Twitter to permit receiving tips in Bitcoin

Bitcoin transactions are going to get added by Twitter for its ‘Tip Jar.’

Bitcoin transactions are going to get added by Twitter for its ‘Tip Jar’ which enables content creators to monetize their content.

After a user called Alessandro Paluzzi posted a screenshot showing how the users will be allowed to receive tips through Bitcoin the development has been confirmed by Twitter’s product lead Kayvon Beykpour. While Beykpour didn’t elaborate on the subject, Paluzzi’s screenshot signals that Twitter is considering The Lightning Network, a payment transfer technology for tips in Bitcoin.

In May the tip jar feature got rolled out by the Microblogging platforms, through several payment gateways like Bandcamp, Patreon, PayPal, Venmo, and Cash App. An Indian payment gateway Razorpay for the same has been also added.

Following steps can be followed to send someone money :

  • Simply go to the person’s profile.
  • Click on the tip jar icon.
  • Select from the available modes of payment and complete your payment.

Twitter has also made it clear that the company takes no cut from the amount you send or receive. While Tip Jar appears as an icon on iOS and Android, the feature can also be accessible within Spaces on Android only.

Enthusiasm for cryptocurrencies has been displayed again by Twitter CEO Jack Dorsey. Twitter CEO Jack Dorsey has time and again displayed his enthusiasm for cryptocurrencies. Bitcoin changes everything for the better while retweeting the CFO of Square Amrita Ahuja’s post reiterating the company’s Bitcoin strategy.

In February Dorsey who is also the founder and chief of financial services and mobile payments firm Square had put out the word that he and rap mogul Jay-Z were creating a fund devoted to making bitcoin digital money “the internet’s currency.” In a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called “B trust.”

On Monday Bitcoin jumped over $51,000 taking the market capitalization over $975 billion.

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