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Are you an influencer? Get ready to be tipped in bitcoin on Twitter

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NEW DELHI :

If you are a Tweleb (a portmanteau word combining Twitter and celebrity), there is good news for you. The microblogging site has rolled out its tipping feature, titled Tips, which will allow its users to send a tip to their favourite content creators.

That’s not all.

If you are an influencer who uses cryptocurrency as a payment option, you can now receive tips in bitcoin.

 Twitter had started testing tipping in May to analyse how creators or influencers can earn from their Twitter followers for the content they create. On Thursday, the feature was rolled out globally on Twitter iOS first, and will be made available to Android users in the coming weeks. The feature is still being rolled out so some users may take longer than others to get the update on their Twitter app.

Bitcoin tips will primarily work in two ways. One way is that users can add Strike, which is a bitcoin lighting wallet service to send and receive bitcoin payment, to their Twitter account, the microblogging site wrote in its blog.

It should be noted that Strike in not available in India; however, other bitcoin lightning wallets, such as Cash App, Blue Wallet and Wallet of Satoshi, among others are also expected to be integrated to Tips.

Another way is to use a non-custodial wallet, wherein you just have to add your bitcoin address to start receiving payments.

“In a non-custodial wallet, the private key is with you, and you have full control over your funds,” said Kashif Raza, founder, bitinning, a crypto education and awareness platform.

“When you enable Tips on your profile, you can now also add your bitcoin address. People can copy your address and paste it into a bitcoin wallet of their choice to send you a payment directly,” the blog post stated.

Mint could not test Tips, as it is not available to users in India yet.

Crypto ecosystem has welcomed the move with open arms.

“Mainstream adoption happens in phases and Twitter supporting bitcoin tipping will be a major landmark moment in that direction,” said Sharan Nair, chief business officer, CoinSwitch Kuber.

Raza believes that this development will prompt other major social media networks to enable payments through cryptocurrencies on their platforms as well. “By enabling bitcoin tipping services, Twitter has essentially become a payment platform to transact in bitcoin,” he said.

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