Twitter Enables Tipping with Bitcoin

Twitter Enables Tipping with Bitcoin

Twitter enables tips with Bitcoin. In addition, it plans to allow authenticating user NFTs. Keep reading to find out all the details. Read on!

Twitter enables tips with Bitcoin. In addition, it plans to allow authenticating user NFTs. Keep reading to find out all the details. Read on!

In early May, the "what's going on" social network introduced Tip Jar, a new way to send and receive tips to support the incredible voices that make up conversations on Twitter.

Now, a new update includes the possibility for that tip to be given in Bitcoin, making the platform the first major social network to encourage the use of cryptocurrency as a payment method.

In response to the news, in addition, the price of the world's largest cryptocurrency once again passed the line of $44,500 per unit after having fallen below $40,000.

Now, a new update includes the possibility for that tip to be given in Bitcoin, making the platform the first major social network to encourage the use of cryptocurrency as a payment method.

In addition to Bitcoin, Twitter will allow users to connect nine traditional payment providers, such as Venmo and Cash App, to their profiles to accept tips. However, it is not in charge of processing such payments: instead, tips in Bitcoin will be facilitated by Strike, a virtual wallet that runs on the Lightning Network protocol designed to allow faster and cheaper transactions with Bitcoin.

The app will notify someone when they receive a tip in Bitcoin via Strike, allowing the user to respond quickly to thank or react with an emoji, and will generate invoices for creators to keep track of the tips they receive.

On the other hand, since non-fungible tokens (NFTs, are unique digital goods ranging from works of art to video game assets) recently gained popularity as a way to buy and exchange digital art on the chain of Ethereum blocks, Twitter also plans to authenticate users' NFTs by allowing people to connect their crypto wallets.

The app will notify someone when they receive a tip in Bitcoin via Strike, allowing the user to respond quickly to thank or react with an emoji, and will generate invoices for creators to keep track of the tips they receive.

"There is growing interest among developers to use applications that run on the blockchain," said Esther Crawford, Twitter's product executive. "We want to help creators participate in the promise of an evolving decentralized internet directly on Twitter."

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