Bitcoin has furthered the evolution of online behavior by allowing micropayments – payments under $1 USD. Bitcoin services such as ChangeTip and the Coinbase tip button live on social networks and offer users the option to do more than just “like” a quality post. On twitter, users need only mention @changetip with a predefined tip amount in order to give money to a worthy person, cause, or quality content. On Reddit, users can comment with u/changetip to do the same.
Being signed into Coinbase makes tipping faster, allowing for one-click tips, and while the default tip amount is 300bits, senders can customize the default amount or the amount they wish to send.
Why Use a Tip Button?
Tipping is a new and easy way to monetize content without ads or charging people. Tipping gives you the ability to read and evaluate content and give whatever amount you see fit – if any. Perhaps a post was especially entertaining, informative or engaging – why not give them a tip?
Coinbase works with charities such as United Way that really benefit from microtransactions. The recent buzz around ChangeTip has shown that consumers have a strong desire to make small payments. According to Coinbase, over 30% of orders on Coinbase are below $1.
Tipping not only provides a potential financial reward for creators, but also the bonus of finding out which types of content are valuable versus viral. In turn, this can help bloggers produce relevant and engaging information that is beneficial to both themselves (financially) and the community.
What do you think about Coinbase Tip button? Comment below!
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Last modified: March 4, 2021 4:41 PM