Twitter crypto tipping

Subscriber Account active since. Twitter does not earn any revenues, but the third-party firms may charge transaction fees. Why add Bitcoin? The cryptocurrency is an efficient additional payment option to power its global platform. Twitter founder Jack Dorsey previously described Bitcoin as the internet's "native currency" which, can reach every single person on the planet much more easily than building infrastructure to process fiat currency in each local market.

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Content:

• Twitter is building a dedicated crypto team to enable creators to accept virtual currencies
• Twitter Hires Tess Rinearson To Run Twitter Crypto: What We Know So Far
• Twitter NFT: How To Set NFT As Profile Picture On Twitter
• Twitter rolls out crypto unit; to focus on blockchain, NFT, Bitcoin tipping
• How to Report Twitter Bitcoin Tips on Your Tax Return
• Strike’s Jack Mallers explains why the Bitcoin (BTC) Twitter deal is bigger than you think
• Jack Dorsey tweets ‘705742’ and sets crypto twitter abuzz
• How to Use Twitter's New Bitcoin Tipping Feature
• US guy wakes up a ‘trillionnaire’ after buying crypto worth $20

WATCH RELATED VIDEO: Making an instant, free, cross-border payment over Twitter with the Strike API

Twitter is building a dedicated crypto team to enable creators to accept virtual currencies

Twitter recently unveiled the option for users to give tips through Strike , a payment processor built on the Bitcoin Lightning network. While it sounds like a great way to increase crypto adoption, there is one thing you should keep in mind before sending your first Bitcoin tip: the tax implications.

Twitter also supports the option for users to send and receive tips from Strike, a payment processor built on the Bitcoin Lightning network. In addition, Twitter gives users the option to directly add their Bitcoin address to their Twitter profile. Receiving a Bitcoin gift is not a taxable event. At this time, giving a cryptocurrency gift is not a taxable event. Typically, Bitcoin gifts are tax-free. Filing this gift tax return typically does not mean that any tax liability will be due — the form is primarily for tracking purposes.

Unfortunately, the tax implications of sending a Bitcoin tip to a professional content creator are not clear. While sending a Bitcoin gift is non-taxable, sending Bitcoin in exchange for goods or services is considered a taxable event , and you could realize capital gains. The IRS has not given clear guidance on this issue.

At this time, Strike, the payment processor used for Bitcoin tax payments, does not offer tax forms to users.

This means that reporting taxes on your Strike transactions will likely be difficult. Crypto tax software like CryptoTrader. Tax can help. You can import your transaction history from Strike and any other platform, wallet, or exchange you are using to keep track of your gains, losses, and income.

Tax is used by more than , cryptocurrency investors across the globe. The platform automatically integrates with exchanges like Coinbase, Kraken, and Gemini to make filing your crypto taxes feel stress-free.

Get started with a free account today. FREE Get started today and maximize your refund. Pricing Professional Suite Help Center.

Integrations Tax Guide Blog. Log in Sign Up. Crypto Taxes. Twitter now allows users to send Bitcoin tips with zero fees. How do Bitcoin tips on Twitter work? I received a Bitcoin tip on Twitter. How is this taxed? I sent a Bitcoin tip on Twitter. Sending a Bitcoin tip to a professional content creator Unfortunately, the tax implications of sending a Bitcoin tip to a professional content creator are not clear. How do I report my Bitcoin tips on my taxes?

File your crypto taxes in minutes CryptoTrader. Recommended For You Crypto Taxes. Calculate Your Crypto Taxes No obligations. No credit card needed. Instant tax forms. Get Started For Free.

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Twitter Hires Tess Rinearson To Run Twitter Crypto: What We Know So Far

US-based social media giant Twitter has rolled out a dedicated crypto division called Twitter Crypto with Tess Rinearson at the helm of affairs. In her Twitter thread, Rinearson said that the division will focus on crypto, blockchains, Bitcoin tipping, NFTs, and other decentralised technologies. The team will figure how crypto will help Twitter and vice versa and will also explore how ideas from crypto communities can help Twitter push the boundaries of what can be done with identity, community, ownership and more. Earlier this year, Dorsey hailed Bitcoin as a unifier of a deeply divided nation. Bitcoin will unite a deeply divided country. He also rolled out a new Bitcoin based business unit for his digital payments company Square.

Twitter NFT: How To Set NFT As Profile Picture On Twitter

Twitter today announced a host of new features for its platform. While some of these features will be available on the micro-blogging platform starting today, others will arrive in the coming months. But the biggest and most interesting update it has rolled out is to its tipping feature called Tips. Twitter today announced that it has started rolling out Tips, which it started testing with a select group of people in the US back in May this year, to its users across the globe starting today. Twitter said that users will be able to tip others in Bitcoin using a payments application built on the Bitcoin Lightning Network called Strike, which allows people to send and receive Bitcoin instantly globally. The micro-blogging platform also said that Strike is available to people in El Salvador and the US excluding Hawaii and New York and that users will have to sign up for a Strike account and add their Strike username to receive Bitcoin tips over the Lightning Network. This feature is being rolled out to iOS and Android users will get it over the coming weeks. In addition to that, Twitter said it is also planning to add support authenticating NFTs or non-fungible tokens by letting people connect their crypto wallets. Also, Twitter said that it is adding new services to the supported third-party tipping platforms. Apart from support for Bitcoin tipping, Twitter announced a host of new features that are aimed at making the platform safer for its users.

Twitter rolls out crypto unit; to focus on blockchain, NFT, Bitcoin tipping

Crypto hashtags used on Twitter are different from those used on other social media platforms. Twitter is one of the most popular social media platforms for cryptocurrency fans and the crypto curious to discover, explore and learn about the latest news from the digital asset market. Crypto hashtags used on Twitter are different from those used on other social media platforms, Twitter is a much more versatile platform that allows you to reach a lot more people, which means knowing all the right hashtags to use will guarantee you a voice in the conversation. Fortunately, CoinCulture has listed the top 10 to follow.

How to Report Twitter Bitcoin Tips on Your Tax Return

Twitter is assembling a new team to look into development in the decentralised cryptocurrency space led by seasoned Blockchain engineer Tess Rinearson. This development has come after the social media giant in September said that it was introducing a new tool that will enable users to send tips to others for their content using Bitcoin. Rinearson pointed out that her team will look to crypto tech to augment identity, community, and ownership on Twitter. Twitter is also experimenting with ways to verify NFT used as profile pictures. Reddit co-founder Alexis Ohanian looks to expand their platforms using cryptocurrency Solano and Discord is also embracing some of the concepts of web 3. With Twitter Blue subscription, the social media giant is looking to diversify its revenue streams.

Strike’s Jack Mallers explains why the Bitcoin (BTC) Twitter deal is bigger than you think

In May, Twitter started rolling out its Tip Jar feature for some users. With this option, creators were able to easily receive money from their followers. According to a blog post , this feature is first rolling out to people on iOS, and it will bring Tips to people on Android over the coming weeks. To tip people, you need to go to their profiles and tap on a new icon next to the Follow button. There, you can select which platform you want to send money to. The services available so far are:. Twitter takes no cut, it says. In addition to the apps currently enabled through Tips, people can tip with Bitcoin using Strike — a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin.

Jack Dorsey tweets ‘705742’ and sets crypto twitter abuzz

Twitter is making two major updates that will make cryptocurrency integral to its product, with more likely to come. Second, Twitter is going to create a way for its users to authenticate the fact that he or she owns the NFT that they use for their profile picture. Twitter released tipping in May , but the number of people who could use it has been limited. Everyone will be able to send and receive tips starting today, on iOS, though the team plans to roll out on Android soon.

How to Use Twitter's New Bitcoin Tipping Feature

RELATED VIDEO: Tipping With Bitcoin On Twitter

Twitter on Thursday announced it will now allow users to tip their favorite creators on the social network using bitcoin. The company introduced tipping as a test feature back in May as a way to experiment with helping creators earn payments from their followers for the content they post on Twitter. The company announced Thursday that its Tips feature will now roll out globally to all Apple iOS users this week and will become available for Android users in the coming weeks. Previously, users could tip with fiat currency using more traditional payment services such as Square 's Cash app and PayPal 's Venmo. Twitter will integrate the Strike bitcoin lighting wallet service so creators can receive bitcoin tips.

US guy wakes up a ‘trillionnaire’ after buying crypto worth $20

Jack Dorsey, the outgoing Twitter CEO, is known for focusing all of his crypto efforts on Bitcoin —so it's fitting that, on the day of his resignation , one hacker has been getting attention for adding an Ethereum address to her Twitter tips button. The hacker is Hong Kong-based Jane Wong, who has gained fame for her skills in tinkering with code on apps like Instagram and Spotify to discover features the companies have yet to announce. In the case of Twitter, Wong was able to tweak a part of the app that lets users receive tips in the form of Bitcoin or in fiat from Venmo and a handful of other payment platforms. Those payment options for now don't include Ethereum—but Wong found a way to add one anyways, as this screenshot shows:. I did my magic to add the address to my tip jar," said Wong in a Twitter message to Decrypt. The Twitter tipping feature has been restricted to users of iOS mobile devices, though the company is starting to roll it out to Android users too.

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