Twitter announces ETH Tipping Feature

Twitter’s Tips Feature now supports Ether, the social network announced in a tweet yesterday. Ethereum, the second-largest cryptocurrency, joined the Twitter Tips feature five months after Bitcoin was unveiled. 

Twitter’s Tips is a feature that allows content creators to receive financial donations from their engaging followers. The feature boasts of other use cases including supporting upcoming acts, charity donations and helping out micro businesses. 

Twitter has always positioned itself as a crypto-friendly platform — and believes digital currencies allow users to “send each other money across borders with as little friction as possible.”

 It also unveiled a feature that enables NFT collectors to connect their crypto wallets and access digital arts to use as their social avatars. 

Tipping with Crypto is currently only possible through Twitter mobile apps on Android and iOS platforms.

ERC-20 Tokens to be Supported

Although the company told CoinDesk that Ethereum Name Service domains are not yet supported, it announced that tipping will be available using ERC-20 tokens – including stablecoins like Tether. Twitter’s lead product manager of creator monetization, Johnny Winston, told CoinDesk:

“We’re continuing to expand ways to get paid on Twitter which includes more choices for creators and fans who want to use crypto.”

Twitter Tips feature is already becoming popular amongst major territories – Nigeria, Ghana, and India recently joining the list of countries where this feature is supported. 

We wait to assess how Ethereum transaction fees will affect the adoption of Ether tipping on Twitter. This is because transaction fees on Ethereum surge higher when capacity on the blockchain is stretched. @cobie illustrates this in a sarcastic tweet as he wrote:

Now you can pay $90 to tip someone $5! Thank you, Twitter!”

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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