Twitter Adds Ether (ETH) to Its Tipping Options
On Feb 16, 2022, Twitter announced that users can now tip each other using tokens from their ETH addresses. They added Paga, Paytm, Barter by Flutterwave, and ETH addresses in their tipping system.
Twitter Users Can Now Tip From Their ETH Addresses
Yesterday, one of the major social media apps, Twitter, announced that they had added four more tipping options. It quoted Paga, Paytm, Barter by Flutterwave and added ETH address as the latest methods of tipping.
Now, users have the freedom of tipping each other from their Ether addresses. The new feature extends the relationship between the social media platform and cryptocurrency. The tweet, added a link to the FAQs section for people to find guidelines on how to use their tipping system.
According to Twitter’s spokesperson, the new tipping feature does not support ENS domain names but will allow tipping with ETH and ERC-20 tokens. Per Johnny Winston, lead product manager of monetization in Twitter, they are adding ways of getting paid in the platform.
Winston said that they are exploring ways to allow content creators and fans to get paid in the platform including cryptocurrency. Now, they are happy to introduce the functionality to allow people to add ETH addresses to their tips. Additionally, Twitter said that it made the tipping feature available in Nigeria, India, and Ghana first.
Twitter’s Relations With Cryptocurrency
The news on Twitter adding the ETH address option to their tipping feature comes after introducing the BTC tips last September. At the time, Twitter included ten traditional payment methods to the tipping feature and an additional BTC address option.
The BTC tipping feature was incorporated using the Lightning network, and they said that the tipping services would be available regionally. However, BTC and Lightning options were to be available globally.
The social media company explained that they had reasons for choosing to incorporate BTC and Lightning payment options. They said they want to exemplify their commitment to exposing users to emerging technologies. They also added that through tipping with BTC, people would relate better and have the freedom to explore the crypto space.
Institutions Continue Adopting Digital Assets.
Twitter is among the many international companies and organizations exploring the best ways to mainstream cryptocurrency. Per a report by crypto.news, these companies made a significant impact last year through investing heavily in the crypto space. They made mega-deals, with the top ten deals having a value of over $1B each.
The institutional crypto adoption does not even look to be slowing down anytime soon. This year alone, large companies like Walmart, Tesla, Microsoft, and Mastercard confirmed investing in cryptocurrency. Walmart is exploring ways to enter the metaverse through native crypto and minting of NFTs.
Tesla accepted Dogecoin payments in January 2022 and hinted that they may re-accept BTC payments soon. Another major company, Microsoft, has acquired Activision to use it to join the metaverse. The software company plans to use the studio to build a metaverse.
Additionally, Warren Buffet’s company Berkshire Hathaway has tracked crypto companies and invested in them. Last year, it invested in Nubank, a Brazil BTC-enabled bank. Earlier this week, other news leaked that it also invested in Activision shortly before the acquisition by Microsoft.
These developments show institutions’ faith in cryptocurrency; however, it is advisable to DYOR as the crypto market is subject to change.
