Financial Information Platform

Twitter prepares for Web 3 and already allows payments with ethereum and bitcoin

0 0

The social network Twitter is preparing to compete with the social networks of Web3 and has just added the possibility of making payments with ethereum, in addition to bitcoin, to its Tip Jar payments and tips function. This means that its users can now associate their ethereum digital wallets to make or receive payments to an ETH address directly on the platform. In September of last year, the company integrated bitcoin (BTC) payments into Tips, using the Strike API. It is also possible to make payments with BTC through the Lightning Network scalability solution, using only the username. . Twitter’s tips feature allows you to support creators and users who promote valuable content within the platform. A function that can also be used by organizations and individuals who need to raise funds directly. 

Twitter allows payments in ethereum and bitcoin

 

Tip Jar has been developed by Twitter to allow its users to send donations, tips, or micropayments to their favorite creators without leaving the social network. Through this payment feature, Twitter allows users to make global and instant payments from anywhere in the world.

Twitter continues to explore cryptocurrency payments as a way to expand the use and adoption of these digital assets globally. The social platform has added support for ethereum addresses, offering its millions of users a new option to receive and use this crypto asset. Users who want to send value via ETH or BTC just need to access the profiles of their favorite creators and select the tipping option. There they can choose the crypto network and the amount they want to contribute to the creators or users. In its default options, Twitter shows payments from USD 1 up to USD 10.

 

 

At the moment, the Tip Jar function, to make micropayments and tips with cryptocurrencies through Twitter, is only available in a mobile version. For iOS and Android users. Those who cannot view this function on their mobiles must accept the terms of service policies by accessing from their user profiles, Twitter said.

 

Also ERC-20 and stablecoins

 

Johnny Winston, senior manager of creator monetization products at Twitter, told CoinDesk that the platform will also support payments with ERC-20 tokens and stablecoins that are built on top of this chain, such as USDT and USDC. However, he indicated that it will not be compatible, at the moment, with the domain names of the Ethereum Name Service (ENS). That allows users to assign a name to a specific ETH address to facilitate its identification and use.

Twitter also makes it easy for users to copy the Bitcoin or Ethereum addresses of others to use from external wallets or platforms.

 

Twitter Blue and NFTs

 

The integration of Ethereum into Tip Jar comes at a time when the social network is more focused than ever on approaching new blockchain technologies, to offer new monetization possibilities to its users. Although the network is just beginning to explore the NFT market, it last month integrated the non-fungible tokens into its Twitter Blue monthly subscription service. Where users can authenticate and configure NFTs as profile images, differentiating themselves from those who only use the image of some non-fungible token. In June of last year, he created a collection of 140 NFTs that were given away to his users and followers.

In addition to accepting tips and micropayments with bitcoin or ethereum, Twitter has also added other options for users. Like Paga, Barter, Paytm, and Flutterwave.

Leave A Reply

Your email address will not be published.