Twitter to enable receiving tips in Bitcoin

To send someone money, simply go to the person’s profile, click on the tip jar icon, select from the available modes of payment and complete your payment.

Twitter is working to add Bitcoin transactions for its ‘Tip Jar’ which enables content creators to monetize their content.

Twitter’s product lead Kayvon Beykpour confirmed the development after a user called Alessandro Paluzzi posted a screenshot showing how the users will be allowed to receive tips through Bitcoin. While Beykpour didn’t elaborate on the subject, Paluzzi’s screenshot signals that Twitter is considering The Lightning Network, a payment transfer technology for tips in Bitcoin.

The microblogging platforms rolled out the tip jar feature in May through a number of payment gateways like Bandcamp, Patreon, PayPal, Venmo, and Cash App. It has also added an Indian payment gateway Razorpay for the same.

To send someone money, simply go to the person’s profile, click on the tip jar icon, select from the available modes of payment and complete your payment. Twitter has also made it clear that the company takes no cut from the amount you send or receive.

While Tip Jar appears as an icon on iOS and Android, the feature is also accessible within Spaces on Android only.

Twitter CEO Jack Dorsey has time and again displayed his enthusiasm for cryptocurrencies. He had hailed Bitcoin saying it changes everything for the better while retweeting CFO of Square Amrita Ahuja's post reiterating the company's Bitcoin strategy.

Dorsey in February had put out the word that he and rap mogul Jay-Z were creating a fund devoted to making bitcoin digital money "the internet's currency." Dorsey, who is also the founder and chief of financial services and mobile payments firm Square, said in a tweet that he and Jay-Z are giving 500 bitcoin to fund an independent endowment called "Btrust."

Bitcoin on Monday jumped over $51,000 taking the market capitalization over $975 billion.