- Reports revealed that Twitter is about to add Bitcoin to its Tip Jar.
- According to the reports, the social media company would be using Bitcoin Lightening Network to support the new feature.
It appears social networking service Twitter is adding the ability to tip using Bitcoin. Multiple reports showed that Twitter is currently exploring tipping content creators on the social media platform with Bitcoin. Reportedly, the new feature will use the Bitcoin Lightning app Strike.
Twitter to include Bitcoin to Tip Jar
According to MacRumors, the service comes with the latest beta update on Twitter. The MacRumors report stated that Twitter content creators will receive their Bitcoin through the “Tip Jar” feature.
Notably, Bitcoin is currently not available as a tip option for beta users. However, MacRumors said that code in the beta shows that Twitter is working on launching the Bitcoin tip option for beta users. In May, Twitter introduced the Tip Jar – “a new way for people to send and receive tips.” The purpose of the Tip Jar, according to the announcement, was to provide an easier way for users to send or receive tips via selected payment services. In the announcement, Twitter mentioned five payment platforms that are supported by the new feature. They are PayPal, Venmo, Bandcamp, Cash App, and Patreon.
Now, the company seems to be working on adding Bitcoin to the Tip Jar following a statement on the crypto giant by the CEO Jack Dorsey. Back in July, the CEO told investors that Bitcoin is a “big part” of the company’s future. In a statement, Dorsey said:
So I think it’s hugely important to Twitter and to Twitter shareholders that we continue to look at the space and invest aggressively in it.
The CEO’s other company Square is one of the companies with Bitcoin on their balance sheets. Also, Square has recently announced plans to develop a Bitcoin hardware wallet.
Twitter to provide tutorials on new feature
The latest Twitter beta suggests that there would be a tutorial for users to educate them on Bitcoin Lightning Network. Also, Twitter will inform users on Custodial and non-custodial Bitcoin wallets. Examples of custodial wallets by Twitter include Wallet of Satoshi, Blue Wallet, and Strike. On the other hand, non-custodial wallets are Muun, Phoenix, Zap, and Breez.
In addition to the reports on the new Bitcoin tip by Twitter, mobile developer Alessandro Paluzzi recently leaked an image that shows what the new service would look like. The image supports MacRumors’ point that Twitter will cooperate with Bitcoin Lightning app Strike to execute the service. As such, users will be required to own a Strike account to receive their BTC tips. A part of the image shared gave details of setting up a Strike wallet:
We use Strike to generate Bitcoin lightning invoices so you’ll need to connect your account to accept Bitcoin tips.
The mobile developer uploaded the image on Twitter on the 1st of September. Twitter product lead Kayvon Beykpour seem to confirm the news as he quoted Paluzzi’s tweet with lightning and “soon” symbols.