Twitter tests allowing users to transfer Bitcoin to each other on Lightning Network

There is currently some news that Twitter is testing a Bitcoin “Tip” feature so users can transfer Bitcoin money back and forth on the Twitter platform.

According to news site Macrumors, Twitter is testing support for Bitcoin remittances using Lightning Network technology, a second-layer payment solution that allows people to send and receive “faster payments” at a cheaper cost than compared to Bitcoin. with its base layer, the feature is now entering Beta phase.

It is known that Twitter will support money transfer between custodial wallets (wallets on exchanges, users do not manage private keys) and non-custodial wallets (wallets owned by users themselves).

The app’s developer, Alessandro Paluzzi, tweeted an image of what is believed to be Twitter’s Bitcoin remittance service.

From the leaked image above, Twitter is working with the developer of the Strike application to create a Bitcoin invoice, and users will need to have a Strike app account to use the service.

Strike only operates in the United States and El Salvador Dorsey. However, Bernard Parah, CEO and founder of Bitcoin-based savings app Bitnob, noted that in other parts of the world, such as Africa, people cannot access Strike.

As such, he congratulates Twitter on their efforts to integrate Lightning Tips and offers help to help expand access to the feature.

In July, Twitter CEO Jack Dorsey hinted at his plans to adopt Lightning Network technology, so the possibility that Twitter will support Bitcoin transfers on the platform is possible in the future.

Recently, Dorsey’s payments company Square also committed to building a hardware wallet for Bitcoin.

Dorsey has made it very clear that Bitcoin will be “deeply integrated into Twitter.” The company plans to make BTC the main focus for some of their new features, Super Space and Followers.

This can help the platform “drive both engagement and monetization,” the CEO said in their latest earnings report. Dorsey added:

I think this is an important part of our future. I think a lot of the aforementioned innovation is just monetary, especially when we think about decentralizing social media more and providing more economic impetus. So I think it’s extremely important for Twitter and its shareholders that we continue to look at the space and invest actively in it.

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