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- Twitter has implemented Bitcoin payments services to allow its users to make BTC payments
- In the current scenario, the feature is being rolled out globally on iOS with Android to follow
- Besides BTC, the social media giant will also let users connect to nine traditional payment providers
- The social platform will not process the payments itself
- Besides the integration of BTC payments, Twitter also plans to support authentication for such crypto tokens
Twitter, one of the leading social media platforms, was seeking to step into the BTC world. On Thursday, it was announced that the social media giant has turned on the ability to ask for tips in terms of Bitcoins through its application. With the addition of such features, the social media platform has become the first prominent social network to stimulate the use of cryptocurrency as a method of payment. The social giant is also planning to let users pertain to their digital assets wallets. Moreover, the user could be able to authenticate the ownership of NFTs they tweet with a special badge.
Twitter was testing such a feature for the last few months
The tipping feature was being tested by Twitter over the past few months. However, the firm hasn’t prepared tips widely available until Thursday. In the current scenario, the feature is being rolled out globally on iOS with Android to follow. Notably, besides BTC, the social media giant will also let users connect to nine traditional payment providers. Such payment service providers include Venmo and Cash App, to their profiles to accept tips.
The payments will be processed by Strike
With the launch of the latest and significant feature, it is also revealed that the social platform will not process the payments itself. Indeed, the tips are going to be facilitated by Strike, a BTC wallet app running on the Lightning Network, a Bitcoin sidechain. It is significant to note that the sidechain is developed to enable faster and cheaper transactions on the legacy blockchain.
It is also revealed that the firm behind the protocol has received fundings from Jack Dorsey, the co-founder, and CEO of Twitter. In June, Dorsey, a staunch advocate, highlighted that it was only a matter of time before the platform supports payments through the Bitcoin Lightning Network.
Twitter users will get full ownership of their BTC
Strike, a crypto payments service provider, works all across the United States, except New York, Hawaii, and El Salvador. Additionally, over the Strike usernames, the users of Twitter, will be able to connect their BTC addresses to their profile, which individuals can then duplicate and paste into their crypto wallet of choice to make payments.
The social app will notify someone when they receive a BTC tip via Strike, letting them quickly reply to the tipper to say thanks or send an emoji response. Twitter will also induce invoices for authors to chase the tips they receive. According to Esther Crawford, the product lead for creator monetization, BTC represents one of the best solutions for transactions in underbanked regions.
Jack Dorsey also plans to support authentication for NFTs
Non-Fungible Tokens (NFTs) are digital collectibles are another type of cryptocurrency that has gained mainstream traction. Besides the integration of BTC payments, Twitter also plans to support authentication for such crypto tokens. The firm will allow its users to connect their crypto wallets to authenticate NFTs. According to a spokesperson from the firm, NFT authentication will come in the form of a badge. Such badges will be exhibited on profile pictures, and mark whether the owner’s NFT is an authentic piece.
