposed a three-way merger of Strike, Twenty One Capital, and Elektron Energy; the deal is pending shareholder vote and SEC review.

Who each is for

Strike is for

Clients who want Lightning-speed bitcoin payments, low-fee buying at any size, and bitcoin-backed loans starting at $10,000 across 95+ countries.

Unchained is for

Holders who want direct cryptographic custody of their bitcoin, with loans only against collateral they continue to verify on-chain.

Strike
Unchained
Trading fee
Volume-tiered. 0.99% under $250/month, scaling down to 0.39% above $15M/month.
1.00% standard tier. 0.75% Signature tier.
Minimum purchase
$1
$2,000
Recurring / DCA
Zero-fee after the first week on hourly or daily schedules, and after the first purchase on weekly or monthly schedules.
Not offered
OTC / large trades
Strike Private (eligibility-based).
Primary buy channel for all vault clients.
Settlement
Into a Strike custodial balance.
Into your multisig vault.
Custody model
Not applicable
Collaborative multisig
Key distribution
Not applicable
Client holds 2 keys, Unchained holds 1 key.
Default structure
Not applicable
2-of-3
Other configurations
Not applicable
Quorums up to 15-of-16 are supported on the Signature tier. Connections allow sharing keys with trusted parties.
Recovery if a key is lost
Not applicable
Loss of 1 key is recoverable. The remaining 2 keys still meet the 2-of-3 threshold.
Hardware wallets
Not applicable
Ledger, Trezor, Coldcard, BitBox, Blockstream Jade
Annual cost
Not applicable
$250/year per vault
Default process
Not applicable
Executor locates 1 client key and contacts Unchained with the Inheritance Protocol documents.
Heir technical knowledge required
Not applicable
No bitcoin knowledge required. Executor follows written instructions.
Waiting period
Not applicable
None
Executable without company involvement
Not applicable
Yes. The client's 2 keys remain operable independently of Unchained.
Cost or included tier
Not applicable
Included with Signature. Protocol materials are also available separately.
Account types
Not applicable
Traditional, Roth, SEP
Key control
Not applicable
Client holds 2-of-3 keys in a dedicated IRA vault.
IRA custodian
Not applicable
Fortis Bank (Colorado-chartered, FDIC-supervised)
Account minimum
Not applicable
No minimum balance. $2,000 minimum per trade.
Trading fee
Not applicable
1.50% per trade
Annual fee
Not applicable
$250/year per IRA vault
Payments
✓
✕
Lender of record
Strike (direct)
Unchained (direct lender)
Eligible borrowers
Individuals in select US states and some international markets.
Business entities only (LLC, corporation, single-member LLC)
Minimum loan
$10,000 in the US. $5,000 in some international markets.
$150,000
Interest rate
From approximately 7.49% APR for $5M+ down to approximately 10.5% APR under $250,000.
12.0%
LTV at origination
50% at origination. Margin call at 70% LTV. Liquidation at 85% LTV.
50% at origination
Collateral custody during loan
Strike holds all collateral keys.
Unchained and Fortis Bank each hold one key, which prevents any party from moving bitcoin unilaterally.
RIA
✕
✓
DAF
✕
✓
Trust entity
Not applicable
Gannett Trust Company, LLC
Jurisdiction / charter
Not applicable
Wyoming (chartered May 2025)
Services offered
Not applicable
Personal trust administration, corporate bitcoin treasury, qualified custody, dynasty trusts, and inheritance and estate planning.
Key control
Not applicable
Client-directed. Supports both collaborative custody and qualified custodian configurations.
Minimum assets
Not applicable
Not disclosed
Tier name
Strike Private
Signature
Annual cost
Eligibility-based. No published fee.
Personal: $6,000 first year, $4,500 renewal. Business: $7,500/year.
Dedicated contact
Private client relationship.
Dedicated relationship manager with same-day emergency support.
Included services
OTC desk access and concierge support.
Vault setup, 2 premium hardware wallets, security reviews, ongoing education, and inheritance setup.
Founded
2019
2016
Client funds lent
Bitcoin is held custodially. Loan collateral is held by Strike.
Not applicable. No client funds are held, and loans are not rehypothecated.
Proof of reserves
Not disclosed
Not applicable. The client holds their own keys, verifiable on-chain.
SOC certifications
Not disclosed
SOC 1 Type II and SOC 2 Type II
US availability
Most states
Most states (varies by product)
International availability
Yes. 95+ countries.
No

Common questions

No. Strike holds all client bitcoin keys. Clients can withdraw bitcoin to an external wallet on-chain, but bitcoin inside a Strike account is custodial. Unchained clients hold 2 of 3 keys directly.
Strike has the lower minimum ($10,000 versus $150,000) and lower rates (down to ~7.49% APR at high tiers versus Unchained's 12.0%). Strike loans are available to individuals; Unchained loans are originated to business entities only since January 2024. The structural difference is collateral custody: Strike holds all collateral keys; Unchained borrowers hold 1 of 3 keys and can verify collateral on-chain throughout the loan.
No. Unchained is a custody and financial services company, not a payments company. Strike's Lightning infrastructure is significantly more developed for instant, low-cost bitcoin transfers and dollar-denominated payments.
Yes, and many clients do. Strike is purpose-built for everyday Lightning payments and low-fee bitcoin accumulation — it is one of the most practical on-ramps available. Unchained is purpose-built for long-term cold storage with client key control. A common pattern is to use Strike for spending, tipping, and recurring buys, then periodically withdraw larger amounts on-chain to an Unchained vault for secure long-term storage. The two products are complementary rather than competing.

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About this guide

These comparisons are maintained by Unchained. We have tried to represent every service accurately and fairly, and where another service does something well that Unchained does not, we say so. Unchained appears as the reference point throughout because every page is built around a single question: how does this service differ from Unchained? That framing is why Unchained is more prominently featured, not because we consider it the default right answer for every reader.

Disclaimer: Unchained's product and service availability may vary by state. Nothing on this page is investment, tax, legal, or financial advice. Investment advisory services are offered only through Gannett Wealth Advisors. Consult your own advisors before making any financial decision. All financial products involve risk, including loss of principal. Bitcoin is volatile, and past performance does not guarantee future results.

This comparison is provided for informational purposes only and is current as of May 2026. Information about other companies is compiled from publicly available sources, including each company's documentation, regulatory filings, terms of service, and third-party reviews. Offerings, fees, terms, and state availability change frequently and may have changed since publication. Verify all information directly with each company before transacting.

References to other companies are for comparison purposes only and do not imply endorsement, partnership, sponsorship, or affiliation. All third-party names and marks are the property of their respective owners and are used for identification only. Reviewed quarterly; corrections will be addressed within five business days. If you represent a company listed here and/or believe information is inaccurate, fill out a feedback form.

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