Twitter has made it possible to request tips in Bitcoin via its app. This makes Twitter the first social network to allow users to use the cryptocurrency to pay for goods and services. It plans to allow users to connect their crypto wallets, and enable them to authenticate ownership of NFTs by tweeting with a badge.
Twitter has been testing tipping over the past few months, but has not made it widely available to the public until Thursday. The feature will be rolling out globally on iOS, with Android to follow. Twitter users will be able to connect nine traditional payment providers to their profiles in order to accept tips. Twitter does not process the payments.
Strike is a Bitcoin wallet application that uses the Lightning Network protocol to facilitate Bitcoin tips. Lightning was created to make Bitcoin transactions faster and more affordable. It has been funded by Jack Dorsey (Twitter CEO), a strong Bitcoin advocate who tweeted that it was only a matter time before Twitter supports payments via the protocol.
Strike is available in all US states, except New York and Hawaii. It also works in El Salvador. Twitter users can now add their Strike usernames to their profile. They can also copy and paste their Bitcoin addresses into their crypto wallets of choice in order to send tips.
Twitters app will notify an individual when Strike sends them a Bitcoin tip. They can quickly reply to the tipper and say thanks, or send an emoticon reaction. Twitter will generate invoices that creators can use to track tips received. Bitcoin is one of the most effective solutions to allowing people to transact within underbanked areas of the world, Esther Crawford (product lead for creator monetization at Twitter) said during a conference call with reporters.
Twitter's crypto plans don't stop at Bitcoin. The company also stated that it will support NFTs (or non-fungible tokens) authentication by allowing people to connect their crypto wallets. A company spokesperson stated that NFT authentication will be in the form a badge on profiles, which would mark the NFT owners as authentic.
Recently, NFTs have been gaining popularity as a means to trade and buy digital art on Ethereum blockchain. The main Twitter account offered NFTs for free on Rarible, a marketplace that minted them.
