Microblogging and social networking platform Twitter has officially shared details of its new feature that would enable users (at least on iOS, for the meantime) to receive tips from other users through a number of payment options, including crypto.
Rumors of the tipping feature that integrated with crypto began circulating early this month, and now, Twitter has officially announced it as a new implementation on its app.
“People already drop links to their payment profiles in their bios and in their Tweets. Tips makes this easier to do, offering one fixed spot, right on your profile, where you can link to your Cash App, Patreon, Venmo and other platforms where people can support you.” the company shared on its official blog.
Twitter says that the feature is aimed at helping small scale creators, businesses, or causes, to get support from followers. The firm says that the feature will be rolled out first on iOS and iPadOS devices, with Android devices receiving the update in the coming weeks.
The feature will be highlighted on a user’s profile next to the ‘Follow’ button on their page or screen. Once tapped, a list of payment services or platforms that the user has chosen to enable will be dropped down for selection. Twitter has listed GoFundMe, PicPay, Bandcamp, Cash App, Chipper, Patreon, Razorpay, Wealthsimple Cash, and Venmo as payment options.
“We want everyone on Twitter to have access to pathways to get paid. Digital currencies that encourage more people to participate in the economy and help people send each other money across borders and with as little friction as possible – help us get there.” the company said.
The social platform says that it will take no cut from all transactions through the tipping feature, with the user getting redirected outside the app to the selected payment processing partner.
Alongside the official launch of Tips, Twitter has also opened their app for users who prefer to tip with Bitcoin, but the service will be limited to users based in El Salvador and in the U.S., except for those from Hawaii and New York. Users who wish to receive $BTC are required to sign up for a Strike account first and nominate their Strike username through their profile. The feature is compatible with any Bitcoin Lightning Network wallet for use from senders.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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