Twitter enables tipping with Bitcoin, plans to let users authenticate NFTs

By CreatorStack · 1 month ago

Twitter is turning on the ability to ask for tips in Bitcoin through its app, making it the first major social network to encourage use of the cryptocurrency as a method of payment. The company also plans to let users connect their crypto wallets and authenticate the ownership of NFTs they tweet with a special badge.

Twitter has been testing tipping for a few months now, but the company hasn’t made tips widely available until Thursday, when the feature is rolling out globally on iOS with Android to follow. Besides Bitcoin, Twitter will let users connect nine traditional payment providers, including Venmo and Cash App, to their profiles to accept tips. Twitter isn’t processing the payments itself.

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.

Bitcoin isn't the extent of Twitter’s crypto plans: the company said it is also planning to support authentication for NFTs, or non-fungible tokens, by letting people connect their crypto wallets. “NFT authentication will come in the form of a badge, shown on profile pictures, marking the owner’s NFT as authentic,” a company spokesperson said.