Twitter Users Can Now Get Paid in Bitcoin, But Not Ethereum
Twitter users with IOS devices will now be able to send and receive tips in bitcoin via the Lightning network, the company said.
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key takeaways
- Twitter confirmed rumors that it would be launching a bitcoin tipping function
- The feature will roll out to Apple IOS users first and to Android users in coming weeks
Twitter confirmed rumors Thursday that users will be able to tip each other in bitcoin via the Lightning network.
The program, called Tips, will roll out globally to Apple IOS users first. Android users will be able to access the feature in coming weeks.
“People already drop links to their payment profiles in their bios and in their Tweets,” Esther Crawford, staff product manager at Twitter, wrote in a blog post, Thursday. “Tips makes this easier to do, offering one fixed spot, right on your profile, where you can link to your Cash App, Patreon, Venmo and other platforms where people can support you.”
Speculation that Twitter would be launching the feature began earlier this month when leaked IOS screenshots showing beta build plans circulated.
Users will be able to tip with bitcoin through the Lightning network, a layer-2 payment protocol known for its low transaction fees. Twitter will not collect a fee for transactions made over Tips.
While earlier speculation included talks of an ether tipping option, Twitter’s Thursday announcement did not mention any cryptocurrencies other than bitcoin.
Twitter also announced plans to expand into the non-fungible token space and create a platform that allows users to authenticate and display NFT collections. No formal plans have been outlined yet.
We want everyone on Twitter to have access to pathways to get paid. Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible — help us get there,” said Crawford.
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