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Twitter May Surpass Western Union, Becoming One of the Best Crypto Remittance Platforms, Experiment Shows

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Fri, 09/24/2021 - 13:43
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Yuri Molchan
CEO of MicroStrategy has shared a video explaining how Twitter could surpass Western Union as a remittance platform
Twitter May Surpass Western Union, Becoming One of the Best Crypto Remittance Platforms, Experiment Shows
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Michael Saylor, head of business intelligence software maker MicroStrategy, a public company, has taken to Twitter to share a curious video.

A person in the video claims that, in the future, Twitter can easily leave Western Union behind and become one of the largest global remittance companies, thanks to Bitcoin.

Sending $10 in Bitcoin to El Salvador in seconds

The video guy, sitting in Chicago, demonstrates how he transferred Bitcoin to "David," who at that moment was waiting in a Starbucks in El Salvador. The guy explains that David has a Strike account linked to his Twitter account, so the guy in Chicago has sent his friend in El Salvador a $10 remittance payment in Bitcoin by using the new tipping feature rolled out by Twitter on Thursday, Sept. 23.

The payment was made via the Lightning Network, which powers the tipping feature on Twitter—so far only for iOS users.

The sender stated that, after this, no one would want to use Western Union for remittances, and Twitter could turn into one of the best remittance experiences in the world thanks to its Bitcoin tipping feature.

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Twitter announces Bitcoin tipping feature

On Thursday, the Twitter team announced that, this week, they are going to roll out the Tips feature. It allows anyone to tip a Twitter account owner whose content they like with Bitcoin, by using the Lightning Network.

So far, the feature is being launched for iOS users only, but the Twitter team has promised that it will be released for Android "soon" as well.

Many in the crypto community believe that this is a great step for Bitcoin adoption. Earlier this year, during an online conference with Tesla CEO Elon Musk and ARK CEO Cathie Woods, head of Twitter, Jack Dorsey, stated that Bitcoin is going to play a large role in the future of Twitter.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.