Twitter to Embed Bitcoin Tipping Facility
Twitter’s social media platform seems to be introducing the option to tip utilizing Bitcoin. According to several reports, Twitter is presently investigating the possibility of tipping content providers on the social networking site using Bitcoin. According to reports, the new functionality would make use of the Bitcoin Lightning app Strike. As per MacRumors, the feature is included in Twitter’s most recent beta version. According to the MacRumors article, Twitter content providers will get their Bitcoin via the “Tip Jar” function.
Interestingly, Bitcoin is not yet accessible as a tipping tool for beta users. According to MacRumors, coding in the beta indicates that Twitter is focusing on releasing the Bitcoin tip tool for beta users. Twitter launched the Tip Jar in May, describing it as “a novel process for users to take and give tips.” As per the release, the Tip Jar was created to make it simpler for users to give or accept tips through chosen payment methods.
Twitter listed five payment systems that are backed by the new functionality in its release. PayPal, Venmo, Bandcamp, Cash App, and Patreon are among them. Just after a comment on the crypto behemoth by CEO Jack Dorsey, the firm seems to be making progress on integrating Bitcoin to the Tip Jar.
Back in the summer, the CEO assured investors that Bitcoin would play a “significant role” in the company’s growth. “So I believe it’s extremely essential to Twitter and to Twitter stakeholders that we are monitoring the sector and invest actively in it,” Dorsey stated in a press statement.
One of the businesses having Bitcoin on their financial statements is Square, which another company owned by Jack Dorsey. Square has meanwhile revealed intentions to create a Bitcoin digital wallet. According to the most recent Twitter beta, there will be a lesson for visitors to learn about the Bitcoin Lightning Network.
Twitter will also notify users about both custodial and non-custodial Bitcoin wallets. Twitter’s custodial wallets is of three kinds namelyWallet of Satoshi, Blue Wallet, and Strike. Likewise, non-custodial wallets will also be made available in three forms namely Muun, Phoenix, Zap, and Breez.
#Twitter is working on the ability to receive tips in #Bitcoin 👀 pic.twitter.com/uycD3qsR5F
— Alessandro Paluzzi (@alex193a) September 1, 2021
— Kayvon Beykpour (@kayvz) September 1, 2021
Further to Twitter’s claims about the new Bitcoin tip, mobile app dev Alessandro Paluzzi recently released a picture of the latest facility. The picture backs up MacRumors’ claim that Twitter would work with Bitcoin Lightning app Strike to provide the functionality.
As a result, in order to get BTC tips, users must have a Strike registration. A portion of the image released included instructions for establishing a Strike wallet:
“Because we utilize Strike to create Bitcoin lightning bills, you must link your account in order to receive Bitcoin tips.” On the first day of this month, the smartphone developer shared the picture on Twitter. Kayvon Beykpour, Twitter’s product head, seemed to corroborate the news when he cited Paluzzi’s post with lightning and “soon” emojis.
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.