Saturday, October 1, 2022

Twitter’s Tip Jar To Accept BTC And ETH Payment

Microblogging platform Twitter has been enhancing its Tip Jar feature to integrate Bitcoin and Ethereum payment options with it. The aim behind this development is to help the content creators in monetizing their content.

A few days ago, an Italian developer Alessandro Paluzzi shared a screenshot of Tip Jar and stated, “Twitter is working on allowing users to add Bitcoin and Ethereum addresses to their profiles to receive tips via the Tip Jar feature.”

Recently, the product lead of Twitter Kayvon Beykpour has also confirmed the news of Tip Jar’s development but he did not elaborate much. 

Notably, the screenshot shared by Paluzzi signals that Twitter is considering using The Lightning Network, a payment transfer technology, for receiving tips in cryptocurrency.

Twitter introduced the Tip Jar feature on its platform in May 2021. While rolling out the feature, the microblogging platform announced that the users can use a number of payment gateways like Bandcamp, Patreon, PayPal, Venmo, and CashApp to process the payment. The platform further mentioned that it also collaborated with the Indian payment gateway Razorpay for the same.

If a person wants to send money to the content creators, he/she can go to their profile, click on the Tip Jar icon, select the modes available for processing the payment and complete it. 

When Twitter introduce this Tip Jar feature, it clearly stated that it won’t be making any cuts from the amount send or received by the users.

By adding the cryptocurrencies option to Tip Jar, Jack Dorsey, the CEO of Twitter, has once again shown that he is a great supporter of digital assets. 

In February, Dorsey announced that he and rap mogul Jay-Z were developing a fund, whose aim was to make bitcoin digital money “the internet’s currency.” 

The CEO of Twitter also tweeted that he and Jay-Z decided to donate 500 Bitcoins to fund an independent endowment called “Btrust.”

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