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I was watching Strike's announcement that their API can transfer money by converting from fiat money to BTC, transferring that over the Lightning Network and converting back to fiat at the merchant. The video is here https://youtu.be/o73fWsqJDdY?t=304

But given the spread when buying and selling BTC, how is this possible? Won't the consumer have to spend more to buy the BTC that will then be converted back to fiat at the merchant?

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Their FAQ makes it clear they mean no added fees. Their customers do pay any Bitcoin or Lightning fees.

Others have suggested that, to pay its employees, shareholders etc, Strike (Zap Solutions Inc) earns money from running Lightning nodes and from the spread between buying and selling prices it offers to its customers.

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  • So that means, because of spread, if I was to use Strike to buy something in dollars for 10 dollars, I'd have to spend more than 10 dollars....or am I missing something? Im struggling to see why this is a good proposition...
    – Mark
    Apr 27 at 21:06

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