Twitter officially adds support for bitcoin transactions

Twitter has officially added support for bitcoin transactions through its Lightning Network scaling solution.

Previously, users could already send small amounts of money to content creators using third-party services, including CashApp from Square, a company founded by Twitter CEO Jack Dorsey. In the latest update, the service has taken into account the needs of users who do not have access to traditional payment methods.

The company explained that it chose Lightning Network because of the reduced fees for sending transactions. Users can connect a Lightning wallet or bind a bitcoin address to send and receive cryptocurrency transfers. The feature is currently supported by iOS devices; an extension for Android users is also planned in the near future.

Earlier this month, it was reported that Twitter was testing the ability to send bitcoin payments through the Lightning Network-centric Strike app. Twitter confirmed that it does use Strike to process bitcoin transactions. The company itself, however, will not participate in the transactions or charge fees.

“We want all people to have access to digital currency payment receiving tools that will attract them to the economy and help them send money overseas with minimal hassle,” said product manager Ister Crawford.

It was also previously cited that users would be able to include Ethereum wallet addresses in their profiles, but with today’s release they did not have that option. Twitter said it is considering other “potential options” that could be implemented at a later date.

Twitter has also planned to add authentication tools for non-swappable tokens so that users can verify their ownership within the service. The initiative particularly targets NFT holders, who set them up as avatars, and is still in the early stages of development.