Twitter has added a new feature. Users of the social network can now use Ethereum as a means of payment. That's right, Twitter allows users to send money to creators in the form of tips, and this cryptocurrency has finally been authorized. Here's how to activate this option!
What must former Twitter boss Jack Dorsey, an avid supporter of the cryptocurrency Bitcoin, be thinking? Twitter has expanded its payment options for its Tips tool. Users can now link their Ethereum cryptocurrency wallet to their profile to receive their tips.
Until now, Twitter creators could only receive money via payment services like Venmo, PayPal, Bandcamp, CashApp and Patreon. Regarding cryptocurrency, only Bitcoin was offered, which is no longer the case.
The social network rolled out this new option in May 2021 to allow its users to pay money to other Twitter users. Initially reserved for a privileged few, the tool has finally been deployed to all users.
To activate this option, you simply need to go to your profile via the app, either on iOS or Android. Click on "Edit Profile." The "Tips" option will appear at the bottom of the page. You will just have to click on it to enable donations.
While for the moment Twitter has indicated that it does not take commissions on these transfers of money, the social network could well change its position in the future.
By allowing Twitter authors to receive money, and in particular cryptocurrency, through their Twitter account, the platform hopes to increase its number of active users in the face of the behemoths of TikTok and Instagram. The Chinese social network was in fact the first to popularize the idea of enabling donations of money from followers to their favorite influencers. Besides Europe and North America, Twitter has also opened up its Tips tool to popular payment methods in India and Africa. A business that can be profitable for both creators and platforms.
