Cryptocurrencies have really become mainstream nowadays, thanks to the ever-increasing popularity fuelled by businesspersons such as Elon Musk and Mark Cuban.
It’s getting so popular that some countries such as El Salvador have made Bitcoin its official currency while some countries, such as China are completely banning it.
Seeing this upsurge in the popularity of Cryptocurrencies, Twitter has decided to jump in and is now allowing its users to tip each other using Bitcoins.
Initially called Tip Jar. Tips on Twitter has been updated with its global availability. Twitter said in a press briefing on Thursday that the feature will start rolling out to users around the world on iOS first and then to Android over the coming weeks.
This would allow Twitter users to add their Bitcoin addresses to their Twitter profile, which could be used by people to tip them by clicking the monetization icon next to the follow button; this copies the bitcoin address to the clipboard which can then be pasted into any bitcoin wallet of their choice to facilitate the transfer.
The company also plans to let users connect to their crypto wallets and authenticate the ownership of NFTs they tweet with a special badge.
This comes after, CEO Jack Dorsey called Bitcoin a “big part” of its future in a conversation with investors and analysts, suggesting its implementation back in July 2021. He also sold one of his first tweets as an NFT.
This isn’t the first time a social media platform has done this.
Dogetipbot was a cryptocurrency transaction service used on popular sites like Reddit and Twitch. It allowed users to send Dogecoins to other users through commands via Reddit comments.
In May 2017, Dogetipbot was discontinued and taken offline after its creator declared bankruptcy; this left many Dogetipbot users losing their coins stored in the Dogetipbot system.
Overall, it’s a very good system that can be used to monetize Twitter users, while attracting new users to the platform and reliving Twitter from the cost of monetization because it’s a user-based tipping system.
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