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Twitter Now Supports Bitcoin Tips on Lightning Network

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Twitter Now Supports Bitcoin Tips on Lightning Network

LEARN HOW TO TRADE, BITCOIN, EOS, ETHEREUM, LIGHTBLOCKS MEDIA

Twitter, the most popular social network for cryptocurrency enthusiasts, has just announced that it will allow its users to send Bitcoin to any account with a BTC wallet. Enabling bitcoin alerts is part of a larger plan. The company is expanding support for various payment processors, including Patreon, Cash App, Venmo, Razorpay, GoFundMe and the Brazilian startup PicPay, which is equivalent to PayPal or Venmo, and offers additional options such as cashback purchases, deposits or payments with two dimensions.

Twitter Accepts Bitcoin

In an article titled “Bringing Tips to Everyone,” Twitter Product Manager Esther Crawford stated that cryptocurrencies are in line with Twitter’s philosophy:

“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 article also clarified that due to the collaboration with Strike, Bitcoin payments will be made through the Lightning Network.

The Lightning Network is an experimental Layer 2 scalability solution for Bitcoin that enables instant transactions at the lowest cost. In other words, the feature seems to be aimed at popularizing in-app micropayments.

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Lightning Network

While this is the first time Twitter has supported Bitcoin micropayments, Twitter users have already had this experience. Initially, users could receive payments through PayPal and other providers, and bitcoin tipping became a reality through popular tipping bots and projects like Tippercoin, BottlePay, or Dropbit, which allow users to link their Twitter account to the Lightning Network Wallet with a link.

Bitcoin payments are currently only available to iOS users. Crawford said Twitter will roll out support for Android devices in the next few weeks.

Bitcoin “Maximalists”

Twitter’s CEO ,Jack Dorsey, is an outspoken Bitcoin maximalist. On numerous occasions, he has stated that Bitcoin could be destined to become the currency of the internet while dismissing his focus on other cryptocurrencies such as Ethereum or Cardano. Considering the magnitude of Twitter, this move could be the first step towards the much dreamed global adoption.

However, despite Jack Dorsey’s maximalism, the blockchain encompasses much more than Bitcoin, and the Twitter team is aware of that. According to Mashable, Crawford said that Twitter developers are exploring the use of NFTs within the platform as decentralized forms of identity protection.

“We’re excited to explore NFT authentication soon. This is a way to help YouTubers show authenticity through stamping to do the art. By allowing people to connect directly to their encrypted wallets, they can Follow them on Twitter and show NFT ownership. “

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