Living on Bitcoin in the US

August 2023 Last Updated: August 2023

The United States offers unique advantages for living on a Bitcoin standard, particularly through innovative services like Strike's bill pay feature. This guide will show you how to leverage these tools for a seamless Bitcoin-native lifestyle.

Strike's Bill Pay: Your Gateway to Bitcoin Living

Strike has revolutionized Bitcoin living in the US by enabling direct bill payments from your Bitcoin savings. Here's how to utilize this game-changing feature:

  1. Download Strike and complete KYC verification
  2. Connect your bills through the bill pay feature
  3. Set up automatic payments using Lightning Network
  4. Pay major utilities, credit cards, and loans directly with Bitcoin

Key Strike Features

  • Zero fees for bill payments
  • Instant Lightning Network transactions
  • Direct deposit integration
  • Automated payment scheduling

US-Specific Bitcoin Strategy

A simple, effective Bitcoin living strategy in the US:

  • Use regular credit cards for all day-to-day spending (earning points/cashback)
  • Pay off credit card bills monthly through Strike's bill pay feature
  • Set up direct deposit to Strike for automatic Bitcoin conversion
  • Keep your Bitcoin secured in cold storage until needed for payments

Tax Optimization

  • Annual tax harvesting up to $3,000 in losses
  • Long-term capital gains rates (hold > 1 year)
  • Self-directed Bitcoin IRAs for tax-advantaged saving
  • Keep detailed records using tools like Koinly or CoinTracker

Daily Living Strategy

Monthly Bill Management

Simplify your Bitcoin living strategy with this approach:

  1. Use credit cards for all daily purchases (maximize rewards/points)
  2. Pay all credit card bills through Strike's bill pay feature
  3. Set up automatic bill payments on fixed dates
  4. Track Bitcoin spending through Strike's reporting features

Emergency Fund Strategy

Maintain financial security while staying Bitcoin-native:

  • Keep 3-6 months of expenses in stablecoins on Strike
  • Set up automatic conversion schedules
  • Use multiple Lightning channels for redundancy
  • Maintain relationships with multiple Bitcoin-friendly banks

US Banking Integration

  • Bitcoin-friendly banks: Silvergate, Signature
  • Credit unions supporting crypto transactions
  • Multiple fiat on/off ramps
  • ACH backup payment options

Investment Considerations

Optimize your Bitcoin position within US regulations:

  • Bitcoin ETF options for retirement accounts
  • Self-directed IRA structures
  • Trust and estate planning with Bitcoin
  • Business integration strategies

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Conclusion

The US offers unique advantages for Bitcoin living through services like Strike's bill pay and a maturing ecosystem of Bitcoin-native financial services. With proper planning and the right tools, maintaining a Bitcoin standard lifestyle is increasingly practical for US residents.