Categories
Market Watch

TrueNorthBit Report – Twitter’s Tip Feature: The Bitcoin Tip Revolution Begins?

London, UK, 4th Oct 2021

The Twitter Boom

Twitter, now with over 100 million active users, has become an integral part of the social media culture. What began as a way to share what you had for breakfast (and maybe tell the world your thoughts) has now evolved into the de facto newswire of all major events and marketing campaigns. Not only is it widely used as a marketing platform, but Twitter has also become a crucial way for companies to communicate with their consumer base.

TrueNorthBit Broker Alex Jameson says that in recent years, Twitter has been a key player in some of the most historic events.  The uprisings of the Arab Spring were coordinated on Twitter, and the platform was instrumental in organizing Occupy Wall Street. Twitter has also become an effective way for companies to reach customers directly. Whether it’s using Twitter chats to talk with customers or just promoting hashtags, many major brands have found their voice on social media – and they are using Twitter to connect and engage with their customers.

The Bitcoin and Twitter bond

Bitcoin has also turned to Twitter as a key marketing tool. The currency, which has gained notoriety for its sharp volatility, has used the platform to find new users. And with some major companies accepting Bitcoin payments, it is an ideal time to explore how Twitter is being used in the space of cryptocurrency. 

The value of Twitter in the world of cryptocurrency

You might think that a currency that started trading at fractions of a dollar would have been an unlikely candidate for Twitter to embrace. But the truth is, the world’s first digital currency has been using social media from its earliest days to both grow in value and find new users.

One of the major uses of Twitter for the world’s most valuable cryptocurrency has been to drive news coverage. While traditional media inevitably focused on Bitcoin’s volatility, the currency was quickly embraced by technology bloggers and social media outlets like Twitter- a trend that continues today.

Twitter Tip Feature

As the value of a single Bitcoin soared to over thousands of dollars, Twitter needs to make it convenient to spend money. In May 2021, Twitter unveiled its “tip” feature, which allows anyone on the platform to send any other user an amount of money simply by entering the person’s handle and an amount in USD. It has allowed users to send tips as little as a fraction of a cent.

In the months after the introduction of Twitter’s tip feature, several major celebrities began accepting Bitcoin for direct donations. While some used third-party services, many decided to use Twitter itself. To many people, it did not come as a surprise because the CEO has given out many statements that marked him pro-crypto. He recently stated that he is looking into bitcoin mining. He says bitcoin can bring world peace. This step by Jack Dorsey would spur many other CEOs and celebrities to adopt crypto in their daily lifestyle, bringing up the value of bitcoin and other cryptos.

Mr. Jameson thinks that another important aspect of Twitter’s role in cryptocurrency is the advantage it gives companies that accept Bitcoin as a payment option. As more big-name stores and services began accepting digital currency, they were able to easily inform their customers through Twitter updates. Even now, there are still several major companies accepting Bitcoin, and that list is growing all the time.

Bitcoin’s value on Twitter

If there is one thing Bitcoin has proven over its nine years of existence, it’s that social media can be an integral part of success. A cryptocurrency doesn’t live in isolation; instead, it relies on people using it to become successful. And while Bitcoin has certainly seen its share of ups and downs, social media has played a key role in building the currency’s value.

Twitter isn’t just about claiming to be the best cryptocurrency on the planet; it’s also about promoting real use. For example, you can tip other users through your Twitter account or even donate to Twitter-based charities that accept the digital currency.

Bitcoin is one of the major currencies but it is far from being the only one. In fact, there are now hundreds of cryptos – many of which can be purchased and sold through Twitter as well. When you consider all the use cases it has, there’s no question that Twitter is an important part of how digital currency grows and becomes a major force in the world economy. 

Mr. Jameson also believes that it is safe to say that Twitter has been a vital part of the growth and acceptance of cryptocurrency, as it is used to promote use. Jack Dorsey has been seen by many as a driving force behind the success of bitcoin because of his tweets and measures. By implementing features like tips and an integrated wallet, the platform has acted as a catalyst for cryptocurrency growth.

Disclaimer: Our content is intended to be used for informational purposes only.

It is very important to do your own research before making any investment based on your own personal circumstances.

You should take independent financial advice from a professional in connection with, or independently research and verify, any information that you find on this article and wish to rely upon, whether for the purpose of making an investment decision or otherwise