Social media giant, Twitter, has announced that it is adding Ethereum wallet address to its tipping feature.
Twitter started its tipping feature in September of 2021, only supporting Bitcoin via the lightning network, as a way for users to send money through cryptocurrency and other means on its social media platform. Although criticized, the feature is used by a significant number of people in the country the feature is supported.
The social media giant seems to be taking a step further with the newest update on its tipping feature. Now, Ethereum wallet addresses can now be added as a means of tipping on Twitter. This means those with Ethereum wallet addresses can receive crypto on Twitter as tips.
What you should know
- As previously mentioned, the social media giant added Bitcoin tips in September 2021. Users can now add their Ethereum wallets to the product as well, however, the feature is only available on mobile phones.
- The move follows Twitter’s continued exploration of the Ethereum ecosystem. The company debuted non-fungible token (NFT) verification for paid “Twitter Blue” subscribers last month.
- A Twitter spokesperson told CoinDesk that the Ethereum wallet support is available to all users who agree to the company’s tipping policy.
- The spokesperson also mentioned that the new feature doesn’t support Ethereum Name Service (ENS) domain names. It is however still unclear whether or not tipping with ERC-20 tokens and stablecoins will be supported, rather than just ether (ETH), the native token of the Ethereum blockchain.
- Tips are sent off Twitter via third-party payment services. Twitter has stated it will not receive any portion of these payments, but the third-party payment services may charge fees.
- You also must be at least 18 years old to request, receive, or send tips via Tips or anywhere on our platform.
The newest feature represents the deepening connection between the popular social media platform and cryptocurrency. Twitter also said it has made its tips feature available in Nigeria, Ghana and India. Twitter currently trades on the New York Stock Exchange at $36.24 per share with a market capitalization of $28.98 billion as of the time of this reporting.