Twitter Allows Bitcoin Tipping, Becomes 1st Social Platform To Embrace Crypto

Twitter is now jumping on the cryptocurrency train. Now, the social networking giant is allowing people to ask for tips in bitcoin through its application.

With this, Twitter becomes the first major social network to endorse the use of cryptocurrency as a valid method of transactions

Twitter wants to take crypto to the next level

That’s not all! Twitter wants to take crypto recognition to another level. The Verge reported that the company is also planning to let users link their crypto wallets to Twitter and to introduce a method to allow users to verify their ownership of NFTs using a special badge. 

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Also read: Twitter Coughing Up Over $800 Million To Settle Lawsuit For Investor ‘Fraud’

Over the last few months, Twitter was testing its tipping mechanism, which it only made available to a few users starting Thursday. Currently, iOS users have received the update and the same update for Android is expected to come through soon

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For the bitcoin tips, a wallet application called Strike will be used. It runs on the “Lightning Network” protocol which is designed to allow faster transactions using bitcoin

Also read: Twitter Is Testing A Feature That Would Allow Users To Flag Misleading Content

In fact, the company behind the Lightning Network received funding from Twitter CEO Jack Dorsey, who has supported cryptocurrency from the start.

Currently, Strike works only in the United States. But as crypto becomes the norm, such applications are expected to expand their coverage. 

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Besides letting users know that they’ve been tipped, Twitter will let all users respond to the tipper and an invoice will be issued to track tips.

Twitter is also planning to allow users to authenticate their ownership of NFTs on the platform, which will be displayed in the form of a badge. 

Do you think Twitter’s bold move could help standardise the acceptance of bitcoin? Let us know in the comments below. For the latest in the world of science and technology, do not forget to check out Indiatimes.com.