Twitter Encourages Cryptocurrency As A Method of Payment Allow Users To Tip Creators Using Bitcoin
Twitter is apparently the first major social media platform that is encouraging the use of cryptocurrency. This is because the microblogging site has now allowed users to tip their favorite creator using Bitcoin. The company introduced the Tips feature earlier this year. The feature so far has allowed users to pay tips to their favorite creators via third-party payment services and platforms. The feature was initially made available to a small group of iOS users in the United States. But it has now been expanded globally. Moreover, the company is also adding more payment services.
Tips, which was initially called Tip Jar, will be soon rolled out for all users. Twitter has not fixed any date but has confirmed that the feature will be first made available to users on the iOS platform and later on for Android users. While initially users were allowed to tip with fiat currency with the help of more traditional payment services such as Venmo and Cash app. The company is now integrating Strike Bitcoin lighting wallet which will allow creators to receive tips in Bitcoin. Twitter said that it would allow users to add their Bitcoin address to the profile and then receive or send these cryptocurrency tips.
It is pertinent to mention that the microblogging site does not take a cut on the amount sent through this feature. The step to integrate Bitcoin is not at all surprising considering the fact Twitter chief executive officer Jack Dorsey has been one of the most vocal supporters of cryptocurrency. Dorsey even tweeted that he is trying his hand at Bitcoin mining. Dorsey said that he doesn’t find anything more important than working on Bitcoin. Additionally, Twitter has been working on recognizing Non-Fungible Tokens or NFTs. This will allow users to authenticate their collections of NFT on the social media platform. Besides, Twitter has also announced that it would soon launch creator funds for those who host Spaces audio rooms.
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