Twitter now allows users to tip with bitcoin

Twitter users on Apple iOS devices can now tip using bitcoin, but Android users must wait a few weeks

A smartphone displaying the Twitter logo                                 
Twitter application icon on Apple iPhone X smartphone – Photo: Shutterstock
                                

Twitter users on Apple iOS are now able to send bitcoin to other users using ‘Tips’. This new tipping feature means users can send the lead crypto to users’ “favourite accounts”, an “emerging comedy creator” or to “help a small business owner through a difficult time”.    

Esther Crawford, staff product manager at Twitter, explained this in a blog she wrote entitled Bringing Tips to everyone.

Crawford said: “Tips is here to help you do it.” The product manager further explained that people sometimes place links to their payment profiles in their bios and in their Tweets, so the function was created to make sending tips easier.

This function also allows you to link your Cash App, Patreon, Venmo, Chipper, Bandcamp, Razorpay, GoFundMe, PicPay and Wealthsimple Cash to your profile so that people using the social media platform can support other Twitter users.      

Crawford went on to say that Tips will be brought to users on Android devices over the coming weeks. She emphasised that Twitter takes no cut of the tips users send to other users, rather it facilitates the transaction for users of the platform. 

The Lightning Network

Users who are in El Salvador or the US (except for Hawaii and New York) will also be able to use ‘Strike to Tip’ with bitcoin. Strike is a payments application built on the Bitcoin Lightning Network that allows people to send and receive bitcoin.

Strike offers instant and free payments globally using bitcoin. Those who sign up to a Strike account and add their Twitter username can receive bitcoin tips over the Lightning Network. However, users will need the Lightning wallet to do this.

Crawford said: “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.”

Jack Dorsey and bitcoin

The CEO of Twitter, Jack Dorsey, has previously said that if he were not running the social networking site and commerce ecosystem company Square, he would be working to develop bitcoin.   

Dorsey himself tweeted on 17 August that he is trying out mining with Compass Mining, which hosts, supplies and operates cryptocurrency mining rigs. The company’s slogan is “now everyone can mine bitcoin” and its aim is to help “people learn, explore and mine bitcoin”.

Back in July, Square announced it will be launching a platform for developers to create decentralised finance (DeFi) projects built on the Bitcoin blockchain.

At the time, Dorsey tweeted that Square “is creating a new business focused on building an open-developer platform with the sole goal of making it easy to create non-custodial permissionless and decentralised financial services.”

Further reading: Snoop Dogg claims to be behind NFT Twitter account

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with crypto or fiat
iMac Image