Twitter’s Now Letting Users Tip One Another In Bitcoin

Twitter is embracing the blockchain.

As it rolls out its user-to-user tipping feature–creatively called Tips, renamed from working title Tip Jar–to every user over 18, Twitter said it has begun allowing people in the U.S. and El Salvador to send one another tips in Bitcoin.

“We want everyone on Twitter to have access to pathways to get paid,” Twitter said in an official blog post. “Digital currencies that encourage more people to participate in the economy and help people send each other money across borders with as little friction as possible–help us get there.”

Subscribe for daily Tubefilter Top Stories

Subscribe

Twitter is accepting Bitcoin tips via cryptocurrency payments platform Strike. Selecting the option to pay in Bitcoin will open Strike, and folks can then use any digital wallet with access to the Bitcoin Lightning Network–a super fast, fee-free network for processing Bitcoin transactions–to send a tip.

Strike does not charge a transaction fee; Twitter, meanwhile, has said it will not take a cut of Tips at all, whether they’re paid in crypto or traditional currency–so any funds sent to creators will actually 100% go to those creators.

Twitter does warn, though, that Bitcoin’s conversion rates will fluctuate, so if a user sends a $5 tip, it’s possible

the recipient might get, say, $4.98, or $5.05, depending on market activity. One Bitcoin, for those curious, is currently worth a whopping $42,893 U.S. (But by the time you read this, it might not be.)

Strike isn’t the only new addition to Tips: Twitter has also added crowdfunding site GoFundMe and Brazil-based PicPay. They join the numerous services already linked to Tips: Bandcamp, Cash App (developed by Square, Inc., which was cofounded by Twitter CEO Jack Dorsey), Chipper, Patreon, Razorpay, Wealthsimple Cash, and Venmo.

Twitter is also eyeing NFTs

While this is Twitter’s first dip into the crypto ecosystem, it likely won’t be the last.

In a Sept. 23 call about Tips and similar monetization efforts, Twitter’s product lead for creator monetization Esther Crawford said the platform is exploring the blockchain beyond Bitcoin.

“We’re excited to soon explore NFT authentication,” she said, per Mashable. “It’s a way to support creators making this art with a stamp to demonstrate authenticity.”

Twitter intends to build ways for people to “directly connect their crypto wallets [so] they can track and showcase their NFT ownership on Twitter,” Crawford explained.

“We’re basically just making it visually clear that this is an authenticated avatar and then give you some interesting info and insight about the provenance of that NFT,” she said, which seems to indicate Twitter wants users to flex their NFT ownership by using tokens they own as their user icons.

Share
Published by
James Hale

Recent Posts

Spotify’s New Shopify Integration Lets Artists More Seamlessly Sell Merch

Ecommerce platform Shopify has announced a new integration with music streamer Spotify to propagate merch…

13 hours ago

MrBeast, Emma Chamberlain Top-Nominated Creators At 2021 Streamys

That invigorating chill in the air can only mean one thing: Streamys season is officially…

14 hours ago

Shifting Focus Within YouTube’s ‘Trusted Flagger’ Program Has Angered Some Participants

There’s some consternation afoot within YouTube’s Trusted Flagger program, which the video giant launched in…

15 hours ago

Creators On The Rise: Thanks To YouTube, Walt Disney And MTV Animator Patrick Smith Can Go Indie Full-Time

Welcome to Creators on the Rise, where—in partnership with global creator company Jellysmack—we find and…

20 hours ago

TikTok Spotlights Most Influential Creators Of 2021 In First Annual ‘Discover List’

Looking back at 2021, TikTok turned a spotlight on 50 of its most influential creators…

2 days ago

YouTube To Host Weeklong Holiday Shopping Event With The Merrell Twins, Walmart, More

YouTube shared some social commerce news during its keynote presentation today at Advertising Week featuring…

2 days ago