Twitter is expanding its Tip Jar (Tips) functionality with the option to send and receive funds using Bitcoin. Tips is meant to help users receive donations from followers, and is first being made available to iOS users. However, Android users are next on the list.
Twitter to Add Bitcoin as a Payment Method
This is the first case of a major social network encouraging its users to use cryptocurrency as a payment method. The company is also planning to enable users connect their crypto wallets and authenticate the ownership of NFTs they tweet with a special badge, TheVerge reported.
Twitter has been testing the tipping functionality for several months, but it hasn’t been made wide available. However, the wider availability became a fact this week, with the feature rolling out globally on iOS devices, with Android to follow. Nine traditional payment providers, such as Cash App and Venmo, will also be a payment option to accept tips. It is noteworthy that Twitter will not be processing the payments itself.
Many people already add links to their online payment profiles, but Tips will only make things easier, Twitter said. Once the Tips functionality is activated on a user’s account, a new button would appear in the profile providing access for others to send money via Bitcoin or the other options. Payments can be accepted via Bandcamp, Bandcamp, Cash App, Chipper, GoFundMe, Patreon, PicPay, Razorpay, Wealthsimple Cash and Venmo. The company will not charge or take any commission from the payments.
“When you enable Tips on your profile, you can now also add your Bitcoin address. People can copy your address and paste it into a Bitcoin wallet of their choice to send you a payment directly,” Twitter added.