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19 September 2021

Bitcoin tipping on Twitter: A game changer for crypto adoption?

Bitcoin tipping on Twitter: A game changer for crypto adoption?

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Merrick Theobald, vice president of marketing at crypto payments firm BitPay, told Cointelegraph that as more major mainstream business entities like Twitter embrace crypto and openly support Bitcoin and blockchain tech, it will help to push the industry forward since “Blockchain payments are the best way to transact online,” adding: “Twitter’s desire to add Bitcoin to the Twitter Tipping Jar embraces this new and different approach to financial technology and will help accelerate adoption.”.

Wes Levitt, head of strategy at Theta Labs — a decentralized peer-to-peer data streaming and delivery platform — seems to agree with this assessment but is also of the belief that if Twitter can make the entire crypto payment experience streamlined for its users, the company could be onto something, adding:.

He suggested that even though Twitter may provide its users with an initial amount to tip others, it remains to be seen how things will proceed from there because if the move is successful, it could potentially lay the groundwork for many other companies to follow.

It is worth highlighting that Twitter CEO Jack Dorsey had previously hinted that a Bitcoin tipping option was in the works — as early as May — when his social media firm revealed its “Tip Jar” concept was designed to enable platform users to reward content creators with the touch of a button.

If Twitter’s Bitcoin tipping option comes to fruition soon, it could set in motion a domino effect that could see not only social media companies but also other financial entities from various domains begin to strongly consider the use of digital assets as one of the ways to facilitate payments

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