Twitter enables Bitcoin payments via Tips, NFT authentication to come

    28 Sep 2021

    Twitter users on Apple’s iOS will now be able to connect third-party tipping services to their profile on the social media site. That will include the ability to link both Bitcoin addresses and Lightning Network addresses. Twitter also announced that it will add non-fungible token (NFT) verification features to the platform.

    The social media giant announced Thursday that, starting immediately, users around the globe will be able to post their Bitcoin wallet directly into their profile — while a more limited subset will be able to more directly integrate a Bitcoin payment app. The addition of cryptocurrency payments to Twitter, via Tips (formerly dubbed Tip Jar), coincides with the larger rollout of Tips to all iOS users globally, with Android access promised in the near future.

    Using the new feature, users will be able to tip their favorite content creators, analysts, traders, influencers, and more. It also is yet another way the cryptocurrency is rapidly gaining visibility with the entire world thanks to Twitter CEO Jack Dorsey.

    “People will be able to add a Bitcoin Lightning wallet or their Bitcoin address to send and receive Bitcoin Tips beginning today,” explained Esther Crawford, Twitter’s product lead for creator monetization, on a Thursday press call.

    The Bitcoin tips are facilitated by Strike, a Bitcoin wallet app that runs on the Lightning Network protocol. Lightning is designed to enable faster and cheaper transactions using Bitcoin. The company behind it has received funding from Twitter CEO Jack Dorsey, a staunch Bitcoin advocate who tweeted in June that it was “only a matter of time” before Twitter supported payments via the protocol.

    Some crypto podcasters already expressed the opinion that a collaboration between Twitter and Strike can exceed the reach of Western Union.

    Crawford also spoke to Twitter’s interest in non-fungible tokens (NFTs), and how they’re currently used on the platform. Many NFT owners use their NFTs as profile pics, and Twitter is looking into ways to formalize that practice.

    “We’re excited to soon explore NFT authentication,” she explained. “It’s a way to support creators making this art with a stamp to demonstrate authenticity. By allowing people to directly connect their crypto wallets, they can track and showcase their NFT ownership on Twitter.”

    However, no specific timeline was laid out for the NFT feature, which remains in development.

    In just the past few months, Jack Dorsey has tweeted that he is trying his hand at Bitcoin mining. He said he doesn’t think there is anything more important to work on than Bitcoin and he has even said that his hope is Bitcoin will bring about world peace.

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