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The number one social media giant Twitter has announced on Thursday that it is set to use Bitcoin (BTC) and Lightning Network as a form of payment for tipping. According to the social media company, this move is to help content creators enhance payments as well as monetize their contents effectively. This will allow users to post their Bitcoin addresses on their Bios or their tweets, and consumers of their contents can tip them directly using BTC.
The Bitcoin tipping service is only available to iOS users, while Android users will be able to access it soon.
Twitter announced that it will not take part in handling any of the funds, but a third party processor service will be used. It also said that it will not take any commission made from payments on the platform, as the service is completely free.
Twitter's product manager, Esther Craford said that although it hasn't been accepted worldwide, to reach its users globally, Bitcoin is the best means of payment.
"We know not everyone around the world transacts with bitcoin yet, but we think it’s one of the better solutions.” “We want to help creators participate in the promise of an evolving decentralized internet directly on Twitter", she added.
Jack Dorsey, Twitter CEO, has had a great vocal impact on the crypto space in that he has always been bullish about Bitcoin and has continually posted his thoughts on his page for thousands of his followers to see. This alone is making the world become more informed of Bitcoin as well as digital currencies in general.
At the time of writing, Bitcoin trades at slightly above $42,600 and Ethereum at $2,900. With the recent announcement by Twitter, Bitcoin may see more adoption and use, which could potentially push the price to higher levels in the coming days.
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