Questions about using strike with a ledger nano s and fees...

Neon_Meat_Dreams
0
0

Questions about using strike with a ledger nano s and fees...

Okay so a little backstory. I'm new to cold storage and still trying to familiarize myself with all the details. I've used exchanges so far. (robinhood, voyager, ftx) Feels like I've managed to make every mistake possible, but still lucky enough not to have lost anything to the exchanges. Earlier today I finally got around to moving my bitcoin from ftx to my ledger. I went through the whole process of setting up the ledger and whatnot for the first time. It was easier than I thought it would be and I'm glad everything is in cold storage and not on the exchanges anymore. I'm feeling pretty relieved right now!

Going forward I plan on buying with strike and sending to my ledger. I did a test and sent a small amount of bitcoin from strike to ledger. About 40 cents worth of bitcoin, but then in ledger live the transaction shows there was a fee of about $2.40. So I'm confused what exactly the fee is. I thought with strike there would be no fee. I'm assuming the $2.40 fee is a mining/gas fee? (not really sure if those are the right terms) I thought that was avoided because strike uses the lightning network. Or is it a fee that ledger live is charging me?

Is there a way to avoid or reduce this fee when I send bitcoin from strike to ledger?

And then in the future if I wanted to move bitcoin from the ledger back to strike is there going to be another similar fee and can it be avoided?

Right now I just use bitcoin as an investment/store of value. I don't plan on selling for the foreseeable future. In the future if I want to start using it for daily purchases, say something small like a drink at the gas station, how would you recommend going about that? Say I get something like the strike card. I don't think it's released yet, but this is a hypothetical. So I use my strike card to pay for a 99c can of arizona tea. Is strike going to pass along a $2.40 gas/mining fee to the gas station because I bought the tea?

Anyway, I'm trying to get a better understanding of how it all works when it comes to fees. Hopefully this all makes sense. Any info you have that can clear things up for me would be great! thanks!