Twitter launches Tips with bitcoin via Lightning Network

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It’s now official: Twitter has launched Tips, the in-app money sending feature that will use Bitcoin and Lightning network.

The feature is currently being tested on iOS, but will soon be available on Android. 

How to enable Tips

From the screenshots published by the official Twitter profile, the feature needs to be enabled. Once enabled, users can use the Tips function and choose to receive money on apps such as Cash App (linked to Square, also owned by Jack Dorsey). 

Or they can add their Bitcoin address so that the tips they receive arrive directly in the BTC wallet.

Twitter Tips
How to enable Tips on iOS

How to use Bitcoin and Lightning Network on Twitter Tips

Lightning Network will be used for Bitcoin tips, or more specifically Strike which is built on LN and offers free instant payments. 

At the moment Strike is only available to users in the United States and El Salvador. In order to receive bitcoin tips, users must have an account on Strike and add their username to the functionality. Users who want to send tips in BTC can do so with any wallet that supports the Lightning Network. 

Esther Crowford, Staff Product Manager at Twitter explained the decision to add bitcoin:

“We want everyone on Twitter to have access to pathways to get paid. 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”.

What Tips is for

Tips was created in response to the need of users, particularly creators, to have some form of reward for published content. This is why Twitter decided to enable this sort of payment system where a user can reward a creator for their tweets, or can organize a fundraiser without having to publish a new destination address. 

Tips is linked to a number of platforms including CashApp, GoFundMe, Patreon and Picpay.

Bitcoin becomes Twitter’s currency

The decision to introduce Bitcoin among the tips has excited the community. Anthony Pompliano immediately reported the news:

Michael Saylor also shared the breaking news:

With this breakthrough, Twitter will contribute to the massive spread of Bitcoin, which is now integrated into one of the leading social networks.

The news has been in the air for days, but now that it is official, all that remains is to see the impact it will have on the users of the social network. 

 

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