ICYMI: Twitter is letting users tip content creators with Bitcoin

Twitter is adding to the menu of ways for users to reward their favorite content creators. The social media giant is rolling out Bitcoin tips, a move the company says will offer creators more ways to get paid.

Why should we care?
The ability to tip creators was first unveiled in May, when Twitter announced the launch of the Tip Jar feature. It offered users the ability to tip creators – depending on region – using PayPal, Venmo, Patreon, Cash App and Bandcamp. The addition of Bitcoin as a payment method for creator tips is positioned as an access play. “We want everyone on Twitter to have access to pathways to get paid,” the company said in a blog post. “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.” Twitter won’t take a cut of the tip money. Twitter co-founder Jack Dorsey has been increasingly leaning into Bitcoin. He is experimenting with bitcoin mining and has suggested Bitcoin will be a big part of Twitter’s future. The company is also looking to find ways for creators to showcase NFTs on the social network.