Twitter just introduced a new feature for its users. Users will be able to tip their favourite content creators using bitcoin with this new functionality. It will allow Twitter influencers to make money from anywhere, regardless of where they are staying.
The company has collaborated with Strike, a platform based on the Bitcoin lightning network that allows for almost no transaction fees for fast international payments. Twitter also stated that because its functionality formed on traditional, non-crypto platforms, it would not receive a share from the tips that users exchange.
Steps to send tips using the bitcoin wallet feature on Twitter:
- To start, select the tips option on the user’s profile to ensure that the recipient’s profile supports bitcoin wallet transfers.
- If the feature is enabled, a bitcoin wallet address will be attached to the profile.
- Tippers can copy-paste this address onto their bitcoin wallets to send tips directly.
Sending Bitcoin tips through the lightning network:
The lightning network is a secondary payment layer developed top of the bitcoin network that allows for safe and inexpensive transactions. Without this technology, a bitcoin transaction can take up to an hour to be complete on the blockchain network. However, by leveraging this network, users may avoid this time-consuming procedure by doing immediate transactions over several channels before recording the final state on the blockchain.
Steps to start receiving the Bitcoin tips:
- To start receiving the tips, the user must first confirm their eligibility by clicking on the edit profile and activating the tips option.
- To continue with the process after activating the tips option, the user must agree to the terms and conditions of Twitter.
- The user then is sent to a settings panel where they may toggle the tips button. Then they can pick from any of the bitcoin-enabled transaction alternatives provided.
- For example, if the user has selected Strike as a preferred option, they have to set up their Strike username and account or add a bitcoin wallet address.
Twitter users will be able to use this new feature after following these simple steps. Users in the United States are now able to utilize the feature. As a result, GoFundMe and PicPay, Bandcamp, Cash App, Chipper, Patreon, Razorpay, Wealthsimple Cash, and Venmo are now supporting. The Strike services are presently available to people in El Salvador and the United States.