There is some good news for Crypto enthusiasts on Twitter. The social media platform issued a statement Thursday. It said that users can now fund their favorite influencers on Twitter using BTC. You heard that right
In May, Twitter introduced this tipping feature to try out new methods creators can earn rewards from their followers.
In their recent announcement, the social network announced that the tip would launch globally first to iPhone users and Android in the following weeks. Availability on Desktops is yet to be clarified by the company.
Additionally, users will set their BTC Addresses in the added Strike Wallet service. So in simple terms, this new feature links Bitcoin and LN addresses. Following the announcement, Jack Mallers posted a video on Twitter showing followers how the service works.
Before this significant announcement, content creators on Twitter received fiat currency tips through Venmo and the Cash app.
It will be mandatory for Twitter users to receive funds through the Strike App Programming Interface. Despite this, they are allowed to send funds from any BTC address.
In addition, Twitter revealed a new experiment in the works- A feature that would authentically showcase their users’ Non-Fungible token collection.
There were no comments on this experimental project, except that it supports the users that post Virtual art projects.
Their Spaces’ live audio creators were also not left out. Twitter launched Spaces last year. A platform that allows users to listen to and message fellow members. Twitter says they will also get creator funding.
The advantage of this project is that Twitter will not charge a commission on any transactions made. The company says that except for Bitcoin and the Lightning network, service availability in the users’ locations will affect many payment solutions of this tipping feature.
This announcement doesn’t come as a shocker because Twitter CEO Jack Dorsey is always vocal about his support for BTC.
Besides mining Bitcoin, Dorsey has praised the BTC Crypto several times, claiming that he believes it will bring world peace.
What is Bitcoin?
Bitcoin is a digital/virtual currency that uses peer-to-peer payment and has no centralized authority. This means that BTC is not subject to governmental policies on funds.
The price of Bitcoin is currently $44,832.02. This price fluctuates depending on a few factors like;
This year Bitcoin has seen ups and downs after Tesla rejected its acceptance as a mode of payment. China also banned the mining of Cryptocurrency. Both gave one similar reason: Climate Change.
The blockchain, just like others, is working on going green. However, a research paper recently posted by the New York Digital Investment Group tries to defend Bitcoin.
Despite price fluctuations, the paper states that BTC’s energy consumption will remain as low as 0.5% in the next decade.
In summary, this major announcement states that Twitter allows free and instant global payments with fiat and BTC. Another historic step by Bitcoin after El Salvador’s recent adoption of the coin as a mode of payment. BTC’s future seems bright.