If you want a blue tick by your name, you'll have to pay $8 a month.
The social media site was taken over by Mr Musk and he said it was essential to defeat the scam.
There is a blue tick mark next to a usernames.
Critics say the move could make it more difficult to find reliable sources.
Mr Musk said that paid users would have priority in replies and searches and that half the advertisements would be paid for.
It's power to the people. The billionaire criticized the method of blue tick verification as a "lords and peasants system".
A short online application form was used to verify users for a blue tick, but it was only used for people who were targets for impersonation.
Some companies are concerned about advertising on the site under his leadership but he wants to reduce it.
Last week, General GM said it was suspending advertising on the site.
On Monday, one of the world's biggest advertising companies, IPG, advised its clients to suspend their ads on the social network for a week, citing a need for more clarity on the platform's plans to ensure trust and safety. Billions of pounds are given by some of the world's biggest brands to handle their marketing budgets.
The charge for blue tick privileges drew skepticism after it was reported that it would cost $18 a month.
The statement of author Stephen King was echoed by many on the platform.
Mr Musk is facing a challenge as he works to improve the fortunes of his company.
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