Twitter is one of the multi-billion organizations joining in the cryptocurrency revolution and, as its social media counterpart, is seeing a bright future within the space. Recently, CEO Jack Dorsey announced that Bitcoin would be a part of Twitter’s future, hinting at the possibility of more cryptocurrency-based products from the company.
Reports have revealed that Twitter is currently testing a Bitcoin-tipping feature. Multiple sources have confirmed these rumors, while famous mobile developer Alessandro Paluzzi shared a screenshot of the soon-to-be-revealed service.
Twitter’s latest beta version supports offering bitcoin tips to content creators via the ‘Tip Jar’ function, launched earlier this year. Furthermore, sources also added that the tipping feature would make smaller bitcoin payments using the Lightning Network. It will be compatible with both custodial and non-custodial wallets.
Paluzzi’s screenshot showed Twitter users how to receive tips in bitcoin on Twitter. The instruction showed that Twitter users need a Strike account since Twitter works with Bitcoin Lightning App Strike.
In May this year, Twitter introduced Tip Jar, explaining that the services that could be added included Bandcamp, Cash App, Patreon, Paypal, and Venmo, also noting that it took no cut from the process.
Later on, in July, Dorsey spoke about Bitcoin’s role in Twitter’s future as the currency of the internet. He said, “If the Internet has a native currency, a global currency, we can move so much faster with products such as Super Follows, Commerce, Subscription, Tip Jar, and we can reach every single person on the planet because of that instead of going down on market-by-market approach.”
A few hours after the leak, Twitter’s product chief Kayvon Beykpour confirmed rumors that the social network is planning to add Bitcoin transactions for its Tip Jar platform. However, it’s unclear when this feature will be available to all users.
This new move comes as no surprise for crypto experts seeing Dorsey’s enthusiasm about Bitcoin. Tip Jar would help most Twitter users monetize their tweets and prove to be a valuable platform for users with colossal fan bases such as singers, artists, and other celebrities that create content.